Storj Acquires Cloud Computing Company Valdi
Storj announced that it is adding graphics processing unit (GPU) computing for its enterprise customers through the acquisition of high-performance cloud computing provider Valdi. The Valdi network consists of more than 16,000 GPUs globally, providing on-demand processing used for artificial intelligence (AI) training in sectors such as technology, research and life sciences, Storj said in a press release. Terms of the agreement were not disclosed.
Bitwise CCO Says Ethereum ETFs Are ‘Near the Finish Line’
While Bitwise CCO Katherine Dowling said spot Ethereum ETFs are near the finish line, she noted that the SEC has been quite accommodating when it comes to discussions about other products. The SEC and ETF issuers are addressing fewer issues with each S-1 amendment, indicating an imminent launch, Dowling told Bloomberg on July 9. Additionally, Dowling confirmed his claim that the SEC will fully approve issuers’ registration statements over the summer.
Invesco Sets Ethereum ETF Fee at 0.25%
On July 9, asset managers Invesco and Galaxy set management fees for the Invesco Galaxy Ethereum ETF (QETH) at 0.25% in a filing with US regulators. This points to increased competition among ETF sponsors ahead of the launch of spot Ethereum ETFs in late July. Invesco’s fees appear to be slightly higher than those of rivals VanEck and Franklin Templeton, which announced in their S-1 filings that they planned to charge 0.20% and 0.19%, respectively.
$216 Million Inflow in Spot Bitcoin ETFs
When we examined the data dated July 9, there was an inflow of $216 million in spot Bitcoin ETFs, thus marking three consecutive days of money inflow. The highest inflow occurred on the IBIT side with 121 million dollars. FBTC ranked second with 90 million dollars. On the exit side, GBTC and BITB attract attention. While there was an outflow of 37 million dollars on the GBTC side, there was an outflow of 4 million dollars on the BITB side.
New Developments from Arkham
Arkham Intelligence CEO Miguel Morel announced that they plan to add paid features to the blockchain data platform later this year, but basic services will remain free. Morel emphasized that core tools such as viewing assets, searching and reviewing portfolios will remain free indefinitely. He noted that fees may be charged for additional features such as API and visualization tools. The platform is preparing to support TON and Solana blockchains. Solana integration will cost $1 million annually. This cost is supported by a grant. Morel pointed out the platform’s recent growth and its unique capabilities in the market.
Uniswap Cites Chevron Ruling While Opposing SEC’s DeFi Regulation Proposal
Uniswap Labs called on the SEC to withdraw its proposal to regulate decentralized finance, citing a recent Supreme Court decision. Since April 2023, the SEC has been trying to expand the definition of exchanges to include crypto market participants in DeFi. Uniswap notes that the recent Chevron decision has led courts to have less confidence in federal agencies’ interpretation of unclear laws. The company argues that the SEC’s efforts would waste resources and produce inconsistent legal consequences. Additionally, Uniswap suggests that, if the changes are not withdrawn, they should at least reopen the comment period so the public can evaluate the Chevron decision.
Sleeping Bitcoin Whale Awakens After 11 Years with Up to 10.419% Gain
Whale Alert reported that an address containing 149 Bitcoins, which had been inactive since 2013, became active again. The value of this wallet increased from $81,667 to $8.6 million, showing a gain of 10,419% due to Bitcoin’s huge increase over the years. Additionally, two addresses containing 500 BTC each and another address that had been dormant for 5.5 years and transferred 8,000 BTC to Binance were also reactivated. A wallet that had been dormant for almost 12 years moved 500 BTC to new addresses, and while the initial purchase value of these Bitcoins was under $4,000, their current value is approximately $35 million. 2,000 Bitcoins, mined in 2010 and initially worth about $600, were collected in a single wallet and are now worth about $140 million. CryptoQuant CEO Ki Young Ju stated that these moves could be a sign of a ‘sell-side liquidity crisis’ driven by demand for new Bitcoin ETFs in the US market.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $58,972 with a 1.58% gain in value. After the retest to $54,200, the upward movement seems to have started. The first support is $56,000. In case of an upward reaction from this region, $ 58,800 must be broken upwards and persistence must be achieved. As resistance, $60,000 seems strong.
ETHEREUM (ETH)
ETH is priced at $3104 with a 1.18% gain in value as of the morning hours. It seems to have received a reaction after falling to $2816. If there is no persistence above $3100, the decline may continue. If it is sustained above $3100, there may be an increase up to $3500.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $ 0.4382 with a 0.57% gain in value. It seems to have received a reaction at $0.38. $0.45 is working as resistance. If the decline continues, $0.30 may act as support. If $0.30 acts as support, $0.50 may reappear. For the rise, a break above $0.45 and persistence is required.
AVALANCHE (AVAX)
AVAX is priced at $27.15 with a 2.72% gain in value as of the morning hours. It seems to have received support at $22. The upside correction may continue towards $28. If the decline continues, $20 can be determined as major support. Permanence above $27 is required for the rise.
SOLANA (SOL)
SOL is priced at $145.22 with a 2.71% gain in value as of the morning hours. When we examine the daily chart, we see that there is a pricing above the $ 140 level and also the $ 145 level, which we follow as the resistance zone after yesterday’s reaction. If this movement continues, the $ 150 level can be followed. In case of withdrawals, the levels of 140 and 135 dollars appear as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $13,107 with a 2.07% gain in value. When we examine the four-hour chart, we see that there is an upward movement and it is trying to maintain permanence above the $13 level. Above this area, the $13,500 level appears as a resistance zone. In case of withdrawals, the $ 12,500 level can be followed as support.
BCH
BCH is priced at $345.7 with a 4.45% gain in value as of the morning hours. When we examine the hourly chart, we see that the falling trend line has been broken upward. If this movement continues and persists above the $350 level, the $360 region can be targeted. In downward movements, the $ 340 level can be followed as support.
PNG
As of the morning hours, PNG is priced at $0.2996 with a 3.70% gain in value. When we examine the hourly chart, we see that there is a short-term upward breakout movement. But we are also very close to the resistance zone of $0.30. If there is a strong move above this zone, a move towards the $0.315 level may be possible. In case of withdrawals, the $ 0.294 level appears as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2368.75 dollars with a 0.20% gain in value. $2392 is currently working as resistance. $2350 appears as the new support. For an upward movement, it needs to get support from $ 2365 and pricing above $ 2400. If the pullback intensifies, $2330 is the major support.
OUNCE OF SILVER
Silver is priced at $30.80 with a 0.01% gain in value as of the morning hours. When we examine the four-hour chart, we see that there is a pricing below the $31 level, which we follow as the support zone. If this movement continues, a retreat towards the $ 30.50 region may be possible. In upward movements, it is important to maintain permanence above the 31 dollar level.
