Strong Performance from BlackRock and Fidelity's Spot Bitcoin ETFs – Ethereum Dencun Update Going Live on March 13

Strong Performance from BlackRock and Fidelity’s Spot Bitcoin ETFs

BlackRock and Fidelity’s spot Bitcoin ETFs accumulated more assets in their first month of trading than any ETF launched in the United States in the last 30 years. Bloomberg Intelligence data shows BlackRock’s IBIT and Fidelity’s FBTC each gained more than $3 billion in assets in their first 17 trading days. Additionally, BlackRock and Fidelity’s ETFs have seen inflows every trading day since their launch.

Ethereum Dencun Update Will Be Released on March 13

Ethereum’s long-awaited Dencun update will go live on March 13. Following the successful implementation of the Dencun upgrade on the Holesky testnet on February 7, Ethereum core developers decided on the mainnet launch date during the bi-weekly ‘Consensus Layer Meeting’. Dev teams have until February 22 to release the final versions of their Dencun-powered Ethereum clients, and validators will have approximately two weeks to update their nodes with these new client versions.

Bain Capital Crypto Leads $5.2M Seed Round for Ethereum-Focused DEX Aggregator Flood

A $5.2 million seed funding round was raised by Flood, a decentralized exchange aggregator focused on the Ethereum ecosystem. The round was led by Bain Capital Crypto and included participation from Robot Ventures and Archetype. The round closed in the summer of 2023, according to Flood co-founder and CEO Francesco, who told The Block it was structured as equity with token warrants. He declined to comment on the valuation but noted a small round of financing was raised a year ago with the same investors and a few angel investors.

Do Kwon’s Extradition Canceled Once Again, Montenegrin Court Accepts Objection

Do Kwon’s extradition to South Korea or the United States was once again annulled by the Montenegrin Court of Appeals, which accepted the objection of his defense lawyers and overturned the decision of the country’s Supreme Court in December. Do Kwon previously won the appeal on December 14, overturning the Supreme Court’s initial decision on November 17 that the extradition requests were legally valid. On December 29, the country’s Supreme Court once again ruled that the requests were valid, and Do Kwon appealed again in January.

Ripple President Says DeFi Compatibility Will Be the Top Industry Trend in 2024

Harmonization in decentralized finance (DeFi) will be the industry’s biggest advance in 2024, according to Ripple’s president Monica Long. Long highlighted a shift from speculative cycles of enthusiasm to real-world use, noting that this requires compatibility, usability and integration with traditional systems. The current market value of the DeFi industry is $79.5 billion. The US is taking steps to expand control over cryptocurrencies and DeFi. The new rules adopted by the SEC require more market participants to register. This points to increased regulation in the DeFi space.

Ethereum Staking Reaches a Huge Milestone

Approximately 25% of the total Ethereum supply, or approximately 30 million coins, has now been staked, marking a major milestone for the staking program. Meanwhile, the price of ETH traded at $2425, up 2.8% in the last day. A well-known liquid staking platform called Lido said on February 8 that it had staked more than 30 million Ethereum, or 25% of the total amount of Ethereum in circulation. According to Dune Analytics, Lido has a 31.5% market share in staked Ethereum.

Ethereum Name Service Introduces On-Premises Layer-2 Network

Web3-focused address naming protocol Ethereum Name Service (ENS) is working to develop an in-house layer-2 network, according to an exclusive report. Khori Whittaker, executive director of ENS, said there has been significant investment in research to meet the layer 2 needs of the blockchain protocol.

Worldcoin’s World ID Will Be Used to Verify the Identities of E-Sports Players

Community Gaming, a crypto-powered e-sports tournament platform, announced that it has collaborated with Worldcoin participant Tools for Humanity to integrate World ID into its infrastructure. This means players may be asked to verify their identity before participating in competitions. Community Gaming said the integration will be entirely optional for tournament organizers, but provides a way to verify users who can join from remote locations.

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BITCOIN(BTC)

In morning trading today, Bitcoin is trading at $46,234, up 2.11%. With yesterday’s rise, important resistance levels were broken upwards and prices above $ 46,000 are seen. After exceeding the upper part of the horizontal band, it performs a retest and continues its upward movement. The first resistance level is now $48,000. If we see a breakout of $48,000, there may be a rise to $49,000. For pricing below $46,000, the first support position appears to be 45,500.

ETHEREUM(ETH)

Ethereum, which gained 1.28% in value as of the morning hours, is priced at $ 2452. After breaking the horizontal upper position of $2400, it continued on its way to a retest towards the breakout, but it rose to $2490 without a retest. The first support level is $2435, and if it persists, a rise to $2500 can be seen. If $2435 breaks downward again, there may be a retreat to $2280.

RIPPLE(XRP)

As of the morning hours, XRP is priced at $0.5181 with a 0.72% gain in value. After receiving a strong reaction from $0.50, it rose to $0.52. The first support level is 0.5120, and if it is broken down, retreats may occur up to $0.5040. If prices are above $0.53, there may be an increase up to $0.55.

AVALANCHE(AVAX)

AVAX is priced at $35.96 with a 1.52% gain in value as of morning hours. The strong support level of 34 received its upward reaction and gave a nice breakout. After receiving a reaction from $36, it is trying to price above $36 again. In breaks above $36, the $38 level can be seen again. In case of a break below $35, $34 may be seen again.

SOLANA(SOL)

SOL is priced at $104.6 with a 1.79% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $105 level, which is the resistance zone, was tested with the upward movement experienced yesterday and it could not be sustained above it. SOL, which is priced close to the resistance zone, may move towards the $110 level if it breaks this zone upwards. In case of a withdrawal, the $ 100 level can be followed as support.

CHAINLINK(LINK)

As of the morning hours, LINK is priced at $18,206 with a 0.03% loss in value. When we examine the hourly chart, we see that there is a downward movement. The $18 support zone is an important level for LINK. If this zone is broken downwards, the retreat movement may continue up to the $17,500 level. In case of a pullback, the $18,500 level can be followed as resistance.

IMX
IMX is priced at $2.3872 with a 4.33% gain in value as of the morning hours. When we examine the four-hour chart, we see that the horizontal resistance level of $ 2.35 has been broken upwards. If this movement continues, the $2.42 level may be tested. In case of a withdrawal, the $2.36 level can be followed as support.

1INCH

1INCH is priced at $0.4224 with a 3.58% gain in value as of the morning hours. When we examine the four-hour chart, we see that the ascending triangle formation has broken upward. If this movement continues, the other resistance area, $0.43, can be tested. In case of a withdrawal, the $0.41 level can be followed as support.