US CPI Data Announced Above Expectations
Consumer price growth has accelerated overwhelmingly, exceeding economists’ predictions. Consumer Price Index (CPI) increased by 0.3% compared to the previous month, slightly higher than December, and increased by 3.1% annually, slightly below the 3.4% increase in December. Core prices, which do not include energy and food, continued to increase by 3.9% annually compared to the previous year. The increase was driven by categories that were expected to relax, such as housing costs and other services. Increases in medical care and transportation services also contributed significantly to January inflation.
Aptos Implements Passwordless Passkey Authentication for Transactions
Avery, co-founder and CTO of Aptos Labs, said they made changes to the blockchain and created a transaction in Aptos to have a new passkey authenticator that would take the passkey signature and passkey public key and authenticate the transaction with that information. This effectively allows the user to sign transactions with passkeys. Aptos Labs introduced passkeys as a new way for users to sign transactions on the Layer-1 blockchain network, eliminating the need to create passwords.
ENS Community Considering Reaching a $300,000 Settlement with Manifold in the eth.link Domain Name Dispute
NS Labs, the creator of Ethereum Name Service, is involved in a lawsuit regarding the eth.link domain name. The lawsuit was filed in August 2022 and involves multiple parties, including domain registrars and Manifold Finance. Recently, Manifold Finance made an offer to resolve the dispute with NS Labs, asking for $300,000 in exchange for confidentiality and non-disparagement agreements. The settlement agreement seeks to resolve issues arising from the transfer and sale of the eth.link domain, which was originally owned by NS Labs but was later sold by Dynadot to Manifold Finance.
Cathie Wood Doubts SEC Approval for Crypto ETFs Beyond Bitcoin and Ethereum
The Securities and Exchange Commission (SEC) is unlikely to approve spot exchange-traded funds that track cryptocurrencies other than Bitcoin and Ethereum, according to Cathie Wood, founder of ARK Investment Management. “We would be surprised if anything other than Bitcoin and Ethereum are approved by the SEC,” Wood said recently on the WSJ Take On the Week podcast. said.
Ripple Acquires Standard Custody & Trust Company
Ripple has acquired United States digital asset custody provider Standard Custody & Trust Company. Standard Custody & Trust Company provides custody and escrow services under a contract issued by the New York State Department of Financial Services and is a qualified custodial firm pursuant to federal regulations.
Polygon Labs Introduced AggLayer
Polygon Labs introduced AggLayer interoperability protocol to enable zero-knowledge proof network transitions between Layer-2s. The first version of AggLayer will go live on February 23. AggLayer, short for Aggregation Layer, aims for unified liquidity and interoperability for Layer-2s.
Avalanche Launches Durango Update
Avalanche officially launched the Durango upgrade on the Fuji testnet on February 13, 2024. This upgrade aims to enable reliable cross-chain interactions and significantly increase the scalability of the network. Avalanche states that the Durango update comes with a number of improvements aimed at strengthening the capabilities of the Avalanche network. The most important of these is the activation of Avalanche Warp Messaging (AWM) in all EVM chains in the Avalanche ecosystem.
Spot Ethereum ETFs Have a 50% Chance of Approval in May, According to Bitwise, Galaxy and Grayscale Executives
Executives from three asset management firms agreed during a panel on Feb. 13 that pending spot Ethereum ETFs have a 50% chance of being approved this May. “I think we’re likely to have an ETH ETF very soon. We have a 50% chance by May,” said Matt Hougan, Head of Global Research at Bitwise Asset Management. He made a statement. Galaxy Asset Management Global Head Steve Kurz stated that he thinks there is a 50% chance of spot Ethereum ETF approval by May. Finally, Grayscale ETF Global Head Dave LaValle evaluated the approval probability as 50% by May.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $49,539, down 0.33%. After yesterday’s inflation data, there was a decline and it retreated to $ 48,300. With the support it receives from here, there is a pricing above $ 49,500 again. If persistence above this level is achieved, increases up to $51,200 may be seen. In case of a break below $48,300, $48,000 appears as the next support.
ETHEREUM(ETH)
Ethereum, which lost 0.03% in value as of the morning hours, is priced at $ 2639. After a retreat to $2593, prices above $2600 appear again. If persistence above $2600 is achieved, increases up to $2725 can be expected. If there is a breakout of $2600, a pullback may occur up to $2525.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5233 with a 0.27% loss in value. It continues its downward movement after being rejected at $0.5380, which is the first intermediate resistance zone. The first support zone is the $0.52 level. If there is an upward reaction from here, the $ 0.55 level can be seen again. If a downward break occurs, $0.50 appears as major support.
AVALANCHE(AVAX)
AVAX is priced at $39.68 with a 0.13% depreciation as of morning hours. After rising to $41.70, it continues to rise again by retreating. It is very important to maintain permanence above $40 for the continuation of the rise. If a gain of $40 occurs, a pricing of up to $42 may be seen. If a pullback occurs, a move up to $38 could be seen.
SOLANA(SOL)
SOL is priced at $112.5 with a 0.03% loss of value as of the morning hours. When we examine the four-hour chart, we see that there was an upward reaction from yesterday’s withdrawal movement at the support zone of $ 110. If this movement continues, the $116 level appears as a critical resistance zone. If there is persistence above the resistance zone, the $120 level can be tested. In case of a pullback, the $110 and $105 levels can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $19,995 with a 0.62% gain in value. When we examine the four-hour chart, we see that the $19.7 support zone has been tested with the withdrawal movement and an upward reaction is currently being received. If this movement continues, the $20.50 and then $20.8 levels may be tested. In case of a withdrawal, the $19.7 and $19.5 levels can be followed as support.
DOT
DOT is priced at $7,613 with a 3.52% gain in value as of the morning hours. When we examine the four-hour chart, we see that the upward movement continues with the upward break of the resistance zone of $ 7.3. If this movement continues, the $7.8 level can be followed as resistance. In case of a withdrawal, the $ 7.5 level can be followed as support.
KSM
KSM is priced at $45.21 with a 3.48% gain in value as of the morning hours. When we examine the four-hour chart, we see that the resistance level of $ 43.90 has been broken upwards. If this movement continues, the $47 level appears as a critical resistance zone. If the $47 level is exceeded, the $50 region can be tested. In case of a withdrawal, the $44.5 level can be followed as support.
