US Spot ETH ETFs Delayed
According to Eric Balchunas, the SEC required spot Ethereum ETF issuers to re-file their S-1 forms by July 8, delaying the launch of Ethereum ETFs to mid-July or later. SEC Chairman Gary Gensler told the Senate last month that spot ETH ETFs would be approved this summer. The SEC sent back the forms with minor comments, and issuers must respond to those comments in the final round of revisions. This shows that there may be more returns. Approval of S-1 forms marks the second phase for the launch of spot Ethereum ETFs. The first phase involved 19b-4 forms, which received approval from the SEC in May. Recent updates in June included the announcement of sponsor fees from Franklin Templeton and VanEck and seed investments from issuers such as Invesco Galaxy, Grayscale, Fidelity and BlackRock.
21Shares Applies for Spot Solana ETF
Asset manager 21Shares became the second company to apply for the spot Solana ETF, following VanEck. This fund, called 21Shares Core Solana ETF, was created to reflect SOL’s performance, according to its S-1 registration form filed with the U.S. Securities and Exchange Commission (SEC). The custody of this fund will be carried out by Coinbase Custody Trust Company.
SEC Sues Consensys Over MetaMask Staking and Broker Allegations
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Ethereum software provider Consensys, alleging that its MetaMask wallet service offers and sells securities. The lawsuit also targets Ethereum staking services Lido and Rocket Pool, which MetaMask uses for its staking feature. The SEC alleges that MetaMask brokered more than 36 million crypto transactions, at least 5 million of which involved “cryptoasset securities.” Additionally, the SEC considers MetaMask’s Lido and Rocket Pool staking services to be investment contracts and treats the liquid staking tokens of these services as unregistered securities. Consensys calls this a regulatory overreach and continues its legal fight to prevent MetaMask from being regulated as a broker.
Floki Inu Warns Against Fake Tokens on Solana and Base Blockchains
The Floki Inu memecoin project has warned users and the cryptocurrency community about fake tokens falsely associated with its brand. The official Floki Inu account emphasized that the legitimate FLOKI token is only available on the BNB Smart Chain and Ethereum networks and shared the correct contract addresses to avoid fraud. Despite these threats, Floki Inu continues to expand its ecosystem and has launched the FLOKI Name Service on the BNB Chain mainnet. Thus, users can register decentralized domain names. The project reached over 417,400 on BNB Chain and launched a rewards program for its community. In its 2024 roadmap, Floki Inu plans to introduce regulated digital bank accounts and partnerships with fintech firms for global financial services.
Partnership Between Aptos and Alibaba Cloud
Aptos Foundation announced a partnership with Alibaba Cloud to grow the Web3 ecosystem in Japan. According to the official announcement, the agreement aims to increase accessibility and promote innovation in the Asia-Pacific region. The duo will launch Alcove, Asia’s first co-branded Move developer community. Alcove’s mission is to increase the reach and impact of the Move smart contract programming language among Web3 developers.
IRS Finalizes New Regulations for Crypto Tax Reporting
Under new regulations, crypto platforms will be required to report transactions to the US Internal Revenue Service (IRS) starting in 2026. However, decentralized platforms that do not hold assets themselves will be exempt from these regulations. With these new regulations, profits from the sale of crypto and other digital assets will be subject to tax. “We need to ensure that digital assets are not used to conceal taxable income, and these final regulations will improve detection of noncompliance in the high-risk area of digital assets,” IRS Commissioner Danny Werfel said in a statement. said.
Sony Group Officially Enters the Crypto Exchange Market
Sony Group has officially entered the crypto exchange market with the acquisition of Amber Japan. Amber Japan, formerly known as DeCurret, is the Japanese subsidiary of the global Amber Group and provides regulated digital asset trading services. The move comes as part of Sony’s strategy to diversify its portfolio, which currently has a market capitalization of more than $100 billion.
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BITCOIN (BTC)
BTC is priced at $63,400 with a 1% gain in value as of the morning hours. There was a drop to $ 58,500, but it could not be sustained. The horizontal band has been re-entered. $62,500 appeared to be the first resistance level and it was broken to the upside. Closings above $64,000 are required for the continuation of the rise. In case of a pullback, $62,200 appears as the first support.
ETHEREUM(ETH)
ETH is priced at $3488 with a 1.45% gain in value as of the morning hours. $3148 appears as major support. After a drop to $3241, permanence could not be achieved and the upward movement partially started. For the continuation of the rise, permanence above $ 3500 must be maintained. If stability above $3500 is achieved, an increase may occur up to $3750. In the continuation of the retreat, $ 3000 seems to be the strongest support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.4785 with a 0.50% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.45 level, but it could not be permanent. $0.50 is a critical level and this level must be regained. Initial support again appears to be the range between $0.48 and $0.45. Areas where there may be resistance include the $0.50 and $0.52 levels.
AVALANCHE (AVAX)
AVAX is priced at $29.77 with a 1.43% gain in value as of the morning hours. The rise continues after gaining support at $23.50. In case of withdrawals, the 28 and 27 dollar areas can be followed as support. $25.30 seems to hold the price for now. For the rise to continue, the $30 zone must be broken and persistence must be achieved. If $ 30 is exceeded, there may be a rise again up to $ 40. If the withdrawal continues, $25 will be a major support area, which is likely to work.
SOLANA (SOL)
SOL is priced at $148.05 with a 1.04% gain in value as of the morning hours. When we examine the daily chart, we see that there is an upward reaction movement from the $ 140 level, which we follow as the support zone. If this movement continues, the previous peak level of $150 appears as resistance. If the resistance zone is crossed, the $155 level can be followed. In case of withdrawals, the $ 145 level can be followed as short-term support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 14,280 with a 1.02% loss in value. When we examine the four-hour chart, we see that there is a pricing level of $ 14,300, which we follow as a resistance zone. If there is persistence above this region and also the $14,500 region, a movement towards the $15 level may be possible. In case of withdrawals, the $14 level can be followed as support.
ALGO
ALGO is priced at $0.1482 with a 2.56% gain in value as of the morning hours. When we examine the four-hour chart, we see that there is an upward breakout movement. If this move continues and persists above the $0.1450 level, a move towards the $0.1550 region may be possible. In downward movements, the $ 0.1420 region appears as support.
KSM
KSM is priced at $24.10 with a 1.22% gain in value as of the morning hours. When we examine the four-hour chart, we see that the falling trend line is in the breakout area. The upward movement may continue if it persists above the $24.20 resistance level. In case of withdrawals, the $24 level appears as short-term support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2321 dollars with a 0.24% loss in value. There was a decline from $2390 to $2290. The $2290 level is acting as support. In case of another pullback to $2308, this could be the beginning of an upward move. A break above $2340 is required for the continuation of the rise.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.01 with a 0.43% loss in value. When we examine the four-hour chart, we see that the $28.70 level, which we follow as the support zone, was tested and there was some reaction movement from this zone. If this movement continues upwards, the $29.20 level is followed as an important resistance. If the resistance zone is crossed, the $ 29.50 level can be tested.
