Weekly Outflow of $305 Million Was Seen
Global crypto investment products saw $305 million in outflows last week. This came as major crypto assets like Bitcoin and Ethereum were particularly affected by market volatility. According to CoinShares data, investors are withdrawing their assets to avoid macroeconomic uncertainties, particularly in the U.S. These outflows may also have been affected by recent increased volatility and regulatory pressures in the sector.
Corey Caplan Takes Advisory Role at Trump-Backed World Liberty Financial
Dolomite co-founder Corey Caplan has taken on an advisory role at Trump-backed World Liberty Financial. The move is seen as a strategic move to accelerate the company’s efforts to develop crypto-based financial products. Caplan could bring significant value to the company with his deep experience in blockchain and DeFi. World Liberty Financial focuses on digitization in financial services.
Number of Bitcoin Millionaires Increased by 110% in 1 Year as Market Surges
The number of Bitcoin millionaires has increased by 110% in the last year due to the market rally. The increase in the price of Bitcoin has led to a significant increase in the number of individuals holding large amounts of BTC. This indicates an increase in confidence in Bitcoin and large investments. This trend can also be interpreted as a sign that crypto markets continue to mature.
Bitcoin Mining Revenue Hits New Low
Bitcoin mining revenue hits new lows in August amid a decline in the amount of BTC mined. August was a difficult month due to increased mining difficulty and tougher market conditions. This led to a decline in mining revenue and uncertainty in the mining industry. At the same time, miners are struggling to cover their operational costs.
Patent War Over Digital Mining Heats Up
The patent war over digital mining is heating up. Leading companies are fighting legal battles over patent rights to blockchain and crypto mining technologies. These lawsuits could slow down innovation in the industry and slow down technological advancements. Moreover, such patent wars can limit competition and create barriers to new entrants.
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BITCOIN (BTC)
BTC is priced at $59,200 with a 0.13% increase in value as of the morning hours. An increase of up to $65,000 was achieved but could not be sustained. The $59,000 level was broken downwards again. The first support zone is between 56,800 and 55,500. As for the resistance level, 59,200 now appears as a strong resistance zone. With the break of this zone, an increase of up to $62,000 can be seen.
ETHEREUM (ETH)
ETH is priced at $2522 with a 0.63% loss in value as of the morning hours. An increase occurred from $2570 to $2820. Permanence could not be achieved at this level. A decrease occurred to $2400. If a breakdown occurs below the $2400 level, pullbacks to $2330 may be seen. If $2820 is broken upwards, pricing up to $3000 may be seen.
RIPPLE (XRP)
XRP is priced at $0.5669 with a 0.16% loss in value as of the morning hours. Permanence above $0.55 seems to have been achieved. A pullback to $0.5434 has occurred. In pullbacks, a pullback to $0.5350 may now occur. If pricing above $0.55 continues, increases to $0.60 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $22.45 with a 0.36% increase in value as of the morning hours. There is pricing below $23 again. With the reaction it will receive from the $20 region, an increase of up to $25 may occur. If the pullback deepens, the price may go up to $20.
SOLANA (SOL)
SOL is priced at $134.89 with a 0.10% loss in value as of the morning hours. There was another pullback from $162 to the $127 area. If it reacts from this level, a rise to $137 may occur. If the pullback continues, the $115 area looks strong.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2494 with a 0.21% loss in value. After the ATH was renewed, prices below $2500 were seen. $2505 is now our first resistance zone. If there is a break above this level, ATH may be renewed again. The $2470 and $2465 range seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $28.41 with a 0.53% loss in value as of the morning hours. A break of 29.10 occurred and a retest was given. In the continuation of the rise, an increase of up to $30.73 may occur. In pullbacks, 28.10 and 27.50 appear to be strong supports.
