Four Consecutive Weeks of Introduction to Digital Asset Funds
There was an inflow worth $185 million into digital asset funds this week, marking the fourth consecutive week of inflows. In May, 2 billion dollars of inflow occurred, and the total inflow amount since the beginning of the year exceeded 15 billion dollars. The highest entry was in Bitcoin with $148 million. While there was an inflow of $33.5 million on the Ethereum side, there was an outflow of $3.5 million from short-Bitcoin.
First Spot Bitcoin ETF in Australia Begins Trading
Australia-based Monochrome Asset Management’s Monochrome Bitcoin ETF (IBTC) will begin trading on the Cboe Australia exchange on Tuesday. The company said this product is the first and only ETF in Australia that directly holds Bitcoin.
Search Interest for the Word ‘Onchain’ on Google is at an All-Time High
According to Google Trends data, Google search interest for the term ‘onchain’ hit an all-time high in May. Over the past five years, worldwide search interest for the term has mostly remained below 25 points out of 100, with a brief increase to around 30 points in March. However, between May 26 and June 1, search interest for the word ‘onchain’ reached 100 points.
Thailand Approves the First Bitcoin ETF in the Country
The Securities and Exchange Commission of Thailand has approved the launch of the first Bitcoin ETF in the country. The fund will invest in eleven leading global Bitcoin funds that ensure liquidity while observing international custody standards and regulatory compliance overseen by the United States and Hong Kong.
More US States Expected to Invest in Bitcoin After Wisconsin
Marquette University professor David Krause said other US states could follow Wisconsin in investing in spot Bitcoin ETFs. Krause described Bitcoin as a ‘good investment’ for state pension funds, highlighting its role in diversification, its high potential return and its use as a hedge against inflation.
Aptos Labs CEO Mo Shaikh Elected to CFTC’s Digital Assets Subcommittee
Mo Shaikh, co-founder and CEO of Aptos Labs, joined the Commodity Futures Trading Commission’s (CFTC) Digital Assets Markets Subcommittee. This group advises on international trade regulations, working under the International Trade Advisory Committee (GMAC), which includes executives from major firms such as Citadel and Goldman Sachs. Shaikh’s appointment enhances the reputation of Aptos, which was launched in October 2022 by former Meta employees. The subcommittee also includes representatives from BlackRock, Polygon Labs, Uniswap Labs and BNY Mellon. Shaikh expressed his pride in representing the Web3 community.
Bitfarms Mining Revenue Dropped to $7 Million
In May, Bitfarms earned 156 BTC, down 42% from April and down 66% from last year. The company sold 136 BTC for $8.9 million as part of treasury management. This figure was 16.1 million dollars in April. Bitfarms’ BTC holdings have increased to 850 BTC, worth $57.2 million, based on a Bitcoin price of $67,300 as of May 31. The production rate was 24.5 BTC per exahash on average at the moment, down 45% from the previous month, and the average daily earnings were 5.0 BTC, worth approximately $340,000 as of May 31.
Dapper Labs’ $4M Deal Reaffirms NBA NFTs Are Not Securities
Dapper Labs ended the class-action lawsuit by reaching a $4 million settlement confirming that NBA Top Shot NFTs are not securities. According to CEO Roham Gharegozlou; legal discovery showed that these NFTs are not securities like trading cards and operate on a decentralized network. The settlement, which is pending approval, requires Dapper Labs to pay $4 million in damages and make business changes to ensure the decentralization of the Flow blockchain. Additionally, Dapper Labs will conduct annual staff training on federal securities laws.
Shiba Inu Team Warns of Increasing Scams
The Shiba Inu team has issued a strong warning to its community about increased fraudulent activity targeting the Shibarium platform. Prominent figures such as community figures Digarch and DaVinci have highlighted these risks and stressed the need for extreme caution. DaVinci detailed the tactics used by scammers, explaining that they created tokens that falsely claimed affiliation with Shiba developers and the future of Shibarium. The team emphasized that due to the decentralized nature of Shibaswap, their ability to ban fraudulent tokens outright is limited. But still, they actively work to publicly disavow scams and prevent the community from participating in such activities.
CBDC Move from Qatar Central Bank
Qatar Central Bank (QCB) has completed the infrastructure of its central bank digital currency (CBDC) project and launched the first phase of an experimental project focused on the settlement of large payments between major local and international banks. The state news agency reported that the initiative will explore distributed ledger technology, artificial intelligence, liquidity and securities transactions.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $69,052 with a 0.36% gain in value. The horizontal channel between $75,760 and $60,800 is still maintained. Yesterday, there was an increase up to $70,288, but it could not be sustained. If the pullback continues, $68,000 appears as the first major support. As resistance, $70,000 is currently working. Closings above $69,500 are required for the continuation of the rise.
ETHEREUM (ETH)
ETH is priced at $3764 with a 0.08% loss in value as of the morning hours. The rise continues after the $3730 level worked as support. For the continuation of the rise, it is important to maintain permanence above $ 3930. If persistence is achieved, an increase up to $4000 may be seen. If a pullback occurs, the first support is likely to be at $3700.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.52 with a 0.02% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be sustained. $0.50 is a critical level and this level has been regained. Initial support again appears to be the range between $0.52 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.
AVALANCHE (AVAX)
AVAX is priced at $34.82 with a 0.60% gain in value as of the morning hours. After the horizontal area broke up, we saw a movement up to the $42 level, but it could not be sustained above this area. In case of withdrawals, the 35 and 33 dollar areas can be followed as support. The middle region of the horizontal band was lost. Withdrawals may occur. In upward movements, if there is persistence above the $40 level, the $45 region can be targeted. There is a downward trend in the short term.
SOLANA (SOL)
SOL is priced at $166.30 with a 0.83% gain in value as of the morning hours. When we examine the daily chart, we see that the $160 level, which we follow as the support zone, was tested with the withdrawal movement. If the reaction from this region continues, the $ 170 level can be followed as short-term resistance. If the support zone is broken, a move up to $155 may be possible.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $17,622 with a 0.04% loss in value. When we examine the daily chart, we see that there is a price movement towards the $ 17,500 region, which we follow as the support zone. If there is an upward reaction from this support zone, the $18 zone can be followed as short-term resistance. In case the support zone is broken downwards, the $17 zone can be followed.
FTM
FTM is priced at $0.8262 with a 2.63% gain in value as of the morning hours. When we examine the hourly chart, we see that the short-term consolidation zone has been broken upwards. If this movement continues, the $0.8350 region can be targeted. In case of a withdrawal, the $0.82 region can be followed as support.
KSM
KSM is priced at $32.02 with a 2.52% gain in value as of the morning hours. When we examine the hourly chart, we see that the $ 31.70 area, which we follow as the resistance zone, has been broken upwards. If this movement continues, a move towards the $32.50 region may be possible. In case of withdrawals, the broken resistance area of $ 31.70 can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2349 dollars with a 0.08% loss in value. When we examine the four-hour chart, we see that the $ 2400 level has been broken strongly downwards. The $2320 level, which we currently follow as a support zone, still seems strong. If the decline continues, the $2308 level may be seen again. If it gets support from this region and an upward movement begins, a movement up to $2360 can be seen.
OUNCE OF SILVER
As of the morning hours, silver is priced at $30.54 with a 0.60% loss in value. When we examine the four-hour chart, we see that there is an upward reaction movement from the bottom region of the horizontal movement and this movement continues towards the $ 30.80 region, but receives a downward reaction from this region. In case of short-term pullbacks, the $ 31.50 and $ 31.20 levels can be followed as support.
