WEEKLY CRYPTOCURRENCY NEWS

Total Market Cap Exceed 1 Trillion Dollars

It has managed to rise above the trillion dollar level for the first time after the total market value in crypto assets rose above once in August after the decline it experienced in June. In addition, it will be technically important for the total market capitalization data, which closes above the 200-week moving average, to make daily and weekly closes above $ 1 trillion.

United Arab Emirates Continues Crypto Asset Moves

The United Arab Emirates, the country's minister of state for foreign trade, recently announced that they plan to use crypto assets in foreign trade and are working on a crypto asset regulation package. Speaking in Davos, Than stated that they intend to continue trading in a currency other than the Al-Zeoudi US dollar. Emphasizing the importance of crypto assets in this path, Al-Zeoudi said that crypto assets are one of the areas where the country wants to develop.

Ethereum Layer-2 Networks Continue to See Growth

According to the latest data, Layer-2 networks see a significant increase in the number of transactions and users. Polygon, Arbitrum and Optimism networks have seen increases of 30%, 40% and 180%, respectively. Polygon is the leading project with the development it has shown among these networks and the collaborations and developments it has announced in 2022. 

Ripple Continues to Appreciate as Court Approaches

Ripple's total market capitalization has surpassed the $ 20 billion level for the first time in 3 months. While the court result is getting closer every day, Ripple has continued to gain strength in this process. The case is expected to conclude between March and June. 

Shiba Inu Became the Most Popular Coin of the Last Week

According to the information provided by an institution that conducts on-chain data research, Shiba Inu has come to the fore as the most popular crypto asset for investors who are new to crypto assets, that is, beginner investors. $56 million worth of SHIB tokens flowed into 12,000 new wallets that entered the markets last week.

Ethereum Developers Launch First Shadow Fork Before Shanghai

Ethereum developers have carried out the first of the shadow forks for Shanghai development. Although a few technical errors were encountered, it was learned that the experiment was successful. Shadow forks are known as a test version of the mainnet and are used by developers to test developments. 

Vitalik Buterin's Secret Addresses Suggestion

Ethereum founder Vitalik Buterin proposed an address hiding system to ensure transaction privacy in Ethereum. Thanks to this system, it is aimed to hide the public addresses of the users in the transactions that take place and to access the assets in a special way.

Short Product-Intensive Entry in Digital Wealth Funds Realized

According to the digital asset funds report published by CoinShares, there was an inflow of $ 37 million this week. The majority of this entry (68%) was in short-selling funds. Most of the transactions took place in Europe.

Cardano Launches Side Chain Tools

Improvements to the Cardano blockchain are underway. Finally, side-chain tools were introduced in the network. These tools will provide different privileges to all shareholders in the ecosystem. These privileges include revenue stream systems for Staking Pool Operators, as well as the introduction of new platforms and a few other innovations.

Who Was Affected by Genesis' Bankruptcy Filing and How?

Genesis, which filed for Chapter 11 bankruptcy on Friday last week, said it had more than $150 million in cash to provide liquidity despite its filing to avoid bankruptcy. There was also a significant change in the creditors listed with the company's bankruptcy, while the presence of the names of the SEC and IRS on the list was noted.

Disconnection Error in Cardano

As a result of a problem experienced on the nodes in Cardano, a "Connection Lost" error is encountered. It was announced that the Input Output team carried out research on the subject and started to work on the solution of this problem, which caused 50% of the nodes on the network to experience connection problems. This problem in Cardano was quickly solved. This was considered a testament to the decentralization and capability of the network.

What Is The Reason For The Price Movement At Axie?

Just before the 4.8 million tokens that will be unlocked on Monday at Axie Infinity were unlocked, AXS rose over 40% on Sunday. As the main reason for this rise, it was a development that was expected to move the price up this time because the price was moved up with the network or game updates that came before similar lockdown situations in AXS. While there is no news from Axie Infinity yet, AXS is the 2nd coin that has spent the last week the best.

Aave Community Votes Ethereum for Version 3

The AAVE community is voting on whether to add Version 3 to Ethereum. If the proposal passes, AAVE will come to the Ethereum blockchain, its first and largest marketplace. AAVE Version 3 is considered the most unique enhancement of the protocol.

Japan's Stablecoin Ban Targeted to Be Lifted in July

In Japan, which took very early and strict steps regarding crypto coins, the use of stablecoins exported from abroad was prohibited in the country. With the new regulation package expected to be implemented, it was announced that stablecoins such as Tether and USDC could be used.

European Union Banks to Impose Stricter Rules on Crypto Assets

European Union politicians are aligning high-risk criteria for banks holding crypto assets with the global supervisory structure. According to the new rules adopted, strict rules will be applied to banks holding crypto assets to meet their capital requirements.

Important Remarks from the CEO of Visa

As it is known, Visa has been working on the adaptation of stablecoin and CBDC since the end of 2021, although not very big steps have been taken. Company CEO Alfred F. Kelly Jr. stated in his statements that blockchain technology can be integrated into many problems and can play an important role in the applications and services of the payment systems of the future.

Grayscale and SEC to Face Off in March

Grayscale took the process to court after the SEC rejected its application to convert GBTC into an ETF. It is learned that on March 7, the two sides will meet in court and evaluate the issue orally.

El Salvador Makes $800 Million in Debt Payments

El Salvador made the $800 million payment, which expired this month. The reason why the news was valuable was the claims that El Salvador would default and the country could collapse. 

US GDP Will Be Released

US growth data will be announced today at 16.30 CET. The growth data, which gives very important signals about interest rate expectations and macro trends, was announced as 3.2% in December against the expectation of 2.9%. The forecast is for the data to fall to 2.6%.

Installs AAVE V3 on the Ethereum Network

AAVE recently held a vote on the community to install Version 3 on the Ethereum network. Following the positive result of the vote, AAVE announced through its social media accounts that V3 was built on the Ethereum network and that Ethereum was AAVE's first and largest marketplace. In addition, with this development, AAVE was accessible to 1.7 million users through Brazil and Argentina.

New Data Support for Polygon in the First Quarter

Blockchain data analytics platform Arkham Intelligence announced that it has added support for its Polygon network in the first quarter. It is thought that the main reason for choosing Polygon is the large user pool and collaborations. As a result of the support plugin, users will have the ability to track, track and identify their wallets more easily.

MakerDAO to Invest $100 Million in Yearn Finance

The MakerDAO community has agreed to invest $100 million USDC in Yearn Finance. This investment will give MakerDAO a 2% annual return. The Maker-Yearn collaboration is known as a development that has been talked about since the end of 2022 and is expected to be announced soon. A vote of directors in the Maker is expected to conclude to complete the process.

Cardano Stablecoin Djed, to be Released Next Week

The new Cardano stablecoin, Djed, is launching next week. Although the day of the release date of the stablecoin, which is known to come next week, is unknown, it is expected to be done before the end of January, that is, on Monday or Tuesday. Djed will be collateralized by the ADA coin and will be over-collateralized between 400-800%. ADA will be the reserve coin of the stablecoin and it is learned that a 3rd coin named Shen will serve as a balancing coin in the reserves against the price fluctuations that may be experienced in the ADA.

The Rise in Aptos Continues

Aptos reached the new ATH region yesterday with a rise above the $ 16 level. Thus, APT managed to rise close to 500% in the last 1 month and rose from $ 3 levels to $ 18. Underneath this rise lie some developments. While NFT activity on Aptos appears to be on the rise, another development is that the founders of the Layer-1 protocol have promised to better communicate with the community.

Goldman Sachs Rates Bitcoin as the Best Performing Asset in the World

Goldman Sachs, one of the world's largest banks that attracted attention with its moves towards blockchain technology and crypto assets in 2022, evaluated Bitcoin as the best performing asset among all assets in one of its publications.

Tesla Balance Sheet Announced

Tesla continued to hold 9,720 Bitcoins as expected in its announced balance sheet. The fact that they sold some of their Bitcoins in the last balance sheet period caused panic selling in the market. It was also seen that Tesla lost $ 34 million from these investments due to the sale at the end of the year alone. Tesla announced an overall balance sheet of $ 24.32 billion, falling short of the expectation of $ 24.68 billion.

TRON Becomes Legal in St Mareen

TRON can be officially recognized by the government of the island of St. Marteen, located in the eastern Caribbean. One of the island nation's members of parliament said that the TRON protocol could be used as blockchain infrastructure and the currency of the TRON coin.

US GDP Comes Higher Than Expected

US growth data (GDP) was released yesterday evening. In the growth data announced as 3.2% last month, the expectation was 2.6% this month. Growth in the economy was announced as 2.9%, above the market expectation.

Polygon Leaves Ethereum Behind in Daily Active Address Data

The number of active addresses of Polygon managed to rise further with the price movement. Polygon managed to increase the number of active addresses to over 340,000 levels. With collaborations and price movements, it was able to increase the number of DeFis on the network by 20%. With the number of active addresses exceeding the 340,000 level, Polygon left Ethereum behind in this area and ranked 2nd after BNB Chain.

Polkadot Rises to the Top in Developer Activities

There has been a significant increase in developer activity of the Polkadot network, which is described as the "blockchain of blockchains". Polkadot took the first place in the data of development activities on the network, leaving Cardano behind. Although developer activity is a positive data about the network, it is not of great importance in terms of pricing and performance. 

Amazon NFT Program May Begin in Spring

Amazon, one of the world's largest technology companies, plans to enter the world of digital assets and NFT in the spring semester of 2023. It is claimed that the company's general focus is NFT-based games and applications, and that they are working on games in the concept of playing games and getting NFT rights in return.

Key Remarks by the Digital Asset Manager of the World Economic Forum

At the meeting held in Davos, one of the most important topics was blockchain adaptation and digital assets. Brynly Llyr, Blockchain and Digital Asset Manager at the World Economic Forum (WEF), who made statements on this subject, stated that she expects the real-world adaptation of blockchain technology to accelerate and advance in 2023.

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 440947.64 TRY

While the aid package is expected to pass from the Senate, on the other hand, the Bitcoin and S&P 500 correlation has risen to a five-month high. The effect of this sentence on cryptocurrencies is quite intense. Rising interest rates in the USA, rhetoric that the corporate tax will be increased and the increase in the UK put pressure on major indices and even altcoins are affected by Bitcoin dominance. BTC, trading at the $ 47,000 level this morning, seems to be with 2.5% sellers. Although it is not a problem with cryptocurrencies, this situation, which is suppressed by the global risk appetite, increases the uncertainty. Speaking yesterday evening, Fed Chairman Powell said that the calmness will be maintained for now for rising interest rates, that the Fed is far from its targets and will use all the tools at its disposal if necessary; The upward pressure in interest rates continued and caused the currencies to be negatively affected.

When we consider BTC / USD technically, the declining trend that occurred in the daily period, the bullish channel that was disrupted in the four-hour period and the TOBO that did not form, rejected the rise. For this reason, there is a technical weakness. Although incoming metric data says that big sellers are stopping, the volumes show us that new buyers are not entering. The double top outlook in the daily period is also preparing downside if the $ 44,000 level is broken. For this reason, it can be considered to put stop loss behind the 44 thousand zone. Currently, there is a response run at $ 46,500, which corresponds to the Fibo'23.6 slice. 48.800 is the resistance zone that corresponds to the Fibo'38.2 slice.

RESISTANCES 49.737 / 52.433 / 54.167
SUPPORTS 45.307 / 43.573 / 40.877

BITCOIN [BTC] 440947.64 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 30280.68 TRY

Ethereum is trading sideways and weak at $ 1470 this morning, keeping up with the weak movements of the general market direction. While the ETH-BTC splitter offers a more positive outlook for Ethereum, there is a general decline due to pressure from the stock and interest market. Goldman Sachs is also entering into cryptocurrency transactions, and 60% of its participants in the survey they have answered that they will increase their crypto assets in the coming period. Ethereum can also get a considerable share of this pie once it enters CME. On the other hand, ERC-20 network charges remain high, even though network charges are falling or not at the height to threaten the price of ETH at the moment.

When we consider the ETH / USD pair technically, the previous $ 1416 peak in the weekly period is currently our major support. Because if it goes under this region, it may turn into "dark cloud cover", which is a declining candle formation in the weekly period. In the four-hour period, TOBO did not occur and refused to cross the neckline, with no approval. The MACD is still on sale. The $ 1470 level is our Fibo'23.6 support, while $ 1416 is our major zone. It is useful to go with a prudent strategy. The outlook is weak and supportive.

RESISTANCES 1565 / 1660 / 1719
SUPPORTS 1410 / 1351 / 1256

ETHEREUM [ETH] 30280.68 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 345.23 TRY

The AVAX / USD pair is retracing 3.5% this morning and its current course is around $ 24.80. AVAX has been integrated into a new trading platform today, along with BTC and USD pairs. This development was welcomed positively for AVAX, whose partnerships gradually increased on the DeFi side. The platform allows AVAX to be staked and AVAX investors to profit from it.

The AVAX / USD pair remains horizontal between $ 22.00, the starting point of Fibonacci, and $ 31.00, which coincides with the Fibo' $ 23.60 level. The $ 31.00 level working as resistance pushed the pair to the current level of $ 24.80 as the hourly price candles gradually weakened in the last 3-day period. Initial support is at $ 22.00. Oscillators have begun to leave the negative zone. Stochastik,% R and RSI with the ends pointing up are thus giving a positive signal in the 4-hour period. For this reason, an upward reaction can be watched in the short term before reaching the support level. However, the view is quite horizontal.

RESISTANCES 26,7564 / 29,4900 / 31,1048
SUPPORTS 22,4080 / 20,7932 / 18,0596

AVALANCHE [AVAX] 345.23 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 7.80 TRY

The previous day, Ripple co-founder Brad Garlinghouse announced on Twitter that he had written a five-page denial of action to the SEC. Today, the lawyers of Chris Larsen, board member and co-founder, sent a letter to the New York court. In the letter, it was emphasized that the SEC's allegations were unfounded and could not prove their accusations. XRP saw a 6% price increase after the letter details were released. On the other hand, Ripple, which has recently announced its work on central banks, is trying to eliminate the negative impact of the litigation process by making strong breakthroughs. It is seen that XRP, which was not listed in many exchanges after the lawsuit, also increased its transfer volumes. Before moving on to the technical part, we should state that XRP has not technically reflected this, as well as the macro indicators gaining strength. However, we can say that the postponed valuations can spread to a more accelerated process. Still, it remains a key point for the potentially strong XRP project.

When the XRP / USD pair is technically analyzed, it is seen that the reaction from the $ 0.46 zone led the pair up by 6%, and then returned to the overall $ 0.46 old support zone. When the support zone specified during the day is followed, but when the chart is analyzed hourly, it is observed that the price movements here are unstable. On the other hand, as volume pulls itself down, momentum also peaks in CCI. For possible pullbacks, the $ 0.41 zone becomes the main support and reaction level.

RESISTANCES 0,4885 / 0,5187 / 0,5424
SUPPORTS 0,4346 / 0,4109 / 0,3807

RIPPLE [XRP] 7.80 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 1675.54 TRY

LTC / USD parity appears on the last day of the week with prices in the region of $ 172. Litecoin has lost 5% on a daily basis, but Grayscale's purchase of Litecoin for the last month means demanding most of the Litecoin supply produced, and at the 24-hour exchange, 2500 LTC contracts were bought by Grayscale. However, it is inevitable that the negative developments on the Bitcoin side will also affect LTC prices, because Litecoin is one of the market leaders with the highest correlation with BTC. In the upcoming period, we can expect the intense interest on the Litecoin side to reflect positively on their valuations against the dollar.

When the LTC / USD parity is analyzed technically, it is seen that the pricing is above the $ 171 level in the Fibo'23.60 tranche. We can say that 23.60% of the Fibonacci retracement could work as strong support for LTC from where we can see upward reactions. On the other hand, when the Stochastik,% R and RSI indicators are analyzed, we can say that they are very close to the oversold zones and the reactions from here tend to be positive.

RESISTANCES 184,61 / 198,75 / 206,76
SUPPORTS 162,46 / 154,45 / 140,31

LITECOIN [LTC] 1675.54 TRY +7.00 +0.03 VOL 21 LTC

Although LINK is experiencing a 4% retracement this morning, it has lost 10% in the 24-hour period, but remains in the 7% plus zone for weekly returns. On the other hand, with the increasing popularity and widespread use of cryptocurrencies and payment procedures, we see that LINK has also been integrated into many platforms. The previous day, a booking company that appeals to thousands of users and a platform that provides staking and interest income on cryptocurrencies, they started to support LINK as a payment and staking tool.

The LINK / USD pair broke down the $ 28.90 level, which is the main support zone, and accelerated the loss of the price here, by succumbing to the sell-off course. The correction experienced ended with the testing of $ 25.60, the middle band of the channel formed in the sagging regions, and a 5% response was recorded from here. Price candles above the $ 27.30 channel upper band may create a calm but positive course with the pair holding onto the bullish channel.

RESISTANCES 28,99 / 31,64 / 33,29
SUPPORTS 24,69 / 23,04 / 20,39

BASIC ATTENTION TOKEN [BAT] 4.98 TRY

Brave platform, which enables Basic Attention Token to be integrated and accumulated as it is used, announced a new partnership. The company stated that it will make improvements through another browser that it has purchased, and that it aims to offer a new browser that works at Google standards and is also privacy-focused. Although detailed information about the process is not yet available, upgrades on Brave will continue to be positive for BAT. It would not be wrong to say that Brave's increasing potential day by day also positively affects the general course on BAT.

When the BAT / USD parity is analyzed technically, it is seen that Basic Attention Token, which has retreated by 4% on a daily basis, is priced in the $ 0.66 region. The uptrend that started as of February 23 is preserved, even the reactions are in the direction of the trend and more accelerated for the last few days. The chart retraces a little after the strong rise that it previously gave its signals and is holding on to the Fibo'78.60 retracement zone. The current correction zone in the $ 0.66 zone could be the support zone for the chart. We can say that the flag is still continuing, although the $ 0.56 level, where the flag formation started, is the point where the minor uptrend has passed.

RESISTANCES 0,7399 / 0,8314 / 0,8849
SUPPORTS 0,5949 / 0,5414 / 0,4499

BASIC ATTENTION TOKEN [BAT] 4.98 TRY +7.00 +0.03 VOL 21 BAT

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