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WEEKLY CRYPTOCURRENCY NEWS

Flare Network Adds XLM

Flare Network, which previously held airdrops for XRP, announced that it will add the Stellar network to its ecosystem. Thus, XLM can be used in scalable smart contracts.

Google Finance Starts to List Cryptocurrency

Google Finance also added cryptocurrencies to finance.google.com. Thanks to the prices listed under the "Crypto" section, Google Finance users will now be able to reach the latest state of the cryptocurrency market with a single click.

Goldman Sachs Comments Bitcoin and Gold Rivalry

Banking giant Goldman Sachs analysts stated that Bitcoin and gold are not in competition, but that the two assets can grow and gain value together. Additionally, Goldman Sachs argued that the two entities had a different place in the portfolio.

Chainlink Announces New Collaboration

The Kava DeFi platform chose Chainlink as its official oracle solution. Thus, Chainlink oracles will power all DeFi products to be built on Kava. The main purpose is to move reliable decentralized finance products to the most successful and efficient place possible.

AVAX and Phantom Partnership Announced

The partnership between DeFi project Fantom and AVAX, which is the 49th largest cryptocurrency in market value, was a happy development for both parties. Thanks to the partnership, these two blockchains will be connected to multiple chains.

Mastercard Will Not Support Bitcoin in the Near Future

Mastercard announced in its February 10 statement that it would add cryptocurrencies to the payment network, but did not specify which cryptocurrencies they were. In its current statement, the company stated that they do not think of Bitcoin in the near term because its volatility is high and the transaction speed is very slow.

New Version of XRP Ledger Released

According to the statement made by Ripple developers, the new version of the XRP Ledger, which was created to improve and improve the system usage and increase the efficiency of the software in various server configurations; It plays a key role for the Ripple team and XRP users.

500 BTC Ransom Requested from Tether

Tether, the issuer of the USDT stablecoin, claims to have received 500 Bitcoins (worth about $ 23 million) ransom notes. In the announcement made on Twitter, it was reported that the investigation of this extortion attempt disclosed by Tether will continue.

Giant Mutual Fund Will Sell BTC and Receive DOT and ADA

Dubai-based cryptocurrency fund FD7 Ventures announced that it will buy Polkadot and Cardano by selling $ 750 million of Bitcoin under its auspices. The company, which has a net worth of over $ 1 billion, mostly Bitcoin, will make its sales within a month.

Miami Mayor Responds To Yellen

Miami Mayor Francis Suarez said he was not surprised by Treasury Secretary Yellen's recent statements. In addition, "What is attractive to people who invest in Bitcoin is that it is precisely that it is not supported by a central government. So it cannot be manipulated by the central government." made the explanations.

Asset Management Company Stone Ridge Establishes BTC Fund
Stone Ridge, a New York-based company with $ 13 billion in assets under its auspices, has applied to the US Securities Commission (SEC) to purchase Bitcoin.

Goldman Sachs Restarts Its Crypto Service

According to Reuteurs' exclusive report, Goldman Sachs will launch Bitcoin futures for its clients starting next week. In the work to be done, research on blockchain technology and CBDCs as well as Bitcoin trading will continue.

CitiBank: BTC May Be The Preferred Currency For International Trade

CitiBank analysts, who previously set a target of $ 318,000 for Bitcoin, stated that BTC is an important milestone in the current article they published on cryptocurrencies. According to the bank, Bitcoin is rapidly moving towards becoming a mainstream currency.

Luxury Car Brand Accepts Crypto Payments
Mazzanti, the Italian supercar manufacturer, has become the first automobile brand in the world to raise funds with cryptocurrencies and provide revenue share to its investors with STO. In addition, the company allows all versions of the model called Evantra to be paid in Bitcoin.

Ministry of Finance Made a Statement on Cryptocurrencies

T.R. Treasury and Finance Ministry a statement indicating that the cryptographic developments on issues related to Turkey's crypto followed the money and the situation in the money released. He stated that CBRT, BRSA, CMB and other relevant institutions are working on cryptocurrencies in cooperation.

Japanese Electronics Giant to Support Cryptocurreny

Rakuten, known as the Amazon of Japan; announced that customers can now use cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash. With the support of crypto assets, the payment service covers a wide range of products.

Ripple Will Offer NFT Support

Wietse Wind, founder of XRP Labs, announced the work to add NFT to its XRP Ledger. Witse Wind also emphasized that NFT transactions on the XRP Ledger will work differently than transactions on other blockchains such as Ethereum.

SEC Releases New Statement

The U.S. Securities and Exchange Commission (SEC) has released an eight-page document detailing the framework under which it will examine digital asset investments. According to the released document, the SEC has made it clear that digital assets will face similar levels of scrutiny as traditional securities.

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 352736.62 TRY

The increase in bond interest rates, which started with 10-year bonds in the USA and jumped to Japan, cannot be prevented. The pressure on interest rates is suppressing even the safe haven gold, which has no other income than indices, cryptocurrencies and value return. Bitcoin is trading at $ 45,700 this morning, down 3%. We see that whale accounts concentrate on buying Bitcoin and $ 5 million worth of BTC is transferred between accounts. Tier purchases were also tight in the previous day $ 44,800 trials. However, while the amount of BTC transferred from exchanges to wallets increased, the Grayscale fund bought BTC yesterday. In addition, the GBTC fund's premium risk has dropped to negative for the first time in its history. This situation can trigger buyers by putting BTC to the forefront of being discounted.

When we look at BTC / USD technically, we see reaction purchases on the hourly chart at $ 45,500. As long as it does not drop below the $ 45,500 level, it will confirm the double bottom. Due to the fact that monthly volatility is 85%, the "zigzag" movements in daily transactions direct investors to transactions at a shorter distance. Trading at volatility requires a little more agility. The outlook is volatile and the horizontal trading strategy continues.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

BITCOIN [BTC] 352736.62 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 11084.34 TRY

The increase in bond interest rates, which started with 10-year bonds in the USA and jumped to Japan, cannot be prevented. The pressure on interest rates is suppressing even the safe haven gold, which has no other income than indices, cryptocurrencies and value return. Bitcoin is trading at $ 45,700 this morning, down 3%. We see that whale accounts concentrate on buying Bitcoin and $ 5 million worth of BTC is transferred between accounts. Tier purchases were also tight in the previous day $ 44,800 trials. However, while the amount of BTC transferred from exchanges to wallets increased, the Grayscale fund bought BTC yesterday. In addition, the GBTC fund's premium risk has dropped to negative for the first time in its history. This situation can trigger buyers by putting BTC to the forefront of being discounted.

When we look at BTC / USD technically, we see reaction purchases on the hourly chart at $ 45,500. As long as it does not drop below the $ 45,500 level, it will confirm the double bottom. Due to the fact that monthly volatility is 85%, the "zigzag" movements in daily transactions direct investors to transactions at a shorter distance. Trading at volatility requires a little more agility. The outlook is volatile and the horizontal trading strategy continues.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

ETHEREUM [ETH] 11084.34 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 3.16 TRY

The XRP / USD pair retraces 1.5% this morning, pricing at $ 0.43. At the beginning of the week, the desire to move away from the volatile assets that dominate the entire crypto money market or to make a short distance profit caused the investor to apply the strategy of take profit in the short term, wait for a purchase, and we saw sales based on cryptocurrencies in the market. Ripple has survived this period strongly and did not differentiate negatively from other cryptocurrencies without seeing extra selling pressures due to the lawsuit with the SEC. For this reason, we can say that the effect of the litigation process on Ripple has been alleviated, and we can expect XRP to keep up with the market in the next period.

When looking at the XRP / USD pair from a technical point of view, it is seen that pricing has retreated, unable to stabilize here, as the $ 0.47 level in the Fibo'38.20 correction has become a resistance zone. As we mentioned in our bulletin yesterday, this zone is also the breakdown zone of the reverse pennant formation. This signaled that if the breakdown was downward, the sales trend would accelerate, and then a 13% decline was observed. The reverse pennant points to $ 0.30 levels, but this is the point where the uptrend since January has passed. For this reason, withdrawals turn into gradual purchases. On the other hand, the $ 0.43 Fibonacci retracement can be expected to be a critical support level of 23.60% and the chances of reaction to arise above this level.

RESISTANCES 0,4682 / 0,5080 / 0,5361
SUPPORTS 0,4003 / 0,3722 / 0,3324

RIPPLE [XRP] 3.16 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 1292.64 TRY

Although Litecoin is sold 10 points more weekly than BTC, it is expected that the last update code of the MimbleWimble update will be completed by March 15. For this reason, it supports our expectations in the upcoming processes for LTC, which is an expected development in its projection.

When we consider LTC / USD technically, Litecoin, which we discuss in the weekly period, continues to target $ 270. Although the decline in the market has postponed the expectations, our major support point of $ 150 in retractions and staying above this point also maintains the target expectations in our technical projection. In terms of outlook, we cannot see a clear recovery for now, although the reactions try to complete above $ 170. The outlook is volatile and horizontal as of morning hours.

RESISTANCES 194,13 / 217,28 / 229,56
SUPPORTS 158,70 / 146,42 / 123,27

LITECOIN [LTC] 1292.64 TRY +7.00 +0.03 VOL 21 LTC

The LINK / USD pair fell 1.5% this morning to $ 24.30. The update announced the previous day was a very successful step on the LINK side because the number of smart contracts on the network is breaking another record every day and we do not want the Ethereum scenario to happen on the LINK side. However, with this update, it is promised that transactions in the Chainlink network will accelerate ten times and will appeal to wider areas of use. Although we have not yet seen the positive reflection of this on the parity, we attribute the reason for now to the decrease in risk appetite in global indices and worldwide. However, in the future, it is possible to witness that the demand is more concentrated on LINK than it is.

When the LINK / USD parity is considered technically, it is seen that the pricing has lost more than 15% in a few candles of 4 hours, but it is known that these losses are quickly compensated considering the monthly (20%) and annual returns (860%) of LINK. The pair is located at $ 24.70 on the Fibo'23.60 zone, which is a strong support level. Upward reactions from here may bring the levels of $ 28.90 to the agenda. On the other hand, the pair is signaling a double bottom formation and this level will also be the region where the double bottom pattern will confirm. Thus, more favorable pricing may be possible for LINK

RESISTANCES 27,54 / 30,47 / 32,21
SUPPORTS 22,87 / 21,13 / 18,20

BASIC ATTENTION TOKEN [BAT] 4.33 TRY

Basic Attention Token is one of the coins that came to the fore with the BAT fund that Grayscale will buy into its own body. It is almost 40% below its February 12 record of $ 0.71. While we think the Grayscale news is priced for BAT and record highs in the pair, implementing this action could quickly increase BAT-oriented institutional interest.

If we consider the BAT / USD pair technically, it seems that pricing is above the $ 0.45 support. The dual correction combination consisting of the Fibo fan curves after the $ 0.39 dip in the decline from the record level works well. Therefore, the 10-point zone between the fan slopes and 0.42 support works horizontally. However, since the 0.5450 zone, which is the 50% zone, has not been passed, we cannot say that the correction is over for now. The look is horizontal but playful.

RESISTANCES 0,5138 / 0,5674 / 0,5954
SUPPORTS 0,4322 / 0,4042 / 0,3506

BASIC ATTENTION TOKEN [BAT] 4.33 TRY +7.00 +0.03 VOL 21 BAT

AVALANCHE [AVAX] 199.82 TRY

The AVAX / USD pair is trading at $ 26.30, with a 1.3% retracement this morning. The coins on the DeFi sector, which increase the market value and increase user interest day by day, thus successfully increase their pricing on the stock exchanges. The previous day, the coin called Fantom and AVAX announced their cooperation, and Fantom ranks 49th in terms of market value, and is among the DeFi projects. Thanks to this collaboration, we can say that the developers of AVAX have drawn a forward-looking portrait of trust in the eyes of investors. Within the scope of the project, it is planned to create two block chains linked with multiple chains.

When the AVAX / USD parity is analyzed technically, it is seen that the declining channel that started to form on February 10 continues and weakens the parity. Still, we are close to the $ 25.00 strong support zone, and earlier reactions brought 30% gains with it. If there is a similar reaction, the situation of exceeding the $ 32.60 level and leaving the bearish channel may be on the agenda again. But this is also the 23.60% zone of the Fibonacci retracement and serves as strong resistance. The view is yet horizontal.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

AVALANCHE [AVAX] 199.82 TRY +7.00 +0.03 VOL 21 AVAX

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