DAILY CRYPTOCURRENCY NEWS

Market Value of Stabilcoins Exceeds $ 20 Billion


Stablecoins have an important place in the crypto ecosystem. According to CoinMetrics data, the total value of stablecoins has exceeded $ 20 billion. Tether takes its place as the leading stablecoin with a value of over $ 15 billion among the stablecoins, which has grown by 300% in market cap since the beginning of the year.

In BTC Options Open Position Record Was Broken

On Friday, September 25 was the last day of Bitcoin and Ethereum options and futures contracts. Despite the expiry date, the number of open positions in options broke a record by reaching $ 2.14 billion. The previous record was seen on July 30, 2020, with $ 2.11 billion.

Foundation Established To Improve Ripple Infrastructure

A ripple-supported, non-profit organization was established to accelerate and improve the development of XRP. The organization, called the XRP Ledger Foundation, has raised a total of $ 6.5 million in donations from Ripple, Coil, and Gatehub.

Cryptocurrency Question From IRS

The U.S. Internal Revenue Service (IRS) has added a cryptocurrency question to its annual personal income tax form. The 2019 form also contained a question about the use of cryptocurrencies, but it was not mandatory to answer it. This year, citizens are required to answer the question, which signals that the United States will accelerate its efforts to tax cryptocurrency revenues.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 350916.77 TRY

Bitcoin’s realized market cap is now higher than the end of 2017, in which BTC prices were at ATH with 20,000 $. To clarify, a realized market cap is used for determining the total costs of investors. On the other hand, more than 72% of active addresses is profitable. Additionally, the news on newly opened addresses shows that the interest in Bitcoin is gradually increasing. While there are newcomers among the long-term investors who await a consistent uptrend.
 
This morning Bitcoin gained over 1% while futures came along with an important rise. Spot price getting close to 10,800 levels and critical resistance. Moreover, Bitcoin is trying a breakout on the downtrend that it’s having since august. 10,800 showed as a reversal point for the last week and major support while a breakout from this point can lead BTC prices to a movement between 11,200-11,500. 

RESISTANCES 10,835/ 10,980/ 11,140/ 11,440
SUPPORTS 10,770/ 10,550/ 10,400/ 10,200

BITCOIN [BTC] 350916.77 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24504.57 TRY

After the sharp decline from last week, Ethereum fell back to 313 levels, later on, ETH had a recovery from these levels in which it moved up to 360. Today ETH gained around 1% while there’s no major news that can affect the uptrend and prices. Meanwhile, as Glassnode stated the number of addresses that contain 1 and more ETH had a 2 year low. 

Furthermore, Ethereum is still following the uptrend that is started on the 13th of March from 90$ levels. Also, the downtrend which started on the 1st of September is expected to test 490$ levels this week. Technically Ethereum seems strong with a realized bottom on 313 USD levels but it doesn’t have major news that can support the movement. In a conclusion, Ethereum seems positive technically with a double bottom.  

RESISTANCES 364/ 371/ 378/ 383
SUPPORTS 350/ 344/ / 336/ 332

ETHEREUM [ETH] 24504.57 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 8.24 TRY

RESISTANCES 0,2485/ 0,2530/ 0,2610/ 0,2650
SUPPORTS 0,2375/ 0,2310/ 0,2240/ 0,2200

RIPPLE [XRP] 8.24 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 973.04 TRY

RESISTANCES 47,50/ 49,50/ 51,30/ 53,90
SUPPORTS 45,30/ 43,00/ 41,50/ 39,20

LITECOIN [LTC] 973.04 TRY +7.00 +0.03 VOL 21 LTC

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