DAILY CRYPTOCURRENCY NEWS

Number of ETH Investors at an All-Time High, According to On-Chain Data

The number of Ethereum addresses holding ETH is at an all-time high. However, the number of transactions on the network is also close to record levels, which indicates that user activity continues to increase. According to on-chain data, Ethereum addresses with a balance are now over 68,26 million in total. This figure has rarely fallen, despite the harsh price history of the last year, and managed to maintain stable growth and the June - August period.

JPMorgan Manager Says Crypto Is At "Napster" Stage of its Life Cycle

An executive from JPMorgan says that the crypto markets were at the same point as the music broadcasting industry in the 1990s. Speaking to The Financial News, Umar Farooq, Head of the banking giant's digital asset unit Onyx, says that the cryptocurrency markets are in the era of "Napster". In 1999, Napster was the first peer-to-peer file sharing platform where people distributed music before the launch of more regular platforms such as Spotify or Apple Music.

Survey Shows 25% of US Adults Plan to Invest in Crypto

A US consumer survey shows that 25% of respondents who do not currently have cryptocurrency plan to invest in cryptocurrency. 2021 was a good year for cryptocurrencies. More than half of the participants who own cryptocurrency reported that they started investing in the sector last year.

Singapore Restricts Cryptocurrency Ads

The Central Bank of Singapore has published guidelines to discourage cryptocurrency trading by the general public. The central bank stressed that "cryptocurrency trading is quite risky and not suitable for the general public."

Bitcoin Dominance Rate (BTCD) Reaches Lowest Weekly Close Since 2018

BTC Dominance has been falling sharply since January 2021, when it reached a high of 73.63%. Since the beginning of May, it has been hovering just above the 40% horizontal support area that has been in place since 2018.

Bitcoin Supply Shock: Only 12% of BTC Supply is on Exchanges

According to the CryptoQuant post, the percentage of BTC supply stored on the exchanges has fallen to 12%. The entire stock market reserve is an on-chain indicator that measures the total amount of Bitcoin currently held in the wallets of all exchanges. The all-time high of the indicator (ATH) was made around 16. Since then, the metric has been falling steadily.

Spanish Government Will Implement New Rules for Crypto Advertising

The Spanish financial regulator Comisión Nacional del Mercado de Valores, or CNMV, has announced new regulations for advertising crypto-asset investments. According to the new legislation, which will come into force on February 17, 2022, crypto ads must be "clear, balanced and fair" and provide sufficient information about the risks involved in investing in crypto.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359390.54 TRY

Bitcoin lost a 0,30% value during morning hours; the current price is $42.063. According to the CryptoQuant post, the percentage of BTC supply stored on the exchanges has fallen to 12%. The entire stock market reserve is an on-chain indicator that measures the total amount of Bitcoin currently held in the wallets of all exchanges. The all-time high of the indicator (ATH) was made around 16. Since then, the metric has been falling steadily.

When we consider the BTC/USDT pair technically, BTC continues price action below the downtrend as of November 10. MACD gives a buy signal, and there is a positive divergence in the daily chart. Furthermore, the 50MA intersected with the 200MA level, and a death cross formed. In addition, considering the sales pressure on digital assets, the decline can be expected to continue a little longer.

RESISTANCES 42.765 / 43.512 / 44.103
SUPPORTS 41.427 / 40.836 / 40.089

BITCOIN [BTC] 359390.54 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24629.67 TRY

Ethereum lost a 1,00% value during morning hours, and the current price is $3178,55. The number of Ethereum addresses holding ETH is at an all-time high. However, the number of transactions on the network is also close to record levels, which indicates that user activity continues to increase. According to on-chain data, Ethereum addresses with a balance are now over 68,26 million in total. This figure has rarely fallen, despite the harsh price history of the last year, and managed to maintain stable growth and the June - August period.

When we consider the ETH/USDT pair technically, ETH went above the uptrend as of August, finding support at $2985. But this trend could not hold on and broke it downwards. This morning it retested the trend but faced a resistance and continued its downward price movement. Also, yesterday it had closed the day below $3261 (Fibo'61,80). The next support level is $2985.

RESISTANCES 3272 / 3365 / 3431
SUPPORTS 2954 / 3047 / 3113

ETHEREUM [ETH] 24629.67 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 320.01 TRY

AVAX lost a 0,50% value during morning hours, and the current price is $86,25. When we consider the AVAX/USDT pair technically, AVAX had retreated to $79.80 (support level) in the weekly chart and surged, after finding support. Yesterday AVAX broke $86,62 (Fibo'50), and as we mentioned in the daily bulletin, a pullback towards $79-83 might occur.

RESISTANCES 88,87 / 91,61 / 93,38
SUPPORTS 79,85 / 82,59 / 84,36

AVALANCHE [AVAX] 320.01 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.78 TRY

Ripple lost a 1,00% value during morning hours, and the current price is $0,7533. When we consider the XRP/USDT pair technically, XRP broke the downtrend on December 21 along with the general market movement last week, but no momentum occurred. There is no reversal signal, so we expect Ripple to retreat towards $0,7121.

RESISTANCES 0,7680 / 0,7830 / 0,7964
SUPPORTS 0,7112 / 0,7262 / 0,7396

RIPPLE [XRP] 8.78 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.56 TRY

LTC lost a 3,40% value during morning hours, and the current price is $146,1. When we consider the LTC/USDT pair technically, LTC had broken the downtrend as of November. So, a momentum followed and the next resistance level of $145 was broken too. As we mentioned in the daily bulletin yesterday, it could hold onto the level and surged towards $153 (50MA). As of this morning, it faced resistance at $153 and retreated to $145.

RESISTANCES 152,04 / 158,39 / 162,25
SUPPORTS 131,62 / 137,97 / 141,83

LITECOIN [LTC] 989.56 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 1,10% value during morning hours, and the current price is $23,52. When we consider the LINK/USDT pair technically, LINK continues price action inside the ascending channel as of July 2020 in the weekly chart. Yesterday it broke the level of $24,85 (200MA) downwards and retracements continued towards $23,40 (ascending triangle formation). So, LINK could not hold onto the 200MA, we expect the pullbacks will continue.

RESISTANCES 24,69 / 25,85 / 26,55
SUPPORTS 20,98 / 22,14 / 22,84

BASIC ATTENTION TOKEN [BAT] 5.66 TRY

BAT lost a 0,90% value during morning hours, and the current price is $1,0016. When we consider the BAT/USDT pair technically, the outlook stays same. BAT had broken the uptrend as of November last Thursday and closed the day below. Along with the slight volume ups over the weekend, BAT retested this trend, but faced a resistance and dropped. If the trend for the BAT does not break upwards again, we expect that the price movement towards $0,95 will continue.

RESISTANCES 1,0296 / 1,0557 / 1,0723
SUPPORTS 0,9442 / 0,9703 / 0,9869

BASIC ATTENTION TOKEN [BAT] 5.66 TRY +7.00 +0.03 VOL 21 BAT

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