DAILY CRYPTOCURRENCY NEWS

Polkadot's Moonbeam Shares First Statistics: 3+ Million Transactions, 200K+ Wallet

Moonbeam Network, the first smart contract platform for dApps in Polkadot's (DOT) cross-network ecosystem, is active for two months. Its developers shared a summary of the first milestones accomplished. According to the data, 225 million worth GLMR tokens were staked,  over three million transactions authorized by 200,000 active accounts so far.

Ethereum's Gets Upgraded Testnet

As the full upgrade nears, it appears Ethereum has fully attached to this year's plan. Marius van der Wijden, one of Ethereum's core developers, announced the launch of the final testing network in a post on March 10th. A test network is a blockchain version that allows developers to try out new features without affecting the main network. When developers want to add or update new functionality, they can make sure that the upgrade has a comprehensive 
test.

PwC Report Says NFTs Are "The Future Digital Assets In Sport"

NFTs and digital assets are one of the ten main trends in the sports industry, according to the Consulting company Price Waterhouse Coopers' (PwC) Sports Outlook 2022 report for North America. From changing sports technology infrastructure to increasing fan engagement, the report lists three main examples of NFTs' use and their probability of shaping the future of sport.

Ethereum (ETH) Will Dominate Web 3.0 Future, According to Polygon (MATIC) Founder Sandeep Nailwa

Co-founder of Ethereum (ETH) scaling solution Polygon (MATIC) Sandeep Nailwal is optimistic that ETH will rule the third generation of the internet. In a new interview with crypto channel host Scott Melker, Nailwal said Ethereum could overwhelmingly dominate Web 3.0, an internet version of platforms that is decentralised and where users control their own data.

Singapore to Tax Income Generated From NFT Transactions

According to the latest report by The Business Times, Singapore's Finance Minister Lawrence Wong told parliament that the applicable income tax rules would apply to revenue from NFT transactions or trading. Wong explained that due to the lack of a capital tax regime in Singapore, those who earn capital gains from NFT transactions will not be subject to tax.

Goldman Sachs' ETH Service

Wall Street's adoption of digital assets shows no signs of slowing down. This week, a filing by the United States Securities and Exchange Commission (SEC) revealed that multinational investment bank Goldman Sachs is quietly offering its clients the service of investing in Ether (ETH) through Galaxy Digital, a crypto-focused financial service provider managed by billionaire Mike Novogratz.

Ripple's Most Recent “Big Win” Against the SEC

Ripple executives and the XRP community are happy about a positive decision taken Friday in the SEC lawsuit. Brad Garlinghouse, CEO of Ripple, described the verdict as a “big win”, adding that the case would now attract more attention.

Large Balance Accounts in Bitcoin Transaction Volumes

The new data revealed the important role of institutional investors in Bitcoin transactions as Bitcoin continues to experience hard price fluctuations. According to data provided by IntoTheBlock, organizations currently account for more than 99% of the total Bitcoin volume resulting from transactions with a value of over $100,000. The report states that corporate interest in crypto has accelerated since the third quarter of 2020 when the share of large transactions never dropped below 90%.

Avalanche Staking Rate Reaches 50%

According to WuBlockchain reports, the staking rate of the Avalanche network exceeded 50%. Most stakers are located in the United States and use Amazon Cloud Services to verify the network. According to the journalist, the staking rate for the network is expected to increase in the future.

Proof-of-Work Debates Again in EU Parliament

Crypto Asset Markets (MiCA), the latest draft of the legal framework proposed by the European Union (EU) to control digital currencies, still contains a clause that could prohibit the usage of proof-of-work cryptocurrencies. 
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358833.84 TRY

Bitcoin gained a 1,90% value during morning hours and is priced around $38.501. The new data revealed the important role of institutional investors in Bitcoin transactions as Bitcoin continues to experience hard price fluctuations. According to data provided by IntoTheBlock, organizations currently account for more than 99% of the total Bitcoin volume resulting from transactions with a value of over $100,000. The report states that corporate interest in crypto has accelerated since the third quarter of 2020 when the share of large transactions never dropped below 90%.

When we consider the BTC/USDT pair technically, we see that there was a horizontal market at the weekend. In BTC, which broke the uptrend that existed as of February 24th on the 4-hour chart, BTC retested the trend from below with the statement made by Elon Musk this morning but did not break the trend. When retreating, the first support level to follow is $37.200 and $34.500.

RESISTANCES 39.257 / 40.019 / 40.847
SUPPORTS 37.667 / 36.839 / 36.077

BITCOIN [BTC] 358833.84 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24612.39 TRY

Ethereum gained 2,20% value during morning hours and is priced around $2596. As the full upgrade nears, it appears Ethereum has fully attached to this year's plan. Marius van der Wijden, one of Ethereum's core developers, announced the launch of the final testing network in a post on March 10th. A test network is a blockchain version that allows developers to try out new features without affecting the main network. When developers want to add or update new functions, they should make sure that the upgrade is thoroughly tested before going live.

When we consider ETH/USDT pair technically, which is dominated by the price movement on the 4-hour period, shows a price movement just above the uptrend as of February 24. If the short-term uptrend breaks downwards and daily close occurs, a retreat to the previous dip level of $2400 might follow.

RESISTANCES 2617 / 2664 / 2726
SUPPORTS 2398 / 2446 / 2508

ETHEREUM [ETH] 24612.39 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.33 TRY

AVAX gained a 1,20% value during morning hours and is priced around $68.84. According to WuBlockchain reports, the staking rate of the Avalanche network exceeded 50%. Most stakers are located in the United States and use Amazon Cloud Services to verify the network. According to the journalist, the staking rate for the network is expected to increase in the future.

When we consider the AVAX/USDT pair technically, AVAX had a stagnated price movement as of January but broke the downtrend on February 24 and closed the day below this level. In AVAX, which started the day with a slight increase this morning, the appearance is negative in the weekly period. As long as it sustains below the trend, we expect the price movement to continue towards the previous dip level, $55.

RESISTANCES 71,44 / 74,31 / 76,64
SUPPORTS 61,04 / 63,91 / 66,24

AVALANCHE [AVAX] 318.33 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.80 TRY

Ripple gained a 0,86% value during morning hours and is priced around $0,7654. Ripple executives and the XRP community are happy about a positive decision taken Friday in the SEC lawsuit. Brad Garlinghouse, CEO of Ripple, described the verdict as a “big win”, adding that the case would now attract more attention.

When we consider the XRP/USDT pair technically, XRP, which broke the downtrend upwards along with the positive decision taken on Friday, retests this trend when retreating at the weekend. Holding above the 50MA level is important in XRP, where sharp sales follow. As long as it sustains, it will continue to rise towards the previous peak level.

RESISTANCES 0,7984 / 0,8304 / 0,8565
SUPPORTS 0,6822 / 0,7142 / 0,7403

RIPPLE [XRP] 8.80 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.62 TRY

Litecoin gained a 2,00% value during morning hours and is priced around $104. When we consider the LTC/USDT pair technically, there is no major change in the outlook. LTC, which continues to move below the downward trend that has not broken despite the force, is now priced below the level of $104.9. Although the recovery in RSI continues despite the price plunging, we do not expect permanent rises without the breakout of a downtrend.

RESISTANCES 106,65 / 109,65 / 112,47
SUPPORTS 95,01 / 98,01 / 100,83

LITECOIN [LTC] 987.62 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 2,90% value during morning hours and is priced around $13.11. When we consider the LINK/USDT pair technically, there is no major change in the outlook, the stagnated price movement continues. LINK has price action inside the horizontal channel as of May 26 and lost the lower line recently. $13.50 level is an important pivot point for LINK, which has lost a strong support level, even though positive divergence is sustained on the daily chart.

RESISTANCES 13,47 / 13,86 / 14,30
SUPPORTS 11,82 / 12,21 / 12,65

BASIC ATTENTION TOKEN [BAT] 5.61 TRY

BAT gained a 1,20% value during morning hours and is priced around $0,6819. When we consider the BAT/USDT pair technically, BAT continues price action below the downtrend on November 28. BAT, which also fell to the support zone in the $0.64-0.70 band, had a positive divergence in RSI on the daily chart. Although the downtrend in BAT, which rose yesterday with this approval and positive news flow, has been tried many times, it has not broken down yet. For BAT, which has started to price again in the blue zone, the upward breakout of the downtrend will trigger the upward movement.

RESISTANCES 0,7268 / 0,7726 / 0,8051
SUPPORTS 0,5702 / 0,6160 / 0,6485

BASIC ATTENTION TOKEN [BAT] 5.61 TRY +7.00 +0.03 VOL 21 BAT

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