DAILY CRYPTOCURRENCY NEWS

SEC Positively Approaches Tokenization

In a seminar he attended, SEC Chairman Clayton stated that the markets have become highly digitalized in the last 20 years and stated that he believes in Blockchain technology and that it may be good to tokenize stocks.


 

New Record From Ethereum Network

Gas usage in the Ethereum network has reached its peak in the past 2 years. In addition, the average transaction fees were recorded as $ 12 last month, approaching almost an all-time high.


 

DeFi Loss 50% in Value

DeFi, one of the most important actors of the cryptocurrency industry since the beginning of 2020, has lost more than 50% in value since the end of August. The DeFi index created with many DeFi tokens dropped from around $ 1200 to $ 520.


 

Bitcoin Volatility Falls

According to CoinMetrics data, the volatility of Bitcoin has decreased by 43% in the last 1 month. In addition, BTC, which is expected to fall further with the news of Trump's coronavirus positive and the international cryptocurrency platform being sued, moved only 5% and reached the lowest volatility level in the last 6 months.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359903.28 TRY

Bitcoin is positioning right behind the resistance with a 1% increase in this morning and it’s traded at 10,720 $. Bitcoin’s volatility dropped by 43% as it has been affected by the congestion on prices, the uncertainty of the new stimulus package, and Trump’s COVID-19 test being positive. Lastly, the precautions for the second wave of COVID can affect the cryptocurrency market which Bitcoin leads. As can be remembered, all financial markets were losing value while the first wave of COVID was effecting the markets, therefore the dollar was raining, and right after the rally started on the cryptocurrency market with Bitcoin’s leadership. 

BTC/USD started the day with a slight positive movement but there’s not a major change from yesterday’s situation. On the contrary, BTC prices are moving just behind the secondary declining trend which started on the 17th of August. If there’ll be a breakout on 10,750-10,850 $ levels, we can start to mention the previous top level of 11,200 $. However, this trend is continuing and every single rise is getting behind previous tops. That’s why the major support 10,450 $ levels should be paid attention to fallbacks.
 

RESISTANCES 10,800/ 10,950/ 11,271/ 11,138
SUPPORTS 10,650/ 10,554/ 10,400/ 10,205

BITCOIN [BTC] 359903.28 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24653.02 TRY

Ethereum’s traded at 350 $ with a 0,3% slight increase this morning. The fees on Ethereum went up to 12 $ and gas usage reached 2 months high while Ethereum network usage reached its maximum levels. There’s a risk on Ethereum prices while sell-offs are keeping on in DeFi tokens, which brought popularity to Ethereum. Also, the markets are calming down as Trump’s health condition became better. On the other hand, short-term risks are active since the precautions for the second wave of coronavirus and the US elections getting closer. 

Technically Ethereum seems better than Bitcoin. But the calmness of Bitcoin shouldn’t be disregarded even though Etherum felt 17% in September. The narrow band is cruising around 345-363 $ levels. The secondary support level at 355 $ can be a threshold intraday.
 

RESISTANCES 355/ 365/ 371/ 389
SUPPORTS 350/ 347/ 340/ 336

ETHEREUM [ETH] 24653.02 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 8.84 TRY

deneme

RESISTANCES 0,2610/ 0,2650/ 0,2720/ 0,2790
SUPPORTS 0,2530/ 0,2440/ 0,2375/ 0,2310

RIPPLE [XRP] 8.84 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 992.34 TRY

deneme

RESISTANCES 46,70/ 47,60/ 49,25/51,10
SUPPORTS 45,30/ 44,00/ 42,90/ 41,75

LITECOIN [LTC] 992.34 TRY +7.00 +0.03 VOL 21 LTC

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.