DAILY CRYPTOCURRENCY NEWS

Tether Updates Assets Backing USDT In Latest Report

Tether has made public the latest breakdown of its asset holdings. Compared to the previous quarter, Tether owns 21% less commercial paper. The new report helped ease concerns about Tether's exposure to Evergrande debt.

Grayscale Investments Asks Investors to Convince SEC to Approve Bitcoin Spot ETF

Grayscale Investments, the world's largest digital asset manager, has launched a campaign aimed at persuading the US Securities and Exchange Commission to approve its spot Bitcoin ETF application. Grayscale aims to turn its $25.7 billion Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot ETF.

El Salvador Records Double-Digit GDP Growth, Was Bitcoin Behind It?

El Salvador has been making headlines around the world for months thanks to its decision to adopt Bitcoin as a legal tender. Despite numerous calls for the country and President Nayib Bukele to review and revoke this decision as it has the potential to cause negative damage to the country's economy, the small North American country has rebounded so well that its GDP growth rate reached double digits for the year.

UK Law Firm Becomes First Company to Accept Cryptocurrency as Payment

UK law firm Gunnercooke has announced that it now accepts cryptocurrency as payment for legal and professional services. “It is vital that we accept payments in this way for our substantial client base, which spans the entire blockchain and crypto-asset ecosystem,” Financial Services and FinTech Partner James Burnie stated.

Bitcoin Locked In Lightning Network Reaches All-Time High

Despite Bitcoin experiencing a high price correction, the amount of Bitcoin locked in the Lightning Network (LN) continues to rise, ignoring the impact of negative price action. As of February 22, 2022, locked Bitcoin in LN has reached an all-time high of 3,479 BTC, powered by decentralized finance analytics platform DeFi Pulse, tripling from 1,089 BTC recorded a year ago.

Axie Infinity Reaches $4 Billion in All-Time NFT Sales

Released in 2018, Axie Infinity was among the most popular earn-to-play blockchain games but didn't gain wide acceptance until 2021. The NFT space and the P2E business model began to evolve last year, with many projects taking their free token sales to new heights. According to data from DappRadar, the total value of NFTs sold in Axie Infinity reached $4.14 billion. The average price of digital collectibles sold is $198, while the number of investors who have achieved this is about 2 million.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 376049.51 TRY

Bitcoin lost a 0,80% value during morning hours and is priced around $37.966. Despite Bitcoin experiencing a high price correction, the amount of Bitcoin locked in the Lightning Network (LN) continues to rise, ignoring the impact of negative price action. As of February 22, 2022, locked Bitcoin in LN has reached an all-time high of 3,479 BTC, powered by decentralized finance analytics platform DeFi Pulse, tripling from 1,089 BTC recorded a year ago.

When we consider the BTC/USDT pair technically, the first relief signal was received with the positive divergence in the 4-hour RSI yesterday in BTC, where sharp drops followed in the last week period. But Bitcoin closed the day positively. When we look at the price-volume relationship, a transaction volume exceeds the daily trading volumes experienced in the last sales period, and this increases the possibility of a short-term uptrend. We expect BTC to continue its highs and surging towards the initial resistance zone at $39,500-40,500.

RESISTANCES 38.672 / 39.411 / 40.472
SUPPORTS 36.872 / 35.811 / 35.072

BITCOIN [BTC] 376049.51 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 25420.15 TRY

Ethereum gained a 0,70% value during morning hours and is priced around $2653. When we consider the ETH/USDT pair technically, ETH broke the short-term minor on the 4-hour chart this morning upwards and got a reversal signal from the 4-hour RSI. Short-term rises could continue towards the $2820-2840 zone.

RESISTANCES 2709 / 2768 / 2871
SUPPORTS 2386 / 2444 / 2548

ETHEREUM [ETH] 25420.15 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 323.70 TRY

AVAX gained a 2,30% value during morning hours and is priced around $76,19. When we consider the AVAX/USDT pair technically, AVAX, which has received many reactions from the blue-marked resistance zone last week, could not hold onto the long-term major downtrend but the trend was broken to the downside again. With the declines experienced, AVAX, which broke the $75.5-79 band to the downside yesterday, continued to rise towards $ 75.5-79 band with the positive divergence in the 4-hour RSI yesterday. Unless this zone is broken to the upside, no permanent rises for AVAX can follow.

RESISTANCES 79,49 / 82,78 / 88,69
SUPPORTS 61,09 / 64,38 / 70,29

AVALANCHE [AVAX] 323.70 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 9.22 TRY

Ripple lost a 0,75% value during morning hours and the current price is $0,7153. When we consider the XRP/USDT pair technically, XRP had a descending triangle and broke the level of $0,75 downwards and sharp sales followed. After the daily close yesterday, XRP could regain some loss and broke the resistance level of $0,7121. This morning it was retested. If XRP holds above the $0,7121 level and breaks the 50MA level (0,7274), the upward trend is expected to continue.

RESISTANCES 0,7354 / 0,7557 / 0,7844
SUPPORTS 0,6374 / 0,6577 / 0,6864

RIPPLE [XRP] 9.22 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 1010.48 TRY

LTC lost a 0,50% value during morning hours and is priced around $106,9. When we consider the LTC/USDT parity technically, LTC, which faced resistance from $145, received a downward price action,  closed the day below $104,9. With the rise experienced in the market yesterday, this level was broken up again and a retest was made this morning. At the same time, our expectation for LTC, which has a positive divergence on the RSI in the daily period, is to continue the upward trend with the upward breakout of $113,1.

RESISTANCES 110,08 / 112,59 / 117,07
SUPPORTS 96,10 / 98,61 / 103,09

LITECOIN [LTC] 1010.48 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 0,40% value during morning hours and is priced around $13,97. When we consider the LINK/USDT pair technically, the weekly channel lower line, which has been in existence since July 27, 2020, has also been broken down. LINK has a head-and-shoulders formation in the daily chart and can rise towards the neckline ($15,16), but a price movement above $17,5 should occur to destroy the formation. LINK, which has not yet reached its formation target, appears to have found short-term support from the zone marked in blue.

RESISTANCES 14,38 / 14,77 / 15,37
SUPPORTS 12,42 / 12,81 / 13,40

BASIC ATTENTION TOKEN [BAT] 5.72 TRY

BAT lost a 0,45% value during morning hours, and is priced around $0,6808. When we consider the BAT/USDT pair technically, BAT has repeatedly tested the uptrend that has existed since June 2021 and broke it down again. The sales pressure followed. For BAT, which we are talking about head-and-shoulders formation, it has been confirmed and at the same time, there has been a pullback to our short-term price target, the support zone marked in blue. Finding support from this blue zone, BAT closed the day with profit yesterday and positive divergence was confirmed in the RSI in the daily period. In this sense, we expect the rises to continue if the blue zone does not go down the daily period.

RESISTANCES 0,7023 / 0,7219 / 0,7550
SUPPORTS 0,5969 / 0,6165 / 0,6496

BASIC ATTENTION TOKEN [BAT] 5.72 TRY +7.00 +0.03 VOL 21 BAT

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