Q2 investments soared to a remarkable $2.32 billion, while DOGE's price experienced a surge, fueled by Elon Musk's epic counterattack in the DOGE lawsuit. Exciting news also came from Futureverse, securing a massive $54 million Series A from 10T Holdings and Ripple Labs. Meanwhile, Celo shook things up with a proposal for a powerful Layer-2 network on Ethereum. On the regulatory front, King Charles gave his royal seal of approval to stablecoin legislation, and the SEC made it easier for investors by accepting Blackrock's BTC ETF application.
The crypto and blockchain sector is soaring with $2.32 billion in investments during the thrilling Q2! Dogecoin is on fire, pumping hard as Elon Musk launches an epic counterattack in the DOGE lawsuit. Though Pepe's price slid 17% after failing to break $0.00000188, fear not, as yPredict and Wall Street Memes are still climbing. Brace yourself for more action in the metaverse, as the innovative startup Futureverse raises a whopping $54 million Series A from 10T Holdings and Ripple Labs. Plus, lightning strikes Binance as Lightning Network Bitcoin deposits are now live, meanwhile, a staggering 17,348,370 MATIC ($13.2 million) were transferred from FalconX to Binance, setting the stage for a whirlwind of possibilities.
Chainlink is revolutionizing the game with its innovative cross-chain protocol, seamlessly connecting the vibrant world of blockchain with the traditional finance realm. Not to be outdone, Celo is shaking things up by proposing to swap its standalone blockchain for a powerful Layer-2 network on Ethereum, promising even more efficiency and accessibility. But that's not all; Oasis is making waves too, introducing Sapphire, an Ethereum-compatible privacy blockchain that's set to take data security to new heights. And hold on tight, because zkSync is taking Ethereum scaling to the next level with their cutting-edge Prover Tech 'Boojum'.
King Charles has given his royal seal of approval to stablecoin legislation, signaling a fantastic green light for QUBE and the entire crypto market. The SEC has accepted Blackrock's Bitcoin ETF application, making it easier for investors to dive into the world of digital assets. Lummis-Gillibrand Crypto Regulation Bill is making a strong comeback after a rollercoaster of a year. Even across party lines, Republicans and Democrats are uniting to tackle stablecoin legislation in the House. Across the pond, the UK is taking strides to protect the younger generation online and should include the metaverse in its child safety bill. And finally, the G20 FSB has wrapped up final recommendations for regulating digital assets and stablecoins.
Siemens' tech chief asserts its permanence while highlighting its potential to elevate Europe's tech prowess. And that's not all - Google's exciting move to embrace NFTs in Android Apps and Games opens doors for innovative possibilities. Speaking of NFTs, The Jackson Pollock Studio made headlines with their sold-out collection, generating a staggering $450,000 in just hours! The Metaverse is not a distant dream; it's real and rapidly shaping the future! In another corner of the world, S. Korea's Shinhan Bank and SCB TechX are making waves, successfully completing a second stablecoin trial on Hedera.
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ProShares' Bitcoin Strategy ETF (BITO) has been making waves, with a staggering $109 million inflow, propelling the fund to an impressive $1 billion in assets under management. Meanwhile, the Bitcoin STH supply indicates that savvy investors are actively seizing profits after holding for just six months or less. Not to be left behind, BTC miners are also taking advantage of the upcoming halving event, as they actively sell their reserves. But don't fret, there's still some good news for enthusiasts! The Bitcoin Accumulation Trend Score signals that the current price action is perceived as accumulation by the market.
On the LTF we can see price has failed to sustain itself above the 1H 50 EMA over the last week and we now find ourselves sitting just below the 50 EMA testing it again as resistance. If we are able to successfully break and retest the 50 EMA as support then a push up to the $31k level would likely be on the cards.
Alternatively, we would look for price to retrace bearish and run the weekly sell-side liquidity positioned beneath.
BTC/USD has continued to accumulate over the last few weeks, between the $31,829 price level and the $29,100 price level. We have been continually running old highs and old lows before returning to the equilibrium of the range we are currently trapped within.
However, now the 50 EMA has made its way back to the current price whereby it can not act as support to push price into the $33.5k target price which aligns with old bearish order blocks and supply zones. Alternatively, a break below the 50 EMA would mean a retracement down to the $26k level where the daily 200 EMA is waiting.
Since 2021 till now, a whopping $10 billion worth of ETH has been burned, and here's another jaw-dropper: a participant from the iconic ETH ICO just deposited a mind-blowing 61,216 ETH (that's a cool $116 million!) into Kraken, creating waves in the market! But that's not all – the Ethereum network is flourishing with a surge in validators, growing by an impressive 8.81% in just the last month.
ETH/USD has been slowly and consistently trending upwards over the last few weeks continually finding support at the daily 200 ema after breaking back above it around the 15th. Now we have seen price retrace to test the 50 EMA as support once again.
If we manage to find support once more we would likely see price push to test the $2000 price level, alternatively a retracement down to the 200 EMA would be next on the cards.
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