You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.
After spending last week declining, Bitcoin started the new week with a reactionary rise. Having fallen to $111,920, BTC is currently trading around $114,000. Support lies at $113,500 in the lower range. The short-term target for the upper range is $116,200.
For Ethereum, the target we mentioned in previous newsletters was reached on the same day. The market structure remains positive. ETH, which rose to $3,730, will target the $4,000 region as long as it remains above $3,500.
Crypto News
- The CFTC will launch an initiative for the trading of spot crypto asset contracts.
- MANTRA and Inveniam are merging in the global RWA market. The MANTRA platform and fintech firm Inveniam are launching a UAE- and US-focused institutional real assets (RWA) ecosystem.
- MEI Pharma acquired Litecoin and launched a $100 million corporate treasury strategy with advisory from Charlie Lee and GSR.
- SharpLink purchased 83,561 ETH for $264.5 million at an average price of $3,634
- Trump: We are very close to a deal with China.
- Galaxy Digital is also jumping on the tokenization bandwagon. The company reached an agreement with RWA platform Superstate to issue the GLXY token.
- SEC releases statement on liquid staking activities: Liquid staking activities are not considered securities.
- Metamask introduces the Metamask USD stablecoin.
Cryptocurrencies
Top Risers:
- MYX → Up 126.9% to $1.99
- ZBCN → Up 9.6% to $0.005509
- OM → Up 9.3% to $0.27304455
- PUMP → Up 7.9% to $0.00344558
- SYRUP → Up 6.4% to $0.4471353
Top Fallers:
- QUBIC → Down 16.5% to $0.00000022
- WEMIX → Down 7.4% to $0.76227445
- PROVE → Down 7.1% to $1.25
- FRAX → Down 6.6% to $2.59
- KTA → Down 5.4% to $1.02
Fear Index:
- Bitcoin: 58 (Greed)
- Ethereum: 51 (Neutral)
Dominance:
- Bitcoin: 61.95% ▲ 0.17%
- Ethereum: 11.83% ▼ 0.30%
Total Daily Net ETF Inflows
• BTC ETFs: -$196.20 Million
• ETH ETFs: $73.30 Million
Global Markets
Global markets are starting the day with gains. While Wall Street saw sell-offs following yesterday's weak ISM services data from the US, expectations of a Fed rate cut and corporate news are supporting buying this morning. US and European futures, as well as Asian stock markets, are in positive territory.
The ISM services index remained just above the threshold level at 50.1 in July. Weaknesses were observed in business activity, new orders, and employment. The price index, which indicates inflationary pressures, rose from 67.5 to 69.9, reaching its highest level since October 2022. The VIX index rose to 17.85, indicating that volatility persisted, albeit limited.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.35 trillion market capitalization, $178.26 per share, decreased 0.97%.
- Microsoft (MSFT) → $3.92 trillion market capitalization, $527.75 per share, decreased 1.47%.
- Apple (AAPL) → $3.01 trillion market capitalization, $202.92 per share, decreased 0.21%.
- Alphabet (GOOG) → $2.36 trillion market capitalization, $195.32 per share, down 0.22%.
- Amazon.com (AMZN) → $2.28 trillion market capitalization, $213.75 per share, up 0.99%.
Borsa Istanbul
According to seasonally adjusted data from the Turkish Statistical Institute (TÜİK), monthly inflation was 2.65% in July (June: 2.0%). The CPI-based real exchange rate fell 0.9% in July to 69.4, its lowest level since September 2024. The PPI-based real exchange rate decreased 1.5% to 91.9.
The BIST-100 closed flat yesterday. The weak performance of the last two days makes it difficult to break above the 10,900 level. We expect the index to continue trading tight today.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 2.24 trillion TL, price per share of 736.0 TL, increased by 9.93%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 844.06 billion TL, price per share of 180.4 TL, decreased by 2.54%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 630 billion TL, price per share of 148.1 TL, decreased by 1.27%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 459.25 billion TL, price per share of 181.0 TL, decreased by 0.06%.
- Türk Hava Yolları A.O. (THYAO) → 407.79 billion TL market capitalization, 300.75 TL per share, increased by 1.78%.
Precious Metals and Currency Prices
- Gold: 4410 TL
- Silver: 49.53 TL
- Platinum: 1743 TL
- Dollar: 40.68 TL
- Euro: 47.13 TL
We look forward to bringing you the latest updates again tomorrow.
