Gemini's IPO filing, MicroStrategy's additional Bitcoin purchase, and AVAX's integration with the Toyota Blockchain for autonomous driving infrastructure design suggest increasing institutional inflows and the expansion of practical use cases. However, system failures on Starknet, an Ethereum Layer 2 scaling solution, also raise concerns about scaling solutions. Overall, AVAX is trading amidst a positive news flow with a neutral market bias.

・Gemini Files for IPO, Targeting Nasdaq Listing Gemini's IPO application suggests that cryptocurrency exchanges are accelerating their expansion into traditional financial markets, potentially enhancing industry-wide credibility and transparency. The IPO fundraising is expected to boost Gemini's service expansion and technological development, leading to strengthened competitiveness. This move is likely to have a positive impact not only on Gemini but also on its industry peers, contributing to the overall maturation of the cryptocurrency market. ・Ethereum Whales Accumulate Large Amounts of ETH News of Ethereum's large holders (whales) increasing their ETH holdings can be interpreted as market participants, particularly institutional investors, demonstrating a bullish stance on Ethereum's future potential. This accumulation appears to be both a speculative move capitalizing on short-term price declines as opportunities and an expression of confidence in Ethereum's long-term value appreciation. Consequently, expectations for an ETH price recovery are rising, potentially contributing to an improvement in overall market sentiment. ・Coincheck Acquires French Crypto Firm for European Expansion The acquisition of a French company by major Japanese cryptocurrency exchange Coincheck signifies that Japanese firms are seriously advancing their expansion into global markets, especially Europe, where regulations are becoming more established. Through this acquisition, Coincheck aims to strengthen its operational base in Europe and attract new customer segments. This is expected to enhance the international competitiveness of Japan's cryptocurrency industry and may encourage similar moves by other domestic companies. ・Michael Saylor's MicroStrategy Buys More Bitcoin MicroStrategy's additional Bitcoin purchases reiterate the trend of corporations actively incorporating Bitcoin into their portfolios as an inflation hedge and store of value. As a strong proponent of Bitcoin, the company's purchasing behavior significantly influences the market. This serves as evidence of growing institutional interest in Bitcoin, acting as a factor that increases expectations for further price appreciation. ・Bitcoin ETPs Hold 7% of Total Supply The fact that Bitcoin Exchange-Traded Products (ETPs) hold 7% of the total Bitcoin supply indicates a steady increase in institutional investor exposure to Bitcoin. The significant share held by US Bitcoin ETFs, in particular, highlights the high level of interest in Bitcoin within the US market. This development is expected to enhance Bitcoin's liquidity, contribute to price stabilization, and serve as a powerful catalyst for further price appreciation. ・Andrew Tate Suffers $67,500 Loss on WLFI Token, Establishes New Position Influencer Andrew Tate's speculative trading behavior highlights market volatility and risks. His action of establishing a new position immediately after incurring a loss suggests the presence of speculators targeting short-term price fluctuations. The WLFI token itself is associated with a project related to Donald Trump, and while its movements attract attention from certain investors, the impact of Tate's trades on the overall market is likely limited. ・Avalanche Designs Autonomous Driving Robotaxi Infrastructure with Toyota Blockchain The news that Avalanche and Toyota Blockchain Lab are collaborating to design infrastructure for autonomous driving robotaxis demonstrates the expanding application scope of blockchain technology into the transportation sector, particularly in autonomous driving. This partnership suggests the potential for blockchain to contribute to ensuring reliability and creating value within the mobility sector, possibly leading to expanded use cases for AVAX and positive future price appreciation. ・Ethereum L2 Starknet Suffers Second Mainnet Outage in Two Months The second mainnet outage experienced by Starknet, an Ethereum Layer 2 scaling solution, within a short period highlights concerns regarding its reliability. Such technical issues could undermine investor confidence in the stable operational capabilities of the broader Ethereum ecosystem, especially its L2 solutions. This represents a negative factor for Ethereum's adoption and scaling strategy, potentially impacting ETH's price indirectly. Overall Summary The cryptocurrency market is characterized by increasing institutional involvement, evidenced by moves like Gemini's IPO application and MicroStrategy's additional Bitcoin purchases. Concurrently, system failures like Starknet's outage and instances of hacking underscore the persistent technical challenges and security risks within the sector. These factors interact complexly, leading to short-term market volatility, while the medium to long term outlook anticipates growth driven by technological innovation and continued institutional adoption.

System outages on Starknet, an Ethereum Layer 2 scaling solution, could potentially raise reliability concerns for Layer 2 solutions overall. Failure to hold the $23 support level carries the risk of further downside, potentially exacerbated by deteriorating broader market sentiment. Key factors to monitor include the performance of major cryptocurrencies such as BTC and ETH, alongside potential unidentified security risks.

In the short term (24-48 hours), we expect trading within the $24-$25 range, supported by a positive development concerning the Toyota partnership and overall market stability. Over the medium term (within a week), a breakout above $25 or a breakdown below $23 is possible, depending on the performance of major cryptocurrencies. Key catalysts to watch include progress on the Toyota partnership, the Gemini IPO, and developments related to MicroStrategy.

AVAX maintains a positive outlook, underpinned by strong fundamentals including its compelling use case in designing autonomous driving infrastructure with Toyota Blockchain, alongside increasing institutional involvement evidenced by Gemini's IPO and MicroStrategy's further Bitcoin accumulation. Technically, the RSI and MACD suggest neutrality, indicating a temporary consolidation phase within the $24-$25 range, which can be interpreted as a period of accumulation before the next major move. The overall assessment remains neutral to mildly bullish. As an investment strategy, consider targeting buy-the-dip opportunities within the $23.5-$24.5 range. Upon confirmation of a breakout above $25, aggressive additions to positions can be considered. Set take-profit targets at $26 initially, followed by $27. Implement stop-losses if the price clearly breaks below $23 to mitigate risk. Key levels to monitor this week are $23 for support, $25 acting as both resistance and the breakout line, and $27 for mid-to-long-term targets. From a risk management perspective, caution is warranted regarding potential impacts on ecosystem-wide trust stemming from recent system outages on the Ethereum L2 solution Starknet. Furthermore, closely monitor the movements of major cryptocurrencies like BTC and ETH, and remain vigilant against any deterioration in overall market sentiment. The partnership with Toyota holds potential as a catalyst for enhancing AVAX's long-term value, and progress on this initiative should remain under close observation. By navigating market volatility calmly, building strategic positions, and employing diligent risk management, investors can position themselves advantageously during this phase.