TVL on Aurora Sees Significant Uptick; Framework Ventures Establishes Blockchain-Focused Fund

Chart of the Day 

On Tuesday, the broader crypto market continued its recovery charge. As of the time of writing, BTC has managed to establish a stronger foothold above the $41k handle after rising by 1.2% over the past 24 hours. The largest cryptocurrency by market cap is currently eyeing multiple immediate hurdles sitting within the $41.5k to $41.8k zone, where a clear breakout above said levels would likely bring about further upside momentum that will propel BTC to retest the resistance levels within the $42.5k to $43.2k region.

On the on-chain front, several key on-chain metrics reveal that there is a lot of accumulation going on within the $38k to $45k range. In spite of the fact that the crypto market has been stuck in a sideways consolidation phase for a while now, many traders have actually become less sensitive to choppy price actions, and have joined the group of market participants who are currently holding at a loss. Additionally, and if we are to take a look at the profits and losses realized over the past two months via the BTC UTXO Realized Price Distribution chart, we can see that the $35k to $42k region is a value zone for accumulation (of BTC) as several price walls have already been formed at said levels. These price walls will likely provide a solid form of support against any further downside corrections that BTC may experience.