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Markets
Sep. 12, 2024

XRP Spikes 8% as Grayscale Launches XRP Trust in the U.S.

Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund (ETF) in the U.S. The closed-end fund will offer accredited investors direct exposure to XRP {{XRP}}. Grayscale previously offere...
Markets
Sep. 12, 2024

Leverage in the Bitcoin Market Is Increasing Again

Renewed bias for leverage points to increased investor risk appetite. High-leverage liquidity in bitcoin is concentrated at around $58,500. Increased leverage indicates traders taking on more risk and a possible jump in price volatility. Lev...
Markets
Sep. 12, 2024

Bitcoin Yields as High as 45% on Offer in Pendle's New Pools

DeFi platform Pendle's new pools allows users to earn floating yields up to 45% and fixed yields of 10% on a bitcoin-based token. The yields are achieved through staking service Lombard's LBTC token in collaboration with Ethereum layer-2 networ...
Markets
Sep. 12, 2024

Bitcoin Jumps Over $58K Amid Tech Stock Rally, SUI Outperforms

Bitcoin surpassed $58,000 during Asian trading hours, influenced by a rally in U.S. tech stocks and positive movements in Asian equities. Despite the bitcoin price increase, U.S. spot bitcoin ETFs experienced outflows, with Ark Invest’s ARKB se...
Markets
Sep. 11, 2024

Are Ethereum Staking Yields Too High?

Staking has grown in popularity in recent years due to the availability of staking-as-a-service, pooled staking, and the growth of liquid re-staking. As of July 2024, Ethereum's security budget amounts to a staggering $110 billion worth of ETH, r...
Markets
Sep. 11, 2024

Bitcoin Decouples From Gold as Crypto Continues in Bearish Phase

Bitcoin has been in CryptoQuant's bearish phase since August 27. There's been a decoupling from gold, which has been making record highs, while bitcoin struggles more than 20% below its record level of a few months ago. BTC's MVRV ratio is bel...
Markets
Sep. 10, 2024

Crypto Retail Market Is Poised for a Rebound: Gemini

Crypto adoption has remained steady in the U.S. and the U.K. in the past two years, the report said. Gemini said 65% of those surveyed said they held crypto for its long-term investment potential. The majority of crypto owners said they wanted...
Markets
Sep. 10, 2024

Bitcoin ETFs Post $28.7M Inflows After Record Losing Streak

The U.S.-listed BTC exchange-traded funds (ETFs) hit $28.7 million in inflows on Monday, ending a long losing streak. BTC is trading below $56.5K, while the CoinDesk 20 (CD20) is up 2.3%. Spot bitcoin (BTC) exchange-traded funds (ETFs) listed...
Markets
Sep. 09, 2024

Bitcoin Bottom In? BTC Order Book Liquidity Says Yes

The low order book liquidity suggests an impending bull reversal, according to Hyblock Capital. Negative funding rates point to a potential short squeeze. The market is fast moving into a positive macro environment, LondonCryptoClub said. Bi...
Markets
Sep. 06, 2024

Crypto Market Lacks Major Near-Term Catalysts, JPMorgan Says

Total crypto market cap was about $2 trillion at the end of last month, the report said. JPMorgan said the crypto ecosystem lacks major catalysts in the near-term. Stablecoins were the outlier, as total market cap grew and volumes also increas...
Markets
Sep. 05, 2024

Bitcoin Retraces Below $57K as 'Sell-on-Rise' Action Continues

BTC's price bounces remain shallow and brief as concerns about the U.S. economy linger. Crypto weakness may be a red flag for traditional risk assets, one analyst said. Bitcoin {{BTC}} dropped below $57,000 on Thursday, reversing Wednesday's ...
Markets
Sep. 04, 2024

Solana's SOL Gets First Implied Volatility Index on Volmex

Volmex announces 14-day implied volatility index tied to SOL. More indices to be debuted in months ahead, Volmex said. Crypto derivatives protocol Volmex Finance unveiled a new implied volatility index for programmable blockchain Solana's SOL...
Markets
Sep. 04, 2024

Bitcoin ETFs Bleed $287M, Largest Daily Outflow in Four Months

The 11 U.S.-listed spot ETFs saw $287.8 million worth of outflows on Tuesday, according to Farside Investors. BTC traded lower as weak U.S. manufacturing data revived growth concerns. The U.S.-listed spot bitcoin {{BTC}} exchange-traded funds...
Markets
Sep. 04, 2024

Bitcoin Dives Under $56K as Asian Equities See Red

BTC briefly fell to $55,500, its lowest since August 8, to reverse nearly all gains in the past month. The August reading of the Institute for Supply Management’s manufacturing index slumped for a fifth straight month with a rebound from July b...
Markets
Sep. 03, 2024

Bank of Japan Governor Hints at More Rate Hikes; BTC Drops 0.4%

Kazuo Ueda reiterated the commitment to raise Japanese interest rates further. The yen rallied, while BTC and S&P 500 futures registered moderate losses. BOJ-Fed policy divergence points to continued yen strength and pain for risk assets, ...
Markets
Sep. 03, 2024

WazirX Hacker Starts to Move Stolen Ether Using Tornado Cash

The hacker stole $230 million from WazirX and began transferring funds through Tornado Cash. The hacker started moving nearly $4 million worth of ether to obscure the transaction trail. WazirX is undergoing restructuring after the hack and cus...
Markets
Sep. 02, 2024

Key Week for Bitcoin and the Dollar Index

Tuesday's U.S. manufacturing data is likely to show continued contraction, signaling weakness in the dollar index and strength in bitcoin. Traders should watch out for an August-like growth scare in risk assets. Friday's U.S. jobs data could e...
Markets
Sep. 02, 2024

Donald Trumps Harris On Polymarket Once Again

Trump pulled ahead with a 51% chance of regaining the U.S. presidency. Traders have placed $99 million in on-chain bets on Trump winning the election, with over $95 million put on Harris. Election punters on Polymarket are favoring Republican...
Markets
Sep. 02, 2024

OKX Brings Update to Ease Bitcoin Arbitrage

OKX automates execution of the "funding rate arbitrage" strategy. The new offering allows traders of varied experience levels to maximized returns, OKX said. OKX, the world's third-largest crypto exchange by trading volume , announced a new ...
Markets
Aug. 29, 2024

Crypto for Advisors: Crypto Market - A Week in Review

In today’s issue, Xinghua Luo from Pioneer Asset Management Limited provides a summary of market activity including a US Inflation Rate and Federal Reserve Outlook, ETF Developments and overall crypto flows. Then, Jason Leibowitz from Ha...
Markets
Aug. 29, 2024

Crypto Market Has Evolved in the Past Year, Canaccord Says

The crypto market is back in growth mode following a period of consolidation, the report said. Canaccord noted that the launch of spot ETFs in the U.S. has led to broader institutional adoption of digital assets. Institutional allocations to c...
Markets
Aug. 29, 2024

TON Back Online After Second Outage

The TON blockchain is back online after a second outage. Toncoin is up roughly 8% on the news. TON is once again back online after going to the DOGS a second time within 24 hours. "TON network is fully operational! TON-based asset withdrawal...
Markets
Aug. 28, 2024

Ether Spot ETF Flows Have Underwhelmed Versus Bitcoin: JPMorgan

Ether spot ETFs have seen net outflows overall since their launch, said the team at JPMorgan. The outflows from the Grayscale Ethereum Trust were much larger than the bank had originally anticipated. The bank noted growing interest from asset ...
Markets
Aug. 27, 2024

First Mover Americas: Bitcoin Drops as Traders Take Profits

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,004 −3....
Markets
Aug. 25, 2024

TON Down 14% as Telegram CEO Pavel Durov Arrested in France

Toncoin posted double-digit loss as French media reported that Telegram CEO Pavel Durov was arrested in the country. The arrest comes as French authorities consider Durov complicit in crimes organized via Telegram because of the platform's lack...
Markets
Aug. 23, 2024

Fed Chair Jerome Powell: Time Has Come for Policy to Adjust

As expected, Jerome Powell indicated that a rate cut is coming in September Bitcoin and traditional markets at least initially have moved sharply higher Investors will now focus on whether the initial rate cut will be 25 or 50 basis points A...
Markets
Aug. 23, 2024

Bitcoin Mining Opportunity Is Worth About $74B, JPMorgan Says

The bank reduced its CLSK, IREN, MARA and RIOT price targets to account for second-quarter results and changes in the price of bitcoin and the network hashrate. JPMorgan prefers Iren and Riot Platforms, and says recent underperformance in these...
Markets
Aug. 23, 2024

DeFi Summer Is Making a Comeback, Steno Research Says

Decentralized finance is making a comeback, and the total value locked in the crypto market is expected to hit an all-time high next year, the report said. Steno said interest rates are the most important factor in influencing DeFi's appeal. T...
Markets
Aug. 22, 2024

Crypto OTC Desks Now Hold Over $22B in Bitcoin: CryptoQuant

The number of BTC held in wallets tied to over-the-counter (OTC) desks has surged to 368,000 BTC, the highest since June 2022, according to CryptoQuant. Miners often turn to OTC deals to sell bitcoin. Crypto over-the-counter (OTC) desks, whic...
Markets
Aug. 21, 2024

Institutions Are Still Buying Bitcoin ETFs, Bitwise Says

The biggest question in crypto at the moment is whether institutional investors will allocate to the asset class in a big way, the report said. Bitwise noted that the total number of institutional investors holding bitcoin ETFs rose 14% in the ...
Markets
Aug. 21, 2024

Mt. Gox Moves $700M in Bitcoin, BTC Unmoved at $59K

Defunct exchange Mt. Gox moved 13,265 BTC on-chain, according to Arkham Intelligence. According to Galaxy's Alex Thorn expects only 1,265 BTC may be offloaded in the market. Mt. Gox-related selling pressure might raise its head again in the b...
Markets
Aug. 20, 2024

Floki Scores Major Deals With English Premier League Teams

Floki has signed deals with various English Premier League teams to feature its FLOKI token and upcoming game, Valhalla. FLOKI will be the cryptocurrency partner for Nottingham Forest, Valhalla will appear on Sunderland AFC jerseys and on-scree...
Markets
Aug. 20, 2024

Bitcoin Pops Over $61K, XRP Leads Gains Among Majors

Bitcoin was trading above $61K during the Asian trading day, and Polymarket bettors are forecasting some price stability for the rest of the week. Traders are looking to Jerome Powell's remarks at the end of the week for indications of where pr...
Markets
Aug. 19, 2024

TON Leads Crypto Majors as BTC, ETH Remain Flat

TON led gains in the crypto market on Monday as HashKey announced a partnership with popular GameFi project Catizen. DYDX is also up as traders continue to be optimistic about weekly gains in its volume. Bitcoin {{BTC}}, ether {{ETH}} and mos...
Markets
Aug. 15, 2024

Crypto for Advisors: Crypto Volatility and Market Conditions

Is crypto’s volatility a feature or a bug? In today’s issue, Miguel Kudry , CEO of L1 Advisors explores cryptocurrencies performance and its relation to market conditions. In Ask an Expert, Kevin Tam from Raymond James Ltd. looks at insti...
Markets
Aug. 14, 2024

The Anatomy of a Meltdown (and Just BTFD)

There has been much consternation in traditional markets of late, with a variety of reasons to blame. First, the Bank of Japan raised interest rates to combat the falling yen, causing traders to unwind yen-carry trade positions. Second, worries a...
Markets
Aug. 14, 2024

U.S. CPI Rose 0.2% in July, Matching Expectations

Inflation in July for the U.S. came in mostly as forecast as the stage continues to be set for the Federal Reserve to begin cutting rates at its upcoming mid-September meeting. The Consumer Price Index rose 0.2% in July, according to a U.S. gove...
Markets
Aug. 14, 2024

Goldman Sachs Holds Over $400M in Bitcoin ETFs

Goldman Sachs owns positions in seven out of the 11 bitcoin ETFs. Earlier, the bank had said "we're not believers in crypto." Goldman Sachs (GS) holds positions in a variety of bitcoin {{BTC}} exchange-traded funds (ETFs), according to a 13...
Markets
Aug. 13, 2024

Bitcoin Likely to Fall by $5K Than Rise by Same Amount: Analyst

The BTC market shows signs of seller dominance, FxPro's analyst said. BTC's recovery has stalled with Harris pulling ahead of Trump in prediction markets. Bitcoin's {{BTC}} swift recovery from the sub-$50,000 price seen last Monday has restor...
Markets
Aug. 12, 2024

First Mover Americas: BTC Slides Ahead of Busy Data Week

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,925 −2...
Markets
Aug. 12, 2024

Ex-Bank of Japan Official Rules Out Another Rate Hike This Year

Makoto Sakurai ruled out additional rate hikes this year, offering hope to risk assets. The next move may come in March 2023, the official said A former Bank of Japan (BOJ) official said the central bank would defer additional interest rate h...
Markets
Aug. 12, 2024

Bitcoin Nears $58K as Market Slides Ahead of Busy Data Week

BTC and the broader crypto market experienced a selloff over the weekend, with BTC trading slightly above $58,500, down 4.8% in the last 24 hours. U.S.-listed exchange-traded funds (ETFs) tracking these assets recorded outflows on Friday, with...
Markets
Aug. 08, 2024

XRP Jumps 17%, Beating Bitcoin Gains, as Ripple-SEC Case Ends

XRP surged 17% following a settlement in the case involving Ripple Labs and the U.S. Securities and Exchange Commission (SEC). This led to a jump in its price from 50 cents to 65 cents and a significant increase in trading volumes. The settleme...
Markets
Aug. 07, 2024

First Mover Americas: BoJ Comments Offer Relief to Crypto

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,869 +4....
Markets
Aug. 07, 2024

WOO X Now Lets Traders Bet on Upcoming Tokens

Crypto futures platform WOO X started a prelaunch perpetual futures market that lets users bet on the prices of upcoming tokens that have yet to be issued, a representative told CoinDesk on Wednesday. Such markets can enable traders to engage in...
Markets
Aug. 07, 2024

CoinShares Netted $513.1M Profit in Q2

However, CoinShares also noted a loss of $481.42 million on the fair value of digital assets. Once accounted for this depreciation, CoinShares' comprehensive income for the quarter was $32.6 million. Crypto asset manager CoinShares (CS) recor...
Markets
Aug. 06, 2024

First Mover Americas: Crypto Rebounds From Monday's Chaos

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,782 +8....
Markets
Aug. 06, 2024

Bitcoin's Unreliable Death Cross Is Looming Again

The bitcoin price is staring at the death cross, a pattern that trapped bears on the wrong side of the market last September. BTC's near-term prospects are closely tied to the health of the U.S. economy and volatility in the Japanese yen. Som...
Markets
Aug. 06, 2024

Ethereum ETFs Scored $49M Inflows as ETH Plunged

Despite a sharp 20% drop in price, U.S.-listed spot ether exchange-traded funds (ETFs) saw net inflows of nearly $49 million on Monday, indicating strong demand. Meanwhile, some pointed to the resilience of the Ethereum network in the face of t...
Markets
Aug. 06, 2024

ARK Bought $17.8M of COIN, $11.2M of HOOD as Market Slumped

This was ARK's first COIN purchase since June 6, 2023. ARK Invest often loads up on shares when their prices slide, usually with a view to offloading them one their prices tick up again. ARK Invest took advantage of Monday's massive market sl...
Markets
Aug. 06, 2024

These Two Bitcoin Indicators Offer Light in a Gloomy Marke

BTC's long-term options market indicator continues to signal bullish bias. Key indicator shows signs of bargain hunting during the price drop. Bitcoin {{BTC}} has had a horrible August, falling over 13% to as low as $50,000 in the first five ...
Markets
Aug. 05, 2024

Is Bitcoin Still a Store of Value?

On days like this, it's easy to scoff at bitcoin {{BTC}} – specifically, the claim that the original cryptocurrency is a store of value, the digital equivalent of gold. BTC tumbled along with the broader financial markets Monday and briefly dipp...
Markets
Aug. 05, 2024

Crypto Stocks Slump as Bitcoin, Ether Tumble

Bitcoin and ether tumbled Monday as risk-off sentiment permeated global markets. Crypto-related company shares followed suit, with many miners losing more than 10% in pre-market trading while crypto exchange Coinbase dropped 9%. Crypto-relate...
Markets
Aug. 05, 2024

Bitcoin Price Crash to $50K Dashes Carry Traders' Hopes

Bitcoin futures trade at par or meagre premium to spot prices. The decline in premium dents the appeal of cash and carry arbitrage strategies. Bitcoin's {{BTC}} latest price crash has narrowed the gap between futures and spot prices, denting ...
Markets
Aug. 05, 2024

Bitcoin Continues to Bleed, Falls Below $50K

Bitcoin {{BTC}} continued its downward slide during the Asian trading hours on Monday, plunging below $50,000. At the time of writing, Bitcoin was trading near $49,200, a level last seen in late February. The sell-off in bitcoin and the overall...
Markets
Aug. 05, 2024

Ether Slides 20% as Trading Firm Moves $46M in ETH

ETH's price drops to lowest since January. A wallet supposedly associated with Jump Trading moved 17,576 ETH to centralized exchanges, according to Spot On Chain. Ether's {{ETH}} price cratered as a prominent crypto trading firm moved large a...
Markets
Aug. 02, 2024

First Mover Americas: BTC Warnings Finger Drop to $55K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin was l...
Markets
Aug. 02, 2024

Risks Are Skewed to a Weaker Nonfarm Payrolls Print, ING Says

Friday's U.S. nonfarm payrolls report could disappoint expectations, according to ING. A weak report will likely bolster Fed rate cut expectations and potentially support risk assets, including bitcoin. With markets awaiting Friday's U.S. non...
Markets
Aug. 01, 2024

DeFi Protocol Convergence Hacked, CVG Token Plunges 99% on Curve

Decentralized finance protocol Convergence, a Curve-based yield-enhancing protocol, a was exploited Thursday, sending its token's price to near-zero. The attacker created (minted) 58 million of the protocol's CVG token using a vulnerability in t...
Markets
Aug. 01, 2024

Bitcoin Plunges More Than 10% Since Hitting $70K 72 Hours Ago

Bitcoin {{BTC}} continued its sharp pullback after a fast start to the week, with the price retreating to a two-week low of of $62,700. At press time, bitcoin was lower by 5.5% over the past 24 hours, outperforming the broader CoinDesk 20 Index'...
Markets
Aug. 01, 2024

Large Bitcoin Holders Added $5.4B in BTC in July, Data Show

Large bitcoin holders added over 84,000 BTC in July, the highest since October 2014, per IntoTheBlock. The accumulation was characterized by bargain hunting during the early July price dip. In a display of confidence, large bitcoin {{BTC}} ho...
Markets
Jul. 31, 2024

The Anatomy of a Crypto Bull Market

Although crypto history is short, with Bitcoin celebrating its 15th birthday this year, we have already experienced three major cycles: 2011-2013, 2015-2017, and 2019-2021. The short cycle time is not surprising given the crypto market trades 24/...
Markets
Jul. 31, 2024

Nvidia Becoming More Volatile Than Bitcoin and Ether

NVDA's 30-day implied volatility has surpassed bitcoin and ether's gauge. Bitcoin has exhibited a strong positive correlation with NVDA since late 2022. Nasdaq-listed Nvidia (NVDA), hailed by Goldman Sachs as the world's most important stoc...
Markets
Jul. 30, 2024

Key Interest Rate Decisions Coming This Week From Fed, BOJ, BOE

Three major central banks are holding policy meetings this week and the results from each are anticipated to be at least somewhat different. The first decision is set to come Wednesday (Tuesday evening in the U.S.) from the Bank of Japan and ana...
Markets
Jul. 29, 2024

Ether ETFs Saw $340M of Negative Outflows in Their First Week

Spot ether {{ETH}} exchange-traded funds saw negative net flows in their first week as massive outflows from the incumbent Grayscale Ethereum Trust (ETHE) overwhelmed interest in the competing products. Similar bitcoin {{BTC}} funds, which debut...
Markets
Jul. 29, 2024

Bitcoin Pulls Back Sharply After Touching $70K

In what's become a familiar pattern over the past few months, a rally in bitcoin {{BTC}} to a key level was met with a wave of selling as the price during Monday morning U.S. hours quickly plunged more than 3% after pushing above $70,000 for the ...
Markets
Jul. 25, 2024

Ether Down Over 7.5% as ETHE Outflows Ramp Up

Ether is down over $7.5% and is trading above $3100. Ether's decline comes as ETHE outflows continue and tech giant Nvidia trades in the red. Ether {{ETH}} is down over 7.5% in the first hours of East Asia's business day, trading hands above ...
Markets
Jul. 24, 2024

AgriDex Settles First Agricultural Trade on Solana Blockchain

AgriDex has settled its first agricultural trade on the Solana blockchain. It facilitated the shipment of two hundred bottles of extra virgin olive oil and multiple cases of wine from a farm and vineyards in South Africa to London. AgriDex ,...
Markets
Jul. 23, 2024

Ether ETF Volumes Top $1B on Day One

Investors traded over $1 billion worth of shares of the freshly launched ether exchange-traded fund (ETF) issuers on the first day of their availability, data from Bloomberg shows. Trading volume simply represents the dollar amount of shares exc...
Markets
Jul. 23, 2024

Spot Ether ETFs See $600M in Volume In First Half Day of Trading

The eight recently launched spot ethereum {{ETH}} exchange-traded funds (ETFs) posted nearly $600 million worth of volume in the first half of their first day of availability, according to data from Bloomberg. The race is led by Grayscale’s Ethe...
Markets
Jul. 23, 2024

Bitcoin Nears $66K as Mt. Gox Moves $130M to Bitstamp

Bitcoin {{BTC}} traded near $66,000 as defunct exchange Mt. Gox started to move its latest tranche of the asset to crypto exchange Bitstamp, which has previously led to sell-offs in the broader crypto market. Arkham data shows Mt. Gox transf...
Markets
Jul. 23, 2024

BlackRock's Spot Bitcoin ETF Draws $526M in Net Inflows

BlackRock's IBIT registered the highest single-day inflow since March. BTC failed to break out of a key price resistance level. BlackRock's iShares Bitcoin Trust (IBIT), a Nasdaq-listed exchange-traded fund (ETF) closely tracking the cryptocu...
Markets
Jul. 23, 2024

U.S. Government Moves $4M Bitcoin to Coinbase, Arkham Data Show

An address labeled "U.S. Government: Ryan Farace Seized Funds" moved BTC worth nearly $4 million to Coinbase 11 hours ago, according to Arkham Intelligence. The potential selling pressure represents less than 1% of BTC's 24-hour trading volume....
Markets
Jul. 22, 2024

Bitcoin Briefly Tops $68K as Biden Dropout Riles Up Crypto Bulls

Bitcoin briefly surged above $68,000, driven by positive U.S. election predictions, before settling around $67,500 during early Asian trading hours on Monday. The broader crypto market, as represented by the CoinDesk 20 index, saw a 1.25% incre...
Markets
Jul. 22, 2024

Polymarket Bettors Put Nearly $80M on Biden's Democratic Chances

Nearly $80 million was wagered on Polymarket in various contracts about Joe Biden's political future. $51.5 million was at stake on a question regarding Biden's leadership of the Democrats, while $27.5 million was bet on variations of the quest...
Markets
Jul. 18, 2024

Profit-Making Crypto Address Makes $16M Investment in BTC

A profitable crypto address has made a fresh investment in BTC. The address has made $30 million in trading profits in the past 12 months. Traders who are skeptical about bitcoin's {{BTC}} recent price rebound may find comfort in the fact tha...
Markets
Jul. 17, 2024

Ether Spot ETF Inflows Will Push ETH to Beyond $5K: Bitwise

Launch of spot ether ETFs in the U.S. will push the price of the crypto to all-time highs above $5,000, the report said. Bitwise said money flowing into new ether spot ETFs will have a larger impact than it did for bitcoin. Ether spot ETFs are...
Markets
Jul. 17, 2024

Bitcoin ETF Inflows Hit Six-Week High of $422.5M

The 11 spot BTC ETFs listed in the U.S. recorded a cumulative inflow of $422.5 million on Tuesday. The funds have collected over $1 billion in the past three trading days alone. BTC's price has recovered 23% since hitting lows near $53,500 on ...
Markets
Jul. 16, 2024

Crypto Traders Search for Clues in Solana's Triangle Pattern

SOL's daily chart shows a triangular consolidation pattern. A breakout would signal a continuation of the broader uptrend, according to Fairlead Strategies. Crypto traders looking for clues on the next possible move in programmable blockchain...
Markets
Jul. 16, 2024

Ether Hedging Activity Picks Up as U.S. ETF Debut Nears

Relative richness of ether's short-term options-induced implied volatility suggests a pick up in hedging activity. The U.S.-listed ether ETFs are expected to begin trading next week. The impending debut of U.S.-based exchange-traded funds (ET...
Markets
Jul. 15, 2024

Spain National Fan Token Slides 20% After UEFA Euro 2024 Win

The Spain National Fan token (SNFT) has dropped 20% in the past 24 hours. The losses likely represent "sell-the-fact" losses following Spain's victory in UEFA championship. Spain is reveling in the UEFA 2024 soccer championship victory, but...
Markets
Jul. 12, 2024

XRP is the Sole Major in Green as Bitcoin Bulls Remain Sidelined

Bitcoin (BTC) fell 2.3% in the past 24 hours to $57,000 after briefly surpassing $59,000 on Thursday. XRP tokens were the only major gainers, rising 5% in the past 24 hours amid favorable developments. One trader said bulls were likely "on the ...
Markets
Jul. 12, 2024

First Mover Americas: BTC Retreats From $60K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin trade...
Markets
Jul. 12, 2024

Bitcoin Bulls Fail Again, But There Is Still Hope

BTC bulls failed to penetrate critical resistance after positive U.S. inflation data, leaving the doors open for more losses. Downside may be limited as recent supply overhang from Germany's Saxony state has exhausted. Fed rate cut bets, FTX r...
Markets
Jul. 11, 2024

U.S. Inflation Was Negative in June; Bitcoin Jumps Above $59K

June CPI came in softer than expected. The odds of imminent Fed rate cuts rose sharply following the news. Under major pressure of late, the price of bitcoin rose as well. Inflation continued to retreat in June, according to the government's...
Markets
Jul. 11, 2024

ARG Token Doubles as Argentina Enters Copa America Final

Argentina's victory over Canada in the Copa America semi-finals brings cheer to Argentina fan token holders. The token has seen over $20 million in trading volume in the past 24 hours. Defending champions Argentina advanced to the finals of...
Markets
Jul. 11, 2024

Staked Ether Close to All-Time High as ETF Approval Nears

While the supply of ether is rising, the amount that is staked is close to all-time highs, CryptoQuant data shows. Polymarket bettors are assigning a 90% chance to an ether exchange-traded fund being approved in the U.S. by July 26, but there a...
Markets
Jul. 11, 2024

Bitcoin Waits for Guidance From U.S. Inflation Data, Bond Market

Thursday's U.S. CPI updated is expected to offer evidence of continued progress on the inflation front, boosting the Fed rate cut probability. Increased prospects of Fed rate cuts could bode well for BTC's recovery. BTC bulls should watch out ...
Markets
Jul. 10, 2024

Bitcoin at Pivotal Point as Bear Market Beckons: Onchain Data

The Bitcoin profit and loss index is hovering around its 365-day moving average; previous crossovers to the downside have led to major market corrections. Tether's market cap growth, often considered a key driver of bull markets, has stalled. ...
Markets
Jul. 09, 2024

Bitcoin ETF Traders Buy The Dip With Nearly $300M Inflows

On Monday, the U.S.-listed spot ETFs witnessed nearly $300 million in new inflows. Investors seem to be bargain-hunting as temporary supply overhangs weigh over BTC's price. Spot bitcoin {{BTC}} exchange-traded funds (ETFs) recorded nearly $3...
Markets
Jul. 08, 2024

First Mover Americas: BTC Rebounds to $57K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories During the Eu...
Markets
Jul. 08, 2024

Germany Sill Holds $2.2B Worth of Bitcoin, Blockchain Data Show

Germany still holds 29,286 BTC worth $2.2 billion, according to Arkham Intelligence. The potential selling pressure equates to 9% of bitcoin's 24-hour trading volume. Germany has been running down its coin stash since mid-June. Germany's bi...
Markets
Jul. 06, 2024

Biden's Odds on Polymarket Little Changed After ABC TV Interview

U.S. President Joe Biden may have seemed more coherent on Friday night's televised interview compared to the debate a week ago, but his odds of reelection did not substantially change, according to traders on crypto-based prediction market platfo...
Markets
Jul. 05, 2024

U.S. Crypto Stocks Sink in Pre-Market Trading as BTC Slumps

The slump coincides with defunct crypto exchange Mt. Gox moving $2.6 billion worth of BTC to a new wallet prior to commencing creditor repayments. Michael Saylor's software company MicroStrategy, which holds over 210,000 BTC, and bitcoin miner ...
Markets
Jul. 05, 2024

Bitcoin Dips Below $54K as Mt. Gox Moves $2.6B in BTC

BTC slides to lowest since late February, breaching key price support. Early Friday, defunct exchange Mt. Gox moved 47,228 to a new address from cold storage. Bitcoin's {{BTC}} sell-off continued during Friday's Asian hours as defunct exchang...
Markets
Jul. 04, 2024

Decoding The $7B Decline in Bitcoin's Notional Open Interest

While notional open interest has dropped, OI in BTC terms has held steady alongside positive funding rates. That's a sign of renewed demand for longs amid the price dip, according to observers. Notional open interest in bitcoin {{BTC}} future...
Markets
Jul. 02, 2024

CoinDesk 20 Performance Update: ADA and XRP Lead

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2161.29, down 0.2% (-3.87) since yesterday's close. Ten of 20 assets i...
Markets
Jul. 02, 2024

Bitcoin's Retreat From $70K Characterized by 'Vol Lethargy'

Deribit's BTC DVOL index, a measure of volatility expectations, has slipped to its lowest since early February. Continued volatility meltdown alongside price drop suggests an absence of demand for options. A renewed upswing in BTC's price to $...
Markets
Jul. 01, 2024

CoinDesk 20 Performance Update: NEAR and AVAX Lead

CoinDesk Indices ( CDI ) presents its daily market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index ( CD20 ). The CoinDesk 20 is currently trading at 2155.7, up 3.1% (+64.67) since last Friday's clo...
Markets
Jun. 28, 2024

First Mover Americas: Bitcoin Awaits PCE Inflation Report

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin conso...
Markets
Jun. 28, 2024

Kaspa's KAS Token Bucks Broader Market, Surges 26% in a Week

The Kaspa blockchain's KAS token is the best-performing top 100 cryptocurrency of the past seven days. The price rally was accompanied by an even-bigger surge in futures open interest. There is always action in some pocket of the crypto marke...
Markets
Jun. 28, 2024

T-Rex Group Files for 2x Long, Inverse Microstrategy ETF

T-Rex Group has filed for new ETFs that take a leveraged long or short position in Microstrategy (MSTR). MSTR is known for its volatility given its heavy exposure to bitcoin. T-Rex Group, the exchange-traded funds (ETFs) issuer, has filed for...
Markets
Jun. 28, 2024

Trump Surges to 67% in Polymarket Odds Post Presidential Debate

Republican candidate Donald Trump's odds of winning the 2024 election surged on Polymarket after the first debate. There's a growing market sentiment on the platform that President Biden will either not be the Democratic nominee or drop out of ...
Markets
Jun. 27, 2024

PoliFi Tokens, BTC Under Pressure Ahead of Biden-Trump Debate

Bitcoin and PoliFi tokens, TRUMP, TREMP and BODEN, suffered losses ahead of Thursday's presidential debate. Crypto traders will closely watch the debate, as Trump has made digital assets a vital issue in his presidential campaign. The consensu...
Markets
Jun. 26, 2024

Investcorp and Securitize Launch Fund Tokenization Partnership

Investment manager Investcorp and Securitize have launched a partnership to tokenize funds. This version of real-world assets (RWA) on the chain looks to build efficiencies for investors. Alternative asset manager Investcorp and Securitize ha...
Markets
Jun. 25, 2024

Mt. Gox Effect? Bitcoin Dominance Drops Most in 5 Months

BTC's dominance rate slid as Mt. Gox news weighs over BTC. Short-duration options show renewed bias for puts or downside protection. Some observers say Mt. Gox concerns may be overblown. Bitcoin {{BTC}} is usually less volatile than alternat...
Markets
Jun. 25, 2024

Bitcoin Holds $61K After a Brief Nosedive

Bitcoin is trading above $61K after plunging to $59K as Asia began its trading day Bitcoin has seen significant selling pressure from continued ETF outflow, Mt. Gox's upcoming bankruptcy redemptions, and miner sales. Bitcoin {{BTC}} is stable...
Markets
Jun. 24, 2024

First Mover Americas: Mt. Gox Repayments Worsen BTC Woes

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bearish senti...
Markets
Jun. 24, 2024

Ether Traders Buy $4K Calls In Anticipation of Record High

A ton of buying activity observed in ether $4,000 calls expiring in September. The bullish flow is consistent with elevated volatility expectations. Catching a falling knife is risky, but some crypto options traders look to be doing just that...
Markets
Jun. 24, 2024

Mt. Gox to Begin Repayments in July; BTC Slides Under $61K

Defunct bitcoin exchange Mt. Gox said it will start distributing assets stolen from clients in a 2014 hack in July 2024, after years of postponed deadlines. The repayments will be made in bitcoin and bitcoin cash, and could possibly add selling...
Markets
Jun. 24, 2024

Japan’s Metaplanet Wants to Buy Another $6M Bitcoin

Metaplanet plans to increase its bitcoin holdings by purchasing an additional $6 million worth of BTC, adding to its existing $9 million investment. The funds for the purchase will come from an upcoming bond issuance on Wednesday. Stock prices ...
Markets
Jun. 24, 2024

Bitcoin Nears $62K as Crypto Bulls See $150M in Liquidation

Major tokens experienced a significant drop of up to 7.5% in the past 24 hours, with Bitcoin losing 3% and other major cryptocurrencies such as Ethereum, Cardano, and Solana also seeing declines. The decline led to the liquidation of over $150 ...
Markets
Jun. 24, 2024

Bitcoin's Double Top Suggests BTC Could Fall to $50K: Analyst

The U.S. election and CPI could be a bullish factor later this year. Fed's preferred inflation gauge, the PCE price index, due Friday, could offer relief. Bitcoin {{BTC}} has carved out a double-top price pattern, signaling a potential bearis...
Markets
Jun. 21, 2024

Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment

Bitcoin's {{BTC}} slow bleed lower over the past weeks has sped up Friday, the price dipping more than 3% in the past 24 hours to slide to about a five-week low of $63,700, now lower by 9% over the past month. Contrarian bulls, however, might t...
Markets
Jun. 21, 2024

Bitcoin ETFs Post $900M in Net Outflows This Week

Spot bitcoin ETFs in the U.S. experienced their fifth consecutive day of outflows on Thursday, totaling over $900 million in losses for the week. Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to ...
Markets
Jun. 20, 2024

Canada's 3iQ Files to List Solana ETP in Toronto

Canadian asset manager 3iQ announced it has filed a prospectus to list a Solana ETF in Toronto. 3iQ was one of the first fund managers to launch a publicly traded Bitcoin fund, as well as an Ether fund in Toronto 3iQ announced today that it h...
Markets
Jun. 20, 2024

LayerZero Says Users Must Pay 10 Cents Per ZRO To Claim Token

LayerZero's ZRO token airdrop requires recipients to donate 10 cents worth of ether (ETH) or a stablecoin for each token they wish to claim. This "proof-of-donation" mechanism is a unique approach in the crypto community, where donations are us...
Markets
Jun. 20, 2024

Stablecoin Issuers Now 18th Largest Holder of U.S. Debt

Stablecoin issuers are the world's 18th biggest holders of U.S. debt. Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law. Stablecoin issuers are...
Markets
Jun. 20, 2024

Dogecoin Traders Appear to Short Token as Meme Coin Frenzy Eases

The crypto market’s biggest meme token is starting to attract short bets amid a general decline in the meme sector, which may spell worry for the meme sector. Coinalyze data shows that Dogecoin {{DOGE}} funding rates have started to turn neg...
Markets
Jun. 20, 2024

Monero's XMR Token Reverses February Slide With Golden Cross

XMR briefly topped $180 last week, reversing the Binance-led February slide. The token has gained nearly 25% in four weeks amid a crackdown on Botnet mining. XMR's daily chart shows a bullish golden cross pattern. It is said that markets typ...
Markets
Jun. 19, 2024

Bitcoin Whales Sold Over $1B BTC in Past Two Weeks: CryptoQuant

Long-term bitcoin holders and miners have been significant sellers of the cryptocurrency in the past two weeks with little indication of renewed buying interest. This trend has been observed through a decrease in UTXO age bands, indicating inc...
Markets
Jun. 19, 2024

Elevated Ether Volatility Expectations May Be Unfounded

The spread between ether and bitcoin implied volatility indexes has widened, reflecting excitement about the potential debut of spot ETH ETFs in the U.S. Volatility pricing may be off the mark because institutions might use the spot ETFs to set...
Markets
Jun. 18, 2024

Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021

Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures. The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in th...
Markets
Jun. 14, 2024

Here's Why Bitcoin's Not Keeping Pace With Nasdaq

Bitcoin lost 6% in one week even as Nasdaq climbed to an all-time high. Crypto-specific factors like profit-taking by holders and increased selling by miners seem to be holding back the BTC price. Bitcoin {{BTC}} has declined over 6% in seven...
Markets
Jun. 14, 2024

Bitcoin ETFs See $226M Outflows Led by Fidelity’s FBTC

U.S.-listed bitcoin ETFs experienced outflows totaling over $226 million on Thursday, marking the third day of outflows this week. This trend echoes the stream of outflows that took place at the end of April. U.S.-listed bitcoin {{BTC}} excha...
Markets
Jun. 13, 2024

First Mover Americas: Bitcoin Holds $67K, CRV Slides

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin held ...
Markets
Jun. 13, 2024

Paxos Cuts 20% of Staff: Bloomberg

Paxos has laid off 65 people as it increases its focus on tokenization. CEO Charles Cascarilla wrote in a company email that the firm is in a "very strong financial position to succeed.” Digital assets company Paxos has laid off 65 people, or...
Markets
Jun. 12, 2024

Bitcoin ETFs See $200M Net Outflows in Fed, CPI Jitters

U.S.-listed spot bitcoin exchange-traded funds (ETFs) recorded the second consecutive day of outflows driven by Grayscale's GBTC. The outflows are likely due to traders derisking ahead of U.S. CPI and the Fed rate decision. U.S.-listed spot b...
Markets
Jun. 11, 2024

Will Trump Trounce Biden? Polymarket Traders Are Betting on It.

This week in prediction markets Do prediction markets have a pro-Trump bias? Or do they just put a premium on the front-runners? Trump and Biden will likely debate, while Trump won't be charged with another felony, Polymarket prices signal. K...
Markets
Jun. 07, 2024

Big Friday Crypto Selloff Pulls Bitcoin Below $70K

Challenging an all-time high earlier Friday, bitcoin has pulled back, giving up most of its weekly gains The selloff in the rest of the cryptocurrency market was far larger as speculative fever cooled The spot bitcoin ETFs are on their largest...
Markets
Jun. 07, 2024

Bitcoin Could Lift to $83K in the Coming Days, Analyst Says

10x Research projects a rally to $83,000 based on technical analysis. The bullish breakout is likely to happen on Friday or next week. Bitcoin {{BTC}} may be setting up for a rise to $83,000 as it completes a major bullish price pattern on th...
Markets
Jun. 07, 2024

Bitcoin Bets Hit Peak of $37B as ETF Inflows Set New Record

Bitcoin traders have set a new record for BTC futures positions, with open interest surpassing $37.7 billion. The surge in open interest coincides with record inflows into spot bitcoin ETFs and a bullish long-short ratio, indicating positive ma...
Markets
Jun. 05, 2024

VanEck Sees Ether Hitting $22K by 2030

VanEck projects that ether will hit $22,000 by 2030. This thesis is based upon ether's disruptive ability, progress with the ETF, and VanEck's read of on-chain data. VanEck has a new price target for ether {{ETH}}, the native token of the Eth...
Markets
Jun. 04, 2024

Bain Capital Crypto Raising Second Fund: Filing

Bain Capital Crypto is planning to launch a second fund, according to a U.S. Securities and Exchange Commission filing . Bain Capital launched its first crypto fund in March 2022. The $560 million fund launched just before the collapse of Do ...
Markets
Jun. 04, 2024

Uniswap, Starknet, BNB Lead Altcoin Gains as Bitcoin Hits $71K

Bitcoin hit a two-week high above $71,000 before paring gains, up 1.5%. May ISM manufacturing data showed a slowing U.S. economy, buoying rate cut expectations. Bitcoin miners CORZ, WULF, BTDR booked double-digit gains. Several altcoins led ...
Markets
Jun. 04, 2024

Options Traders Brace for Volatility as BNB Nears Record High

BNB is less than 10% away from its record high of $705. Options traders remain cautious with purchases of puts with strikes from $550-$650. BNB has been performing well due to high participation in Binance Launchpad and Launchpool projects. ...
Markets
Jun. 04, 2024

Bitcoin-Based Meme Coin DOG Rockets Toward $1B Market Cap

DOG market cap is approaching $1 billion following a 200% rise in the past month. It is the largest meme coin on the Bitcoin blockchain and the seventh largest overall. The rally comes after a 60% decline following its launch and the bitcoin h...
Markets
May. 31, 2024

Bitcoin's Short Term Momentum Flips Bearish; Support Under $65K

Technical indicators suggest that bitcoin’s short-term momentum has flipped bearish. The 50-day simple moving average marks major support at $64,870. Technical indicators that gauge bitcoin's {{BTC}} price movement over the short term have fl...
Markets
May. 29, 2024

Bitcoin, Ether Prices Ease as SHIB Drives Gains in Meme Tokens

Bitcoin and ether prices fell slightly while meme tokens saw significant gains. The surge in meme coins such as shiba inu, was probably driven by Asia-based traders and linked to the excitement around the potential for a pro-crypto shift by U.S...
Markets
May. 27, 2024

Uniswap Foundation Shares Balance Sheet as Fee Vote Nears

As of the end of Q1, the Uniswap Foundation held $41.41 million in fiat and stablecoins and 730,000 UNI tokens. The Foundation committed $4.34 million in new grants, disbursed $2.79 million previously, and designated UNI tokens for employee awa...
Markets
May. 24, 2024

Kabosu, Dog Who Inspired Dogecoin And Shiba Inu, Is No More

Popular dog Kabosu, the face of dogecoin and several other meme tokens, passed away early Friday, his owner wrote in a blog post . He was over 17 years old. “We will be holding a farewell party for Kabo-chan on Sunday, May 26th . It will be h...
Markets
May. 23, 2024

U.S. Bitcoin ETF Holdings Hit New High of More Than 850K Tokens

U.S.-listed spot bitcoin exchange-traded funds yesterday reached new record by holdings with more than 850,000 BTC in custody, surpassing the previous high above 845,000 BTC from early April. Among ETFs, Grayscale’s GBTC holds the largest amoun...
Markets
May. 23, 2024

Ether's Bull Momentum Is Strongest Since May 2021

A popular technical study says ether's ongoing uptrend is as strong as the one in May 2021. Other indicators like the RSI suggest the same, with immediate resistance lined up at $4,090. What's the opposite of the famous market phrase "don't c...
Markets
May. 22, 2024

AI-Focused Tokens Edge Higher Ahead of Nvidia Earnings Results

Artificial intelligence-focused cryptocurrencies climbed Wednesday, defying the muted action of the broader digital asset market ahead of the quarterly earnings report of chip-making heavyweight Nvidia (NVDA) due later. Large-cap AI tokens such ...
Markets
May. 21, 2024

MOG, PEPE Rocket as Traders Search for Ether Beta Bets

Tokens on the Ethereum ecosystem, including meme coins like MOG and PEPE, surged after Bloomberg analysts raised their odds of spot ether ETF approval. The new odds, 75% vs 20%, contributed to a market-wide jump, with ether rising over 17% in a...
Markets
May. 21, 2024

Ether ETF Hopes Drive Futures Open Interest to Record $14B

Notional open interest in futures tied to ether surged 25% in a single day. The increase is a sign of investor hopes that the SEC will approve spot ether ETFs. Ether {{ETH}} futures are more popular than ever, following the sudden, positive t...
Markets
May. 17, 2024

Steven Cohen's Point72 Also an Owner of Bitcoin Via Spot ETFs

Steve Cohen's Point72 held $77.5 million of the Fidelity Wise Origin Bitcoin Fund in the first quarter. Point72 joins several other hedge funds who have disclosed allocations into the spot bitcoin ETFs. Point72, the $34 billion hedge fund of ...
Markets
May. 17, 2024

Fantom Outperforms CoinDesk 20 Over Past Week as TVL Jumps

Fantom's FTM token rose 13% in the past week, outperforming the broad market CoinDesk 20 Index. Investors look favorably upon the blockchain's continuing Sonic upgrade, as well as an increase in the TVL of many decentralized apps. The Fantom ...
Markets
May. 16, 2024

SHIB to Get More Scarce as Key Exchange Expands to Shibarium

ShibaSwap expanded to the Shibarium blockchain, allowing users to create new liquidity pools and earn fees from providing liquidity. Increased transactions on the Shibarium blockchain will lead to a higher burn rate for the SHIB token, reducing...
Markets
May. 15, 2024

Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally

BTC climbed to its highest price since April 24, while Solana's SOL and NEAR led crypto gains. Bitcoin could target the $84,000 level with altcoins performing well, Swissblock said. Crypto markets rallied with Wednesday's as softer-than-expec...
Markets
May. 15, 2024

Bitcoin Nears $63K as Bulls Chew Through 'Taker Selling'

According to pseudonymous analyst Skew, “Taker selling” over Binance is matched by spot buying on Coinbase and Bitfinex. The dollar index drops ahead of the pivotal U.S. CPI release. Bitcoin {{BTC}} chalked out modest gains Wednesday, chewing...
Markets
May. 14, 2024

GameStop Rally Sends Meme Coins Skywards; PEPE, FLOKI, MOG Surge

Meme coins surged after a post by Keith Gill, a retail trader whose online persona and investment strategies contributed to the GameStop short squeeze in 2021. The meme coin surge was not limited to microcap tokens but also impacted larger tok...
Markets
May. 13, 2024

No, Hong Kong's Crypto ETFs Aren't Available in Mainland China

The HKEX confirms that crypto ETFs aren't available to mainland China investors, despite persistent rumors otherwise Hong Kong's crypto ETFs, because of their unique in-kind redemption model, would offer a means to bypass mainland China's capit...
Markets
May. 13, 2024

Stablecoin Expansion Stalls Ahead of U.S. Inflation Data

The expansion of the top three stablecoins, USDT, USDC and DAI, a powder keg used to fund token purchases, has stalled since the bitcoin halving. A potential soft U.S. CPI print on Wednesday may revive inflows into the market. China's plan to ...
Markets
May. 10, 2024

Bitcoin's Modest Rally Cut Short, Price Tumbles Back Below $61K

The price of bitcoin {{BTC}} fell sharply in the U.S. morning hours Friday, reversing a move that had seen the world's largest crypto climb as high as $63,500. As good of an excuse as any for catalysts were disappointing U.S. economic data and h...
Markets
May. 10, 2024

TON, RNDR Surge More Than 13% as Bitcoin Rebounds to $63K

TON, RNDR have rallied over 13% in 24 hours, leading crypto markets higher. RNDR cheers Apple's brief mention of Render-powered 3D design software Octane. Alternative cryptocurrencies with positive news flows are shining bright as the bitcoin...
Markets
May. 10, 2024

Dogecoin Appears Headed for a 'Golden Cross'

DOGE's weekly price averages appear on track to confirm a bullish golden cross. The previous golden cross, seen in early January 2021, presaged an 8,000% price surge. Dogecoin {{DOGE}}, the world's largest meme cryptocurrency by market value,...
Markets
May. 09, 2024

Meme Coin Demand Is Stronger Than Ever, Crypto Analyst Says

CoinMarketCap registered a record 138 meme coins in April, according to pseudonymous analyst Crypto Coryo. Fast money has been chasing PEPE and WIF. The meme coin season continues to march forward, undeterred by the stalled rally in bitcoin {...
Markets
May. 09, 2024

'Boden' Memecoin Surges After Trump Quips About It

The old saying "any publicity is good publicity" appears to hold true for memecoins. Even the flimsiest kind of publicity. Jeo Boden {{BODEN}}, a joke crypto token referring to a misspelling of U.S. President Joe Biden's name, surged as much a...
Markets
May. 08, 2024

Stablecoin Surge: Tether's Headroom for Growth

The market cap for stablecoins has grown considerably in the past six months, increasing from $122 billion in October 2023 to $157 billion in April 2024. Among stablecoin providers, Tether (USDT) has captured a significant market share, exceeding...
Markets
May. 08, 2024

What Technical Analysis Tells Us About the Bitcoin Market

Technical analysis has long been relied upon for investing in cryptocurrencies. The discipline lends itself well to the highly-volatile asset class, not only because cryptocurrencies are momentum-driven, but also because they are generally subjec...
Markets
May. 08, 2024

First Mover Americas: Bitcoin Hovers Above $62K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin slid ...
Markets
May. 08, 2024

Key Bitcoin Indicator Points to Period of Calm in Crypto Market

BTC's volatility risk premium (VRP) has collapsed since halving, a sign traders foresee relatively stable market conditions ahead. ETH's VRP remains elevated compared to bitcoin. A week ago, Arthur Hayes, the former CEO of the BitMEX crypto e...
Markets
May. 07, 2024

First Mover Americas: Bitcoin Settles Into $63K-$64K Range

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin fluct...
Markets
May. 07, 2024

Robinhood Would Likely Win Crypto Court Case With the SEC: KBW

The SEC issuing Robinhood a Wells Notice is surprising, KBW said. The broker expects no change to the platform’s current U.S. crypto operations or asset listings. Robinhood has a higher likelihood of winning a case with the SEC than most of it...
Markets
May. 07, 2024

Bitcoin Rebound Has Crypto Options Traders Anticipating $100K

Bitcoin rebound spurs demand for out-of-the-money calls at strikes from $70,000 to $100,000. Analysts said the path of least resistance for bitcoin is on the higher side. Bitcoin's {{BTC}} renewed price upswing has options traders reconsideri...
Markets
May. 03, 2024

Bitcoin's Price Recovery Faces Nonfarm Payrolls Test

BTC traded little changed while the dollar index fell, maintaining the post-Fed bearish momentum. The U.S. NFP report is expected to show the pace of job creation slowed in March. Bitcoin's price sell-off has stalled since Wednesday's Fed mee...
Markets
May. 03, 2024

Crypto Exchange Coinbase Had a Blowout First Quarter: Analysts

Coinbase had a blowout first quarter as crypto market conditions improved, analysts said Canaccord and KBW raised their price targets while maintaining their ratings. Coinbase shares slipped 3.7% in premarket trading on Friday. Coinbase (COI...
Markets
May. 03, 2024

Friend.Tech's Native Token Tanks to $2.5 After Debut

Friend.Tech airdropped its native token, FRIEND, while debuting version 2 of the platform. The token's price plummeted from as high as $169 immediately after the airdrop to $2.5. Decentralized social platform Friend.Tech on Friday airdropped ...
Markets
Apr. 30, 2024

Bitcoin Slips Under $62K as Hong Kong ETFs Disappoint

BTC, ETH nurse losses after weak demand for Hong Kong ETFs. The six ETFs registered a first-day trading volume of just $11 million. Bitcoin {{BTC}} faced selling pressure during European hours after data showed poor uptake for Hong Kong’s new...
Markets
Apr. 30, 2024

Hong Kong Bitcoin and Ether ETFs Have Soft Debut

Hong Kong’s crypto ETFs had a soft debut, with trading volume much lower than expected. The total trading volume for bitcoin ETFs was $8.5 million, while ether ETFs saw $2.5 million. Hong Kong’s bitcoin {{BTC}} and ether {{ETH}} ETFs failed t...
Markets
Apr. 26, 2024

ARK Sells Last of Its ProShares Bitcoin Futures ETF Shares

ARK bought over 4 million BITO shares late last year as a short-term play in anticipation of the approval of spot bitcoin ETFs in the U.S., with plans to swap them once the approval came. Following consistent sales in January, ARK has sold the ...
Markets
Apr. 26, 2024

Bitcoin Stable Above $64K While ETF Outflows Hit $200M

BTC is trading above $64K even as outflows accelerate. The correlation between ETF outflows and BTC’s price is weakening. Bitcoin {{BTC}} is trading above $64K in the early afternoon of East Asia’s trading day, even as outflows from bitcoin e...
Markets
Apr. 25, 2024

BlackRock's Bitcoin ETF Snaps 71-Day Inflows Streak, Data Show

BlackRock's spot bitcoin ETF did not draw any investor money on Wednesday, the first such instance since the fund's inception three months ago. Inflows have slowed this month, taking the wind out of the bitcoin bull run. BlackRock’s spot bitc...
Markets
Apr. 24, 2024

Renzo Restaked ETH Suffers a Brief Crash on Uniswap

Renzo restaked ETH (ezETH) crashed as low as $750 early Wednesday, trading at a massive discount to wrapped ether (WETH). The sell-off was likely catalyzed by users looking to reclaim their ETH in low liquidity conditions and large liquidations...
Markets
Apr. 24, 2024

Number of Stablecoin Holders Nears 100M Mark, Data Show

The number of addresses holding stablecoins has risen 15% this year. Rating agency S&P 500 said regulatory clarity could bring banks into the stablecoin market. Stablecoins are hotter than ever. The number of addresses holding dollar and ...
Markets
Apr. 24, 2024

Bitcoin Bulls Pin Hopes on Weaker Dollar to Extend Rally

The Dollar Index's (DXY) recent pullback has crypto traders betting on a continued weakness in the greenback and a renewed bitcoin rally. Societe Generale and Scotiabank expect the dollar to remain firm due to divergent interest rate expectatio...
Markets
Apr. 24, 2024

Bitcoin, Ether Coil as Crypto Traders in Limbo After Halving

Bitcoin and Ether were stable in the morning hours of the Asia trading day The CoinDesk 20 Index is flat as traders can't decide on a direction to take. Bitcoin {{BTC}} and ether {{ETH}}, the crypto market leaders, continue to trade in tight ...
Markets
Apr. 23, 2024

Akash Network’s Token Surges 50% on Upbit Listing

The AKT token is up more than 50% over the past 24 hours. Cloud computing platform Akash was built using the Cosmos software development kit (SDK) and implemented on the Cosmos blockchain . The AKT token has a market capitalization of over ...
Markets
Apr. 23, 2024

OP, YGG Feeling Sell-Side Pressure as Unlocks Loom

OP, YGG, and DYDX have scheduled unlocks this week, where previously unavailable tokens will be released into the market. While OP and YGG are down against the CD20, DYDX seems to be less affected. Ethereum Layer 2 solution Optimism's native ...
Markets
Apr. 22, 2024

NYSE Asks Market Participants About 24/7 Trading for Stocks

The New York Stock Exchange is seeking opinions from market participants about shifting the U.S. stock market to a 24/7 operating schedule. Round-the-clock trading became popular during the Covid-19 pandemic, when the trading of cryptocurrencie...
Markets
Apr. 22, 2024

Polymarket Odds Say Columbia University President Will Keep Job

Columbia University president's job is probably safe, Polymarket traders signal. Taylor Swift's new album is unlikely to break her record, Kalshi odds say. Traders are betting on a DeFi controversy. The president of Columbia University is f...
Markets
Apr. 22, 2024

First Mover Americas: Bitcoin Layer 2s Have Their Moment

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Tokens associ...
Markets
Apr. 22, 2024

Bitcoin Transaction Fees Come Crashing Down Post Halving

Bitcoin transaction fees have significantly come down post-halving The floor price for the Runes NFT collection has also come down. Runes was supposed to be the tool that maintained fee revenue post-halving Bitcoin {{BTC}} started the week st...
Markets
Apr. 19, 2024

Polymarket Traders See 32% Chance of No Fed Rate Cuts This Year

Traders on Polymarket now put the probability of the Fed holding rates steady in 2024 at 32%, compared to 7% in March. Traditional markets have scaled back expectations to two 25 basis points rate cuts from six in early January. The probabili...
Markets
Apr. 19, 2024

Bitcoin Dips Below $60K as Israel Launches Strike on Iran

{{BTC}} fell 5%, dipping below $60,000 before quickly recovering to about that level, as Israel hit back against Iran for a missile strike last week. ABC News first reported that Israel had launched a retaliatory strike against Iran Friday mor...
Markets
Apr. 18, 2024

Bitcoin Likely to Drop After the Halving, JPMorgan Says

JPMorgan said it expects bitcoin to fall after the reward halving. The bank’s analysis shows that the cryptocurrency remains overbought. Miners will be most affected by the event, the report said. The bitcoin {{BTC}} price is likely to weake...
Markets
Apr. 17, 2024

Bitcoin Miners Are Set for a Coiled Spring Rally

Since around 2017, our team has been researching the infrastructure opportunities available to investors in the public markets. I am pleased to see close-to-record highs in daily revenues as we approach the fourth halving, predicted around April ...
Markets
Apr. 17, 2024

Ether Options Show Bias for Weakness Over 3 Months

Ether's 90-day puts are more expensive than calls on Deribit for the first time since January, according to Amberdata. The sentiment is relatively bullish in the bitcoin options market. Crypto investors are now betting that Ethereum's native ...
Markets
Apr. 17, 2024

Buy Bitcoin Miners Ahead of the Halving, Bernstein Says

Bernstein recommends buying bitcoin miners Riot Platforms and CleanSpark ahead of the halving. Bitcoin’s bullish trajectory to resume after the reward halving, Bernstein said. The broker maintained its cycle high forecast of $150,000 by 2025. ...
Markets
Apr. 17, 2024

Ether Prices in Downtrend as Bitcoin Challenges $64K

BTC is up, trading above $64,000 while ETH prices continue to decline. The CD20 is flat, trading at 2,174. Ether {{ETH}} was changing hands just above $3,000 during the opening hours of the Asia trading day as the CoinDesk Indices Ethereum T...
Markets
Apr. 16, 2024

PSG Fan Token Jumps 25% as Football Club Triumphs Over Barcelona

Football club Paris Saint-Germain's fan token PSG spiked Tuesday as the French team secured a 4-1 victory over rival Barcelona in the UEFA Champions League quarterfinal. The token jumped as much as 25% after a blistering rally that began with PS...
Markets
Apr. 16, 2024

Spot Bitcoin ETF Hype Dies Down, Normalcy Sets In

Spot bitcoin ETF flows have slowed after weeks of heavy buying. Only IBIT, BlackRock's iShares Bitcoin Trust, continues its streak of consecutive daily positive flows. This is a normal development within the ETF space, an expert said. The in...
Markets
Apr. 16, 2024

Bitcoin Could Surge to $120K on 'Doomsday Rally,' Trader Says

Geopolitical events and the search for an investment hedge led some traders to say bitcoin could surge in the coming months, despite a recent 10% weekly drop in its value. The correlation between bitcoin and traditional market assets remains hi...
Markets
Apr. 15, 2024

Ether, Altcoins Remain Under Pressure Following Volatile Weekend

Ether {{ETH}}, the second largest cryptocurrency by market value, hovered just above the $3,100 mark in early afternoon U.S. hours on Monday, struggling to retain gains made since the crypto market's panicky selloff on Saturday. While ahead 4% o...
Markets
Apr. 15, 2024

Bitcoin From Rare 'Satoshi Era' Moves After 14 Years of Dormancy

An early crypto miner moved 50 BTC, worth over $3 million, after 14 years of inactivity, with part of the transfer ending up at crypto exchange Coinbase. The transaction joins the few instances of "Satoshi era" bitcoin movements, following othe...