XBO.com
  • Crypto Exchange
  • Buy Crypto
  • Spot Trading
  • Loyalty
  • Security
  • News
  • XBO for Corporates XBO.com - Image
  • About us XBO.com - Image
  • Support hub XBO.com - Image
  • Blog XBO.com - Image
  • Media XBO.com - Image
  • Legal XBO.com - Image
English Active language
Available languages
  • Spanish Choose language
  • Portuguese Choose language
XBO.com - Login Login Registration

Search

For example: Bitcoin, Calendar, EURUSD
Didn't find what you were looking for? Contact our Customer Support
news-uncategorized Markets Business Tech Policy General
Markets
May. 30, 2023

First Mover Asia: Does Crypto’s Success Depend on the Upcoming Presidential Election?

Good morning. Here’s what’s happening: Prices: The post-debt ceiling rally in the crypto market has ended, with bitcoin and ether declining in East Asia. What's the next narrative for crypto? Insights: The latest Commitment of Traders rep...
Markets
May. 29, 2023

Dogecoin Chart Pattern Suggests Volatility Explosion Ahead

Dogecoin (DOGE), the meme cryptocurrency known for its rapid price moves, has been unusually calm this year, underperforming market leaders bitcoin (BTC) and ether (ETH) by a significant margin. One technical analysis indicator called Bollinger ...
Markets
May. 29, 2023

Bitcoin's Short-Term Holders Are Again Selling at Profit

Bitcoin's (BTC) near-term outlook appears constructive as blockchain data show short-term holders of the cryptocurrency are moving coins at a profit. The seven-day moving average of the short-term holder's (STH) spent output profit ratio (SOPR) ...
Markets
May. 29, 2023

Shiba Inu-Themed Floki Sees Trading Volume Surge Amid China Plans

Floki (FLOKI) spiked over 10% on Sunday and saw its highest trading volumes in over three weeks as traders bet on the tokens amid a China-focused push for its Valhalla metaverse game. Trading volumes for the tokens, which are fashioned after t...
Markets
May. 29, 2023

First Mover Asia: Bitcoin Rises Past $28K on Debt Ceiling Deal

Good morning. Here’s what’s happening: Prices: Crypto and Asian stock markets opened strongly as the White House announced a deal averting a debt ceiling crisis, with Bitcoin and Ether seeing increases of 5% and 4.9%, respectively. Insight...
Markets
May. 26, 2023

First Mover Americas: Digital Currency Group is Closing Down TradeBlock

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 Digital Curren...
Markets
May. 26, 2023

Ether Balance on Exchanges Nears All-Time Low

The number of ether ( ETH ) on exchanges has hit a low not seen since July 2016 as staking saps up available ether. Data from Glassnode shows that as of Thursday, 14.85% of all ether was held in wallets owned by centralized exchanges. The market...
Markets
May. 26, 2023

Milady NFTs Get Dogecoin Treatment as Prices Retrace Days After Elon Musk Tweet

Prices of the popular Milady NFT collection have retracted gains from the past weeks as holders likely took profits on a move influenced by an Elon Musk tweet. Earlier in May, the Milady collection spiked after receiving acknowledgment from Twit...
Markets
May. 26, 2023

The Invisible Hand Restricting Bitcoin and Ether Price Swings

Bitcoin (BTC) and ether (ETH), the top two cryptocurrencies by market value, have been unusually calm for over two weeks. The range play probably stems from the market running into competing narratives and influences. There is another powerful f...
Markets
May. 25, 2023

First Mover Asia: Bitcoin Holding Pattern Continues as Lawmakers' Make Progress in Debt Limit Negotiations

Good morning. Here’s what’s happening: Prices: Bitcoin hovered near $26.5K for much of Thursday as investors shrugged over unexpectedly strong jobs and productivity data. Insights: Nvidia GPUs were useful in AI because they can process la...
Markets
May. 25, 2023

Bitcoin Lingers Below $26.5 Amid Debt Ceiling Worries

The U.S. announced unexpectedly strong unemployment and GDP data, but crypto investors had debt ceiling negotiations on their minds, Thursday. They recently kept bitcoin lingering under $26,500, up about 0.3% but below its most recent nearly two...
Markets
May. 25, 2023

First Mover Americas: Bitcoin Falls to $26K; Is $24K Next?

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's ( B...
Markets
May. 25, 2023

Bitcoin Options Market Signals Weakness over Six Months Amid Debt Ceiling Drama

Bitcoin's (BTC) options market is showing bias for weakness over six months for the first time since early March as the U.S. debt ceiling drama continues. The six-month call-put skew, which measures the difference between what investors are wi...
Markets
May. 25, 2023

Bitcoin's 'Ichimokou Cloud' Suggests Deeper Drop Toward $24K: Technical Analysis

Bitcoin's (BTC) recent price slide may have legs, according to technical analysis by alternative asset management firm Valkyrie Investments. The leading cryptocurrency by market value has declined by 10% to $26,200 this month, thanks to renewed ...
Markets
May. 25, 2023

First Mover Asia: Bitcoin Holds Below $27K Amid Macro Uncertainties

Good morning. Here’s what’s happening: Prices: Bitcoin remains in the red as Asian markets open and investors consider U.S. debt ceiling woes and other uncertainties. Insights: In an interview with CoinDesk, Market maker Flowdesk's CEO se...
Markets
May. 24, 2023

Stablecoin Market Shrinks for 14th Straight Month, Posing Potential Headwinds for Crypto Prices

The stablecoin market is on track to shrink for the 14th consecutive month, a sign of capital draining from the digital asset space, and a troubling trend for the recovery of cryptocurrency prices. The total market capitalization of stablecoins ...
Markets
May. 24, 2023

Bitcoin’s Doldrums Below $26.5K Endure as Investors Weigh Debt Ceiling Stalemate, Latest FOMC Minutes

After two weeks of flatlining, crypto markets finally endured a little change of pace as investors spooked by UK inflation and the latest Janet Yellen warning about the U.S. debt ceiling stalemate sent prices reeling on Wednesday. The release ...
Markets
May. 24, 2023

Bitcoin’s Declining Correlation With Stocks Revives Its Appeal for Investors: K33 Research

A declining correlation between bitcoin ( BTC ) and equities is rejuvenating the case for investors to include the asset in a more diversified portfolio, crypto market research firm K33 noted in a report . BTC’s 30-day price correlation with th...
Markets
May. 24, 2023

AI Can Generate a Trading Edge in Crypto Markets

If you ask a large language model (LLM) like ChatGPT how to choose an LLM, it will give you an answer such as this from GPT-4: “Choosing the best large language model is a lot like speed dating: you ask it a few questions, hope it impresses you...
Markets
May. 24, 2023

Crypto’s Quirky Automated Market Makers and How They Differ From TradFi Exchanges

The conceptual simplicity of cryptocurrencies drives much of the excitement and adoption of the asset class. Cryptocurrencies are, by and large: digital units of account … that store value … and that can be exchanged for other items of value....
Markets
May. 24, 2023

Voltz Protocol Brings a Wall Street Rates Stalwart to DeFi

Voltz Protocol, an automated market maker (AMM) for interest-rate swaps, is bringing one of the stalwarts of traditional finance (TradFi) on-chain. Anyone who can access Voltz will be able to trade products tied to the Secured Overnight Financin...
Markets
May. 24, 2023

First Mover Americas: Bitcoin Dips Below $27K After Hot UK 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 sli...
Markets
May. 24, 2023

Bitcoin, Ether Slip as UK Core CPI Reaches Highest Since 1992

Bitcoin slid under the $27,000 level during the Asia trading day, which lead to a market-wide decline in major cryptocurrencies as traders in broader equity markets reacted to poor U.K. inflation figures. The hotter-than-expected U.K. core Con...
Markets
May. 24, 2023

'Chinese Ethereum’ Conflux Draws Spotlight as Hong Kong Welcomes Retail Traders

Tokens of Conflux Network (CFX) – an Asia-focused blockchain that some have dubbed the “Chinese Ethereum” – saw a spike in prices earlier amid increased attention from traders after Hong Kong decided to let retail investors trade crypto , whic...
Markets
May. 24, 2023

First Mover Asia: Crypto’s Narrative of This Season Is No Narrative at All

Good morning. Here’s what’s happening: Prices: Crypto's narrative this year has varied so widely that one dominant thread is difficult to pin down. BTC was hovering comfortably above $27K. Insights: Crypto in Hong Kong won't resemble what...
Markets
May. 23, 2023

Bitcoin Climbs Past $27.4K but Remains in Holding Pattern as Investors Continue U.S. Debt Limit Vigil

Stocks dropped but bitcoin ( BTC ) continued its stodgy ways in Tuesday trading. The largest cryptocurrency by market capitalization was recently trading near $27,200, up 1.1% over the past 24 hours. Bitcoin topped $27,400 shortly before Europea...
Markets
May. 23, 2023

Bitcoin HODLing Has Never Been More Popular

Investors are hanging onto their bitcoin (BTC) longer than ever – HODLing in industry parlance – according to data from Glassnode . The proportion of BTC that’s been held for at least a year has climbed to a record 68%, Glassnode data shows, wh...
Markets
May. 23, 2023

Bitcoin Jumps to Key Price Resistance as Hong Kong Opens Crypto Trading for Retail Investors

Bitcoin ( BTC ) rose to key price resistance early Tuesday as Hong Kong said retail investors could trade digital assets from June 1. Hong Kong's Securities and Futures Commission (SFC) announced that it would accept applications from exchange...
Markets
May. 23, 2023

Justin Sun Moves $4.3M of MakerDAO's Tokens to Binance: Blockchain Data

Crypto investor and Tron network founder Justin Sun transferred $4.3 million worth of MakerDAO’s maker ( MKR ) tokens to crypto exchange Binance early Tuesday. When investors send tokens to an exchange, it often suggests they plan to sell. Rep...
Markets
May. 23, 2023

First Mover Americas: Interest in Staking Ether Ramps Up

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 Interest in ...
Markets
May. 23, 2023

MicroStrategy Shares Offer Better Exposure to Crypto Than Coinbase: Berenberg

MicroStrategy (MSTR) represents an attractive alternative to Coinbase (COIN) for investors looking to gain exposure to the cryptocurrency sector, Germany investment bank Berenberg said in a report Monday. Investors who are very bearish on Coinba...
Markets
May. 23, 2023

Crypto Market Near-Term Upside Is Likely Capped: Bank of America

There is limited upside for cryptocurrency markets in the near-term, Bank of America (BAC) said in a research report Friday. “Low conviction, limited catalysts and outperformance year-to-date leave the digital asset sector stuck in a trading ran...
Markets
May. 23, 2023

Number of Ether Staked Has Surged By 4.4 Million Since Shapella Upgrade

Interest in staking ether (ETH), or locking coins in the Ethereum network to earn passive yield, has surged since Ethereum implemented the Shapella or Shanghai upgrade on April 12. Data tracked by Glassnode show more than 4.4 million coins h...
Markets
May. 23, 2023

Shiba Inu’s Puppynet Testnet Logs 10M Transactions, Putting Ecosystem Tokens in Focus

Shibarium network’s native test network, Puppynet, crossed 10 million transactions earlier this week in a sign of rising activity ahead of a release on the mainnet planned for later this year. Blockchain explorer data shows the Puppynet testne...
Markets
May. 23, 2023

First Mover Asia: Bitcoin Holds Steady Near $27K as Investors Weigh Debt Ceiling Developments

Good morning. Here’s what’s happening: Prices: Bitcoin at $26.8K maintains its debt-ceiling holding pattern. Insights: Crypto as a hedge? The citizens in two large, emerging countries and other major significant economies seem to be turni...
Markets
May. 22, 2023

Bitcoin Spurs 5th Consecutive Week of Outflows at Crypto Investment Funds: CoinShares

Digital asset investment products have witnessed outflows for the fifth consecutive week as bitcoin ( BTC ), the world’s largest cryptocurrency by market capitalization, has traded down in May. Outflows last week came to $32 million, pushing the...
Markets
May. 22, 2023

USDT Trading Volume Falls to Multi-Year Lows, Market Cap Rise Is ‘Questionable:’ Kaiko

Trading with Tether’s USDT stablecoin has fallen to multi-year lows, making the token’s rise to near all-time highs in market capitalization “questionable,” crypto market research firm Kaiko said in a Monday report . As stablecoins’ primary u...
Markets
May. 22, 2023

U.S. Debt Deal Could Weigh on Bitcoin Price, Some Say

As the deadlock in negotiations to raise the U.S. government's $31.4 trillion debt limit keeps markets tentative, some analysts have gone against consensus, warning that a potential deal may bring pain to the crypto market. The U.S. reached it...
Markets
May. 22, 2023

First Mover Americas: Bitcoin Price Edges Lower, Tron Rallies

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 and st...
Markets
May. 22, 2023

Bitcoin's Trading Range Narrows to Tightest in Months

The crypto market has become boring, with bitcoin (BTC), the world's biggest digital asset by market value, settling into the tightest price range for months despite lingering concerns about the stability of U.S. regional banks and the country's ...
Markets
May. 22, 2023

Tornado Cash’s TORN Token Up 10% as Attacker Submits Proposal to Undo Attack

The Tornado Cash token (TORN) is up 10% after a proposal submitted by a wallet address linked to a recent attack on the decentralized autonomous organization’s ( DAO ) governance state looks to reverse the malicious changes. “The attacker po...
Markets
May. 22, 2023

First Mover Asia: Will Bitcoin Soon Begin a Retest of 30K?

Good morning. Here’s what’s happening: Prices: Bitcoin is in consolidation mode before an eventual retest of $30,000, says BitBull Capital. Insights: The crypto industry is spending less than other industries on lobbying. That may need to...
Markets
May. 19, 2023

Demand for Tokenized Treasury Bonds Soars as Crypto Investors Chase TradFi Yield

Crypto investors’ demand for tokenized versions of U.S. Treasury bonds is soaring as rising yields in traditional financial markets attract. The combined market capitalization of tokenized money market funds nears $500 million, and has quadruple...
Markets
May. 19, 2023

Bitcoin Hovers Below $27K as Fed Chair Powell Makes Modestly Dovish Comments

Bitcoin ( BTC ) continued to hold below $27,000 as U.S. Federal Reserve Chair Jerome Powell said stress in the banking sector might allow the central bank to ease back on rate hikes as it looks to curb hot inflation. The largest cryptocurrency b...
Markets
May. 19, 2023

Bitcoin in Stasis Below $27K Ahead of Powell Speech

The crypto market remained risk-averse early Friday, with the focus turning to an impending speech by Fed Chair Jerome Powell following Thursday's hawkish comments by other central bank officials. Bitcoin ( BTC ) traded flat at just below $27,00...
Markets
May. 19, 2023

First Mover Americas: Litecoin Might Be Trading at a Discount

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 An onchain met...
Markets
May. 19, 2023

Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan

The stablecoin universe continues to shrink, and until this stops, a sustained recovery in crypto prices is unlikely, JPMorgan (JPM) said in a research report Thursday. A stablecoin is a type of cryptocurrency that is pegged to another asset, ...
Markets
May. 19, 2023

XRP Bucks Bitcoin-Led Slide in Majors as SEC Case Tilts in Ripple’s Favor

The XRP token as much as 5% in the past 24 hours after reports that the U.S. Securities and Exchange's (SEC) landmark case against Ripple was tilting in favor of the blockchain firm. At the time of writing, XRP was trading over 2% higher at 46...
Markets
May. 19, 2023

Litecoin Is Undervalued, Onchain Indicator Suggests

An onchain metric suggests that litecoin (LTC), the 12th largest cryptocurrency by market value, is trading at discounted prices. Litecoin's market value to realized value (MVRV) Z-score was negative at press time. A sub-zero score indicates the...
Markets
May. 19, 2023

First Mover Asia: Traders Long on Bitcoin Despite Debt Ceiling Challenges, Dark U.S. Regulatory Clouds

Good morning. Here’s what’s happening: Prices: Despite market uncertainties affecting bitcoin and ether prices, traders in Asia remain optimistic due to clearer regional cryptocurrency regulations. Insights: GrumpyCat, a meme coin, is set...
Markets
May. 18, 2023

Bitcoin Drops Below $27K as Investors Continue to Weigh Debt Ceiling Talks, Regulatory Actions

Bitcoin ( BTC ) tumbled back below $27,000, reversing its advance from a day ago as investors continued to weigh the ongoing debt ceiling talks in Washington, D.C. and the latest regulatory moves. The largest cryptocurrency by market capitalizat...
Markets
May. 18, 2023

Galaxy Executed its First OTC Options Trade as Demand for On-Chain Options Ramps Up

Galaxy Digital’s first over-the-counter (OTC) option trade , executed earlier this week, marks a tangible step toward bringing the conventional financial system onto decentralized finance (DeFi) infrastructure. FTX’s blowup and the collapse of ...
Markets
May. 18, 2023

Litecoin Leaves Bitcoin and Ether Behind With Rally to One-Month High

Bitcoin offshoot Litecoin ( LTC ) is having a moment amid a broader market lull, rallying 15% over the past seven days to a one-month high of $95 Wednesday, according to CoinDesk data. It's pulled back a bit to $92 as of press time. The price ra...
Markets
May. 18, 2023

First Mover Americas: Bitcoin Rebounds Amid Optimism on Debt-Ceiling

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 is up ...
Markets
May. 18, 2023

Absence of Retail Investors Could Stand in the Way of Pepecoin's Rise to Top Meme Coin: Santiment

Retail traders were mostly absent from Pepecoin’s (PEPE) stellar rise to $1.5 billion market cap in a few weeks, even as the token snagged billions of dollars in daily volumes and a host of copycats. This comes from a new report by on-chain ...
Markets
May. 18, 2023

Crypto Observers Decode Large Block Trade in Ether Options

On Tuesday, a large ether (ETH) trade involving call options expiring in June and September crossed the tape on Deribit, sparking discussions in the trading community about the nature of the flow. Per data tracked by Amberdata, On Tuesday, a s...
Markets
May. 18, 2023

Pepe-Themed ‘Bitcoin Frogs’ Becomes Most Traded NFT Amid Bitcoin Ordinals Hype

Bitcoin Frogs, the newly-launched non-fungible token (NFT) fashioned after frogs, has become the most-traded collection in the past 24 hours, surpassing even prominent collections, such as Bored Apes. Bitcoin Frogs, which launched in late Febr...
Markets
May. 18, 2023

First Mover Asia: Biden’s Tough Talk, Tether’s Bitcoin Bet Not Moving Crypto

Good morning. Here’s what’s happening: Prices: Unfazed by U.S. debt ceiling talks, bitcoin and ether hold steady while Tether and Circle are diversifying reserves to mitigate dollar risks. Insights: A federal judge denied the SEC's bid to...
Markets
May. 17, 2023

The Risks and Rewards of High-Frequency Crypto Trading

I had a nice conversation this week about high-frequency trading (HFT) in crypto markets. Born out of an idea I had to explore the space generally, a bout of fortuitous timing let me speak with someone who has engaged in it first hand. I’ve alwa...
Markets
May. 17, 2023

Ethereum Staking Needs Its (Honest) LIBOR

In any industry, standardization drives scale. Ethereum’s transition last year to proof of stake (PoS) unlocked an exciting opportunity to create a benchmark that tracks staking yields, which could serve as the basis for financial products that...
Markets
May. 17, 2023

First Mover Americas: Axie Infinity Rallies After Apple App Store Debut

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 Blockchain-bas...
Markets
May. 17, 2023

Axie Infinity's Token Jumps 12% After Firm Lists Game on Apple App Store

Blockchain-based play-to-earn project Axie Infinity's native cryptocurrency AXS rallied after CoinDesk reported on Axie's card-based strategy game debuting on the Apple app store. AXS surged over 12% from $7.16 to $8.04 after the news, becomin...
Markets
May. 17, 2023

First Mover Asia: Crypto's Rotating Profits

Good morning. Here’s what’s happening: Prices: Amid Bitcoin role debates and halving concerns, bitcoin and ether start flat in East Asia; Cobo's data points to market confidence recovery and Bybit links memecoin surge to reinvestment, warnin...
Markets
May. 16, 2023

Bitcoin Slides Below $27K as Investors Eye Debt Ceiling Negotiations

Bitcoin ( BTC ) continued its slightly downward consolidation on Tuesday, slipping just below $27,000 as investors kept close attention on the debt ceiling negotiations in Washington. The largest cryptocurrency by market capitalization was recen...
Markets
May. 16, 2023

Bitcoin's Realized Price on Cusp of Flashing Major Bullish Signal

Bitcoin's ( BTC ) year-to-date rally of 63% may be the first milestone in its upward journey. That's the message from bitcoin's realized price, which appears on track to exceed the realized price of long-term holders. Historically, this so-calle...
Markets
May. 16, 2023

Bitcoin-Ether Correlation Weakest Since 2021, Hints at Regime Change in Crypto Market

Bitcoin (BTC) and ether (ETH), the world's top two cryptocurrencies by market value, moved in tandem for much of 2022. That positive relationship has weakened this year, signaling an impending regime change in the market. As of Monday, the 30-da...
Markets
May. 16, 2023

First Mover Asia: Bitcoin, Ether Prices Stuck in 'Wind Tunnel'

Good morning. Here’s what’s happening: Prices: Bitcoin was stable around $27,300. Insights: Funding rates on bitcoin and ether perpetual futures, often an indication of sentiment, remain positive. Prices #amp-table { con...
Markets
May. 15, 2023

Weekly DEX Volume on BNB Chain Hits Highest in a Year

Weekly decentralized exchange (DEX) trading volume on Binance’s BNB Chain has reached its highest level in a year, according to data from DefiLlama . The week commencing May 7 saw DEX volume on BNB reach $5.11 billion, a level not seen since ea...
Markets
May. 15, 2023

Bitcoin Rebounds Above $27K as Investors Weigh Debt Ceiling Debate, Liquidity Concerns

Bitcoin ( BTC ) kicked off the U.S. trading week with gains, moving above $27,000 from as low as $25,800 late on Friday. The largest cryptocurrency by market capitalization was recently trading at around $27,350, up roughly 1.6% in the past 24 h...
Markets
May. 15, 2023

GREED Token Is Not a Crypto Scam, but a Lesson on How to Get Scammed Amid Meme Coin Mania

In S**tcoin Spring, any pointless cryptocurrency with a Twitter account can enchant thousands of traders into playing meme coin musical chairs. Throwing money at the wall and reason out the window, they let greed get the best of them. Sometimes l...
Markets
May. 15, 2023

Crypto Investment Funds See Outflows for Fourth Consecutive Week

Digital asset investment funds experienced a fourth consecutive week of net outflows, with $54 million exiting in the seven days ended May 14, according to a CoinShares report on Monday. The outflows coincided with sizable declines in crypto p...
Markets
May. 15, 2023

First Mover Americas: Bitcoin Bounces Back From Friday Lows

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 ( BT...
Markets
May. 15, 2023

Bitcoin Holds Above 200-Week Average as Dollar Index Rallies Most Since February

The heavily shorted U.S. dollar surged against the basket of fiat currencies last week, putting pressure on risk assets, including bitcoin (BTC). The leading cryptocurrency, however, held on to key support in a positive sign for the market. Th...
Markets
May. 15, 2023

Ribbon Finance's Decentralized Exchange Aevo Unveils Altcoin Options Trading

The Ethereum-based structured product firm Ribbon Finance's decentralized exchange Aevo began offering options tied to alternative cryptocurrencies (altcoins), a crypto term used to describe digital assets other than bitcoin (BTC) and sometime ev...
Markets
May. 15, 2023

First Mover Asia: Bitcoin Regains $27K Amid Encouraging Macro, Technical Signs

Good morning. Here’s what’s happening: Prices: Bitcoin was trading over $27K to recover some lost ground from its plunge last week. Insights: The stablecoin supply ratio drop of the past 11 days suggests a potential increase in buying po...
Markets
May. 12, 2023

Bitcoin Loses 10% on the Week as Memecoins Tumble

Bitcoin ( BTC ) has plunged more than 10% over the past 7 days to a two-month low just above $26,000 alongside a sizable reversal in the previous red-hot memecoin sector. The world’s largest cryptocurrency traded at around $26,300 at press time,...
Markets
May. 12, 2023

First Mover Americas: Bitcoin Falls to 2-Month Low

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 Cardano’s scal...
Markets
May. 12, 2023

Bitcoin Prices Slip to 2-Month Lows As CoinDesk’s Bitcoin Trend Indicator Turns Neutral From Bullish

Bitcoin (BTC) continues to lose ground in the wake of CoinDesk's Bitcoin Trend Indicator shedding the bullish bias for the first time in three weeks. The top cryptocurrency by market value fell to $26,160 before press time, reaching the lowest...
Markets
May. 12, 2023

Dogecoin-Like Spike in Milady NFTs After Elon Musk’s Tweet, But Will it Last?

The Milady non-fungible token (NFT) collection spiked after receiving acknowledgement from Twitter owner Elon Musk, drawing parallels to Musk's treatment of dogecoin (DOGE). Miladys are a profile-pic (PFP) NFT, which consists of 9,823 images fea...
Markets
May. 12, 2023

First Mover Asia: Bitcoin Regains $27K, but Investors Search for a Catalyst

Good morning. Here’s what’s happening: Prices: Bitcoin sank below $27K for the second consecutive day. Investors are in a wait-and-see mode. Insights: Bitcoin is taking a breather even amid mildly upbeat jobs and price data this month. ...
Markets
May. 11, 2023

Bitcoin Edges Below $27K as Latest Bank Crisis Fails to Trigger Price Increase

Bitcoin ( BTC ) edged below $27,000 as the latest banking debacle failed to trigger the sort of price surge that has occurred in recent weeks amid multiple U.S. bank failures. The largest cryptocurrency by market capitalization was recently tra...
Markets
May. 11, 2023

Decentralized Exchange Uniswap Trading Volume Outpaces Coinbase for 4th Consecutive Month

Decentralized exchange (DEX), Uniswap , topped centralized exchange Coinbase (COIN) in trading volume in April, the fourth consecutive month that it has surpassed Coinbase, according to data provided by CCData. Uniswap’s trading volume climbe...
Markets
May. 11, 2023

‘Smart Money’ Traders Reduce Pepecoin Holdings by $3M as Meme Coin Mania Cools

Top performing traders have increasingly been reducing their pepecoin ( PEPE ) holdings, a sign that the bewildering meme coin mania of the past weeks may be losing steam. Data by crypto intelligence firm Nansen shows that “smart money” wallet...
Markets
May. 11, 2023

Long-Term Bitcoin Holders Boost Their Stash as BTC Prices Decouple From Nasdaq

Long-term bitcoin (BTC) investors are accumulating tokens as the largest cryptocurrency's price declines, decoupling it from the continued uptick in Wall Street's tech-heavy index Nasdaq. Blockchain analytics firm Glassnode's long-term holder ne...
Markets
May. 11, 2023

First Mover Asia: Expect Bitcoin to Hit $25.2K Soon: Strategist

Good morning. Here’s what’s happening: Prices: Fairlead Strategies' Katie Stockton anticipates a pullback to around $25,200 for bitcoin and a short-term setback for Ether, but sees potential for Ether to outperform Bitcoin in the short term....
Markets
May. 10, 2023

Ether Selling Pressure Post-Shanghai Upgrade Was 'Non-Event,' Says Nansen

In hindsight, the selling pressure of ether (ETH), Ethereum’s native token, turned out to be a “non-event” following the Shanghai upgrade , which enabled staking redemptions for the first time, according to a report from blockchain analytics fir...
Markets
May. 10, 2023

Crypto Derivatives Market Share Hits All-Time High

Cryptocurrency derivatives trading volume on centralized exchanges fell in April, but spot trading volume declined even more, pushing the derivatives market share up to a new all-time high. According to CCData, the market share of crypto derivat...
Markets
May. 10, 2023

Bitcoin Dips Below $27K, Reversing Post-CPI Rally

Bitcoin ( BTC ) dipped below $27,000 Wednesday midday, reversing a morning jump following the release of mildly encouraging U.S. inflation data. The BTC/USD trading pair on Coinbase traded as low as $26,800 before regaining some ground, accordin...
Markets
May. 10, 2023

Crypto Exchange Binance Trading Volume Fell Almost 50% in April

Spot trading volume at Binance , the world’s largest cryptocurrency exchange, dropped for a second straight month in April, falling 48% amid declining transaction levels across the industry, according to CCData. Volume dropped to $287 billion...
Markets
May. 10, 2023

Bitcoin Tends to Become More Volatile Around Monthly U.S. Inflation Releases: Kaiko

On Wednesday, at 8:30 AM ET (12:30 UTC), the U.S. Bureau of Labor Statistics will release the consumer price index (CPI) for April. The headline CPI inflation figure is forecast to stay unchanged at 5% and the core figure, which excludes the vol...
Markets
May. 10, 2023

Are Cryptocurrencies an Inflation Hedge? Theoretically Yes, Factually No Says S&P

Ratings agency S&P Global on Tuesday took note of cryptocurrencies' appeal as assets that protect investors from the effects of inflation, while also stressing the lack of data to support the popular narrative. "Crypto assets could theoretic...
Markets
May. 10, 2023

Crypto Whales Accumulate Millions in Pepecoin as Trading Volume Shifts to Binance

Pepecoin (PEPE) traders remain unfazed by the recent price correction and are adding to their holdings in a move that suggests bullish price action for the tokens in the coming weeks. On-chain analytics tool Lookonchain said on Tuesday that thre...
Markets
May. 10, 2023

First Mover Asia: Bitcoin Ticks Up as Congestion Wanes and Investors Ponder the Next Price Spur

Good morning. Here’s what’s happening: Prices: As blockchain congestion eases, Bitcoin's price recovers. eToro's Callie Cox said that inflation remains a key concern among crypto traders but noted bitcoin's resilience in an interview with Co...
Markets
May. 09, 2023

Bitcoin Moves Sideways at $27.5K as Investors Await CPI Inflation Reading

Bitcoin ( BTC ) moved sideways at around mid-$27,000 on Tuesday as investors awaited the latest U.S. inflation report on Wednesday. The largest cryptocurrency by market capitalization was recently trading at around $27,560, down 0.2% in the past...
Markets
May. 09, 2023

Litecoin Transactions Hit Record High as Bitcoin Fees Surge Amid BRC-20 Frenzy

Transactions on the Litecoin blockchain have surged to all-time highs as the meme coin frenzy and subsequently high fees on the Bitcoin network send crypto users scrambling for alternatives. On May 8, Litecoin executed more than 525,000 transact...
Markets
May. 09, 2023

Bitcoin Cash Rises 11% but Gains Could Be Short-Lived

Bitcoin cash ( BCH ) has gained 11% over the last 24-hours even as bitcoin has declined. Bitcoin’s price drop follows network congestion that sent transaction fees over the weekend skyward as demand for bitcoin Ordinals ramped up. BCH , whic...
Markets
May. 09, 2023

Bitcoin Trades at Nearly $650 Premium on Binance.US

The gap between bitcoin's price in U.S. dollars (BTC/USD) on prominent digital assets exchanges like Binance and Coinbase and the price on Binance's U.S. arm has widened sharply this month, causing unease among crypto commentators on Twitter. ...
Markets
May. 09, 2023

Crypto Trader Pays $120K in Fees to Buy $156K of Meme Coin Four

Crypto traders are paying through the roof to get in early on newly-issued meme coins and rack up a large percentage of the supply. On-chain data shows a trader paid over 64 ether (ETH) in fees on Monday to get 84 ether worth of four (FOUR), a n...
Markets
May. 09, 2023

First Mover Asia: Binance Congestion Chaos Weighs Heavy on Bitcoin

Good morning. Here’s what’s happening: Prices: Bitcoin and Ether prices are down due to BRC-20 meme coins congestion, with a potential solution being a shift of profits to altcoins and Ethereum. Insights: Bitcoin's path "is not straight,"...
Markets
May. 08, 2023

Bitcoin Falls Below $27.5K as Investors Weigh Meme Mania, Binance Congestion Issues

Bitcoin ( BTC ) kicked off the U.S. trading week, falling below $27,500 in the afternoon (ET). The largest cryptocurrency by market capitalization was recently trading at around $27,350, down over 5.5% in the past 24 hours, according to CoinDesk...
Markets
May. 08, 2023

First Mover Americas: PEPE Peaks After Binance Listing

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 Pepecoin’s ( ...
Markets
May. 08, 2023

Meme Coin Trading Volume Surges to Two-Year High, Signals Caution for Bitcoin Bulls

Trading volume in meme coins, or cryptocurrencies originating from internet memes and having no inherent utility, surged last week in a move reminiscent of frenzied activity observed ahead of previous bitcoin (BTC) market tops. The crypto market...
Markets
May. 08, 2023

Crypto Options Exchange Deribit's Ether Volatility Index Hits Record Low

The downtrend in leading crypto options exchange Deribit's forward-looking ether volatility index (ETH DVOL) continues amid macroeconomic uncertainties and the pepecoin (PEPE) frenzy that has boosted demand for the Ethereum network. The DVOL ...
Markets
May. 08, 2023

Pepecoin Drops Nearly 50% From Highs as Traders Likely Taking Profits for Ether

Pepecoin (PEPE) holders may be taking profits on their positions following one of the most spectacular rises in the history of alternative currencies (altcoins) with an almost 5,000,000% rise in the past few weeks. The tokens are down nearly 45%...
Markets
May. 08, 2023

First Mover Asia: Bitcoin at $28.6K Remains Unstirred by Binance Temporary Withdrawal Pause

Good morning. Here’s what’s happening: Prices: Bitcoin and ether fell slightly on Sunday, although there's potential for a market-wide rally and significant price movement, an analyst says. Meme coin mania has been fueling dramatic shifts in...
Markets
May. 07, 2023

Bitcoin Network Congestion Causes Binance to Pause Withdrawals

Binance temporarily paused bitcoin withdrawals Sunday morning U.S. time as the bitcoin blockchain became overwhelmed with pending transactions and sky-high fees. The crypto exchange resumed withdrawals within two hours of its initial Twitter ...
Markets
May. 05, 2023

Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit

The bewilderingly fast rise of pepecoin ( PEPE ), a meme coin introduced mere weeks ago that’s now worth more than $1 billion, is making gigantic fortunes for those undeterred by warnings this is a fad that will end badly. A perfect example: a...
Markets
May. 05, 2023

First Mover Americas: Memecoin PEPE Hits $1B Market Cap

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 Pepe coin ( ...
Markets
May. 05, 2023

U.S. Adds 253K Jobs in April, Topping Expectations for 180K

The U.S. added 253,000 jobs in April, up from a downwardly revised 165,000 in March and ahead of economist forecasts for 180,000, according to a report from the Bureau of Labor Statistics (BLS). The unemployment rate was 3.4%, down from 3.5% in ...
Markets
May. 05, 2023

U.S. Regulatory Crackdown Sees Institutional Investors Prefer Gold to Bitcoin: JPMorgan

The U.S. regulatory crackdown is pushing American crypto firms to look for opportunities overseas, JPMorgan (JPM) said in a research report Thursday. “The U.S.-based arm of Binance has called off its deal with Voyager, while Coinbase launched ...
Markets
May. 05, 2023

Bitcoin Chalks Out 'Head and Shoulders' Pattern Ahead of U.S. Nonfarm Payrolls: Valkyrie Investments

Analysts at alternative asset management firm Valkyrie Investments are closely monitoring what looks like a "head and shoulders (H&S)" bearish reversal pattern on bitcoin's (BTC) daily chart. The popular technical analysis pattern is charact...
Markets
May. 05, 2023

Ethereum's Median Gas Fee Surges to 12-Month High as PEPE Frenzy Grips Market

Ethereum is becoming costlier to use as the latest meme coin mania has investors churning millions for a frog-themed token called pepecoin (PEPE). The daily median gas price, or transaction cost, hit a 12-month high of 87 gwei (one gwei is a b...
Markets
May. 05, 2023

Pepe Coin Shorters Lose Millions as PEPE Jumps to $900M Valuation

Pepe coin (PEPE) is the token that keeps on giving, at least so far. The tokens have run from strength to strength in the past week even as skeptics warned of an impending collapse, gaining some 500% in the past two weeks as per CoinGecko data. ...
Markets
May. 05, 2023

First Mover Asia: CBDCs Are the Hottest Issue in Florida Politics; Bitcoin Falls Slightly

Good morning. Here’s what’s happening: Prices: Meme coins soar as crypto giants stumble amid mixed market signals in Asia Insights: North Carolina and Florida have both voted to ban CBDCs. Welcome to the wedge issue of the 2024 election. ...
Markets
May. 04, 2023

Bitcoin Holds Near $29K as Investors Weigh Rate Increases, Banking Contagion

Bitcoin ( BTC ) spent much of Thursday quietly hovering a little below $29,000, roughly where it’s stood for much of the past 10 days, as investors weighed U.S. and European central bank interest rate increases and the latest debacles in a mush...
Markets
May. 04, 2023

Liquid Staking Platform Lido Surpasses 6M Ether Deposits as Shanghai Upgrade Spurs Inflows

Decentralized finance ( DeFi ) protocol Lido Finance has surpassed six million ether ( ETH ) deposited on its liquid staking platform amid steady inflows following the Ethereum blockchain’s Shanghai upgrade . Lido has enjoyed a net inflow of ...
Markets
May. 04, 2023

First Mover Americas: Bitcoin Pushes Above $29K After Fed Rate Hike

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 has pu...
Markets
May. 04, 2023

Funding Rates in the $500M Market Cap PEPE Token Remain Negative

PEPE, the self-proclaimed "most memeable memecoin," has skyrocketed to more than $500 million in market capitalization in just over two weeks since launch. Still, funding rates in perpetual futures tied to the token remain negative, indicating t...
Markets
May. 04, 2023

Bitcoin's Dominance Rate Surges After U.S. Banking Crisis

Bitcoin's (BTC) dominance rate, measuring the cryptocurrency's share in the broader market, has risen sharply since the onset of the ongoing U.S. banking sector instability almost two months ago. Since early March, the dominance rate has increas...
Markets
May. 04, 2023

Bitcoin Could Rally 20% to Around $36K: Matrixport

Bitcoin (BTC) could rally 20% to around $35,000 - $36,000, crypto-services provider Matrixport said in a research report on Thursday. Bitcoin has been trading in a narrowing wedge that is about to be broken to the upside, the report said, adding...
Markets
May. 04, 2023

‘WallStreetBets’ Themed Tokens Plummets 90% as Insider Dumps Treasury Holdings

WallStreetBets (WSB) token, which is linked to the popular WallStreetBets subreddit, has dropped 90% in the past 24 hours after an insider closely connected to the project dumped a large amount of WSB. WSB's market capitalization had jumped to o...
Markets
May. 03, 2023

First Mover Asia: Bitcoin Recovers From Fed Dip

Good morning. Here’s what’s happening: Prices: Bank failures are playing a larger role in dictating the price of bitcoin rather than interest rates. Insights: Mad Lads was a bright spot for Solana NFTs, but transaction volume is now laggi...
Markets
May. 03, 2023

Bitcoin Rises as Latest Teetering U.S. Bank Sends Traders to Crypto Haven

The banking crisis doesn't appear to be over yet. Shares of PacWest Bancorp (PACW) fell by more than 50% in after-hours action on Wednesday following a Bloomberg report the U.S.-based lender is mulling a range of strategic options. Bitcoin (BT...
Markets
May. 03, 2023

Bitcoin Falls Slightly After Fed Rate Hike

Bitcoin’s ( BTC ) price dropped slightly to below $28,500 after the U.S. central bank did what was widely expected and raised interest rates by 25 basis points (bps) . The increase sends the Federal funds rate to a target range of between 5% and...
Markets
May. 03, 2023

Sui Token Surges to $2 on Trading Debut as Network's Fully Diluted Value Hits $13B

Sui Network tokens jumped to $2 apiece minutes after trading began at 12 noon UTC on Wednesday, data shows. The market capitalization of the tokens reached nearly $690 million at writing time, with their fully diluted valuation (FDV) at a stagger...
Markets
May. 03, 2023

First Mover Americas: Bitcoin Layer 2 Stacks Begins May on Top

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 (BTC) ...
Markets
May. 03, 2023

TrueUSD's Borrowing Rates Jumped to 100% as TUSD Soared to $1.20: Kaiko

Traders quickly jumped in to take advantage of TrueUSD’s (TUSD) depegging event earlier to capture a potential 20% gain – paying an outrageously large amount in fees to be able to do so. Crypto analytics firm Kaiko said in a Wednesday newsletter...
Markets
May. 03, 2023

Bitcoin, Ether Could Face Risks From Potential Short Squeeze in Dollar Index, QCP Capital Says

The top two cryptocurrencies by market value, bitcoin (BTC) and ether (ETH) have rallied 70% and 56% this year, outshining traditional risk assets by a significant margin. However, the good times may stop rolling if the heavily shorted U.S. doll...
Markets
May. 03, 2023

Fed Preview: Crypto Observers Believe Bitcoin Rally May Stall if Powell Does not Signal End of Tightening

Bitcoin (BTC), the world's biggest cryptocurrency by market value and a macro asset that closely tracks the U.S. dollar liquidity metrics, has seen a resurgence this year, with prices rising 70% since Jan. 1. The rally may run into a temporary...
Markets
May. 03, 2023

Pepecoin Overtakes Dogecoin, Shiba Inu Trading Volumes as Early Buyers Take Profits

Frenzied trading activity has pushed the newly-launched pepe token (PEPE) to garner trading volumes higher than those of dogecoin (DOGE) and shiba inu (SHIB) – which are otherwise the biggest memecoins by trading volumes. Pepe trading volumes su...
Markets
May. 03, 2023

First Mover Asia: Bitcoin’s Kimchi Premium Has Narrowed, but the Korean Market Is Proving Resilient

Good morning. Here’s what’s happening: Prices: Bitcoin continues its slow upwards push, while Korea's market remains strong with diversified interest says Matrixport's Markus Thielen. Insights: The U.S. central bank is likely to raise the...
Markets
May. 03, 2023

Binance, Coinbase Endure $700M in Staked Ether Outflows as Decentralized Liquid Staking Protocols Gain

Centralized crypto exchange giants Binance and Coinbase have suffered large outflows of staked ether ( ETH ) since Ethereum’s Shanghai upgrade as investors flock to decentralized rivals, blockchain data shows. Coinbase’s staking platform has...
Markets
May. 02, 2023

Bitcoin Climbs Above $28.5K as Investors Weigh Fresh Bank Woes, Cool Jobs Data

Bitcoin ( BTC ) rose during U.S. trading hours on Tuesday as investors contemplated the latest banking unrest and seemed to regain interest in crypto and other assets that hold value. The largest cryptocurrency by market capitalization was recen...
Markets
May. 02, 2023

First Mover Americas: BRC-20 Tokens Skyrocket

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 Interest in "B...
Markets
May. 02, 2023

Number of Stablecoins Held on Exchanges Slips to 2-Year Low

The number of stablecoins, or dollar-pegged cryptocurrencies, held in addresses tied to centralized exchanges extended its decline to reach the lowest since May 2021 in a sign of increasing investor aversion to risk. As of Monday, the balance wa...
Markets
May. 02, 2023

'Bitcoin Request for Comment' Tokens Surge to $137M in Market Value

Interest in "Bitcoin Request for Comment" or BRC-20 tokens built with Ordinals and stored on the Bitcoin base chain has skyrocketed, lifting their market value by several hundred percent. As of writing, the combined market cap of more than 8,800...
Markets
May. 01, 2023

First Mover Asia: Bitcoin Market Cap Is Surging, but a Retreat From $30K Continues

Good morning. Here’s what’s happening: Prices: As Asia's trading day begins, bitcoin drops 4% to $27,981, and ether declines 2.45% to $1,824 Insights: The West will still lead Crypto's future, but the East is going to play a major role, a...
Markets
May. 01, 2023

Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank

Bitcoin ( BTC ) kicked off the U.S. trading week edging below $28,000 – the continuation of a downward spiral that started on Sunday as federal regulators prepared to seize control of First Republic Bank. The largest cryptocurrency by market c...
Markets
May. 01, 2023

Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab

Tron founder Justin Sun has arranged a full refund of a $56 million transfer to exchange platform Binance after a warning from the latter's CEO Changpeng Zhao. After the transfer in TrueUSD (TUSD) got flagged by Whale Alert early Monday, Zhao...
Markets
Apr. 30, 2023

First Mover Asia: Bitcoin, Ether Open Asia’s Trading Week Flat

Good morning. Here’s what’s happening: Prices: The Consensus 2023 festival brought builders and investors to Austin, and wrapped up Friday night with attendance records that broke expectations. But Bitcoin is opening the trading week in Asia...
Markets
Apr. 28, 2023

Balaji Srinivasan Explains $1M Bitcoin Bet Rationale, Says Could Take 90 Months Not 90 Days

Entrepreneur Balaji Srinivasan explained the rationale for his bet that bitcoin (BTC) could reach $1 million in price by June 17 of this year, during CoinDesk’s Consensus 2023 conference. Srinivasan, the former chief technology officer of cryp...
Markets
Apr. 28, 2023

Ripple Sold $336M Worth of XRP Tokens in Q1; Reports Strong XRPL Growth

Blockchain company Ripple sold more than $361 million worth of xrp (XRP) tokens in the first three months of the year, up from from $226.31 million in the previous quarter, it said in the latest XRP Markets Report . The company builds global pa...
Markets
Apr. 28, 2023

First Mover Americas: Bitcoin Ending Week on Positive Note

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 Despite some v...
Markets
Apr. 28, 2023

Bitcoin Held on Binance Surges to Record High of 692K BTC: Glassnode

The total amount of bitcoin (BTC) held in Binance's wallets has increased sharply in the past four weeks, reversing the outflow seen following the collapse of FTX in November. Data tracked by blockchain analytics firm Glassnode shows the balance...
Markets
Apr. 28, 2023

Bitcoin Is Poised to Reclaim Crypto’s Spotlight: Berenberg

In the next few months bitcoin ( BTC ) may be able to reclaim much of the attention it has relinquished to other crypto tokens and projects during recent years and the enthusiasm it lost during the crypto winter, Berenberg said in a research repo...
Markets
Apr. 28, 2023

MicroStrategy Is Uniquely Positioned to Benefit From Rising Bitcoin Price: Berenberg

MicroStrategy (MSTR) is uniquely positioned among listed companies to benefit from an increase in the price of bitcoin (BTC), Berenberg said in a report Thursday. Berenberg initiated coverage of the stock with a buy rating and a $430 price targe...
Markets
Apr. 28, 2023

Long-Term Bitcoin Holders Are Profitable for First Time in 11 Months, Blockchain Data Shows

Blockchain data shows long-term holders of bitcoin (BTC) are profitable for the first in almost a year. Historically, renewed profitability for long-term holders has presaged major market rallies. The seven-day average of bitcoin's long-term hol...
Markets
Apr. 28, 2023

First Mover Asia: Bitcoin Holds Steady Above $29K as Investors Look Toward Next FOMC Meeting

Good morning. Here’s what’s happening: Prices: Bitcoin steadies itself comfortably above $29K. One analyst says that investors are now looking for assets that retain their value. Insights: Captain Kirk drops his first NFT collection and s...
Markets
Apr. 27, 2023

Bitcoin Circles Above $29.5K as Investors Weigh Sluggish GDP, Latest Banking Woes

A day after crypto markets went on a roller-coaster ride , bitcoin ( BTC ) held steady over $29,500 as investors weighed sluggish U.S. economic growth data and the latest banking sector woes. The largest cryptocurrency by market capitalization ...
Markets
Apr. 27, 2023

CoinDesk Indices, Crypto Asset Manager CoinFund Launch an Ethereum Staking Benchmark Rate

CoinDesk Indices and crypto investment firm CoinFund have jointly launched a benchmark that tracks Ethereum staking rates and brings accoutrements that institutional investors expect into digital assets. The Composite Ether Staking Rate (CESR) w...
Markets
Apr. 27, 2023

Bye-Bye Bitcoin Bear

The bitcoin (BTC) bear market of 2022-2023 was a doozy. Having also held bitcoin through the bitcoin bear market of 2018-2019, I can attest that this one was just as painful despite being slightly shorter and having a less dramatic maximum drawdo...
Markets
Apr. 27, 2023

First Mover Americas: Lots of Bitcoin Futures Traders Cash Out

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 Sudden vola...
Markets
Apr. 27, 2023

Bitcoin's Negative Correlation With Dollar Index Strengthens Ahead of U.S. GDP Data

Bitcoin (BTC) has historically moved in the opposite direction to the dollar index (DXY), which gauges the greenback's exchange rate against major fiat currencies, including the euro. The negative correlation has strengthened, reversing the brie...
Markets
Apr. 27, 2023

Bitcoin Market Impact From Mt. Gox Repayments Will Be Limited: Matrixport

Bitcoin (BTC) slid 8% during the U.S. afternoon Wednesday on rumors that wallets tied to defunct crypto exchange Mt. Gox and the U.S. government are making transactions, crypto-services provider Matrixport said in a report Thursday. Matrixport...
Markets
Apr. 27, 2023

Bitcoin's 'Estimated Leverage Ratio' Hits Lowest Since December 2021

A key metric gauging the use of leverage in the bitcoin (BTC) market continues to slide, signaling low price volatility in the future. Bitcoin's estimated leverage ratio, calculated by dividing the dollar value locked in the active open perpetua...
Markets
Apr. 27, 2023

Bitcoin Volatility Hits Longs and Shorts as $175M Liquidated, $1B in Open Interest Wiped

Sudden volatility in bitcoin (BTC) caused traders of both longs and short futures to be impacted as $175 million worth of positions was liquidated and $1 billion in open interest was effectively wiped out in the past 24 hours. Longs are bets on ...
Markets
Apr. 27, 2023

First Mover Asia: Bitcoin Seesaws Wildly Before Settling Above $29K

Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos seesawed wildly over a 24-hour period. Insights: Crypto and its regulators are struggling to find linguistic consensus, CoinDesk columnist Daniel Kuhn observes. Pr...
Markets
Apr. 26, 2023

Tradfi Sees Opportunity in Crypto Despite ‘Red Wedding,’ Burning Buildings

AUSTIN, Texas — Asset managers are salivating over opportunities in growth equity and depressed tokens that took an undeservingly excessive hit during crypto's bear market, market participants said during Wednesday's Consensus 2023 event. Dawn...
Markets
Apr. 26, 2023

Bitcoin Tumbles as Wild Crypto Market Swing Causes $310M Losses From Liquidations

Crypto markets tumbled suddenly Wednesday afternoon, erasing gains from the previous 24 hours in less than an hour. The CoinDesk Market Index ( CMI ), which tracks the performance of the broader crypto market, plummeted 5.6% in an hour, and has ...
Markets
Apr. 26, 2023

As Crypto Grows, so Does CoinDesk’s Commitment to Keeping Pace

Proximity to information and access to new tools is one of the things that I value most about being at CoinDesk. Each day there’s cutting-edge access to news and early looks at tools that we as a firm are looking to bring to the marketplace. The...
Markets
Apr. 26, 2023

Arbitrum Airdrops $120M to Projects; Some Dump, Some Look to Bolster Themselves

Ethereum scaling blockchain Arbitrum on Tuesday completed the distribution of more than $120 million worth of its arb (ARB) tokens to projects that were built on the network, blockchain data shows. In March, Arbitrum issued and airdropped its ...
Markets
Apr. 26, 2023

First Mover Americas: Bitcoin Regains $29K

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 gained...
Markets
Apr. 26, 2023

Bitcoin Rallies to $29K; Cardano Leads Gains Among Crypto Majors

Bitcoin (BTC) rose to $29,000 in European morning hours on Wednesday, with some investors pointing to expectations the Federal Reserve will inject money into the economy in the coming weeks after signs of yet another U.S. bank collapse. It was la...
Markets
Apr. 26, 2023

Optimism From Ethereum's Shapella Upgrade Is Fading, Crypto Options Show

Two weeks after Etheruem's Shapella upgrade , the crypto options market is signaling a higher perceived risk of downside volatility in the smart contract blockchain's native token, ether (ETH), than market leader bitcoin (BTC). On Tuesday, opti...
Markets
Apr. 26, 2023

First Mover Asia: Bitcoin Breaks Its Losing Streak in Late Tuesday Rally

Good morning. Here’s what’s happening: Prices: A late surge returned bitcoin to its previous perch above $28K. Ether also rallied. Insights: Is crypto on the mend? What will happen on the regulatory front? CoinDesk's annual Consensus con...
Markets
Apr. 25, 2023

Bitcoin Regains $28K Amid Mildly Encouraging Tech Earnings, Liquidation of Short Positions

Bitcoin ( BTC ) climbed over $28,000 as investors seemed to respond to mildly encouraging first-quarter earnings from tech giants Google's parent Alphabet and Microsoft and the liquidation of a number of bitcoin short positions. The largest ...
Markets
Apr. 25, 2023

First Mover Americas: Coinbase Seeks Clear Answers From SEC

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 Crypto exchang...
Markets
Apr. 25, 2023

Bitcoin-Tether Pair Is Most Liquid on Binance Even as TUSD Pair Sees Higher Volumes

Trading volumes on Binance of bitcoin (BTC) denominated in ArchBlock 's dollar-pegged stablecoin TrueUSD (TUSD) have surged over the past four weeks after the crypto exchange introduced zero trading fees in the pair on March 23 while simultaneou...
Markets
Apr. 25, 2023

Pepe Coin’s Top Bull Also Has Millions in Shiba Inu, but Holdings Suggest Risk for Traders

The largest pepe coin (PEPE) holder is sitting on more than $1 million worth of the token even as concentration risks loom over the short-term future of the trending memecoin . Analysts have raised concerns about the behavior of investors who...
Markets
Apr. 25, 2023

Bitcoin's 50-Day Moving Average in Focus for Crypto Analysts After 11% Price Pullback

Bitcoin (BTC) has come under pressure of late amid weakness in technology stocks and an uptick in bond yields. The pullback has some analysts focusing on a key average of bitcoin's price for cues about the next possible move in the cryptocurrency...
Markets
Apr. 25, 2023

First Mover Asia: Crypto Flat as Markets Await Tech Earnings

Good morning. Here’s what’s happening: Prices: Crypto markets are playing the waiting game as tech's expected mixed bag of earnings may push things down as the week progresses. Insights: Do Kwon is in a Montenegro jail on charges he sold ...
Markets
Apr. 24, 2023

Ethereum Shanghai Upgrade Brings Record Inflow of 572k ETH Staked in a Week

Ethereum’s Shanghai upgrade brought a record-breaking weekly inflow of ether ( ETH ) deposits for staking last week, mainly driven by institutional staking service providers and investors reinvesting rewards after withdrawal, crypto analysts sa...
Markets
Apr. 24, 2023

Ethereum Layer 2 Networks’ Total Value Locked Hovers at Near-Record High, Data Shows

As ether’s price rose in April, so did the total value locked (TVL) of Ethereum layer 2, or companion, networks, reaching $10 billion on April 14, its highest level yet. TVL has subsequently declined amid a swoon in crypto prices but remains at a...
Markets
Apr. 24, 2023

Bitcoin Drops to $27.3K, Ether Edges Toward $1.8K Amid Investors' Interest Rate Concerns

Bitcoin ( BTC ) continued its recent consolidation below $28,000 on Monday. The largest cryptocurrency by market capitalization was recently trading at around $27,350, down 0.4% in the past 24 hours, according to CoinDesk data. BTC dropped bel...
Markets
Apr. 24, 2023

Crypto Investment Funds Have First Week of Outflows in 6 Weeks

Digital asset investment funds had net outflows for the first time in six weeks last week, totaling $30 million, according to a report by CoinShares. Outflows began on April 14, coinciding with bitcoin ( BTC ) reaching $30,000 for the first ti...
Markets
Apr. 24, 2023

Bitcoin Price May Hit $100K by Year End, Standard Chartered Bank Says

Crypto winter is finally over and bitcoin ( BTC ), the world's largest cryptocurrency, has the potential to reach $100,000 by year end, according to a research report by Standard Chartered Bank. The climb to $100,000 could be driven by a number ...
Markets
Apr. 24, 2023

First Mover Americas: Bitcoin Starts Work Week in the Red

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 fell 0...
Markets
Apr. 24, 2023

Bitcoin Posts Biggest Weekly Loss in Five Months as Dollar Liquidity Declines, Debt Ceiling Fears Return

Bitcoin (BTC) faced selling pressure in the week ended April 23 as bond yields rose and the U.S. dollar liquidity declined. The leading cryptocurrency by market value fell by 9% to $27,600, registering its largest single-week percentage loss sin...
Markets
Apr. 24, 2023

Wrapped Bitcoin Token Goes Live on Cardano Testnet

Wrapped bitcoin token cBTC has gone live on the Cardano testnet, with the project’s developers aiming to attract bitcoin (BTC) users to the nascent Cardano decentralized finance (DeFi) ecosystem. Users can now mint cBTC tokens from the anetaBTC ...
Markets
Apr. 24, 2023

Declining Bitcoin-Ether Correlation Could Impact Crypto Investors’ Hedging Strategies: Coinbase

The correlation between bitcoin ( BTC ) and ether ( ETH ) returns has been declining since mid-March, when BTC started outperforming against the backdrop of the U.S. banking turmoil and increased regulatory scrutiny of non-bitcoin digital asset...
Markets
Apr. 24, 2023

Crypto’s Path to Wall Street Could Get Easier With New Plumbing

A key piece of plumbing in conventional markets is getting enhanced in a way that could make it easier for stalwarts of traditional finance (TradFi) to trade crypto. The Financial Information eXchange Protocol (FIX) – a common language that mo...
Markets
Apr. 24, 2023

First Mover Asia: What's Next After Bitcoin's Retreat

Good morning. Here’s what’s happening: Prices: Analysts take a look at what comes next after last week's downturn in bitcoin and ether prices. Insights: Taylor Swift showed common sense in asking the sort of critical questions of FTX that...
Markets
Apr. 21, 2023

Ethereum’s Shanghai Upgrade Spurs Institutional Investment Into Staking

Early signs show that Ethereum ’s seamless Shanghai upgrade has spurred institutional investors’ interest in staking . Top institutional-grade ether ( ETH ) staking service providers have already recorded about three times larger inflows in ...
Markets
Apr. 21, 2023

First Mover Americas: Bitcoin Falls to $28K

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 do...
Markets
Apr. 21, 2023

Bitcoin's Dominance Rate Runs Into Familiar Resistance, Hints at 'Altcoin Season' Ahead

The increase in bitcoin's (BTC) dominance rate , or the largest cryptocurrency's share of the market, has halted, hinting at the potential outperformance of alternative tokens (altcoins) ahead. Data from TradingView show the dominance rate rose...
Markets
Apr. 21, 2023

AXS Nurses Losses as Axie Infinity's $156M Token Unlock Looms

Axie Infinity's AXS cryptocurrency is nursing losses ahead of Sunday's planned unlocking of millions of dollars worth of the blockchain-based, play-to-earn project's tokens. At press time, the AXS price was $8.22, down 12% for the week, CoinDe...
Markets
Apr. 21, 2023

First Mover Asia: Bitcoin Struggles as U.S. Regulators Fumble: Analyst

Good morning. Here’s what’s happening: Prices: Bitcoin continued its two-day swoon, dropping below $28K at one point. The head of research at Canadian crypto asset manager 3iQ linked its decline to U.S. regulatory woes and also noted that "m...
Markets
Apr. 20, 2023

Bitcoin Tumbles Below $28K on Coinbase Before Rallying

Bitcoin dropped below $28,000 at one point Thursday as the largest cryptocurrency by market capitalization continued its two-day slump. Bitcoin ( BTC ) was recently trading at around $28,325, down 2.7% over the past 24 hours, according to CoinDe...
Markets
Apr. 20, 2023

Crypto Stocks Post Large Losses as Bitcoin Price Slides towards $28K

The price of bitcoin ( BTC ) continued to pull back after having touched $31,000 less than one week ago, sending the shares of related stocks down sharply in Thursday trading. At press time, bitcoin was lower by 3.4% over the past 24 hours to $28...
Markets
Apr. 20, 2023

Bitcoin's Move Below 20-DMA Possible Short-Term Bearish Signal, Analysts Say

Bitcoin lost ground for a second straight day on Thursday, dropping to a 10-day low of $28,300 as traders appeared to move away from risky assets. After rallying since the start of the year, the world’s largest cryptocurrency by market value, ...
Markets
Apr. 20, 2023

First Mover Americas: Landmark Crypto Laws Pass in Europe

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 Lawmakers in t...
Markets
Apr. 20, 2023

Radix's XRD Token Beats Wider Crypto Market With 176% Surge in a Month

Decentralized finance (DeFi)-focused distributed ledger Radix's XRD token has more than doubled in the past 30 days, becoming the best-performing top 100 cryptocurrency. XRD has rallied by 176% to $0.114, with the price reaching a 12-month hig...
Markets
Apr. 20, 2023

Crypto Options Exchange Deribit Adding Zero-Fee Spot Trading

Deribit, the world's largest crypto options exchange by open interest and trading volumes, will be introducing a new spot trading feature. The exchange, which accounted for 91% of global options open interest of over $13 billion in March, said t...
Markets
Apr. 20, 2023

First Mover Asia: We’re Still Missing Good Web3 Games; Bitcoin Swoons Below $29K

Good morning. Here’s what’s happening: Prices: Bitcoin lost the mojo it regained on Tuesday, dropping below $29K; ether fell toward $1.9K. Insights: Valuations for some Web3 games are higher than the lifetime revenue of some successful, t...
Markets
Apr. 19, 2023

Bitcoin Hovers Near $29.3K After Binance Sell Order, UK Inflation Data

Bitcoin ( BTC ) was hovering near $29,300 on Wednesday, down 3% over the past 24 hours, hours after a massive sell order on Binance and U.K. hot inflation data sent the price tumbling. The largest cryptocurrency recently plummeted below $30,00...
Markets
Apr. 19, 2023

Optimism’s OP Token Jumps Ahead of a16z Project Announcement

Optimism’s OP token ( OP ) recovered from early Wednesday's broad market selloff amid news that venture capital firm Andreessen Horowitz (a16z) would plans to build a stack rollup – a type of scaling solution – on the layer-2 blockchain. The t...
Markets
Apr. 19, 2023

First Mover Americas: Bitcoin Slides Toward $29K

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 m...
Markets
Apr. 19, 2023

Institutions Flock to Ether After Shapella Upgrade

Ethereum implemented the highly-anticipated Shapella hard fork , also known as the Shanghai upgrade, on April 12, reducing the risk of staking the blockchain's native token, ether ( ETH ), by allowing withdrawals of locked coins at will. The piv...
Markets
Apr. 19, 2023

Bitcoin Drops $1,000 in 15 Minutes; Longs Make 98% of Liquidations

Bitcoin dropped below $30,000 in European morning hours on Wednesday to as low as $29,000, CoinDesk data shows. The largest cryptocurrency by market value slid $1,000 in 15 minutes. The sell-off did not appear to stem from any immediate fundam...
Markets
Apr. 19, 2023

MicroStrategy’s Bitcoin Holding Doesn’t Necessarily Pose a Concentration Risk: Bernstein

Whether MicroStrategy (MSTR) sells its bitcoin (BTC) tokens to pay down debt is closely tied to how the cryptocurrency performs. The position is not large enough to distort prices but it does present a sentiment risk in a down cycle, Bernstein sa...
Markets
Apr. 19, 2023

First Mover Asia: Bitcoin Rally Stalls Above $30K; Ether Hits $2.1K

Good morning. Here’s what’s happening: Prices: Bitcoin regained its perch above $30K, but its rally stalled; ether hovers near $2,100. Insights: Longer-term narratives, such as bitcoin's recent store-of-value story matter but price depen...
Markets
Apr. 18, 2023

First Mover Americas: Bitcoin Regains $30K as Alts Heat Up

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 has re...
Markets
Apr. 18, 2023

Gala Games to Airdrop Version 2 Tokens in May

A new version of the native tokens of metaverse-focused Gala Games will be airdropped to users on May 15, developers said in a blog post on Tuesday. The version 2 (v2) tokens will be dropped on a 1:1 basis to holders of the current gala (GALA)...
Markets
Apr. 18, 2023

Lesser-Known Bitcoin Indicator Signals Onset of Major Bull Run

A lesser-known but historically reliable bitcoin price indicator has flipped positive, signaling the onset of a major bull market. Bitcoin's reserve risk multiple has crossed above zero, turning positive for the first time since October 2021, ac...
Markets
Apr. 18, 2023

The Biggest Crypto Bull Cycle Is Upon Us: Bernstein

FTX’s collapse was the catalyst for a new bullish cycle in cryptocurrency markets, Bernstein said in a research report Monday. The crypto exchange’s demise cleaned up the final tranche of “toxic crypto leverage” and taught digital asset invest...
Markets
Apr. 18, 2023

'Pepe the Frog' Memecoins Rocket as Crypto Twitter Moves Over Doge Obsession

The most degen of Crypto Twitter traders seem to be moving over Shiba Inu-fashioned tokens to those branded after the internet meme Pepe the Frog. A pepe token (PEPE) launched Sunday ran over 21,000% in the past three days, raking in $30 milli...
Markets
Apr. 18, 2023

First Mover Asia: Bitcoin Settles In Below $29.5K as Appeal of Riskier Assets Lessens

Good morning. Here’s what’s happening: Prices: Bitcoin drops below $29.5K as investors' appetite for riskier assets lessens. Insights: What crypto projects are solving particularly important problems? Consensus Magazine presents 19 that y...
Markets
Apr. 18, 2023

Bitcoin Surge Parallels Price Movement in 2019: Analyst

Vetle Lunde, a crypto markets analyst at K33 Research, sees parallels between bitcoin’s recent surge from the doldrums of 2022 and its price pattern from 2018 into 2019. In an interview on CoinDesk TV’s “First Mover” program on Monday, Lunde sai...
Markets
Apr. 17, 2023

Exchanges Receive $375M Influx of Ether Since Shanghai Upgrade as Price Hits 11-Month High

Crypto exchanges received a net inflow of 179,500 ether ( ETH ), worth some $375 million in the four days after Ethereum’s Shanghai upgrade went live, according to crypto data firm CryptoQuant. CryptoQuant data shows that traders deposited 1,1...
Markets
Apr. 17, 2023

Bitcoin Sinks Below $30K Amid Dollar Jump, Mixed Q1 Earnings

Bitcoin ( BTC )’s rally above $30,000 has stalled – at least temporarily. The largest cryptocurrency by market capitalization was recently trading at around $29,500, off 2.6% over the past 24 hours. BTC began sinking on Sunday and dropped as low...
Markets
Apr. 17, 2023

Bitcoin, Ether See Bull Breather as Higher Bond Yields Support Dollar

Major cryptocurrencies traded with moderate losses Monday while the dollar index tracked Treasury yields higher as the market grew more comfortable with the Federal Reserve continuing its liquidity tightening cycle in May. CoinDesk's bitcoin (...
Markets
Apr. 17, 2023

First Mover Americas: Ether Holds Above $2K

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 Ether is holdi...
Markets
Apr. 17, 2023

Space ID Tokens Wow Investors Weeks After Binance Launchpad Sale

Space ID’s id (ID) token has nearly doubled in the past week on the back of strength in the largest cryptocurrencies and chants of “ altcoin season ” among some crypto traders on Twitter – becoming one of the best performers this month. The toke...
Markets
Apr. 17, 2023

Ether’s Strong Price Action May Continue Until the End of the Month: Coinbase

The price of ether (ETH) has been resilient following the Shanghai Fork (aka Shappela) last week, Coinbase (COIN) said in a research report Friday. The successful upgrade of the Ethereum blockchain supported better than expected ether price ac...
Markets
Apr. 17, 2023

Bitcoin Could Peak at $45K in May, Analyst Says

Bitcoin ( BTC ) is closely following its early 2019 surge and prices could peak at around $45,000 next month, according to Vetle Lunde, a senior analyst at K33 Research. The largest cryptocurrency by market value has rallied 80% this year, beati...
Markets
Apr. 17, 2023

First Mover Asia: Ether Price Hits Fresh 11-Month High

Good morning. Here’s what’s happening: Prices: Ether continued its ascent following last week's Shanghai upgrade on the Ethereum blockchain, reaching an 11-month high. Insights: Sufficiently decentralized ownership and control would preve...
Markets
Apr. 14, 2023

TrueUSD's Bitcoin Trading Volume Nears Tether’s on Binance but Traders Hesitate to Use the Token

The TrueUSD (TUSD) stablecoin’s market share in bitcoin ( BTC ) trading volume on Binance is catching up to Tether’s USDT following the exchange’s zero fee trading discount, but data shows traders are still reluctant to use TUSD , according ...
Markets
Apr. 14, 2023

Bitcoin Is the 'Boring, Old Grandpa' Right Now Compared to Ether: Dexterity Capital Manager Partner

Bitcoin ( BTC ), the largest cryptocurrency by market capitalization , is steadfast and mundane, said Michael Safai, managing partner at financial services firm Dexterity Capital. But that's a good thing. “Bitcoin’s going to be the boring old g...
Markets
Apr. 14, 2023

Bitcoin Holds Steady Near $30.5K, Ether Circles Around $2.1K

Bitcoin and ether’s prices rose handsomely in an eventful week of mildly encouraging inflation data and Ethereum’s long-awaited Shapella upgrade. Bitcoin ( BTC ) was recently trading at $30,450, up 0.4% from 24 hours ago and more than 9% fo...
Markets
Apr. 14, 2023

Crypto Derivative Volumes Rose in March for Third Straight Month

Crypto derivatives trading volumes across both centralized and decentralized exchanges rose for a third consecutive month in March, the first three-month streak since at least January 2022, according to figures from CCData. Crypto derivatives ar...
Markets
Apr. 14, 2023

First Mover Americas: Ether Steals the Show, Alts Follow Suit

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 Ether ( ETH ...
Markets
Apr. 14, 2023

World's Most Influential Central Banks' Balance Sheets Look to Have Troughed

The world's leading central banks appear to have stopped shrinking their balance sheets, a tactic they adopted last year to control inflation in a program that destabilized risk assets, including cryptocurrencies. The so-called quantitative tigh...
Markets
Apr. 14, 2023

Ether Options Trading Volume Surpasses Bitcoin As Shanghai Upgrade Drives Demand for Bullish Bets

The options market tied to ether (ETH) has seen more activity than bitcoin (BTC) in the past 24 hours, the first such instance of 2023. Major exchanges, including industry leader Deribit, have seen ether options contracts worth $1.23 billion exc...
Markets
Apr. 14, 2023

Ether, Dogecoin Lead Crypto Market Bounce; Lido's Staked Ether Breaks Into Top Ten

A successful Shapella rollout on Ethereum has powered ether and other alternative cryptocurrencies higher, heating up the “ alt season ” narrative on Crypto Twitter. Ether added over 10% in the past 24 hours, trading at 11-month highs above $2...
Markets
Apr. 14, 2023

First Mover Asia: Ether Climbs Over $2.1K to Further Its Post Ethereum Shanghai Upgrade Surge

Good morning. Here’s what’s happening: Prices: Ether rose sharply a day after the Ethereum Shanghai upgrade; bitcoin was also on the rise to edge toward $31K. Insights: The mass unlock of staked ETH that some crypto market observers predi...
Markets
Apr. 13, 2023

Ether’s Post-Shanghai Rally Knocks Bitcoin Dominance From 21-Month High

Ether’s ( ETH ) fresh rally above $2,000 after the successful Shanghai upgrade late Wednesday, dropped bitcoin’s ( BTC ) dominance from an almost two-year record high , according to TradingView data . BTC’s dominance rate rose to as high as ...
Markets
Apr. 13, 2023

Ether Jumps Above $2K a Day After Ethereum Shanghai Upgrade

Ether ( ETH ) continued its recent strength Thursday afternoon, climbing above $2,000 a day after Ethereum successfully completed the long-anticipated Shapella upgrade . The second-largest cryptocurrency by market value was recently trading a...
Markets
Apr. 13, 2023

Bitcoin Miner Stocks Continue Torrid Run as $30K Level Holds

A strong week for bitcoin miners got even stronger on Thursday, with the share price of several again posting double-digit percentage gains after bitcoin ( BTC ) rose more than 2% to $30,500. Among the movers was Marathon Digital (MARA), up 14.6...
Markets
Apr. 13, 2023

CoinDesk Indices Unveils Bitcoin Trend Indicator

CoinDesk Indices, a CoinDesk subsidiary, is starting the Bitcoin Trend Indicator (BTI), an online tool to help investors determine where the price of bitcoin is going. BTI generates one of five possible values, each representing a particular dir...
Markets
Apr. 13, 2023

First Mover Americas: Crypto Trading Comes to Twitter

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 Following E...
Markets
Apr. 13, 2023

Ether Nears $2K After Shanghai Upgrade, Outshines Bitcoin

Ether rose to $1,994 on Thursday, reaching the highest point since August. The rally to an eight-month high comes off the back of a successful network upgrade called Shanghai, or Shapella. The upgrade implemented during Asian hours enables wit...
Markets
Apr. 13, 2023

Binance To Support Ether Staking Withdrawals From April 19

Binance announced Thursday that users who staked ether (ETH) through the exchange will be able to redeem coins with their BETH holdings on a 1:1 basis starting from April 19, 08:00 coordinated universal time (UTC). The announcement came hours...
Markets
Apr. 13, 2023

Kraken Leads Ether Unstaking Parade, Makes up 62% of Exit Queue

Ethereum’s Shanghai upgrade went live Thursday, Asia time, allowing those that have staked their ether to begin the unstaking process. On-chain data tracked by Rated network explorer shows that of all the validators moving to unstake, Krak...
Markets
Apr. 13, 2023

First Mover Asia: Major Cryptos Remain Unstirred by Inflation Data, Ethereum Shanghai Fork

Good morning. Here’s what’s happening: Prices: Bitcoin and ether were trading flat after a mildly encouraging inflation report and the unveiling of the Ethereum Shanghai upgrade. Insights: Go whale watching for a sense of where bitcoin's ...
Markets
Apr. 12, 2023

Bitcoin Hovers Around $30K, Ether Holds Above $1.9K Ahead of Shapella Upgrade

Bitcoin ( BTC ) hung precariously around $30,000 Wednesday afternoon after the latest Consumer Price Index (CPI) report showed inflation cooling slightly, but not as much as economists had expected. The largest cryptocurrency by market capital...
Markets
Apr. 12, 2023

Large Bitcoin Investor Sent $330M of BTC to Exchange Before Price Dropped Below $30K: Blockchain Data

A large bitcoin investor sent some $330 million in bitcoin ( BTC ) to crypto exchange BitFinex on Wednesday, according to blockchain sleuth Lookonchain , According to Bitcoin blockchain data , the bitcoin ‘whale’ transferred 11,000 BTC token...
Markets
Apr. 12, 2023

A Technical Analyst’s Take on Crypto

To some, technical analysis (TA) represents a substantive technique rooted in an asset’s price. To others, it warrants no attention at all because it’s just lines on a screen and self-fulfilling prophecies. During my stint in traditional finance...
Markets
Apr. 12, 2023

First Mover Americas: Ether's Shanghai Rumble

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 slippe...
Markets
Apr. 12, 2023

Ether-Bitcoin Ratio Likely to See Deeper Decline After Shapella Upgrade: QCP Capital

Singapore-based crypto options trading giant QCP Capital expects a deeper decline in the ether-bitcoin (ETH/BTC) ratio following the impending Shapella hard fork, dubbed Shanghai upgrade. "ETH/BTC has broken through the key support level of 0.65...
Markets
Apr. 12, 2023

Crypto Analysts Split on Ether Market Trends After Ethereum’s Shanghai Upgrade

The Ethereum blockchain's Shanghai upgrade , or more accurately called “ Shapella ,” is almost here. The backward-incompatible hard fork will allow users to access some $30 billion worth of ether locked in the network since the tail end of 2020....
Markets
Apr. 12, 2023

Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade

While analysts from traditional banks remained mixed on the market impact of ether (ETH) after the much-awaited Shanghai upgrade later today, an on-chain report from Glassnode estimates at least $300 million worth of selling pressure. “We esti...
Markets
Apr. 12, 2023

As Bitcoin Open Interest Surges to Highest Level Since FTX Crash Trading Firm Sees Bullish Signs

Open interest in bitcoin (BTC) across crypto derivatives exchanges has surged to $10 billion, a five-month high after leverage subsided in the wake of FTX's collapse in November, according to data from Coinalyze . A rise in open interest, which...
Markets
Apr. 12, 2023

Here is What Institutions Are Saying About Ethereum's Shanghai Upgrade

Analysts differ on the amount of ether (ETH) selling pressure that could result from the Ethereum blockchain’s Shanghai upgrade , scheduled for later today. The Shanghai upgrade (aka Shapella), will enable validators to withdraw staked ether and...
Markets
Apr. 12, 2023

China's 'Credit Impulse' Is Picking Up. Here's Why It Matters to Bitcoin

While the U.S. Federal Reserve (Fed) maintains its anti-liquidity stance, China no longer seems hesitant to expand credit in a positive sign for risk assets, including cryptocurrencies. Per data source MacroMicro, China's credit impulse index,...
Markets
Apr. 12, 2023

Bitcoin Slips Under $30K, Ether Staking Tokens Take a Beating Ahead of Shapella Upgrade

Bitcoin (BTC) slipped under the crucial $30,000 level in early European hours on Wednesday, with overall market capitalization falling 1.2% in the past 24 hours. Ether (ETH) traded just over $1,860, leading the drop among major tokens. Solana's ...
Markets
Apr. 12, 2023

Tron’s TRX Down 6% as Binance.US Delists Token

Tron’s TRX token has been delisted on Binance.US . This comes weeks after the U.S. Securities and Exchange Commission sued Justin Sun in late March over allegations of selling and airdropping unregistered securities, fraud, and market manipul...
Markets
Apr. 12, 2023

First Mover Asia: Does Bitcoin at $30K Really Matter?

Good morning. Here’s what’s happening: Prices: Bitcoin has a sense of stability at $30,000, but how long will that last? Insights: Crypto exchange Bitget is targeting Web3 startups with its $100 million fund. The initiatives comes as Asia...
Markets
Apr. 11, 2023

Bitcoin Holds Firm Above $30K, Ether Hovers Near $1.9K Ahead of CPI, Shapella Upgrade

Bitcoin ( BTC ) held firm above $30,000 on Tuesday as investors awaited Wednesday’s U.S. consumer price index (CPI) report for March and Ethereum’s Shapella upgrade. The largest cryptocurrency by market value was recently hovering over $30,200, ...
Markets
Apr. 11, 2023

Riot Platforms and Marathon Digital Lead Crypto Stock Gains as Bitcoin Settles in Above $30K

Crypto-related stocks are seeing a second day of big gains after bitcoin on Monday evening pushed through $30,000 for the first time since June 2022. At press time, it's managed to hold that advance, trading at $30,100. Bitcoin miners Riot Platf...
Markets
Apr. 11, 2023

First Mover Americas: Bitcoin Soars Past $30K

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 broke ...
Markets
Apr. 11, 2023

XRP's Four-Week Rally Was Led by Retail Investors: Kaiko

Payments-focused cryptocurrency XRP has rallied nearly 40% in the past four weeks, outperforming other top digital assets, including bitcoin. The rally was driven mainly by retail investors, while whales – or entities with ample capital supply –...
Markets
Apr. 11, 2023

Bitcoin, Not Ether, Builds Crypto Market Dominance Ahead of Ethereum's Shanghai Upgrade

Ethereum's highly anticipated Shanghai upgrade , also called the Shanghai-Capella hard fork, is set to occur Wednesday, after which users will have access to the $31 billion worth of ether (ETH) staked in the blockchain since December 2020. The...
Markets
Apr. 11, 2023

Aptos Bumps Ahead of $50M Token Unlock Which May Add Selling Pressure

Millions of aptos (APT) tokens will be unlocked on Wednesday in a planned move that’s set to increase circulating supply by 0.5%, data shows. The unlock is expected to occur on April 12 at 05:30 UTC. APT rose nearly 8% in the past 24 hours, Co...
Markets
Apr. 11, 2023

Bitcoin Shorts Take on 87% of Futures Liquidations as BTC Crosses $30K

Strength in bitcoin (BTC) pushed the asset over the crucial $30,000 level for the first time since June 2022, causing heavy losses to traders betting on a decline. Over 87% of all future trades that were liquidated in the past 24 hours were shor...
Markets
Apr. 11, 2023

Bitcoin Price Ticker Goes Live on China’s Douyin App

China’s version of TikTok, Douyin, is now showing the price of bitcoin in search results. Given that social media within China is tightly controlled , it is possible that this is another signal that Beijing is warming up to crypto and loosening...
Markets
Apr. 11, 2023

First Mover Asia: Arthur Hayes Sees a 'Balkanization of Finance' Coming Soon as Crypto Rallies

Good morning. Here’s what’s happening: Prices: Bitcoin and ether are well within the green as they near highs not seen since the Covid-induced bull market. Insights: For former BitMex CEO Arthur Hayes, traditional banking is broken and fi...
Markets
Apr. 10, 2023

Bitcoin Approaches $30K, Reaching Highest Price Since June

For a while Monday, even as large parts of the world were off work celebrating Easter Monday, bitcoin (BTC) seemed headed for a promised land above $30,000. The largest cryptocurrency by market capitalization, which just three weeks ago had teas...
Markets
Apr. 10, 2023

Crypto-Related Stocks Surge as Bitcoin Price Hits Highest Point Since June 2022

Marathon Digital (MARA), Coinbase (COIN) and MicroStrategy (MSTR) are among the names making big moves as bitcoin ( BTC ) rose more than 4% on Monday to top $29,200 for the first time since June 10, 2022. Alongside Marathon Digital's 12% advance...
Markets
Apr. 10, 2023

First Mover Americas: Ether Options Tilting Bearish

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 Ether options ...
Markets
Apr. 10, 2023

Bitcoin Faces Low Risk of 'Liquidations-Induced' Price Volatility After 70% Surge

Bitcoin (BTC) has surged 70% this year, hitting nine-month highs of over $29,000. While the sharp rally has brought the derivatives market back to life, the overall use of leverage remains muted, suggesting a low risk of "liquidations-induced" ...
Markets
Apr. 10, 2023

First Mover Asia: Is a ‘Sharp Move’ Around the Corner for Bitcoin and Ether?

Good morning. Here’s what’s happening: Prices: Ethereum's Shanghai upgrade is a few days away, but this isn't translating into selling pressure because most staked Ether is at a loss. Insights: In his latest Money Reimagined column, CoinD...
Markets
Apr. 07, 2023

First Mover Asia: Bitcoin Is Flat, Ether in the Red, as a Long Weekend Begins

Good morning. Here’s what’s happening: Prices: Bitcoin is flat at $28K while ether is down 1.1% to $1878 as the market's hopium subsides. Insights: Twitter boss Elon Musk spurred a jump in DOGE and had the crypto world's attention again. ...
Markets
Apr. 06, 2023

Dogecoin Drops After Elon Musk's Twitter Stops Using Its Logo

Dogecoin ( DOGE ) dropped after Twitter stopped using the token's dog as its logo. The cryptocurrency was recently down 7.9% to $0.085. DOGE surged on April 3 after Elon Musk's social-media company inexplicably removed its bird logo, replaci...
Markets
Apr. 06, 2023

Ether Holds Near $1.9K as Shanghai Fork Approaches

Ether ( ETH ) retreated below $1,900 on Thursday a day after surpassing this threshold and reaching its highest level since last August . The second-largest cryptocurrency by market capitalization was recently trading at $1,876, off 1.5% over t...
Markets
Apr. 06, 2023

Uniswap Topped Coinbase’s Trading Volume in March During USDC Depeg, U.S. Crackdown

Uniwap (UNI) topped Coinbase (COIN) in terms of market share last month as traders turned to decentralized exchanges (DEX) amid the U.S. regulatory clampdown and a banking crisis that caused key stablecoins to depeg from $1. Uniswap handled more...
Markets
Apr. 06, 2023

Stablecoin Tether's Market Capitalization Nears Record High of $83B

Tether ( USDT ), the world's largest dollar-pegged stablecoin, is thriving, having survived the Terra-induced turmoil of mid-2022. The market value of the stablecoin continues to rise and is now within a whisker of its record high. Coingecko ...
Markets
Apr. 06, 2023

First Mover Americas: Bitcoin Buckles the Day Before U.S. Jobs 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 is sho...
Markets
Apr. 06, 2023

Bitcoin's Tight Correlation With Tech Stocks Muddies Safe Haven Narrative

Bitcoin's price rose 23% in March as multiple U.S. banks went bust, bolstering recession fears. Several analysts have called the move higher a safe haven rally – with the price gain being attributed to investors seeking shelter in the top c...
Markets
Apr. 06, 2023

Jump in Shiba Inu Breed-Themed Tokens is Unsustainable, Warn Crypto Traders

Tokens fashioned after the Shiba Inu dog breed may see imminent selling ahead after days of outperforming the broader crypto market. Monday saw the Elon Musk-owned social media app Twitter replace its popular blue bird logo with that of Dogecoin...
Markets
Apr. 06, 2023

First Mover Asia: Crypto Liquidity Providers Can Be Profitable by Considering Trade Volume, Volatility Other Factors, Data Firm Says

Good morning. Here’s what’s happening: Prices: Ether holds near $1.9K ahead of the Shanghai upgrade; bitcoin hovers near $28K Insights: Becoming a successful crypto liquidity provider requires an active approach that considers trade volum...
Markets
Apr. 05, 2023

Ether Circles Above $1.9K as Shanghai Hard Fork Nears

Ether ( ETH ), the native token of the Ethereum blockchain, circled above $1,900 for much of Wednesday, a week before the Shanghai hard fork . The second-largest cryptocurrency by market capitalization was recently trading at $1,913, up about 2...
Markets
Apr. 05, 2023

Crypto’s Decentralized Exchanges Had Most Volume in 10 Months Amid U.S. Crackdown in March

Decentralized exchanges (DEX) had a large jump in cryptocurrency trading volume in March as U.S. regulators went after their centralized counterparts including Kraken, Coinbase and Binance. Volume on DEXs reached $133.1 billion, the third consec...
Markets
Apr. 05, 2023

Crypto Investors: Why You Need to Understand Layer 1 Protocols

As we discussed last week , the first quarter was a great time for cryptocurrency prices, but a terrible time for sentiment about the industry. I’d like to expound on the latter point, given that crypto is clearly in the crosshairs of regulators...
Markets
Apr. 05, 2023

First Mover Americas: Ether Rising Ahead of Upgrade

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 Ether jumped t...
Markets
Apr. 05, 2023

Bitcoin's Spot-to-Derivatives Trading Volume Ratio Slides to Lowest in 11 Months

The ratio between bitcoin's (BTC) daily trading volumes in spot and derivatives markets has slipped to an 11-month low, signaling renewed speculative activity in the crypto market. The ratio has tanked by nearly 80% in three months, reaching a l...
Markets
Apr. 05, 2023

Dogecoin Futures Set Record After Twitter Adopts Shiba Inu Logo

Dogecoin’s derivatives market have become busier than ever as prices rose sharply following Twitter’s decision to replace its popular blue bird logo with a picture of a Shiba Inu dog earlier this week. Open interest (OI) in stablecoin-margined d...
Markets
Apr. 05, 2023

Ethereum's Shanghai Upgrade Could Bring $2.4B Selling Pressure to Ether: Observers

Ethereum’s backward-incompatible Shapella hard fork or Shanghai upgrade, slated to happen in eight days, will let users withdraw their " staked ether ." The lingering fear in the market is that the impending unlocking of ETH deposited in the n...
Markets
Apr. 05, 2023

Ether Breaking Out Ahead of Ethereum’s Shanghai Upgrade: Bernstein

Ether (ETH) has underperformed bitcoin (BTC) this year by 14%, however it is now breaking out ahead of the Ethereum blockchain’s planned Shanghai upgrade , Bernstein said in a research report on Wednesday. With Ethereum's Shanghai upgrade sche...
Markets
Apr. 05, 2023

Ether Jumps to Nine-Month High Ahead of Shapella, Liquid Staking Tokens Jump

An upcoming upgrade on the Ethereum network is funneling capital to ether (ETH) and staking-focused tokens as traders likely expect higher prices for these assets in the future. Ether jumped 5% in the past 24 hours, a top performer among major t...
Markets
Apr. 05, 2023

First Mover Asia: Chilly DOGE, While Bitcoin Simmers Over $28.6K

Good morning. Here’s what’s happening: Prices: Dogecoin dropped into the red late Tuesday, while bitcoin and ether rose solidly as crypto markets absorbed the latest jobs report. Insights: Jason Pagoulatos tied Binance's loss of market sh...
Markets
Apr. 04, 2023

Tokenized Gold Surpasses $1B in Market Cap as Physical Asset Nears All-Time Price High

Tokenized gold assets surpassed $1 billion in combined market capitalization on Tuesday, according to data by crypto price tracker CoinGecko, as gold’s price neared its all-time high. Tokenized gold is a type of stablecoin that pegs its pr...
Markets
Apr. 04, 2023

Crypto Funds’ Bitcoin Holdings Rise as Investor Demand Rebounds

Digital asset-based trusts and funds have boosted their bitcoin holdings as investor demand has rebounded in the weeks following a number of bank failures. Data from crypto analytics firm CryptoQuant showed the amount of bitcoin (BTC ) held by ...
Markets
Apr. 04, 2023

Real-World Tokenization Is Surging as TradFi Grows More Receptive to Blockchain

Blockchain-based tokenization of real-world assets (RWA) is gaining traction among major financial service firms and other big brands. That makes a number of industry watchers upbeat about the trend in 2023. They say tokenization of RWA – a way ...
Markets
Apr. 04, 2023

Bitcoin's Huge Surge Pushes Crypto Market Cap to $1.19T, the Highest Since June

The total market capitalization for all cryptocurrencies has climbed to the highest level since June, helped by bitcoin’s (BTC) massive 70% rally to begin the year. The rise in overall crypto wealth stands out because it coincides with the indus...
Markets
Apr. 04, 2023

OPNX Exchange, Which Offers FTX Claims Trading, Led by Three Arrows Founders is Now Live

OPNX, a first-of-its-kind, crypto-focused exchange that lets users trade claims of bankrupt crypto companies, is live as of Tuesday, CEO Leslie Lamb said in a tweet. OPNX, short for Open Exchange, is a platform for trading what it says is a $20 ...
Markets
Apr. 04, 2023

First Mover Americas: Dogecoin Pops on New Twitter Logo

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 Dogecoin ( D...
Markets
Apr. 04, 2023

Ether Rallies to 8-Month High, Gains Ground Against Bitcoin

Ether ( ETH ), the native token of Ethereum's blockchain, rose to an eight month high on Tuesday, outshining market leader bitcoin (BTC), as U.S. stock futures traded higher while the dollar index dipped. Ether rose nearly 3% to $1,873, the high...
Markets
Apr. 04, 2023

South Korean Traders Are Jumping on SXP, ICX Tokens

Solar (SXP) and icon (ICX) tokens seem to be the new bets for South Korean traders. Both tokens have rallied by as much as 40% in the past 24 hours with hundreds of millions of dollars in trading volumes on local crypto exchanges. The ICX-Korea...
Markets
Apr. 04, 2023

Bitcoin Volatility Index's Correlation With Price Flips Positive, Boosts Appeal of Bullish Call Options

Crypto options exchange Deribit's forward-looking bitcoin volatility index ( DVOL ) offers clues about the market's expectations for price turbulence over the next 30 days, just as CBOE's volatility index, VIX , does for equities. A key differe...
Markets
Apr. 04, 2023

Binance Market Share Hits Lowest Since November After CFTC Lawsuit, End of Zero-Fee Trading

Binance remains the world’s largest crypto exchange by volume, but it’s seen a dramatic drop in market share after a U.S. regulator accused it of fraud and the exchange eliminated zero-fee trading for some trading pairs. Its market share relat...
Markets
Apr. 04, 2023

Dogecoin Futures Liquidations Jumps to $26M After Twitter Displays Token's Logo for Some Users

Futures tracking the popular dogecoin (DOGE) tokens racked up $26 million in liquidations in the past 24 hours in a higher-than-usual move, data from Coinglass shows. Both longs, or bets on, and shorts, or bets against, were nearly equally impac...
Markets
Apr. 04, 2023

First Mover Asia: Bitcoin Extends Its Stay Below $28K

Good morning. Here’s what’s happening: Prices: Bitcoin seesaws and then stays below $28K; DOGE soars to its highest levels since December, while other cryptos are mixed. Insights: Will Indonesia's CBDC offer an alternative to Visa and Ma...
Markets
Apr. 03, 2023

Bitcoin Drops to $27.5K While Dogecoin Spikes After Twitter Logo Change

Bitcoin ( BTC ) remained firmly within the range it has held for much of the past two weeks, trading as low as about $27,200 and as high as $28,400 Monday. The largest cryptocurrency by market capitalization was recently trading at $27,500, down...
Markets
Apr. 03, 2023

Dogecoin Gains 25% After Token's Symbol Replaces Blue Bird as Twitter Logo

Dogecoin ( DOGE ) is higher by 25% over the past 24 hours after the Shiba Inu symbol representing the token replaced the familiar blue bird atop the Twitter homepage. The popular meme coin was trading at $0.097, its highest level since early Feb...
Markets
Apr. 03, 2023

Internet Computer Issues ‘Liquid Bitcoin,’ for Faster and Affordable BTC Transactions

The Dfinity Foundation, a significant contributor to the development of the Internet Computer network, on Monday issued ckBTC — a liquid and cost-efficient “twin” token that is backed on a 1:1 basis with bitcoin (BTC). The development brings lay...
Markets
Apr. 03, 2023

First Mover Americas: Bitcoin's Within Range of $30K

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 has be...
Markets
Apr. 03, 2023

U.S. Banking System Turmoil Has Spurred Bitcoin Outperformance: Coinbase

Cryptocurrency markets have displayed resilience in the face of recent upheaval in the U.S. banking system, with bitcoin ( BTC ) in particular outperforming, Coinbase (COIN) said in a research report Friday. Coinbase notes that bitcoin has outpe...
Markets
Apr. 03, 2023

April Seasonality in Favor of Bitcoin and Stocks

Bitcoin ( BTC ) and U.S. stocks have entered one of their strongest seasonal period of the year. The top cryptocurrency by market value has chalked up gains in April in six out of the past ten years, averaging a return of more than 17%, accordi...
Markets
Apr. 03, 2023

First Mover Asia: Bitcoin Holds Above $28K as Investors Await Fresh Productivity, Jobs Data

Good morning. Here’s what’s happening: Prices: What turmoil? Bitcoin holds its perch above $28K. Other major cryptos mostly fall in weekend trading. Insights: Decentralized-focused tokens soared during the quarter. Their gains came as U....
Markets
Mar. 31, 2023

Crypto Market March Roundup: Bitcoin Rises Amid Banking Uncertainties, Macro Headwinds

An eventful March of bank failures, ongoing inflationary and other macroeconomic headwinds left investors mulling where to place their trust – and cash – and ultimately proved favorable for bitcoin and other cryptos considered stores of value imp...
Markets
Mar. 31, 2023

TUSD Stablecoin Daily Trading Volume Surpasses $1B After Binance Boost

Trading with the TrueUSD (TUSD) stablecoin has surged over the week, crypto price tracker CoinGecko’s data shows, a result of crypto exchange Binance’s support for the token, including a zero-fee discount to buy and sell bitcoin ( BTC ). TUS...
Markets
Mar. 31, 2023

Investors Pour Money Into Crypto Investments for a Fourth Straight Month

The amount invested in digital-asset products climbed for a fourth straight month in March as cryptocurrency prices continued to soar, according to data from CryptoCompare. Assets under management increased to $13..4 billion, up 10.9% from Febr...
Markets
Mar. 31, 2023

First Mover Americas: Ripple Labs' XRP Token Marches Forward

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 XRP has...
Markets
Mar. 31, 2023

Bitcoin Drops Below $28K as Options Expire, Traders Borrow WBTC From Aave

Bitcoin (BTC) traded under pressure on Friday as options worth billions of dollars expired and some traders took bearish bets on the cryptocurrency's Ethereum-based wrapped version, WBTC. The leading cryptocurrency by market value slipped by 1% ...
Markets
Mar. 31, 2023

Crypto Casino Rollbit's Token Drops 20% Amid Licensing Concerns

Crypto casino Rollbit says it hasn’t received any indication from authorities that its “operation are problematic,” however traders are not convinced and are selling the platform's RLB token. CoinGecko data shows that RLB is down 20% in the l...
Markets
Mar. 31, 2023

First Mover Asia: Bitcoin Hovers Around $28,000

Good morning. Here’s what’s happening: Prices: The crypto market is ending the week flat. Insights: Stefan Rust, the CEO of data aggregator TruFlation, suggests that TradFi may be approaching a tipping point and that bitcoin may benefit. ...
Markets
Mar. 30, 2023

Circle’s USDC Remains Dominant in DeFi as Pressure Eases on the Stablecoin

Circle-issued USDC has preserved its status as decentralized finance’s ( DeFi ) dominant stablecoin as the aftershocks of its key banking partner's collapse earlier this month subside, crypto analysts told CoinDesk. USDC has regained share in ...
Markets
Mar. 30, 2023

Bitcoin Is Still in Its ‘Safe Haven Period’: Analyst

Regulatory headwinds, uncertainty in the banking sector, and the forced exit of some bad actors may be why bitcoin ( BTC ) is outperforming traditional safe-haven assets, said Mark Connors, 3IQ head of research. “We’re still in the safe haven pe...
Markets
Mar. 30, 2023

First Mover Americas: Investors Dig Risk Again

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 rose s...
Markets
Mar. 30, 2023

Bitcoin Volatility Likely as Options Worth $4B Expire on Friday

Bitcoin (BTC) could see wild price swings heading into the weekend as options contracts worth billions of dollars tied to the cryptocurrency are set to expire on Friday. At press time, the quarterly expiry on dominant crypto options exchange Der...
Markets
Mar. 30, 2023

XRP Trading Volumes Surges to Billions of Dollars on South Korean Crypto Exchanges

The South Korean crypto trading mania has seemingly returned fueled by the surge in XRP tokens. Trading volumes for XRP spiked to billions of dollars on UpBit, Bithumb and Korbit, three of Korea’s top exchanges by volume, on the back of the tok...
Markets
Mar. 30, 2023

Bitcoin Price Rally Stalls as Whales Take Profits: CryptoQuant

Bitcoin ( BTC ) has rallied more than 17% in the past two weeks, displaying resilience amid regulatory headwinds and suggesting the asset could be in the early stages of a bull market. The price briefly crossed $29,000 on Thursday before retract...
Markets
Mar. 29, 2023

First Mover Asia: Bitcoin Rises Over $28.3K Despite Binance Legal Woes

Good morning. Here’s what’s happening: Prices: Investors shrugged off concerns about the Commodity Futures Trading Commission's suit against Binance to send bitcoin above $28K again. Insights: The Ethereum Goerli test network has been a p...
Markets
Mar. 29, 2023

USDC Outflows Surpass $10B as Tether’s Stablecoin Dominance Reaches 22-Month High

Crypto investors are fleeing Circle’s USD coin ( USDC ) stablecoin, with many of them switching to Tether, which has reached a 22-month high in market share. USDC token net outflows have surpassed $10 billion since March 10, when regulators shut...
Markets
Mar. 29, 2023

Crypto Exchange Gemini Looking to Launch Overseas Derivatives Operation: The Information

U.S.-based crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, is reportedly looking to launch an international cryptocurrency derivatives exchange, The Information reported . The platform would specifically offer perpetu...
Markets
Mar. 29, 2023

Cryptos Gained in Q1 Despite Weakened Asset Class Perceptions

It’s been an eventful start to 2023, with what feels like a full year of news crammed into just three months. Year-to-date cryptocurrency returns, similarly, have been much bigger than is typical for a single quarter: Layer 1s Bitcoin: 71% ...
Markets
Mar. 29, 2023

Open Interest in XRP Surges to $800M as Crypto Traders Hope Ripple-SEC Verdict Will Bring 'Alt Season'

Investors are having a relook at the futures market tied to payments-focused cryptocurrency XRP amid hopes that Ripple Labs, the company that issued the token, will win its legal battle against the U.S. Securities and Exchange Commission (SEC) ...
Markets
Mar. 29, 2023

First Mover Americas: Bitcoin, Up 70% This Year, Rebounds Past $28K

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 showed...
Markets
Mar. 29, 2023

Bitcoin Heads for Best Quarter in Two Years, Outperforms Ether, Gold, Nasdaq

Bitcoin (BTC) has begun 2023 with a bang, marking a positive turnaround from a year-long swoon. The leading cryptocurrency by market value has added almost 72% to $28,500 this year, its best quarterly gain in two years, CoinDesk data show. The...
Markets
Mar. 29, 2023

Bitcoin Regains $28K; XRP Surges for a Second Day

Bitcoin (BTC) showed signs of resilience Wednesday, shedding tremors from regulatory action against crypto exchange Binance to recover above the key $28,000 level. XRP tokens jumped for a second straight day, adding 11% in the past 24 hours. T...
Markets
Mar. 29, 2023

Binance’s On-Chain Balance Stands at $64B, Nansen Data Shows

Binance’s on-chain balance remains high, despite U.S. regulators charging Binance for violating U.S federal law this past week and Forbes’ allegations last month that Binance cd shuffled assets in a similar manner as FTX. Data from blockchai...
Markets
Mar. 29, 2023

First Mover Asia: Will CFTC's Action Against Binance Benefit Crypto’s Asia Narrative?

Good morning. Here’s what’s happening: Prices: Ether is outperforming bitcoin as the CFTC reiterates it should be under its purview, and not the SEC's. Insights: The CFTC's lawsuit against Binance is part of the increasing regulator scrut...
Markets
Mar. 28, 2023

Bitcoin Layer 2 Stacks' Token a Top Performer in March

Stacks ( STX ), the native token of Stacks Network, has soared in March amid booming hype for Bitcoin Ordinals and growing total value locked (TVL) on the protocol. The project is also set to undergo an upgrade later this year to further speed ...
Markets
Mar. 28, 2023

Bitcoin Seesaws Around $27K as Investors Digest Binance-CFTC Lawsuit

Bitcoin ( BTC ) consolidated around $27,000 as investors continued to mull the potential impact of the U.S. Commodity Futures Trading Commission (CFTC) lawsuit against Binance and founder Changpeng Zhao over alleged regulatory violations includ...
Markets
Mar. 28, 2023

Fear and Greed Index Pulls Back After Hitting 'Greediest' Level Since Late 2021

The crypto Fear and Greed index , a metric that aims to measure current sentiment in the market, dipped to 59 on Tuesday, sliding from a nearly 18-month high of 68 reached one week ago, according to data from alternative.me . Readings above 50...
Markets
Mar. 28, 2023

Crypto Exchange Mango Markets Considers Raising Interest Rates for Popular Tokens

The governing body that manages decentralized crypto exchange Mango Markets is voting on boosting the interest rates the Solana-based protocol pays to lenders of its most popular tokens. All tokens pools at 50% utilization – meaning half of us...
Markets
Mar. 28, 2023

Binance's BUSD Stablecoin Sees $500M Outflows After CFTC Lawsuit

Binance USD ( BUSD ), a stablecoin pegged to U.S. dollars, has seen over $500 million in outflows in the roughly 24 hours since a U.S. lawsuit was filed against Binance and its CEO Changpeng Zhao, data from CryptoQuant shows. This rush to the ex...
Markets
Mar. 28, 2023

First Mover Americas: Bitcoin Drops on CFTC’s Suit vs. Binance

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 The U.S. Commo...
Markets
Mar. 28, 2023

CFTC-Binance Lawsuit Could Worsen Crypto Market Liquidity, Pull Bitcoin Down to $25K: Observers

Poor liquidity, a problem plaguing crypto markets since the collapse of FTX in November, could worsen, breeding price volatility as regulators go after dominant exchange Binance. On Monday, the U.S. Commodity Futures Trading Commission (CFTC) ...
Markets
Mar. 28, 2023

XRP Surges to Five-Month High as Some Point to Bitcoin Commodities Mention

XRP tokens surged 8% over the past 24 hours to buck a market-wide decline following a U.S. Commodity Futures Trading Commission (CFTC) filing against prominent crypto exchange Binance. XRP traded just under 50 cents in Asian morning hours on Tue...
Markets
Mar. 28, 2023

First Mover Asia: China’s State-Owned Banks Are Soliciting Hong Kong Crypto Business, but Opening an Account Is Hard

Good morning. Here’s what’s happening: Prices: Bitcoin is hovering around $27,000 after the CFTC takes action against Binance. Insights: The Hong Kong branches of China's state-run banks want crypto. Now for the hard part. Prices ...
Markets
Mar. 27, 2023

Bitcoin Sinks Below $27K After CFTC Files Suit Against Binance

Bitcoin ( BTC ) plunged below $27,000 after the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its founder Changpeng Zhao over allegations that the exchange knowingly offered unregistered crypto derivatives...
Markets
Mar. 27, 2023

Binance Bitcoin Trading Volume Hits Lowest Level in 8 Months Following Termination of Zero-Fee Trading

The world’s largest crypto exchange by trading volume, Binance, recorded its lowest bitcoin trading volume on Sunday since July 4, 2022, according to data from Kaiko. Volume for 13 trading pairs, which once accounted for roughly half of the ex...
Markets
Mar. 27, 2023

Crypto-Related Stocks Drop Alongside Bitcoin on CFTC Binance Suit

Stocks of crypto companies fell Monday after the U.S. Commodity and Futures Trade Commission (CFTC) sued Binance , the world's largest cryptocurrency exchange by trading volume, and CEO Changpeng Zhao. Coinbase (COIN), the only U.S. publicly tr...
Markets
Mar. 27, 2023

First Mover Americas: First Citizens Scoops Up Big Chunks of Silicon Valley Bank

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 The Federal De...
Markets
Mar. 27, 2023

Bitcoin Has Benefited From U.S. Dollar Liquidity to Support Banks: Morgan Stanley

Expectations of increased U.S. dollar liquidity to support the banking sector following a string of forced closures has helped bitcoin (BTC) rally, but other factors are also at play, Morgan Stanley (MS) said in a research report Sunday. Bitcoin...
Markets
Mar. 27, 2023

ARK Invest Scoops Up Coinbase, Block Shares for Second Straight Day

Cathy Wood's ARK Invest bought $12.6 million of Coinbase (COIN) shares on Friday, the second straight day the fund bought the crypto exchange's stock after the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC)...
Markets
Mar. 27, 2023

First Mover Asia: Bitcoin Is Ready for a Consolidation Phase

Good morning. Here’s what’s happening: Prices: Bitcoin is beginning the week testing $28,000, but a consolidation at $25K is within the realm of possibilities. Insights: Decentralized derivatives platforms are short of liquidity. What's i...
Markets
Mar. 24, 2023

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

Narratives among crypto bulls are ephemeral except one: Bitcoin (BTC) is an antidote to unconventional Federal Reserve monetary policies. It has recently reached a fever pitch on Crypto Twitter, thanks to venture capitalist and angel investor Ba...
Markets
Mar. 24, 2023

Bitcoin Edges Below $28K as Investors Weigh Deutsche Bank Contagion Fears

Cryptocurrency prices sank Friday as investors grappled with a new threat to the global banking system as well as continuing concerns about U.S. monetary policy. Bitcoin ( BTC ), the largest cryptocurrency by market capitalization, was recently ...
Markets
Mar. 24, 2023

Here's Why Crypto Traders Should Be Attentive to 'De-Inversion' of Treasury Yield Curve

Crypto traders looking for cues on whether bitcoin's ( BTC ) bull run could continue without disruptions should look at what the U.S. bond market is saying. Bitcoin has gained over 60% this year, starting the pre-halving bullish period with a ba...
Markets
Mar. 24, 2023

Arbitrum Tokens Rack up $2B in Trading Volume, Analysts Point to Growth Ahead

Arbitrum’s native ARB tokens saw more than $2 billion in trading volume in the first 24-hours since going live, data shows. The ARB token serves as a means of governance for the protocol. Holders of ARB can participate in decision-making process...
Markets
Mar. 24, 2023

First Mover Americas: Bitcoin Clings to $28K as Turbulent Week Draws to Close

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 After a week o...
Markets
Mar. 24, 2023

Arbitrum, Ether Liquidity Providers Earn $500K From ARB Airdrop

Entities providing liquidity to one of the most-anticipated token issuances in recent times made over $500,000 in profits in the first few hours, data shows. Arbitrum’s governance tokens, ARB, went live for claiming on Thursday. The tokens can b...
Markets
Mar. 24, 2023

ARK Buys the Wells Dip With $17.7 Million COIN Purchase

ARK Invest bought COIN low and sold it high this week. On Tuesday, Cathie Wood’s fund sold 160,887 shares of COIN for $13.5 million when the stock was at approximately $83 a share. Just over 48 hours later, ARK bought the dip and purchased 268,9...
Markets
Mar. 23, 2023

First Mover Asia: Bitcoin Regains Momentum as Investors Shrug Off Banking, Fed Concerns

Good morning. Here’s what’s happening: Prices: Bitcoin rebounded past $28K a day after an unwelcome – in some corners – U.S. central bank interest rate hike sent the price spinning downward. Will the momentum last? Insights: Bitcoin addre...
Markets
Mar. 23, 2023

Bitcoin Holds Steady Above $28K, Ether Rises in Post-Rate Hike Rally

Bitcoin ( BTC ) was hovering above $28,000 Thursday as major cryptocurrency assets shrugged off the U.S. Federal Reserve’s 25-basis point rate hike and ongoing concerns about the banking sector and future monetary policy decisions. BTC, the la...
Markets
Mar. 23, 2023

Arbitrum Token Settles at $1.38 Amid Airdrop Claim Chaos

The Arbitrum token (ARB) is now trading at around $1.38 across centralized and decentralized exchanges after a turbulent launch. There has been a total of $27 million in trading volume in the first hour since the claim opened, according to Coin...
Markets
Mar. 23, 2023

Arbitrum's ARB Token Trades at $3.99 as 625,143 Wallets Receive Airdrop

The long-awaited Arbitrum token (ARB) made its market debut Thursday, trading at $3.99 on Uniswap as volatility spiked on decentralized exchanges. The official claim for the token went live at the Ethereum block height of 16,890,400 at 13:05 UTC...
Markets
Mar. 23, 2023

First Mover Americas: SEC Warns Coinbase

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 The U.S. Secur...
Markets
Mar. 23, 2023

Floor Prices for Donald Trump NFTs Surge on News of Possible Indictment

A set of non-fungible tokens (NFTs) related to former U.S. President Donald Trump have jumped over 30% in ether-denominated value over the past week amid a possible indictment and arrest of the former president. At the time of writing, the Polyg...
Markets
Mar. 23, 2023

Bitcoin Miners' Revenue From Fees Rises Suggesting the Onset of Major Bull Run

Bitcoin's (BTC) 60% year-to-date surge may be only the first milestone in its upward journey, as miner revenues from transaction fees are rising. The two-year Z-score for miner revenue from fees, an indicator used to identify periods of high and...
Markets
Mar. 23, 2023

Arbitrum Daily Transaction Count Hits Record High Ahead of Token Airdrop

Activity on Arbitrum, an Ethereum-layer 2 scaling system that uses Optimistic rollups technology to provide faster and cheaper transactions, has picked up the pace ahead of the planned airdrop of its native token ARB on Thursday. The number of...
Markets
Mar. 23, 2023

Bitcoin Inches Toward $28K as Traders See $260M in Futures Liquidations

Bitcoin gradually moved to just under $28,000 on Thursday as traders digested the quarter-point interest rate raise Wednesday by U.S. Federal Open Market Committee (FOMC), in line with expectations. The decision reinforced the Federal Reserve's ...
Markets
Mar. 23, 2023

Avalanche Blockchain's X and C Networks See Brief Outage

Avalanche’s AVAX token fell nominally after nodes on the protocol’s X and C chains went down due to bugs in new software pushed out. Avalanche is unique as it uses three chains: the C-chain, X-chain, and P-chain. The C-chain is home to Avala...
Markets
Mar. 23, 2023

First Mover Asia: Blockchain-Enabled SIM Card for Crypto Investors Fuels Conflux Growth; Bitcoin Holds Near $27.3K After Fed Decision

Good morning. Here’s what’s happening: Prices: Bitcoin and most other major cryptos fell after the Fed raised the interest rate 25 basis points and made clear that inflation remained its focus even after recent banking debacles. Insights: ...
Markets
Mar. 22, 2023

Binance Curb on Zero-Fee Trading May Cost Market Share, Boost TrueUSD Stablecoin: Kaiko Research Head

Binance’s market share may drop after the world’s largest crypto exchange by trading volume abolished most zero-fee trading after just nine months, according to Kaiko's head of research. Binance phased out zero-fee buying and selling bitcoin ( B...
Markets
Mar. 22, 2023

Bitcoin Sinks Below $27K as Fed, Powell Keep Focus on Inflation

Bitcoin sank below $27,000 as the U.S. Federal Open Market Committee (FOMC) did as was widely expected Wednesday, raising the interest rate by a quarter point . The decision reinforced the central bank's concerns that inflation remained proble...
Markets
Mar. 22, 2023

Tron Network’s TRX Drops 13% Following SEC Charges Against Justin Sun

The Tron network’s native TRX token dropped 13%, per CoinDesk data , from 6.7 cents to 5.8 cents after the Securities and Exchange Commission (SEC) announced charges against Justin Sun and three of his companies including Tron Foundation and B...
Markets
Mar. 22, 2023

Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil

Bitcoin has regained its luster as digital assets outperform following traditional finance’s (TradFi) recent turbulence. With the collapse of Silvergate, Silicon Valley Bank (SVB), Signature Bank and most recently Credit Suisse, cryptocurrencies ...
Markets
Mar. 22, 2023

First Mover Americas: Bitcoin Traders Await Fed's Decision

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 contin...
Markets
Mar. 22, 2023

XRP Token Surges on Positive Outlook in Ongoing Ripple vs SEC Case

XRP tokens surged over 20% in the past 24 hours after reports of issuer Ripple being well-placed to win its landmark case against the U.S. Securities and Exchange (SEC) emerged on Tuesday. XRP traded at 45 cents on Wednesday, seeing trading volu...
Markets
Mar. 22, 2023

Tether Stability Made It the Safest Stablecoin Bet Amid U.S. Banking Crisis, Analysts Say

The often-controversial tether (USDT) stablecoins emerged as the best bet for traders looking for a stable haven earlier this month following a series of banking troubles in the U.S. The USD coin (USDC) fell under 90 cents on March 11 after ...
Markets
Mar. 22, 2023

Blockchain-Based Debt Protocol Obligate Records First Bond Issuance on Polygon Network

Obligate , a blockchain-based debt securities protocol, has executed the first bond issuance without any banks involved using the Polygon blockchain, the protocol announced Wednesday in a statement. The issuer was Muff Trading AG, a Swiss phy...
Markets
Mar. 22, 2023

First Mover Asia: Traders Focused on Liquidity & FOMC as Asia Opens Its Business Day

Good morning. Here’s what’s happening: Prices: Crypto prices continue to remain flat as traders a traders await the FOMC's decision on interest rates. Insights: Monetary liquidity expectations are one driver moving crypto markets these da...
Markets
Mar. 22, 2023

ARK Invest Sells $13.5M Coinbase Shares After Steady Buying Streak

Growth investor Cathie Wood's ARK Invest sold 160,887 shares of crypto exchange Coinbase (COIN), worth $13.5 million, on Tuesday U.S. time. During the crypto winter, ARK made a series of buys of Coinbase's stock. Throughout 2022, COIN underperf...
Markets
Mar. 21, 2023

Bitcoin Holds Firm Above $28K, Equities Rise Amid Banking Sector Rebound

Bitcoin ( BTC ) climbed past $28,000 on Tuesday as the U.S. Federal Reserve's Federal Open Market Committee (FOMC) started its two-day monetary policy meeting to decide on whether to increase the interest rate again. The CME FedWatch Tool show...
Markets
Mar. 21, 2023

First Mover Americas: Bitcoin Holds Steady at $28K Before Fed Meeting

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 After surpassi...
Markets
Mar. 21, 2023

Crypto Users Bridge Millions to zkSync Blockchain in Hopes of Token Airdrop

Crypto users are bridging millions of dollars in funds to the zkSync network in a move that’s likely in anticipation of a potential token airdrop. Airdrops refer to crypto projects sending free tokens en masse to their communities in a bid to en...
Markets
Mar. 21, 2023

Fed Preview: Powell Likely to Raise Rates by 25 bps Against Crypto Market's Hope for Status Quo

"The Fed needs to pause at a minimum, or the banking issues escalate," David Brickell, director of institutional sales at crypto liquidity network Paradigm, tweeted early Tuesday, suggesting that the world's most powerful central bank should pr...
Markets
Mar. 21, 2023

Arbitrum Put Options Let Traders Bet on First Day Price Action

Arbitrum (ARB) token derivative markets are popping up on centralized and decentralized exchanges ahead of Thursday’s claim event. Decentralized marketplace Clober is letting traders purchase puts on ARB with strike prices of 50 cents, $1, $2, $...
Markets
Mar. 21, 2023

Bitcoin's Price Rally Driven by Americans' Safe Haven Bid: Matrixport

The recent bank failures in the U.S. have exposed the fractional reserve banking system’s core limitations and strengthened the case for investing in bitcoin (BTC). Analysis by crypto services provider Matrixport shows that American buyers are...
Markets
Mar. 21, 2023

First Mover Asia: Crypto VC Funding Was Resilient in the Bear Market. It’s Now Powering Through This Mini-Bull Cycle

Good morning. Here’s what’s happening: Prices: Bitcoin is starting the Asia trading day in the red for the first time in a while. Insights: The crypto venture capital industry is experiencing a mini bull market. Prices #wid...
Markets
Mar. 20, 2023

Bitcoin Seesaws Below $28K as Investors Eye Fed Interest Rate Decision

Bitcoin lost momentum on Monday, teeter-tottering above and below $28,000 as investors seemed ready to hunker down in advance of the U.S. central bank's next interest rate decision on Wednesday. The largest cryptocurrency by market capitalizatio...
Markets
Mar. 20, 2023

Decentralized Exchange Camelot Crosses $100M in TVL Ahead of Arbitrum Airdrop

Camelot, an Arbitrum native decentralized exchange (DEX), has seen its total value locked (TVL) rise by more than 50% over the past week, crossing $100 million as of Sunday. The surge comes as users are gearing up for Arbitrum’s token airdrop , ...
Markets
Mar. 20, 2023

Digital Asset Outflows Continue for 6th Week Despite Bitcoin Price Surge

Despite bitcoin’s price surging, digital asset investment products totaled net outflows for a sixth consecutive week last week, a report by CoinShares shows. Digital asset net outflows totaled $95 million for the week ending March 17. Outflows ...
Markets
Mar. 20, 2023

First Mover Americas: Bitcoin, as Safety Play, Climbs Past $28K

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 climbe...
Markets
Mar. 20, 2023

Cryptocurrency Market to See More Upside Following Bank Problems: Bernstein

Financial markets have been shaken in the past week following a series of bank collapses, providing a perfect setting for the decentralized financial system to stand out as an alternative, and for a continued advance in cryptocurrency markets, Be...
Markets
Mar. 20, 2023

Cryptocurrency Outlook Is Strengthened by U.S. Banking Turmoil: Coinbase

The medium to long term outlook for the cryptocurrency market has been “reinforced to the upside” following recent turmoil in the U.S. banking industry, Coinbase (COIN) said in a report Friday. “Cryptocurrencies have exhibited some resilience, i...
Markets
Mar. 20, 2023

Crypto Market Witnesses Odd Relationship Between Bitcoin, Ether Volatility Metrics

For the first time in nearly two years, crypto options traders are implying that the largest cryptocurrency, bitcoin (BTC), will be more volatile than ether (ETH), the second-largest and the native token of the Ethereum blockchain. That's unusua...
Markets
Mar. 20, 2023

Open Interest in Bitcoin Futures Hits Yearly High of $12B

The dollar value locked in the number of open bitcoin (BTC) futures contracts is rising, signifying increased speculative interest in the market and potential for price volatility. Data from CoinGlass shows the nominal value of open interest h...
Markets
Mar. 20, 2023

Arbitrum IOU, Futures Markets Heat Up Ahead of ARB Token Airdrop

Derivative markets for the upcoming Arbitrum (ARB) tokens are already open to traders ahead of this week’s claim event. Arbitrum developers confirmed last week that ARB will be airdropped to community members on Thursday, March 23, based on th...
Markets
Mar. 20, 2023

Fed, ECB and Others Take Coordinated Steps to Boost Dollar Liquidity; Bitcoin Tops $28K

The U.S. Federal Reserve (Fed) on Sunday announced it had joined hands with other major central banks to ensure a steady flow of the U.S. dollar, a dominant reserve currency, in the global financial system. The Fed said it would increase the f...
Markets
Mar. 20, 2023

First Mover Asia: Bitcoin Is Being Made Great Again

Good morning. Here’s what’s happening: Prices: Bitcoin is pushing past $28,000 but might face some resistance at $30,000. Insights: What's driving the recent surge in bitcoin's price? Investors are looking for a safer bet in cryptos, but ...
Markets
Mar. 17, 2023

Crypto Derivatives Protocol Volmex Finance's Bitcoin and Ether Volatility Charts Now Live on TradingView

Charts of Ethereum-based volatility and derivatives protocol Volmex Finance's implied volatility (IV) indices for bitcoin (BTC) and ether (ETH) are now available on a leading technical analysis platform TradingView. The charts went live on Frida...
Markets
Mar. 17, 2023

First Mover Americas: Bitcoin Busts Through $26K

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, the w...
Markets
Mar. 17, 2023

Bitcoin Is Benefiting From Crypto’s Flight to Quality: Matrixport

Bitcoin (BTC) is benefiting from instability in the financial system, from falling inflation that allows the Federal Reserve to become less hawkish, and from a regulatory overhang that has hit stablecoins, crypto services provider Matrixport said...
Markets
Mar. 17, 2023

Crypto Speculators Betting on ‘No Airdrop’ for Arbitrum Lose 95% of Capital

Crypto punters making bearish side bets on the possibility of layer 2 network Arbitrum issuing its native tokens were caught offside on Thursday as ARB tokens were launched. Users of Arbitrum, which has seen immense growth in the past few months...
Markets
Mar. 17, 2023

Bitcoin Breakout Has Put $28K in Cross Hairs

Bitcoin (BTC) looks north, having cleared a major resistance during Friday's Asian trading hours. The top cryptocurrency rose past $25,000, breaching the resistance dating back to August 2022 that also capped gains last month. The move has s...
Markets
Mar. 17, 2023

Crypto Twitter Thinks the Fed's $297B Balance Sheet Expansion Is 'QE', But It's Not

The U.S. Federal Reserve's (Fed) balance sheet expanded by $297 billion to $8.63 trillion in the week of March 15, reaching the highest value since November. The sharp increase has crypto Twitter saying that the world's most powerful central ban...
Markets
Mar. 17, 2023

Wallet Tied to Euler Exploit Sends 100 Ether to Lazarus Group

Addresses associated with a recent exploit of the Euler DeFi protocol , and last year’s hack of Axie Infinity’s Ronin network are interacting and nobody knows why. On-chain data first spotted by Look on Chain shows that an address controlled ...
Markets
Mar. 17, 2023

First Mover Asia: Asia Pushes Bitcoin Past $25K

Good morning. Here’s what’s happening: Prices: Bitcoin is pushing past 25K and its correlation with stocks is decreasing. Insights: Plagiarism, fork or simple mistake? the Shiba Inu community is debating the origin story of the Shibarium ...
Markets
Mar. 17, 2023

ArenaDAO's Governance Token Surges Almost 50% Amid Vote to Authorize Paradigm Purchase

ARENA, ArenaDAO’s governance token, jumped 11.12% in the past hour and 48.99% in the past 24 hours following the opening of ArenaDAO’s vote to authorize crypto native investment firm Paradigm purchase 150 million tokens or 15% of the total sup...
Markets
Mar. 16, 2023

The Graph's GRT Rallies 15% Amid AI Token Surge

Indexing protocol The Graph’s GRT token has rallied 18% over the last 24 hours as AI-related tokens pumped following ChatGPT’s release of its latest version of the technology that powers the popular chatbot tool. OpenAI, the company behind C...
Markets
Mar. 16, 2023

Bitcoin Holds Steady Above $25K as European Banking Crisis Eases

Bitcoin maintained steady above $25,000 after the Swiss National Bank seemed to head off a European banking crisis by agreeing to lend troubled investment bank Credit Suisse about $50 billion, and investors’ hopes rose that the U.S. central ban...
Markets
Mar. 16, 2023

First Mover Americas: Investors Pull Coins From Bitcoin Funds

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 funds ...
Markets
Mar. 16, 2023

Crypto Observers Believe U.S. Banking Crisis Could Strengthen Crypto Ecosystem in the Long Term

Market observers say the ongoing breakdown of crypto-focused banks can have benefits for the crypto ecosystem in the long term, brushing off bearish sentiment that has emerged in crypto circles over the past few days. Last week, financial market...
Markets
Mar. 16, 2023

Bitcoin Holds Steady; Dogecoin Leads Slide in Major Cryptocurrencies as Traders Lock In Gains

Majors crypto tokens slid as traders sold holdings to lock in the past few days' gains. Dogecoin (DOGE) and Polygon’s MATIC led losses with declines of more than 8%. Bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies, stabilized at ...
Markets
Mar. 16, 2023

Bitcoin Held in Funds Drops to Lowest Since October 2021, ByteTree Data Shows

Bitcoin (BTC) funds are bleeding coins as U.S. bank failures fuel expectations of an early Federal Reserve (Fed) pivot in favor of liquidity easing. Data tracked by ByteTree Asset Management shows the number of coins held by close-ended funds, s...
Markets
Mar. 16, 2023

Shiba Inu Token Falls 10% Amid Shibarium Code Drama

Shiba Inu (SHIB) prices fell 10% in the past 24 hours amid drama surrounding the codebase of the upcoming Shibarium blockchain. The much-awaited Shibarium blockchain released its beta version for the layer 2 network last week, as CoinDesk repor...
Markets
Mar. 16, 2023

First Mover Asia: Bitcoin Dips Below $25K as Market Debates Liquidity

Good morning. Here’s what’s happening: Prices: Bitcoin and ether are coming off a multi-day rally, slipping into the red. Insights: Bitcoin and ether volatility stunned bears and bulls alike over a 24-hour period earlier this week. Was the...
Markets
Mar. 15, 2023

Bitcoin Slides Below $24.5K as European Banking Woes Spook Investors

Bitcoin slid below $24,500 as investors weighed a potential European banking meltdown triggered by concerns about often-embattled Credit Suisse. The largest cryptocurrency by market capitalization dropped to $23,946 at one point before regaining...
Markets
Mar. 15, 2023

Helium's HNT Crypto Token Slides to 2-Month Low After Binance.US Delisting Announcement

Helium’s HNT token dropped to its lowest level in two months on Wednesday after crypto exchange Binance.US said it will delist the cryptocurrency on March 21. The token has lost 20% in the past 24 hours and was recently trading at $2. The de...
Markets
Mar. 15, 2023

Bitcoin Dominance Reaches 9-Month High

The bitcoin ( BTC ) dominance rate – the leading cryptocurrency by market value’s share of the total crypto market – has reached a nine-month high of 45.5%, according to data from charting platform TradingView. BTC.D last reached over 45% on Jun...
Markets
Mar. 15, 2023

Evaluating Bitcoin as a Store of Value

It’s a common question: Is bitcoin (BTC) a store of value? While proponents say, “Yes” without hesitation, skeptics note its historically large drawdowns. And that’s fair. Not long ago, in November 2021, bitcoin reached nearly $70,000 but is now ...
Markets
Mar. 15, 2023

First Mover Americas: Bitcoin Falls Back to Below $25K

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 has re...
Markets
Mar. 15, 2023

Bitcoin Options Market Still Afraid of USDC Volatility

The Circle-issued USDC stablecoin regained its dollar peg, recovering from the Silicon Valley Bank-induced chaos over the weekend that saw its price plummet to $0.90 on major exchanges. The re-pegging is yet to calm nerves in bitcoin's derivat...
Markets
Mar. 15, 2023

Bitcoin Isn’t Trading as a Currency, but as a Speculative Asset: Morgan Stanley

As concerns mount about traditional banks following the forced closures in the U.S ., this should be bitcoin’s (BTC) “moment to shine,” as holders of the largest cryptocurrency in private wallets should be protected from counterparty risk, Morga...
Markets
Mar. 15, 2023

Ethereum's Network-to-Value Ratio Slides to 3-Month Low as ETH Rallies 20%

An on-chain indicator suggests leading smart-contract blockchain Ethereum's native cryptocurrency, ether (ETH), may be trading at compelling valuations. The seven-day average of Ethereum's network-to-value (NVT) ratio, which measures the crypto...
Markets
Mar. 15, 2023

Bitcoin, Ether Volatility Stuns Bears And Bulls Alike; Some Say Recent Price Action Driven by Bank Crisis

Higher-than-usual market volatility affected bulls and bears alike as crypto futures racked up $300 million in liquidations in the past 24 hours. Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a par...
Markets
Mar. 15, 2023

Over Two Billion USDC Stablecoin Burnt in Single Day, Data Shows

Over $2.2 billion worth of USD Coin (USDC) was burnt since the start of this week as redemptions crossed $4 billion on Tuesday night. Some 723 million USDC were burnt in a single transaction in early Asian hours on Wednesday, as per The Block ,...
Markets
Mar. 15, 2023

First Mover Asia: Bitcoin Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes

Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos spent another day in the green after an encouraging inflation report and continued hopefulness for a less hawkish Fed. Insights: The crypto industry mu...
Markets
Mar. 15, 2023

Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future

Circle-issued USDC ’s s inability to hold its peg against the U.S. dollar three days ago sent investors fleeing. Circle has removed about 3.9 billion USDC from the circulating supply since last Friday , with the current total supply at 39.5 bi...
Markets
Mar. 14, 2023

Bitcoin Gains Early, Fades Late to Trade Below $25K

Buoyed by mildly encouraging inflation data and the banking sector’s continued rebound from near disaster, bitcoin rose above $26,000 on Tuesday for the first time in nine months before losing some of its gains. The largest cryptocurrency by m...
Markets
Mar. 14, 2023

In About-Face, Crypto Exchanges Abandon Support for STG Token Reissuance

Bitfinex and Binance are walking back technical support for Stargate Finance’s plans to reissue its stargate (STG) tokens , according to several announcements that came out this week. They will now promote the use of the protocol’s original STG ...
Markets
Mar. 14, 2023

Decentralized Borrowing Protocol Liquity’s LQTY Token Soars Amid USDC Chaos

LQTY, native token for decentralized borrowing protocol Liquity, has gained massive interest following the chaos from the depegging of the second largest stablecoin by market capitalization, Circle’s USDC. The price of LQTY, the secondary token ...
Markets
Mar. 14, 2023

First Mover Americas: Bitcoin Hits 9-Month High

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 contin...
Markets
Mar. 14, 2023

Bitcoin Options Volume on Deribit Hits Highest Level in 22 Months as Bank Failures Breed Volatility

Trading in bitcoin (BTC) options listed on cryptocurrency exchange Deribit has soared in the wake of U.S. bank failures and resulting market volatility. Bitcoin options worth $2.4 billion have changed hands on Deribit in the past 24 hours, the h...
Markets
Mar. 14, 2023

Vitalik Buterin-Named Wallet Sent 500 Ether to Mint RAI, Buy USDC Amid Depegging

A wallet named after Ethereum co-founder Vitalik Buterin spent 500 ether, or just over $700,000, over the weekend to mint the lesser-known RAI stablecoin and used the funds to purchase USD Coin (USDC) while it traded below its $1 peg. The wallet...
Markets
Mar. 14, 2023

Bitcoin Nears $25K as Interbank Funding Stress Indicator Surges to Highest Level Since COVID Crash

Bitcoin (BTC) continued to rally early Tuesday as a key banking sector risk indicator spiked, strengthening the case for a pause in Federal Reserve's (Fed) rate hikes. The leading cryptocurrency by market value rose to a three-week high of $24,9...
Markets
Mar. 14, 2023

Bitcoin Crosses $24.7K, Sees Highest Liquidations in Two Months

Bitcoin (BTC) added over 11% in the past 24 hours to trade above $24,700 on Tuesday, retracting all losses from over the weekend and setting a three-week high. The movement possibly came as a surprise to traders who may have otherwise bet on dec...
Markets
Mar. 14, 2023

First Mover Asia: Bitcoin’s Store of Value Narrative Is on Full Display; Crypto Prices Stay Green

Good morning. Here’s what’s happening: Prices: Bitcoin is leading the crypto rally as a flight from USDC accelerates. Insights: Banks serving the digital asset industry will continue to exist, despite the recent banking crisis. Prices ...
Markets
Mar. 13, 2023

Bitcoin Spike to $24.5K Stemmed From Regulators' Bank Interventions, Binance Stablecoin Conversion, Investor Hopes for Fed Dovishness

Bitcoin surged above $24,000 for the first time in over two weeks as investors exhaled after U.S. regulators stepped in to back deposits at Silicon Valley Bank (SVB) and Signature Bank (SBNY), and grew hopeful that the near meltdown of the bank...
Markets
Mar. 13, 2023

This DeFi Protocol Just Got Hacked. Its Token Is Still Doing Better than a Major US Bank's

Holders of Euler (EUL), a low-cap crypto token that lost half its value on Monday after its protocol was hacked, have learned a valuable lesson: No matter how bad things get, somebody has always got it worse. Enter First Bank, a nearly 40-year-o...
Markets
Mar. 13, 2023

Crypto Fund Outflows Hit Record Weekly Level

Digital asset investment product outflows reached a record weekly level, according to a report by CoinShares. The digital asset investment firm said that outflows increased for a fifth, consecutive week and totaled $255 million, representing 1% ...
Markets
Mar. 13, 2023

Bitcoin Surges 18% as $300M in Derivatives Positions Liquidated

Bitcoin, the world’s largest cryptocurrency by market capitalization, surged 18% over the past 24-hours even as fallout from the implosion of Silicon Valley Bank widened. Bitcoin, which was recently trading above $24,200, registered its largest ...
Markets
Mar. 13, 2023

Filecoin's FIL Token Gains 18% Ahead of FVM Deployment

Filecoin’s native token FIL is rallying in the lead up to a network upgrade that would make the storage network programmable. FIL reached a high of $6.20 on Monday, gaining 18%, according to CoinDesk data. This also puts the token up 15% on the ...
Markets
Mar. 13, 2023

MicroStrategy and Marathon Digital Lead Tenuous Bounce for Crypto-Related Stocks

Crypto-related stocks are mostly posting modest gains alongside the price of bitcoin in premarket action on Monday following government moves on Sunday to stem what could have been shaping up as a banking crisis. The price of bitcoin ( BTC ) had...
Markets
Mar. 13, 2023

First Mover Americas: Bitcoin Gains as FDIC Steps In for Silicon Valley Bank

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 Market Index (CMI): ...
Markets
Mar. 13, 2023

Bitcoin, U.S. Stock Futures Erase Early Gains as First Republic Bank Tanks 50% in Pre-Market Trading

Risk assets erased early gains during the European hours as shares in San Francisco-based First Republic bank nosedived in pre-market trading, reflecting continued investor angst over the banking sector's health. Bitcoin pulled back to $22,000,...
Markets
Mar. 13, 2023

Silicon Valley Bank Crisis a 'Cyprus Moment' for Bitcoin: Crypto Observers

The collapse of Silicon Valley Bank (SVB) is a blessing for bitcoin (BTC), crypto observers said, drawing parallels with the 2013 Crypus crisis that underscored flaws in the fractional reserve system and brought attention to decentralized, cens...
Markets
Mar. 13, 2023

Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens

Crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market. The transaction from Binance’s industry fund to BUSD took 5 seconds and c...
Markets
Mar. 13, 2023

USDC Trading Dominates Record Day for DeFi Exchanges Uniswap, Curve

Decentralized exchanges (DEX) Uniswap and Curve recorded lifetime high trading volumes over the weekend as traders rushed to exchange token holdings, specifically USD Coin (USDC). Uniswap processed nearly $12 billion in trading volume over a 24-...
Markets
Mar. 13, 2023

Bitcoin, Ether Retrace Weekend Losses As Bears See $183M in Short Liquidations

Bitcoin (BTC) and ether (ETH) surged 10% in the past 24 hours to retrace all weekend losses after crypto markets plunged following troubles at Silicon Valley Bank (SVB) on Friday night. Bitcoin inched just over $22,500 in Asian morning hours o...
Markets
Mar. 13, 2023

First Mover Asia: Silicon Valley Bank Failure Highlights Small Banks’ Vulnerability; Bitcoin Soars Past $22.5K

Good morning. Here’s what’s happening: Prices: Bitcoin surged above $22.5K after Federal regulators said they'd cover failed SIVB's customer deposits; ether and other altcoins also revive Insights: Lurking behind Silicon Valley Bank fail...
Markets
Mar. 12, 2023

USDC Volatility Lifts Bitcoin's Coinbase Premium to 3-Year High

The crisis at Silicon Valley Bank and the resulting volatility in the world's second-largest dollar-pegged stablecoin, USD Coin ( USDC ), has bitcoin ( BTC ) trading at relatively higher prices on crypto exchange Coinbase (COIN). Data tracked ...
Markets
Mar. 11, 2023

Bitcoin Regains $20K After $200M in Crypto Liquidations; Some Traders Brush Off USDC Fears

Bitcoin and ether rose as much as 4% in the past 24 hours after a steep fall on Friday as contagion risks from the collapse of Silicon Valley Bank spread to crypto markets, specifically the exposure of USD Coin-issuer Circle to the bank. Ether (...
Markets
Mar. 11, 2023

Traders Bet on USD Coin Rebound as USDC Falls to 90 Cents

USD Coin (USDC) fell under 90 cents on Saturday amid little respite for the token’s recovery as traders likely fled to other stablecoins to protect capital. USDC traded at 87 cents in Asian morning hours, reaching lifetime lows. It has since re...
Markets
Mar. 11, 2023

DAI Depegs as Stablecoin Rout Plagues Crypto

As the market continues to digest the impact of the sudden collapse of tech-focused Silicon Valley Bank , days after Silvergate went into voluntary liquidation , algorithmic stablecoin DAI has been knocked off its peg and has hit an all-time l...
Markets
Mar. 11, 2023

USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses

The cryptocurrency crisis went into high gear early Saturday as Silicon Valley Bank's (SVB) failure caused some of the industry's core plumbing to go haywire. Stablecoin prices wildly swung and gas fees soared as investors scrambled to move ...
Markets
Mar. 11, 2023

Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank's Shutdown

Circle Internet Financial’s USDC stablecoin saw some $1 billion in net redemptions since Friday morning when Silicon Valley Bank (SVB), one of Circle’s banking partners, was shut down by regulators, blockchain transactions from crypto intellige...
Markets
Mar. 11, 2023

USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal

Circle Internet Financial’s USDC stablecoin, which is the second-largest stablecoin at $42 billion of market cap, depegged from the U.S. dollar as contagion from the collapse of Silicon Valley Bank spreads. The USDC/USDT trading pair dropped as ...
Markets
Mar. 10, 2023

Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank

U.S.-based stablecoin issuer Circle held a part of its USDC stablecoin’s cash reserves at Silicon Valley Bank of Jan. 17, according to the firm's latest attestation . USDC is the second-largest stablecoin on the market with a $43 billion ci...
Markets
Mar. 10, 2023

Signature Bank Stock Down 12% in Volatile Action as Bank Selloff Continues

Signature Bank (SBNY) shares fell as much as 30% in early trading on Friday as the reverberations of the Silvergate (SI) collapse spread throughout the banking sector. The action is volatile in today's session, with SBNY quickly bouncing from pl...
Markets
Mar. 10, 2023

On-Chain Liquidations Beckon as Ether Slumps to 2-Month Low

Several on-chain positions are at risk of being liquidated following ether's plunge to a two-month low of $1,373. A $9.2 million position on MakerDAO will get liquidated at $1,367, while a $29.6 million position on decentralized finance (DeFi) l...
Markets
Mar. 10, 2023

First Mover Americas: Bitcoin Battered as Markets Spiral

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 Market Index (CMI): ...
Markets
Mar. 10, 2023

Silicon Valley Bank Rocks Crypto and Equity Markets Ahead of Nonfarm Payrolls

Risk aversion is in full swing, thanks to a crisis at Silicon Valley Bank (SIVB), a pivotal lender to tech startups. On Thursday, the self-described financial partner of the innovation economy sold off a $21 billion bond portfolio for a consider...
Markets
Mar. 10, 2023

Ether Hits Two-Month Low Under $1.4K as Coinbase Premium Index Dwindles

Ether ( ETH ), the native token of Ethereum's blockchain, slipped to a two-month early Friday as regulatory uncertainty and problems at a key lender for tech firms, zapped investors' risk appetite. Per one observer, the selling pressure for ethe...
Markets
Mar. 10, 2023

Justin Sun Moving Stablecoins After Promising to Create Huobi Liquidity Fund

Justin Sun is moving $60 million in USDT from one of his Ethereum wallets, after he promised to create a $100 million liquidity fund for Huobi in response to an extreme drop and then rebound in the HT token late Thursday U.S. time. Justin Sun h...
Markets
Mar. 10, 2023

First Mover Asia: Bitcoin Plunges to Mid-January Levels

Good morning. Here’s what’s happening: Prices: Bitcoin's fall below below $20K took the largest crypto by market cap to mid January levels. Insights: Silvergate Bank's implosion and other events have shaken crypto markets, but investors o...
Markets
Mar. 10, 2023

Bitcoin Falls Below $20K as 2023 Rally Reverses

The price of bitcoin (BTC) has fallen below the $20,000 level for the first time since mid-January as a wave of bearish news has overwhelmed crypto's strong 2023 uptrend. The largest cryptocurrency by market capitalization quickly regained some ...
Markets
Mar. 09, 2023

Crypto Traders Suffer Over $300M of Losses in Liquidations Amid Market Crash

Crypto traders endured some $307 million of liquidations in the past 24 hours, data from Coinglass shows, as crypto markets tanked Thursday on news about crypto-friendly bank Silvergate Capital (SI) winding down operations . Traders on Bin...
Markets
Mar. 09, 2023

Bitcoin Dips Below $21K to Reach Lowest Level In 7 Weeks as Silvergate Bank Shutdown Shakes Investors

Bitcoin (BTC) dropped about 6% in the past 24 hours to sink below $21,000 for the first time in seven weeks as investors continued to fret about the fallout from crypto-friendly bank Silvergate Bank’s implosion. On Wednesday Silvergate Capital (...
Markets
Mar. 09, 2023

Gaming Protocol Aavegotchi Members Are Voting to End Multiyear Token Sale, Which Could Limit GHST Supply

Community members of the crypto collectibles game Aavegotchi are voting on whether to end a roughly two-and-a-half-year contract sale of its native GHST token, a move that, if successful, would prevent the token’s supply from increasing further a...
Markets
Mar. 09, 2023

Securities Platform DEFYCA to Release Tokenized Private Debt Protocol on Avalanche

Luxembourg-based digital securities platform DEFYCA will release its tokenized private credit protocol on the Avalanche blockchain’s testnet this month, aiming for a mainnet launch in late July, the firm told CoinDesk. DEFYCA says that it is t...
Markets
Mar. 09, 2023

First Mover Americas: Silvergate Shutters in Latest Blow 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 Market Index (CMI): ...
Markets
Mar. 09, 2023

Shares of Grayscale Bitcoin Trust Form Bullish Chart Pattern: Technical Analyst

The future looks bright for the battered Grayscale Bitcoin Trust shares (GBTC), a technical analyst told CoinDesk, pointing to an inverse or reverse head-and-shoulders pattern on GBTC's price chart. The reverse head-and-shoulders structure is id...
Markets
Mar. 09, 2023

Kwenta DEX Lures Traders to Capture Bitcoin, Ether Returns Regardless of Direction

Tokens issued by perpetual futures-focused decentralized exchange (DEX) Kwenta Protocol have outperformed the broader crypto market in the past week as traders have moved to decentralized platforms to generate relatively risk-free returns fro...
Markets
Mar. 09, 2023

Crypto Options Market Flashes Bitcoin Warning as Silvergate Winds Down Operations

The decision by crypto-friendly bank Silvergate (SI) to wind down operations amid the worsening macroeconomic picture has fueled digital-asset investor anxiety, spurring demand for derivatives that offer protection against price slides in maj...
Markets
Mar. 09, 2023

Silvergate Collapse Dragging Down Bitcoin Volume

Bitcoin traders are taking a breather and considering their next steps as the market digests the collapse of Silvergate Bank, which culminated in its “voluntary liquidation” Wednesday U.S. time . CryptoQuant data shows that transfer volume, den...
Markets
Mar. 09, 2023

Polygon, Solana Lead Majors Slide Amid Bitcoin Weakness

Selling pressure on bitcoin (BTC) contributed to a broader market drop as tokens of some of the largest blockchains fell as much as 6% in Asian morning hours on Thursday. Bitcoin dipped under $22,000 during European hours on Wednesday, even as b...
Markets
Mar. 09, 2023

U.S. Government's $1B Bitcoin Transfer Spooks Investors, Bitcoin Dips

U.S. authorities transferred $1 billion worth of bitcoin ( BTC ) recovered from a dark web hack to new wallet addresses, including one owned by Coinbase, on Wednesday, stoking investor fears that intense sell pressures could drive down the token'...
Markets
Mar. 09, 2023

First Mover Asia: Bitcoin Hits 3-Week Low, Lingers Near $21.7K Amid Ongoing Inflation Concerns

Good morning. Here’s what’s happening: Prices: Bitcoin inched down to its lowest level in more than three weeks. It regained some ground to trade at about $21.7K. Insights: Conic Finance aims to offer its users yields as high as 21% on t...
Markets
Mar. 09, 2023

Lido Finance Weighs Sunsetting Liquid Staking on Polkadot, Kusama

Decentralized finance (DeFi) protocol Lido Finance proposed sunsetting liquid staking on the Polkadot and Kusama ecosystems, according to a proposal posted to Lido’s governance forum on Tuesday. In the proposal, decentralized finance applica...
Markets
Mar. 08, 2023

Embattled Crypto Lender Celsius Allocates $25M for Withdrawals, Burns $500M in WBTC

Crypto lender Celsius Network, which is currently operating under bankruptcy protection, has established a crypto wallet with $25 million of digital assets for Celsius’ custodial account holders to withdraw, blockchain intelligence firm Arkham In...
Markets
Mar. 08, 2023

Bitcoin Climbs Above $22K as Powell Softens Tone on Day 2 of Congressional Testimony

U.S. Federal Reserve Chairman Jerome Powell "stressed" that the central bank has yet to make a decision on the size of the rate hike when the Federal Open Market Committee (FOMC) meets later in March. Testifying before the House Financial Servic...
Markets
Mar. 08, 2023

DeFi Protocol Maverick Unveils UniSwap Rival Decentralized Exchange on Ethereum

Decentralized finance (DeFi) platform Maverick Protocol has unveiled its decentralized exchange ( DEX ) on Ethereum , the protocol’s developer team told CoinDesk Wednesday. The protocol is powered by a native smart-contract-based, automated m...
Markets
Mar. 08, 2023

First Mover Americas: Bitcoin Belted by Rate Fears

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 Market Index (CMI): ...
Markets
Mar. 08, 2023

Binance Extends Market Share for Fourth Consecutive Month

Binance, the world’s largest crypto exchange by trading volume, has extended its spot market share across crypto exchanges for a fourth consecutive month. The exchange market share increased from 59.4% in January to 61.8% in February, according ...
Markets
Mar. 08, 2023

Bitcoin Slips to 3-Week Low as Market Sees Federal Reserve Lifting Rates to 5.65%

Bitcoin fell to a three-week low Wednesday as U.S. Federal Reserve Chairman Jerome Powell's hawkish testimony to Congress spurred traders to price in a higher "terminal rate." The leading cryptocurrency by market value fell to $21,871 during A...
Markets
Mar. 08, 2023

Curve Yield Farmers Rush to Deploy $60M on Newly Launched Conic Finance, Capture 21% APY on USD Coin

A new tool to capture yields from prominent stablecoin swapping service Curve has attracted over $60 million from depositors just over a week after launch. Conic Finance, which went live Mar. 1, allows users to deposit tokens into its omnipools,...
Markets
Mar. 08, 2023

First Mover Asia: Bitcoin, Ether Bounce Back After Being Tested by Fed Chair Powell’s Comments

Good morning. Here’s what’s happening: Prices: In prepared comments before the U.S. Senate's Banking Committee, Fed Chair Jerome Powell said that inflation remained problematic. Bitcoin tumbled initially but later recovered. Insights: Cry...
Markets
Mar. 07, 2023

Bitcoin Rebounds Above $22K, Equities Struggle After Fed Chair Powell Says Rates Are ‘Likely to Be Higher’

Bitcoin dropped below $22,000 after U.S. Federal Reserve Chair Jerome Powell said in prepared remarks in his two-day semiannual monetary policy testimony before Congress that inflation had remained unexpectedly high. But the largest cryptocurre...
Markets
Mar. 07, 2023

GBTC Discount Narrows to Lowest Level Since November Following Court Hearing

The Grayscale Bitcoin Trust (GBTC) discount to net asset value (NAV) has narrowed to below 35%, its lowest point since Nov. 7, according to data from TradingView, following what seemed a favorable court hearing on Tuesday for the company. The ...
Markets
Mar. 07, 2023

Bitcoin Price Slides to $22K as Powell Warns on Inflation

Inflationary pressures are running higher than expected, said Federal Reserve Chairman Jerome Powell in prepared remarks to the U.S. Senate as he presents the central bank's Semiannual Monetary Policy Report. "The data from January on employme...
Markets
Mar. 07, 2023

First Mover Americas: Grayscale Bitcoin Trust at Issue in Court

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 ...
Markets
Mar. 07, 2023

Crypto Observers Look to Treasury Yields for Cues as Bitcoin Remains Comatose

Bitcoin (BTC) has been trading dead flat since falling by 5% early Friday. Analysts now look to Treasuries, or the U.S. government bonds, for fresh directional cues. The leading cryptocurrency by market value fell from $23,400 to $22,000 on Frid...
Markets
Mar. 07, 2023

FLEX Token Rises 21% After CoinFLEX Restructuring Plan Approved

FLEX, the native token of the CoinFLEX exchange, has jumped 21% after the company received approval for a restructuring plan by the Seychelles courts. CoinFLEX filed for restructuring last August after it suspended withdrawals amid a liquidi...
Markets
Mar. 07, 2023

DeFi Protocol Tender.fi's TND Token Plunges 34% as Protocol Pauses Borrowing

TND, the native token of decentralized finance (DeFi) protocol Tender.fi , has slumped by 34% after the platform said it is paused borrowing on Tuesday. The token, which trades mostly on decentralized exchange Uniswap, is changing hands at $1.9...
Markets
Mar. 07, 2023

Ether Call Options Look Attractive Relative to Bitcoin as Volatility Spread Dwindles

Trading cryptocurrencies is quite challenging right now, as the market is caught between opposing forces of issues at crypto-friendly bank Silvergate, operational bottlenecks at major exchanges and optimism about Ethereum's impending Shang...
Markets
Mar. 07, 2023

First Mover Asia: Filecoin Struggles Amid China Exposure, Cost of Subsidy Concerns

Good morning. Here’s what’s happening: Prices: Crypto is flat as traders await U.S. central bank Chair Jerome Powell's next comments. Insights: Exposure to China and the subsidies it is receiving may be hurting Filecoin's growth. Prices...
Markets
Mar. 06, 2023

Silvergate’s Struggles Will Likely Boost Stablecoins’ Role in Crypto Trading: Kaiko

Ailing Silvergate Capital’s decision to shutter its instant settlement service SEN, which was popular among large investors, will boost the role of stablecoins and their issuers in crypto trading, market research firm Kaiko said in a repor...
Markets
Mar. 06, 2023

Bitcoin Continues Trading Sideways at $22.4K as Silvergate Concerns Mount

Bitcoin edged higher to top $22,500 early Monday before retreating slightly below that mark in the afternoon. The largest cryptocurrency by market value was recently trading above $22,400 and squarely in the narrow range it’s occupied since Thur...
Markets
Mar. 06, 2023

Tether's USDT Stablecoin Market Share Rises to Highest Level in 15 Months

The dominance of Tether’s USDT is rising among stablecoins amid an ongoing shakeup of the $136 billion stablecoin market. USDT’s market share among stablecoins surpassed 54% on Monday, data from CoinGecko shows. This is the largest market sh...
Markets
Mar. 06, 2023

GBTC Discount Narrows to 42% Ahead of Grayscale’s ETF Hearing Tuesday

The Grayscale Bitcoin Trust (GBTC) discount to net asset value (NAV) has fallen to its lowest level in a month ahead of oral arguments in Federal court on Tuesday related to Grayscale's lawsuit against the U.S. Securities and Exchange Commiss...
Markets
Mar. 06, 2023

21.co CEO Sees ‘No Material’ Impact on Bitcoin Following Silvergate’s SEN Platform Closure

Silvergate Bank’s (SI) woes, including the shutdown of its crypto lending platform, SEN, aren’t necessarily moving the price of bitcoin (BTC), Hany Rashwan, CEO of cryptocurrency company 21.co , said. Rather, he attributed recent price levels to...
Markets
Mar. 06, 2023

First Mover Americas: Bitcoin Flat as Crypto Winter Deepens

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 ...
Markets
Mar. 06, 2023

Does Bitcoin's Weekly Death Cross Pattern Call for Caution?

An ominous-sounding technical pattern has appeared on bitcoin's (BTC) weekly price chart for the first time on record. Analysts, however, are split on what it means for cryptocurrency. Bitcoin's 50-week simple moving average (SMA) has crossed un...
Markets
Mar. 06, 2023

Crypto Exchange Bybit Suspends USD Deposits

Crypto exchange Bybit on Saturday announced a suspension of U.S. dollar (USD) deposits for national and international customers. "We have temporarily suspended USD deposits via Wire Transfer (including SWIFT) due to service outages from our end-...
Markets
Mar. 06, 2023

First Mover Asia: Bitcoin Is Stuck Between Silvergate and China

Good morning. Here’s what’s happening: Prices: Bitcoin had a flat weekend as the market continued to digest Silvergate, and also readied what will likely be positive economic data from China this week. Insights: Like any good punk or hip ...
Markets
Mar. 03, 2023

Gitcoin, a Crowdfunding Platform for Open-Source Software Votes to Seed Staked ETH Index

Community members of Gitcoin , an organization set up to fund open-source software and other “ digital public goods ” such as blockchain code, voted to seed initial liquidity for its Staked ETH Index (gtcETH). The vote comes amid growing intere...
Markets
Mar. 03, 2023

Binance USD Stablecoin Market Cap Falls Below $10B After Coinbase Delisting

Binance USD , the Paxos-issued stablecoin under the brand of the world’s largest crypto exchange by trading volume , fell to $9.5 billion market capitalization on Friday, data from CoinGecko shows. This is the first time BUSD’s circulating s...
Markets
Mar. 03, 2023

First Mover Americas: Crypto Markets Sinking on Silvergate

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 ...
Markets
Mar. 03, 2023

DeFi Protocol Yearn Finance's Token Rises 7% Despite Market Plunge

YFI, the native token of decentralized finance protocol Yearn Finance, has managed to fend off bearish market forces with a 7% upward move as investors attempt to capitalize on the upcoming roll out of liquid staking derivatives (LSD). Over the ...
Markets
Mar. 03, 2023

Bitcoin-Bridged to Avalanche Reaches Record Daily Mint of Over 2K BTC

Interest in bridging bitcoin (BTC) to the Avalanche smart contract blockchain (BTC.b) continues to swell as the supply of wrapped bitcoin (wBTC), the largest wrapped version of bitcoin on Ethereum, dwindles. On Thursday, over 2,000 BTC ($44 mill...
Markets
Mar. 03, 2023

Bitcoin Bears May Still Be a Bit Early, Though Caution Urged: Matrixport

Matrixport, a crypto exchange and lending platform, said it has been bullish on digital assets since mid-December, but signals from the U.S. economy are now forcing it to be more cautious. In a research report published early Friday, the firm sa...
Markets
Mar. 03, 2023

Bitcoin Long Liquidations Hit Highest Level Since August

Bitcoin's (BTC) early Friday slide, triggered by concerns about crypto-friendly bank Silvergate (SI), shook out bullish leverage from the futures market. Exchanges liquidated longs or bullish bitcoin futures worth over $62 million during the Asi...
Markets
Mar. 03, 2023

Bitcoin, Ether Drop Over 5% in Massive Sell-Off as Market Continues to Digest Silvergate

Major digital assets took a plunge in the early hours of the business day Hong Kong time. Bitcoin and Ether both dropped over 5% as major crypto firms continue to distance themselves from Silvergate . During the U.S. trading day, Silvergate’s ...
Markets
Mar. 03, 2023

First Mover Asia: Bitcoin Continues to Look East for Strength

Good morning. Here’s what’s happening: Prices: A busy economic week in China with plenty of data releases scheduled might be what it takes to get bitcoin out of its slump. Insights: On-chain indicators show that bitcoin’s (BTC) current pr...
Markets
Mar. 02, 2023

Ethereum’s Shanghai Upgrade Will Not Crash Ether Price, Analysts Say

Ethereum’s Shanghai upgrade , which will allow withdrawals for some $29 billion of staked ether (ETH) previously locked starting next month, is unlikely to cause major selling pressure and crash ETH’s price, crypto analysts told CoinDesk. The...
Markets
Mar. 02, 2023

Bitcoin Price Holds Steady Above $23K as Silvergate Capital Crumbles

Bitcoin ( BTC ) wobbled a bit early Thursday as crypto-friendly bank Silvergate Capital (SI) shed more than 50% of its value on worries it may not survive, but turned upward in afternoon trading and is now higher by 0.4% over the past 24 hours at...
Markets
Mar. 02, 2023

Silvergate Stock Tumbles 45% After 'Going Concern' Filing

Crypto-friendly lender Silvergate Capital (SI) plunged 45% in early on Thursday on questions about its survival due to losses and numerous regulatory issues that have arisen following last November's FTX collapse. In volatile action in the minut...
Markets
Mar. 02, 2023

First Mover Americas: Bitcoin Falls to Below $23.5K

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 ...
Markets
Mar. 02, 2023

Xmon Tokens Fall 80% After End of SudoSwap Lock Drop Program

Xmon (XMON) tokens fell nearly 80% in the past 24 hours following the end of a lock drop program on NFT marketplace SudoSwap. The tokens exchanged hands at nearly $4,000 at writing time on Thursday, falling from Wednesday’s $24,000 level, CoinG...
Markets
Mar. 02, 2023

First Mover Asia: ConsenSys Chief Cryptoeconomist Sees Little Drama Ahead for Bitcoin

Good morning. Here’s what’s happening: Prices: Bitcoin has been trading in the low $20,000s for weeks. ConsenSys Chief Cryptoeconomist Lex Sokolin doesn't see crypto prices shifting much in the near future. Insights: Tron founder Justin ...
Markets
Mar. 02, 2023

Bitcoin Holds Strong Over $23.6K to Continue Recent Consolidation

Bitcoin edged toward $24,000 early Wednesday, dropped, but then rebounded to hold strong above $23,600. The largest cryptocurrency by market capitalization was recently trading at about $23,663, up 2.3% over the past 24 hours. Bitcoin ( BTC )’s...
Markets
Mar. 01, 2023

Digital Asset Investment Products’ AUM in February Reaches Highest Level Since May 2022

Digital asset investment products’ assets under management (AUM) in February reached their highest level since May 2022, according to a report by data provider CryptoCompare, released Wednesday. The AUM for digital asset investment products rose...
Markets
Mar. 01, 2023

Open Source Protocol Ren Token Surges 18% Amid Rising Interest in Multichain Projects

REN , the native token of the Ren protocol , has climbed 18% over the past 24-hours. The surge comes amid rising interest in multichain projects. It also seems to reflect rising interest in the protocol, which allows users to move digital asse...
Markets
Mar. 01, 2023

First Mover Americas: Stacks' Token Starts March With a Bang

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 ...
Markets
Mar. 01, 2023

Ether Supply Impact From the Shanghai Upgrade Is Limited: Bernstein

Ether’s ( ETH ) price action is expected to be “cautious” until the Ethereum blockchain’s Shanghai upgrade, due later this month, as the market is concerned about a supply overhang, Bernstein said in a research report Wednesday. The Shanghai Fo...
Markets
Mar. 01, 2023

Mt. Gox Bankruptcy Repayments Unlikely to Destabilize Bitcoin: UBS

Creditors of crypto exchange Mt. Gox are about to recover some of their funds following a 10-year liquidation process, but concerns that large amounts of bitcoin (BTC) will be released onto the market are overdone, UBS (UBS) said in a report Mond...
Markets
Mar. 01, 2023

Bitcoin Jumps 4% as Upbeat China Manufacturing Data Improves Risk Appetite

Bitcoin ( BTC ) traded higher on Wednesday as upbeat China manufacturing data alleviated global growth concerns and improved risk appetite in global financial markets. China's official manufacturing Purchasing Managers' Index rose to 52.6 in F...
Markets
Mar. 01, 2023

Crypto Options Exchange Deribit To Offer Bitcoin Volatility Futures

Deribit, the world's largest crypto options exchange by volumes, will soon launch bitcoin (BTC) volatility futures, offering digital asset investors a simpler way than options to hedge against market volatility. Futures tied to Deribit's forward...
Markets
Mar. 01, 2023

Crypto Market February Roundup: Bitcoin Layer 2 Protocol Stacks, Ethereum Staking Derivative Tokens Surge

January euphoria in crypto markets turned to February worry as investors sent prices of most, major digital assets down. The retreat coincided with a cascade of concerning inflation and jobs data, starting with a lukewarm Consumer Price Index (C...
Markets
Mar. 01, 2023

First Mover Asia: NFTs Have a ‘Digital First Sale’ Problem

Good morning. Here’s what’s happening: Prices: Crypto is once again becoming the domain of short sellers. Insights: Interpretations of copyright law around the principle of digital-first sales are stuck in the Napster era, and haven't cau...
Markets
Feb. 28, 2023

Crypto’s Next Move Depends on the Next Fed Rate Hike: Options Trader

The direction the price of bitcoin and other cryptocurrencies takes likely depends on whether the U.S. Federal Reserve takes a more hawkish approach to raising interest rates as it battles inflation, Imran Lakha, the founder of Options Insights, ...
Markets
Feb. 28, 2023

Bitcoin Risks Deeper Pullback Toward $20K: Chart Analysts

Bitcoin's (BTC) recent technical failure at key price resistance has raised the risk of a deeper pullback, according to analysts studying price charts. The leading cryptocurrency's upswing has recently stalled, with prices failing to crack resis...
Markets
Feb. 28, 2023

First Mover Americas: Liquity's Token Leaps on Binance Listing

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 ...
Markets
Feb. 28, 2023

2023 Will Be The Year of Crypto Token Price Divergence: Bank of America

The cryptocurrency market is off to a much better start this year than most had expected with the token universe up 42% year-to-date to $1.1 trillion, Bank of America (BAC) said in a report on Friday. “We expect 2023 to be the year of token pric...
Markets
Feb. 28, 2023

Crypto Traders Worried About Continued Liquidity Thinning in Bitcoin and Ether

Liquidity conditions in the bitcoin (BTC) and ether (ETH) markets continue to worsen and the situation is now more alarming than it was three months ago. That has traders worried about abrupt price swings in the crypto market. Liquidity refers...
Markets
Feb. 28, 2023

First Mover Asia: Bitcoin Stays Rooted Near $23.5K

Good morning. Here’s what’s happening: Prices: Bitcoin stays rooted near the $23.5K threshold. Ether and many other major cryptos trade flat. Insights: China-based developers can interact with layer 1 blockchain Conflux, but the protocol'...
Markets
Feb. 28, 2023

Crypto Broker Voyager Digital Sends $121M in Crypto to Exchanges, Sells Ether, Shiba Inu Holdings

Embattled crypto broker platform Voyager Digital has been selling off its cryptocurrency holdings at a fast rate, blockchain intelligence firm Arkham Intelligence tweeted . Blockchain transaction data by Arkham shows that Voyager transferred at...
Markets
Feb. 27, 2023

Optimism DEX Velodrome Generates Record Weekly Fees Following Coinbase Announcement

Velodrome, the largest trading and liquidity marketplace on layer two scaling solution Optimism, recorded its highest all-time weekly fees of more than $101,460 starting on Feb. 23. With three days left in the week, Velodrome is on pace to gen...
Markets
Feb. 27, 2023

Coinbase Trade Volume Surpasses Uniswap’s, Countering Expectations for a DEX Surge

Cryptocurrency exchange Coinbase’s trading volume has surpassed the popular decentralized exchange platform Uniswap’s this year, according to a report from crypto data firm Kaiko. As of Friday, trading volumes for Coinbase had reached more than ...
Markets
Feb. 27, 2023

TrueUSD Becomes 5th-Largest Stablecoin as Binance Mints $130M TUSD in a Week

Driven by an increasing role on crypto exchange giant Binance, the trueUSD (TUSD) stablecoin has become the fifth-largest stablecoin by market capitalization. Blockchain data by crypto intelligence firm Nansen shows that Binance, the world’s ...
Markets
Feb. 27, 2023

DeFi Giant MakerDAO Rejects $100M Loan to Cogent Bank

The MakerDAO community rebuffed state-chartered Cogent Bank’s proposal to borrow $100 million from the decentralized lending platform Maker, the protocol’s governance site showed on Monday. Some 73% of the voters rejected the plan. MakerDAO i...
Markets
Feb. 27, 2023

STX Perpetual Futures Open Interest Doubles to $80M as Traders Take Shorts

Bitcoin layer 2 Stack Network's STX token on Monday rose to a fresh nine-month high of $0.97, bringing its month-to-date gain to 220%. The Ordinals-driven rally, however, failed to impress derivatives traders. Data from Coinglass shows tha...
Markets
Feb. 27, 2023

First Mover Americas: Betting Against Bitcoin Was Popular Move Last 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 ...
Markets
Feb. 27, 2023

Cryptocurrencies Resilient Despite Weaker Equity Markets, Increased Regulatory Activity: Citi

Cryptocurrency markets have remained resilient despite stocks' weakness over the past week and increased regulatory activity in the U.S., Citi (C) said in a research report Friday. “Correlations with equities have continued to decline from las...
Markets
Feb. 27, 2023

Allure of Bitcoin Ordinals, DeFi Drives Crypto Funds to Bitcoin Layer 2-Token Stacks

Prominent crypto investment funds are turning to tokens of the Stacks Network as they bet on the growth of Bitcoin. Stacks is a so-called layer 2 companion chain for smart contracts focused on bitcoin (BTC), the largest cryptocurrency by market c...
Markets
Feb. 27, 2023

Short-Bitcoin Funds Record $10M in Weekly Inflows: CoinShares

Investors poured money into short bitcoin funds last week as upbeat U.S. economic data and the prospect of renewed outsized rate increases by the Federal Reserve (Fed) weakened risk appetite in financial markets. Short-bitcoin funds had inflo...
Markets
Feb. 27, 2023

Shiba Inu Investor Transfers Tokens to Exchanges, Possibly Foreshadowing Price Drop

A crypto wallet holding a large amount of shiba inu (SHIB) tokens is moving funds to exchanges, with historical data suggesting a decline in prices in the short term if the holder were to sell the tokens. Wallet 0xd6 moved over 182 billion shi...
Markets
Feb. 27, 2023

Liquid Staking Replaces DeFi Lending as Second-Largest Crypto Sector

Liquid staking, which allows users to earn rewards for locking cryptocurrency in a blockchain network while retaining the liquidity of the locked funds, is now bigger than decentralized lending and borrowing . The total value of crypto assets d...
Markets
Feb. 27, 2023

Start of the End? Testnet Goerli Ether Spikes to $1.60 as Traders Jump on Opportunity Meant for Developers

Prices of Goerli ether (gETH) spiked to over $1.60 over the weekend, rising from 7 cents last Friday and reaching a market capitalization of as much as $15 million. Data from DEXTools shows that nearly a million dollars worth of gETH was trade...
Markets
Feb. 27, 2023

First Mover Asia: Solana in the Green After Weekend Deep Freeze

Good morning. Here’s what’s happening: Prices: Solana is back and ticking upwards while bitcoin appears overbought. Insights: The SEC has overreached in its latest actions against crypto entities, but the crypto industry must improve its ...
Markets
Feb. 24, 2023

Token Offering of Asset Management Platform Factor Raises Roughly $7.6M

Factor, an on-chain asset management platform based on Arbitrum, raised roughly $7.6 million from over 4,000 unique wallets in its token offering that started Feb. 20 and ended Friday. Now that the public sale has ended, users will be able to cl...
Markets
Feb. 24, 2023

Bitcoin Price Falls Back Towards Week's Low on Inflation Worry

The odds of the U.S. Federal Reserve hiking its benchmark fed funds rate 50 basis points in March are on the rise after the PCE Price Index showed the disinflation trend reversed in January. The PCE Price Index for January rose 5.4% from a year ...
Markets
Feb. 24, 2023

BNB Chain’s Second-Largest DeFi Protocol Venus to Accept Floki Tokens as Lending Collateral

Tokens of Shiba Inu-themed Floki can soon be used as collateral to borrow a basket of cryptocurrencies on Venus Protocol, the second-largest lending protocol on the BNB chain, Floki developers today told CoinDesk. The move is part of a broader p...
Markets
Feb. 24, 2023

First Mover Americas: Coinbase's New Layer 2 Network Off to Shaky Start

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 ...
Markets
Feb. 24, 2023

Bitcoin Futures on CME Outpace Those on Binance to Trade at Widest Premium Since November 2021

Yes, you read the headline right. Bitcoin (BTC) futures really are, unusually, trading at a higher premium on the Chicago Mercantile Exchange (CME) than on Binance. Three-month bitcoin futures listed on CME, widely considered a proxy for insti...
Markets
Feb. 24, 2023

YFI Sets Six-Month High as Yearn Finance Teases Ether Liquid Staking Product

Yearn Finance’s native YFI token surged as much as 39% in the week through Friday and trading volume soared almost five-fold as developers said they will soon introduce a product that allows users to gain exposure to a basket of liquid staking de...
Markets
Feb. 24, 2023

Tokens of Optimism Ecosystem Surge as Coinbase Unveils Its Layer 2 Base

Nasdaq-listed centralized digital assets exchange Coinbase (COIN) on Thursday announced an Ethereum scaling product that will leverage layer 2 network Optimism's technology. The news seems to have lit a fire under the cryptocurrencies from the ...
Markets
Feb. 24, 2023

Unrelated BASE Token Jumped 250% After Coinbase Starts Layer 2 Network Base

Expect crypto punters to jump on anything with a distant relation to a trending topic to turn profits – as illogical as that may be to a seasoned equity investor. Base Protocol’s BASE tokens jumped, then dumped, in the past 24 hours following an...
Markets
Feb. 24, 2023

First Mover Asia: Resilient Bitcoin Rebounds Above $24K Despite Investors' Inflation, Labor Market Concerns

Good morning. Here’s what’s happening: Prices: Bitcoin tossed and turned above and below $24K before settling over the threshold. Insights: Bitcoin funding rates have been positive for 10 consecutive days. Why should investors care? Pri...
Markets
Feb. 23, 2023

Bitcoin Hovers Near $24K as Investors Mull Economic Uncertainties

Bitcoin dipped early Thursday but regained its footing near $24,000 as investors continued to weigh the minutes from the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) meeting earlier this month and the latest economic data. The lar...
Markets
Feb. 23, 2023

Optimism Token Surges 6.5% as Coinbase Builds Its Layer 2 on the Protocol

The optimism token (OP) surged by 6.5% after Coinbase (COIN) said it is building its layer 2 blockchain using the OP Stack in collaboration with Optimism. OP is the native token of the Optimism protocol, a layer 2 scaling solution for Ethereum t...
Markets
Feb. 23, 2023

First Mover Americas: Cathie Wood Doubles Down on Coinbase

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 ...
Markets
Feb. 23, 2023

Binance Closed Derivative Positions of Some Australian Users, Will Compensate Them for Losses

Binance said on Thursday that it had incorrectly tagged some Australian users as "wholesale investors", resulting in their derivative positions being unceremoniously closed. Documents show Binance Australia has historically not allowed retail ...
Markets
Feb. 23, 2023

Solana Blockchain Well Positioned to Reassert Itself as a Genuine Layer 1 Competitor: Coinbase

Solana was not immune to the fallout in crypto markets in 2022 and the collapse of FTX had an inordinate impact on the blockchain’s ecosystem in terms of market sentiment given the network’s historical relationship with the now-defunct exchange...
Markets
Feb. 23, 2023

Bitcoin Stuck in Bearish Elliott Wave Pattern Despite 47% Rally, QCP Capital Says

Bitcoin's (BTC) resurgence this year has convinced many analysts the crypto bear market has ended and the path of least resistance is to the higher side. QCP Capital suggests otherwise. According to the Singapore-based crypto options trading g...
Markets
Feb. 23, 2023

First Mover Asia: Bitcoin Seesaws Above $24.1K Following Mixed FOMC Minutes

Good morning. Here’s what’s happening: Prices: Bitcoin dropped near $23,600 following the release of less than encouraging minutes from the FOMC January meeting but rebounded along with other major cryptos later in the day. Insights: Hun...
Markets
Feb. 22, 2023

Frax Finance Votes to Fully Collateralize Its $1 Billion Stablecoin

The community of Frax Finance, a decentralized finance protocol with some $2 billion in total value locked, voted to fully collateralize the protocol’s native stablecoin frax (FRX), according to a vote concluded Wednesday. The proposal FIP-18...
Markets
Feb. 22, 2023

Bitcoin Volatility Holds Steady as the VIX and MOVE Spike

The bitcoin ( BTC ) market is showing an uncanny resilience in the face of renewed investor anxiety on Wall Street. Data from CryptoCompare shows the Bitcoin Volatility Index (BVIN), which measures the implied or expected volatility over the n...
Markets
Feb. 22, 2023

First Mover Americas: Google Cloud Joins Tezos

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 ...
Markets
Feb. 22, 2023

Klaytn Foundation Proposes Burning 5.28B KLAY Tokens, Cutting Token Supply by Nearly 50%

Klaytn Foundation, one of the key developer and code maintainers of the Klaytn blockchain, has submitted a tokenomics optimization proposal to its Governance Council (GC) to help Klaytn develop into a sustainable decentralized network. The propo...
Markets
Feb. 22, 2023

First Mover Asia: Deconstructing Crypto's China Narrative

Good morning. Here’s what’s happening: Prices: Bitcoin can't seem to break past the $25K mark. But when it does, $30K is the next important milestone. Here's why. Insights: Some of crypto's China narrative is old, some of it is new. Is the...
Markets
Feb. 21, 2023

Filecoin, Storj Tokens Outperform Bitcoin Amid Increased Use of Decentralized Storage Protocols

The native tokens of shared storage protocols have soared over the past week, with an analyst attributing the surge to the platforms' increased usage. Decentralized storage network Filecoin’s native utility FIL has been among the top performer...
Markets
Feb. 21, 2023

Crypto Analysts Scramble to Explain Bitcoin's Pause Near $25K

Bitcoin's (BTC) upswing has come to a screeching halt at a price level that proved to be a tough nut to crack last year. The leading cryptocurrency picked up a strong bid at the start of the year and has gained nearly 50% since then, outperformi...
Markets
Feb. 21, 2023

First Mover Americas: BNB-Bitcoin Ratio Falls to Lowest Level Since August

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 ...
Markets
Feb. 21, 2023

BNB-Bitcoin Ratio Drops to Lowest Level in Six Months On Paxos-BUSD Drama

BNB, the native token of the Binance-initiated blockchain network BNB Chain, is losing ground against bitcoin (BTC) in the wake of regulatory action against Binance-branded dollar-pegged stablecoin BUSD. The BNB/BTC ratio listed on Binance, the ...
Markets
Feb. 21, 2023

Arbitrum-Based Factor Raises $4M on First Day of Token Offering

The much-hyped launch of decentralized asset management platform Factor on Arbitrum’s Camelot launchpad has attracted over $4.3 million from traders in less than 12 hours after going live – with some expressing caution. Factor, which is offering...
Markets
Feb. 21, 2023

First Mover Asia: Bitcoin Edges Toward $25K During Slow Economic Day

Good morning. Here’s what’s happening: Prices: Bitcoin is starting the day in Asia at $24,815. What's going to drive it higher? Insights: A report by a Canadian judge considered the government's use of the Emergencies Act to quell a "Free...
Markets
Feb. 20, 2023

Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BIS

While most crypto app users worldwide lost money on their bitcoin holdings after last year's collapses of the Terra ecosystem and the FTX exchange, investors outside of major economies took the biggest hit, the Bank for International Settlements ...
Markets
Feb. 20, 2023

First Mover Americas: Bitcoin ‘Ordinals’ Boom Prompts NFT Activity Surge

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 ...
Markets
Feb. 20, 2023

Bitcoin Layer 2 Stacks Network's STX Token Spikes 50% as 'Ordinals' Boom

STX, the native token of Bitcoin layer 2 Stacks Network, is surging as the recent arrival of the Ordinals protocol has unleashed a new narrative of non-fungible tokens (NFTs) and smart contracts on the Bitcoin blockchain. Stacks Network is a B...
Markets
Feb. 20, 2023

ARK Invest's Coinbase Purchase During Week of Feb 13-17 Totaled 133,321 Shares

Feb. 13: ARKK Buy COIN 102,281 Feb. 13: ARKW Buy 16,414 Feb. 14: ARKK Buy 11,778 Feb 14: ARKW Buy 2,848 Feb 15: No COIN activity, buy or sell. Feb 16: No COIN activity, buy or sell. Feb 17: No COIN activity, buy or sell. Weekly total: 133...
Markets
Feb. 20, 2023

First Mover Asia: Bitcoin Opens the Week Testing $25K

Good morning. Here’s what’s happening: Prices: Bitcoin tests $25,000, and here's what has to happen for it to break $30,00. Insights: The June arrival in Hong Kong of a framework for Virtual Asset Service Providers, such as exchanges, wil...
Markets
Feb. 18, 2023

Bitcoin Soars, Then Retreats. What’s Behind This Week’s Rollercoaster? What’s Ahead?

It’s been a wild week for bitcoin with the largest cryptocurrency by market capitalization reaching multiple six-month highs before retreating suddenly late Thursday, but then rallying again. Bitcoin ( BTC ) was recently trading over $24,557, up...
Markets
Feb. 17, 2023

Arbitrum Native Decentralized Exchange Camelot Growing Massively in February

Camelot , a relatively new decentralized exchange (DEX) on the Arbitrum network, has seen huge growth since launching at the end of 2022. Daily trading volume has jumped 369% since the first day of February, hitting $18 million on Friday at pres...
Markets
Feb. 17, 2023

First Mover Americas: SEC Suing Do Kwon for Misleading Investors

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 ...
Markets
Feb. 17, 2023

Unlike Merge, Ethereum's Shanghai Upgrade Could Bring Ether Price Volatility

The next major catalyst for the crypto market is Ethereum's Shanghai upgrade scheduled in March which will open up withdrawals of more than 16.5 million ether (ETH) staked in the blockchain. The impending upgrade comes months after the Ether...
Markets
Feb. 17, 2023

Crypto Theft Rose in 2022 as Scams, Ransomware Bounty Fell: Chainalysis

The volume of crime-related transactions rose for the second consecutive year, hitting an all-time high of $20.6 billion, blockchain analytics firm Chainalysis says in its new Crypto Crime Report . But that is a small share of total volume of th...
Markets
Feb. 17, 2023

First Mover Asia: Crypto Momentum Falters as Bitcoin Retreats to $23.6K

Good morning. Here’s what’s happening: Prices: Bitcoin shifted from flying high above $25K to sinking to $23.6K over the course of Thursday. Insights: Alameda Research ranked among the crypto industry's largest market makers. Its collaps...
Markets
Feb. 16, 2023

USP Stablecoin Loses Dollar Peg as DeFi Protocol Platypus Suffers $8.5M Attack

Decentralized finance ( DeFi ) protocol Platypus Finance suffered a flash-loan attack on Thursday, blockchain security firm CertiK tweeted . The potential loss in the exploit is $8.5 million. Platypus USD (USP), the protocol’s stablecoin, lost ...
Markets
Feb. 16, 2023

TrueFi’s TRU Token Rallies Over 200% After Binance’s TUSD Mint Sparks Speculation

TRU, the governance token of decentralized lending protocol TrueFi, surged 220% on Thursday in an hour, data by CoinMarketCap shows, in a speculative flurry over a Binance stablecoin transaction. Before the rally took off, Binance, the world's...
Markets
Feb. 16, 2023

Bitcoin Jumps Past $25K for First Time Since June 2022

Bitcoin rocketed past $25,000 for the first time since June, before quickly retreating below the threshold, according to CoinDesk data. The largest cryptocurrency by market cap was recently trading at about $24,750, up more than 8% over the past...
Markets
Feb. 16, 2023

Only 31% of Staked Ether May be Profitable: Binance Research

Analysis by Binance Research has found that a notable minority of ether holders who staked their ETH in Ethereum's Beacon Chain over the past three years are making money, while the rest are underwater. Ethereum staking involves users lock...
Markets
Feb. 16, 2023

First Mover Americas: Bitcoin Soars to Highest Level Since August

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 ...
Markets
Feb. 16, 2023

Crypto Startups Are Increasingly Postponing Token Launch Plans as Alameda Research's Contagion Effects Linger On

The crypto market is struggling with an "Alameda gap" as several projects are postponing their token launch plans because of a lack of liquidity despite surging bitcoin (BTC) and ether (ETH) prices. Data from CoinMarketCap shows that new coin ap...
Markets
Feb. 16, 2023

Market Demand Pushes Trading Volumes on DEX Level Finance to Over $1B

Trading volumes on BNB Chain-based decentralized finance exchange Level Finance have crossed over $1 billion in a little over two months since its December launch – suggesting high interest from users for such products. The platform has earned...
Markets
Feb. 16, 2023

Co-Founder of Privacy-Focused Gnosis Chain Proposes Plan to Reduce Ethereum Dependency for GNO Token

The co-founder of privacy-focussed Ethereum sidechain Gnosis, Martin Köppelmann, has proposed plans to reduce external dependencies and increase the security of GNO tokens on Ethereum and Gnosis. In a preliminary discussion on the Gnosis governa...
Markets
Feb. 16, 2023

Bitcoin Primed to Rally to $56K as Nasdaq Breaks Out of Bull Flag, Chart Analyst Says

"Based on the first law of physics, an object in motion will continue in motion until an outside force affects it," Wall Street's champion trader Martin S. (Buzzy) Schwartz wrote in his book "Pit Bull." Bitcoin (BTC) has rallied nearly 50% in th...
Markets
Feb. 16, 2023

Short Trades Make up 90% of $200M in Losses as Bitcoin, Ether Surge

Traders betting on a market-wide decline were caught off guard as a broader market recovery in the past 24 hours saw $185 million in shorts, or bets against price rises, getting liquidated. That contributed to over $200 million in overall liquid...
Markets
Feb. 16, 2023

First Mover Asia: Bitcoin Rockets Past $24.7K to Hit 6-Month High

Good morning. Here’s what’s happening: Prices: Bitcoin surged to its highest level since August. Insights: BLUR, the token of NFT marketplace Blur, surges following an airdrop. Catch the latest episodes of CoinDesk TV for insightful i...
Markets
Feb. 15, 2023

Tether's USDT Gains $1B as Paxos Burns Over $1.8B of Binance USD Stablecoins

Tether’s USDT , the largest stablecoin by circulating supply, has gained some $1 billion in market capitalization as crypto investors flee rival Binance USD ( BUSD ), which came under regulatory scrutiny earlier this week. USDT’s market cap has...
Markets
Feb. 15, 2023

Bitcoin Soars Past $24K to Reach 2-Week High

Bitcoin bolted past $24,000 for the first time in two weeks after surging more than 8% over the past 24 hours, likely the result of the type of short squeeze that historically has sent prices higher. The percentage increase was the largest since ...
Markets
Feb. 15, 2023

Lido DAO’s Governance Token LDO Jumps on Treasury Proposal

LDO, the governance token of the decentralized autonomous organization (DAO) behind liquid staking solution Lido, has gained 10% on the day as it submitted a proposal on Tuesday over whether it should sell or stake the $30 million in ether from...
Markets
Feb. 15, 2023

Ether Staking Service Lido Granted 1M Optimism Tokens to Incentivize Wrapped Staked Ether Adoption

Ethereum liquid staking protocol Lido Finance has been awarded 1 million optimism (OP) tokens to help scale the adoption of wrapped staked ETH (wstETH) across the Optimism ecosystem. The move is part of a broader plan. Last year, Lido said it wi...
Markets
Feb. 15, 2023

First Mover Americas: Lido DAO’s Governance Token Jumps 17%

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 ...
Markets
Feb. 15, 2023

Explaining the Disconnect Between Bitcoin and Treasury Yields Post US Inflation Data

Risky assets like bitcoin (BTC) and the tech-heavy Nasdaq index unexpectedly put in a positive performance on Tuesday even as U.S. consumer price index (CPI) data revived hawkish Federal Reserve (Fed) concerns and sent Treasury yields higher. ...
Markets
Feb. 15, 2023

Coinbase: Ether Selling Pressure Should Be Fairly Limited Around the Shanghai Fork Upgrade

The decision by crypto exchange Kraken to shut its staking business as part of a settlement with the U.S. Securities and Exchange Commission has added to the uncertainty around ether (ETH) supply dynamics ahead of the Ethereum blockchain’s next...
Markets
Feb. 15, 2023

BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments

The Binance USD ( BUSD ), the third-largest stablecoin by market cap, is returning to its intended $1 peg after Binance CEO Changpeng Zhao commented on the crypto exchange’s connection to the popular Paxos Trust Co.-issued token on Tuesday. BU...
Markets
Feb. 15, 2023

Sam Bankman-Fried, Caroline Ellison, and Other Company Insiders Subpoenaed by FTX for Documents

FTX company insiders including Sam Bankman-Fried, former Alameda CEO Caroline Ellison, Bankman-Fried's father Joseph Bankman, as well as Gary Wang and Nishad Singh have been served subpoenas by bankruptcy administrators. Court documents show t...
Markets
Feb. 15, 2023

NFT Marketplace Blur's Token Reaches $500M Trading Volume After Airdrop

Tokens of NFT marketplace Blur have already amassed over $500 million in trading volume in less than 24 hours since their much-hyped airdrop. Airdrops are the unsolicited distribution of a cryptocurrency token or coin, usually for free, to numer...
Markets
Feb. 15, 2023

Canine Crypto Coins Jump After Elon Musk Sends DOGE-Themed Tweet

Traders are pumping all things Shiba Inu after Twitter CEO Elon Musk posted a meme involving his dog Floki posing as the new boss of Twitter. The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH — Elon Musk (@elonmusk) February...
Markets
Feb. 15, 2023

DBS Says Bitcoin Trading up 80% in 2022 on DDex Exchange

Singapore’s DBS bank said in a release that the number of bitcoin traded on its DDEx exchange was close to 80% higher year-on-year, while the number of Ether traded on the platform was nearly 65% higher. The bank wouldn’t release figures related...
Markets
Feb. 15, 2023

First Mover Asia: Bitcoin Holds Steady on CPI Data. Are Investors Undecided?

Good morning. Here’s what’s happening: Prices: Crypto Markets are undecided on CPI. Watch out for AI meme tokens. Insights: Are Ordinals driving up the price of bitcoin? Probably not. But here's one important metric to watch. Prices ...
Markets
Feb. 14, 2023

Bitcoin Rebounds Above $22K After Tepid Inflation Readings

Bitcoin regained a foothold comfortably above $22,000, despite tepid January U.S. consumer price index (CPI) data. The largest cryptocurrency by market capitalization was recently trading over $22,200, a more than 3% gain during the past 24 ho...
Markets
Feb. 14, 2023

Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure

Paxos, the issuer of the $16 billion Binance USD ( BUSD ) stablecoin, has burned more than $700 million of BUSD tokens since Paxos announced on Monday that it would stop issuing the cryptocurrency amid mounting regulatory pressure, blockchain d...
Markets
Feb. 14, 2023

Bitcoin’s UTXOs Are Close to All-Time High. Here’s Why it Matters

Activity on the Bitcoin Network is hitting an all-time high, as the market has been very receptive to the new collections minted via Ordinals , a type of non-fungible token (NFT) stored on Bitcoin. There’s another metric that’s important to...
Markets
Feb. 14, 2023

First Mover Americas: Bitcoin Posts Slight Gains Ahead of U.S. CPI Data

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 ...
Markets
Feb. 14, 2023

Investors Rush to Tether as Paxos' BUSD Faces Regulatory Heat, Curve Liquidity Pools Show

If you have been following crypto commentators on Twitter since Sunday, you have probably read that U.S. financial regulators' recent action against Paxos' centralized, dollar-pegged stablecoin BUSD is set to drive investors toward decentralized...
Markets
Feb. 14, 2023

Volt Inu Community Passes Vote for $75M Token Burn, Plans Polygon Network Expansion

A now-concluded Volt Inu community vote to burn nearly 45 trillion VOLT tokens on a BNB Chain to Ethereum bridge was passed Monday by voters, with $14 million worth already burned as of the time of writing on Tuesday. These tokens were worth o...
Markets
Feb. 14, 2023

Morgan Stanley: Falling Stablecoin Issuance Is Negative Sign for Crypto Trading

Stablecoins play a vital role in crypto trading and their products potentially compete with the fiat banking system, Morgan Stanley (MS) said in a research report Monday. The bank notes that U.S. regulators have begun limiting stablecoin produc...
Markets
Feb. 14, 2023

Stablecoin Lender Liquity's LQTY Token Surges 45% as New York Regulator Goes After Paxos' BUSD

LQTY, the native token of censorship-resistant decentralized stablecoin lender Liquity, surged Monday after a New York regulator ordered Paxos to stop minting its centralized dollar-pegged cryptocurrency BUSD. The token rose 45% to a six-month...
Markets
Feb. 14, 2023

Curve Token Surges Over 10% as Crypto Traders Eye Curve USD Stablecoin

The token of stablecoin swapping service Curve (CRV) gained 11% in the past 24 hours amid a broader market demand for decentralized stablecoins. While Curve does not offer native stablecoins yet, its upcoming curve USD (crvUSD) token is much awa...
Markets
Feb. 14, 2023

First Mover Asia: Binance BNB Token Plunges, Bitcoin Holds Near $21.8K Amid US Regulatory Uproar

Good morning. Here’s what’s happening: Prices: This year will continue to be a challenge for crypto, but it's possible that bitcoin will hit $25,000 says Tastycrypto Head of Digital Assets Ryan Grace. Insights: In a news analysis, CoinDes...
Markets
Feb. 13, 2023

Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange

Binance, the world’s largest crypto exchange by trading volume, has endured some $831 million of net outflows in the past 24 hours, according to blockchain intelligence firm Nansen’s data . Investors appear to be spooked by a regulatory crackdo...
Markets
Feb. 13, 2023

Bitcoin, Ether Drop as Investors Fret Over Inflation Data, Stablecoin Regulation

Bitcoin kicked off a new week by sliding 1.4% to trade at around $21,640 as worried investors chewed over regulatory activity in the stablecoin sector and the next inflation report due Tuesday. The largest cryptocurrency by market capitalization...
Markets
Feb. 13, 2023

Binance USD's $16B Market Cap Up for Grabs as SEC-Paxos Suit Stirs Up Stablecoin Rivalry

The decision by stablecoin issuer Paxos to stop issuing Binance USD ( BUSD ) after a fresh lawsuit from the U.S. Securities and Exchange Commission (SEC) will shake up the $136 billion stablecoin market – with industry leaders Tether’s USD...
Markets
Feb. 13, 2023

Grayscale’s GBTC Discount Widens to Near-Record High

Grayscale’s Bitcoin Trust (GBTC), the world’s largest publicly traded bitcoin fund, has seen its discount widen to near record highs. GBTC’s discount to net asset value (NAV) reached its lowest level since Dec. 29 on Monday, according to data fr...
Markets
Feb. 13, 2023

First Mover Americas: Paxos Acts on SEC Threat

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 ...
Markets
Feb. 13, 2023

BUSD Depegs From Rival Stablecoin Tether After US Regulator Tells Paxos to Stop Minting New Tokens

Binance's dollar-pegged stablecoin BUSD turned volatile in the wake of regulatory action against its issuer Paxos Trust Co. Early Monday, BUSD, designed to maintain a 1:1 value with the U.S. dollar, slipped into a discount of 0.9950 against its ...
Markets
Feb. 13, 2023

BNB Token Slides Under $300, Binance USD Inflows Signal Bearish Signs

BNB Chain’s native token slid over 7% while Binance USD (BUSD) stablecoins had high inflows to crypto exchanges in the past 24 hours as traders reacted to reports of BUSD issuer Paxos facing legal troubles in the U.S. BNB tokens traded over $315...
Markets
Feb. 13, 2023

Correlation Between Crypto Market and Nasdaq Turns Positive Ahead of US CPI Release

The correlation between the crypto market and the tech-heavy Nasdaq equity index has turned positive, indicating the digital asset investors' renewed focus on risk appetite on Wall Street. The 90-day correlation coefficient between the crypto ma...
Markets
Feb. 13, 2023

Arbitrum-Based GMX Surpassed Ethereum Blockchain in Daily Fees Over Weekend

Decentralized finance (DeFi) exchange GMX logged fees of over $5 million in a 24-hour period over the weekend – temporarily making it the largest revenue generator in DeFi, ahead of even the Ethereum blockchain. This added to the $120 million in...
Markets
Feb. 13, 2023

DeFi Protocol Clearpool Chooses Polygon Network for Its Institutional Lending Platform

Decentralized finance (DeFi) protocol Clearpool will deploy its institutional credit platform Prime exclusively on Ethereum scaling tool Polygon network, the protocol told CoinDesk in a statement. “We have been working closely with the Polygon t...
Markets
Feb. 13, 2023

First Mover Asia: Bitcoin Might Test $20K as It Looks for Support

Good morning. Here’s what’s happening: Prices: Bitcoin might test $20,000 or below, but there's still reason to be bullish about the world's largest digital asset. Insights: The Securities and Exchange Commission's move against Kraken's s...
Markets
Feb. 10, 2023

First Mover Americas: Kraken's SEC Settlement Sends Crypto Markets Tumbling

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 ...
Markets
Feb. 10, 2023

Long Traders Bear Brunt as Bitcoin, Ether Slide Spurs $220M in Liquidations

Kraken's settlement with the U.S. Securities and Exchange Commission over its liquid staking platform spurred a market decline, with the impact felt most by futures traders betting on further growth. Long trades, or bets on higher prices, took...
Markets
Feb. 10, 2023

First Mover Asia: Kraken Crypto Staking Settlement Bedevils Markets as Bitcoin Lingers Below $21.9K

Good morning. Here’s what’s happening: Prices: Bitcoin swung below $22K after crypto exchange Kraken agreed to sunset its crypto staking operations; altcoins fell, although liquid staking tokens were an exception. Insights: Whales are se...
Markets
Feb. 09, 2023

Liquid Staking Tokens Rally as Kraken Settles with SEC to Sunset Staking Service

Governance tokens of the largest liquid staking protocols surged on news that U.S.-based crypto exchange Kraken had settled with the U.S. Securities and Exchange Commission (SEC) on Thursday to sunset its crypto staking service. The LDO gove...
Markets
Feb. 09, 2023

Bitcoin Drops Below $22K as Kraken Agreement to Close Crypto Staking Operations Spooks Investors

Bitcoin dipped below $22,000 Thursday and was recently down nearly 4% over the past 24 hours amid a wider market decline that largely followed news that crypto exchange giant Kraken had agreed to shut its cryptocurrency-staking operations to sett...
Markets
Feb. 09, 2023

The Future of Financial Planning Lies in AI and Blockchain

The integration of blockchain and artificial intelligence (AI) technology in financial planning and portfolio construction holds immense potential for efficiency, accuracy and security in the industry. The use of blockchain and AI in this field ...
Markets
Feb. 09, 2023

First Mover Americas: Coinbase CEO Brian Armstrong Suggests SEC Could Ban Staking

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 ...
Markets
Feb. 09, 2023

CryptoQuant: Bitcoin Network Activity Spikes to Two-Year High Thanks to NFTs

Network activity on the Bitcoin blockchain has hit a level not seen since China banned crypto miners in May 2021, according to a report by CryptoQuant citing on-chain data. This uptick in activity stems from the popularity of the Ordinals prot...
Markets
Feb. 09, 2023

Flux Finance Launches Lending Token Collateralized by U.S. Treasury Debt

What’s the latest trend in Decentralized Finance? Yield farming backed by U.S. government debt. Following the recent launch of Ondo Finance’s U.S. Treasury-backed Government Bond Fund (OUSG), Flux Finance has launched a decentralized lendin...
Markets
Feb. 09, 2023

Ether Liquid Staking Tokens Jump on Rumors of SEC Ban for Staking Providers

Liquid staking tokens jumped overnight as investors bet on growth in decentralized staking products amid rumors of their centralized counterparts facing a possible ban in the U.S. The liquid staking sector jumped 5.4% on average, CoinGecko data ...
Markets
Feb. 09, 2023

Lido DAO Governance Token Surges on Armstrong Comments About SEC Staking Ban

The governance token for the liquid staking platform Lido has surged on rumors signal boosted by Coinbase CEO Brian Armstrong that the Securities and Exchange Commission (SEC) might ban staking for retail customers. LDO, the governance token ...
Markets
Feb. 09, 2023

First Mover Asia: Bitcoin Hovers Near $23K; Why AI Tokens Are on a Months-Long Tear

Good morning. Here’s what’s happening: Prices: Bitcoin spent another day near its most recent $23K support. LDO spikes. Insights: AI-related tokens have been surging for months amid rising institutional investment, writes CoinDesk editor...
Markets
Feb. 08, 2023

Cross-Chain Protocol Stargate Finance’s Token Surges by Double Digits on Trader Joe Partnership

​Cross-chain bridge protocol Stargate Finance’s native STG token surged 13% over the past 24 hours following its announced plan to team up with Avalanche-based decentralized exchange Trader Joe to unlock omnichain fungible tokens. STG has rece...
Markets
Feb. 08, 2023

MakerDAO Contributors Propose First Native Liquidity Market Focused on DAI Stablecoin

Leading MakerDAO community participants have proposed creating a new liquidity market called Spark Protocol for lending and borrowing crypto assets focused on DAI , Maker’s $5 billion stablecoin, according to a proposal posted on Wednesday in ...
Markets
Feb. 08, 2023

Crypto Derivative Volumes Saw Speedy Growth as Prices Rose in January

Trading activity increased strongly across the board in January, but derivatives volume grew faster than spot markets, according to data from CryptoCompare. Derivatives volume in January was up 76.1% from December to $2.04 trillion, the largest ...
Markets
Feb. 08, 2023

First Mover Americas: The Sandbox Is Up on Saudi Arabia Partnership News

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 ...
Markets
Feb. 08, 2023

Here’s Why Artificial Intelligence Focused Cryptocurrencies Are Vastly Outperforming Bitcoin

Crypto markets are known to be fueled by narratives, and artificial intelligence (AI) is the latest trend. Prominent traders on Crypto Twitter are heralding AI-based tokens as the sector that might lead the next bull market cycle. They may be ...
Markets
Feb. 08, 2023

First Mover Asia: Bitcoin Flirts With $23.4K as Jerome Powell Repeats Comment About Waning Inflation; Market Weighs DCG-Genesis Deal With Creditors

Good morning. Here’s what’s happening: Prices: Crypto prices continue their cautious move upwards as Fed Chair Jay Powell continues to hint that the war on inflation is nearing its end. Meanwhile, investors are breathing a sigh of relief aft...
Markets
Feb. 07, 2023

Blockchain-Based Render Network Token Rising After Community Vote for New Burn-and-Mint Model

The utility token of the blockchain-based distributed rendering service Render Network has surged over 80% over the past week, following the network’s vote passing a new tokenomics model. RNDR’s price has climbed 16% during the past 24 hours and...
Markets
Feb. 07, 2023

Bitcoin Favored Over Ether by CME Traders So Far This Year, Arcane Research Report Shows

Institutional traders are prioritizing bitcoin over ether exposure so far in 2023, according to a report from digital asset analysis firm Arcane Research. Open interest in bitcoin (BTC) futures listed on the derivatives giant Chicago Mercantile ...
Markets
Feb. 07, 2023

Bitcoin On-Chain Metrics Look Bullish, Bitfinex Report Highlights

On-chain indicators are pointing toward positive sentiment for bitcoin, the world’s largest cryptocurrency by market capitalization. The bitcoin supply "in profit," which is the percentage of existing coins whose price at the time they last mo...
Markets
Feb. 07, 2023

First Mover Americas: The Graph’s GRT Soars 92% in 7 Days

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 ...
Markets
Feb. 07, 2023

DebtDAO to Burn 18M FTX User Debt Tokens Following Demand Frenzy

Irrational exuberance from crypto traders for the newly-issued FTX User Debt (FUD) tokens has resulted in volatile price swings, controversies, millions in trading volumes, and a decision to destroy a majority of the token’s supply permanently. ...
Markets
Feb. 07, 2023

First Mover Asia: Crypto Is Flat Before Fed Chair Speech; Japan's SBI Building a Metamask Competitor for Yen-Denominated NFT Trading

Good morning. Here’s what’s happening: Prices: What's next for crypto prices? Traders are waiting for a speech by Fed chair Jay Powell before they make their next moves. In Japan, one digital assets company wants to build the market for NFT ...
Markets
Feb. 07, 2023

Indexing Protocol The Graph’s GRT Token Soars Back Past $1B Market Cap

Indexing protocol The Graph’s GRT token surpassed a $1 billion market capitalization again on Sunday, according to data from CoinMarketCap. The spike reflects the platform’s significant ecosystem growth in 2022, particularly during the fourth q...
Markets
Feb. 06, 2023

Bitcoin Holds Steady Near $23K as Investors Weigh Their Next Steps

Bitcoin dipped for a fifth consecutive day Monday before regaining ground later in the day to trade near $23,000. The largest cryptocurrency by market capitalization was recently down about a half a percentage point over the past 24 hours, acc...
Markets
Feb. 06, 2023

‘Disinflation’ Trends Will Soon ‘Hit a Brick Wall’: Oanda’s Edward Moya

How long the labor market’s better-than-expected recovery lasts could have an impact on how quickly inflation falls, Oanda Senior Market Analyst Edward Moya told CoinDesk TV’s “First Mover” Monday. “These disinflation trends are gonna hit a bric...
Markets
Feb. 06, 2023

Decentralized Lending Protocol Clearpool to Start Institutional Borrowing Platform

Clearpool, a decentralized finance ( DeFi ) lending protocol, will launch its non-custodial institutional borrowing platform Clearpool Prime in the first quarter of this year, according to a Monday blog post outlining plans for 2023. Instituti...
Markets
Feb. 06, 2023

Global Crypto Industry Pledges Aid to Turkey Following Deadly Earthquakes

Local and foreign crypto exchanges have pledged aid to Turkey after two powerful earthquakes and multiple aftershocks claimed thousands of lives on Monday. The earthquakes have so far claimed at least 2,100 lives in Turkey and Syria , with org...
Markets
Feb. 06, 2023

First Mover Americas: Bitcoin in the Red for Fifth Day Straight Day

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 ...
Markets
Feb. 06, 2023

Bernstein: Ethereum Activity Has Picked Up, With Shanghai Upgrade the Next Big Catalyst

Ethereum has witnessed much healthier on-chain activity recently, with improved interest in non-fungible-tokens (NFTs) led by the launch of a mini-game by Yuga Labs , Bernstein said in a research report Monday. Daily fees on the blockchain ha...
Markets
Feb. 06, 2023

First Mover Asia: Bitcoin Not Ready to Soar as Investors Await Fed Chair Speech, More Earnings

Good morning. Here’s what’s happening: Prices: Bitcoin dipped below $23K earlier in the weekend and flattened on Sunday as investors await the next utterances from Federal Reserve Chair Jerome Powell. Insights: If crypto continues to reb...
Markets
Feb. 03, 2023

Decentralized Lending Protocol Centrifuge Accrues $6M Unpaid Debt

Some $5.8 million of loans in two lending pools are overdue on the decentralized lending protocol Centrifuge , according to data by blockchain credit analytics platform rwa.xyz . The distressed debt includes consumer loans and invoice and trad...
Markets
Feb. 03, 2023

Bitcoin Market Sentiment Is Most Bullish in 14 Months With U.S. Jobs Report Due

Bitcoin ( BTC ) is currently priced significantly lower than it was in late 2021. Still, the mood in the market is as positive as it was back then. That's the message from funding rates , a mechanism that keeps the prices of bitcoin perpetual f...
Markets
Feb. 03, 2023

First Mover Asia: Bitcoin Dips Into Red but Holds Strong Above $23.5K

Good morning. Here’s what’s happening: Prices: A late Thursday dip sent bitcoin and other cryptos into negative territory from Wednesday highs that followed the Federal Reserve's moderate interest rate hike. Insights: Crypto trading acti...
Markets
Feb. 02, 2023

Crypto Market’s Post-Fed Rally Continues as DeFi, Smart Contract Platform Sectors Star

A day after Federal Reserve Chair Jerome Powell offered unexpectedly less hawkish remarks to accompany the U.S. central bank’s modest interest rate increase, most major cryptocurrencies were in the green, with several tokens from the decentrali...
Markets
Feb. 02, 2023

First Mover Americas: Network Update Lifts AVAX

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 ...
Markets
Feb. 02, 2023

OP Token Surges 25% as Optimism Foundation Proposes 'Bedrock' Upgrade

Ethereum layer 2 scaling solution Optimism on Wednesday proposed a mainnet upgrade to boost performance and functionality, accelerating the rally in its governance token OP. "The Optimism Foundation is proud to propose the first protocol upgra...
Markets
Feb. 02, 2023

Bitcoin, S&P 500 Close In on Bullish 'Golden Cross' Signal

Bitcoin ( BTC ) and Wall Street's benchmark equity index, the S&P 500, are on the verge of hitting an easy-to-track bullish technical signal, the golden cross, that often makes traders giddy with delight. A golden cross occurs when the 50-da...
Markets
Feb. 02, 2023

First Mover Asia: Is Bitcoin's Ride Past $24.1K a Stopping Point or Sign of Further Gains?

Good morning. Here’s what’s happening: Prices: Crypto investors may have been expecting a 25 basis point rate hike, but the Fed's announcement didn't stop them from sending bitcoin and other cryptos higher. Will crypto assets move higher as ...
Markets
Feb. 01, 2023

Crypto Investors Can Purchase Bankruptcy 'Put Options' to Protect Funds on Binance, Coinbase, Kraken

Bankruptcy-focused investment firm Cherokee Acquisitions has started offering what it calls “put options” to crypto investors to protect their funds on crypto exchanges Binance, Coinbase and Kraken in the event of a bankruptcy, CoinDesk learned W...
Markets
Feb. 01, 2023

Bitcoin Blasts Through $23.5K as Powell Speaks Following Fed Rate Hike

Bitcoin jumped $700, moving above $23,600, as Federal Reserve Chair Jerome Powell suggested the U.S. central bank is seeing signs of waning inflation. Prior to Powell speaking, the Federal Open Market Committee – as expected – lifted its benchm...
Markets
Feb. 01, 2023

Decentralized Exchange Dexalot Starts a Hybrid DeFi Subnet

Decentralized cryptocurrency exchange (DEX) Dexalot has launched on layer-1 protocol Avalanche as a Subnet, attempting to combine the user experience of centralized exchanges (CEX) along with the transparency and decentralization of a DEX. Dexal...
Markets
Feb. 01, 2023

Bitcoin Little-Changed on Soft Economic Data Ahead of Fed Meeting

Private hiring slowed to its weakest level in 2 years, according to the ADP National Employment Report, with just 106,000 jobs added in January. In addition, the manufacturing sector continued to contract, with the ISM Manufacturing Survey for Ja...
Markets
Feb. 01, 2023

First Mover Americas: Bankrupt With $1.4B Cash

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 ...
Markets
Feb. 01, 2023

Bitcoin and Hang Seng's Stalled Rally Might Mean Wider De-Risking Ahead, TradFi Firm Says

Bitcoin's (BTC) ascent that began a month ago has hit a wall this week, with upward momentum running out of steam near key technical resistance. A similar pattern has emerged in Hong Kong's benchmark equity index Hang Seng. That has one observer...
Markets
Feb. 01, 2023

ARK Invest Maintains Prediction That Bitcoin Prices Will hit $1M by 2030

Despite a severe downturn, public blockchains continue to foster multiple revolutions and one of them is bitcoin (BTC), says ARK Invest in its 2023 Big Ideas research report . Bitcoin, in the eyes of ARK, is still predicted to close the decade ...
Markets
Feb. 01, 2023

Bitcoin Could be in the Later Stages of the Bear Market, On-Chain Data Suggests

Bitcoin’s (BTC) recent uptrend was met with euphoria and skepticism as prices rallied 40% in the past month – despite ongoing contagion effects spread by the fall of centralized crypto players. Bitcoin slipped to as low as $15,700 in November as...
Markets
Feb. 01, 2023

Bitcoin Price Could Reach $45,000 by Christmas 2023: Matrixport

U.S. institutions have probably been behind January’s rally in bitcoin ( BTC ), which saw the cryptocurrency gain more than 38%, and an outperformance this early in the year tends to be bullish for the token’s price, crypto services provider Matr...
Markets
Feb. 01, 2023

Cardano-Based Djed Stablecoin Attracts 27M ADA Tokens as Reserve Backing

Cardano-based overcollateralized stablecoin Djed (DJED) has attracted over 27 million cardano (ADA) tokens as backing less than a day after launch, data shows . At the time of writing Djed has a reserve ratio of nearly 600%, meaning each djed i...
Markets
Feb. 01, 2023

Bitcoin UTXOs Older Than 5 Years Surged During Bear Market

If you have been following Crypto Twitter for some time, you have probably seen several tweets claiming continued bitcoin (BTC) holding by some investors during last year's bear market. Now we have the evidence. Bitcoin's HODL Waves indicator ...
Markets
Feb. 01, 2023

Ripple Sold $226M of XRP in Q4; Sees Strong Growth in On-Demand Liquidity Product

Ripple sold $226 million worth of XRP tokens, net of purchases, in Q4, the firm said in its XRP markets report . The centralized fintech company builds global payment products and developed the XRP payment system, which the firm describes as de...
Markets
Feb. 01, 2023

First Mover Asia: Lido DAO Governance Token Down, Staked Ether Stable, as Withdrawal Proposal Comes Into Focus; Bitcoin Rises as Fed Rate Decision ...

Good morning. Here’s what’s happening: Prices: Bitcoin and other cryptocurrencies closed a successful January. Will the remainder of the Year of the Rabbit in the lunar zodiac see the momentum continue? Insights: A Lido DAO proposal faces...
Markets
Jan. 31, 2023

Crypto Market January Roundup: Aptos, Metaverse-Affiliated Tokens Lead Broad-Based Rally

After spending 2022 in the doldrums, the cryptocurrency market has soared in January, with the biggest winners tokens that fell by the most last year. Layer 1 blockchain Aptos’ APT token was the biggest winner among 160 assets in the CoinDesk ...
Markets
Jan. 31, 2023

Crypto Markets Today: Fed Preview, Bitcoin Holds Steady at $22.9K

Latest Prices CoinDesk Market Index (CMI) 1,080.23 +14.3 ▲ 1.3% Bitcoin (BTC) ...
Markets
Jan. 31, 2023

Crypto Bank Silvergate Shares Move Higher After BlackRock Boosts Stake

Asset management giant BlackRock (BLK) disclosed a 7.2% stake in Silvergate Capital (SIL) as of Dec. 31, sending the stock sharply higher in Tuesday trade. The fund manager's ownership of more than 228,000 shares of Silvergate, or a 7.2% stake...
Markets
Jan. 31, 2023

Metaverse Tokens Outperforming Bitcoin in January

Metaverse-related tokens have started the year hot, outperforming bitcoin, the world’s largest cryptocurrency by market value, by large margins. Decentraland’s MANA , which is the native token of the metaverse project, has gained about 152% in ...
Markets
Jan. 31, 2023

First Mover Americas: Celsius Network Accused of Running a Ponzi Scheme

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 ...
Markets
Jan. 31, 2023

Fed Preview: Powell to Trigger 'Healthy Pullback' in Bitcoin, Experts Say

The year 2023 has begun on a positive note with bitcoin (BTC), a pure play on the U.S. dollar liquidity conditions, outperforming traditional risk assets with a 40% price gain. The rally could be interrupted by a temporary price pullback as the ...
Markets
Jan. 31, 2023

Stablecoins Seem Unattractive as the Gap Between 3pool's APY and Treasury Yields Widens

The difference between the returns received by depositing stablecoins on decentralized exchange Curve's 3pool and the yield from U.S. government bonds continues to widen, highlighting the growing attractiveness of traditional fixed-income markets...
Markets
Jan. 31, 2023

NFT Marketplace SudoSwap Airdrops Tokens to Liquidity Providers and 0xmon Holders

Popular non-fungible token (NFT) marketplace Sudoswap on Monday issued and airdropped its sudo tokens to users based on predetermined criteria. Airdrops are the unsolicited distribution of a cryptocurrency token or coin, usually for free, to num...
Markets
Jan. 31, 2023

First Mover Asia: Centralized Exchange Tokens Post Solid Gains in January Despite SEC Interest; Bitcoin, Ether, in the Red.

Good morning. Here’s what’s happening: Prices: Bitcoin and ether began the business day in Asia in the red. CoinDesk Market Index (CMI) 1,061 ...
Markets
Jan. 30, 2023

Bitcoin Suffers Largest Daily Plunge Since November to Sink Below $22.6K as Fed Meeting Looms

Bitcoin dipped below $22,600 at one point Monday to record, its biggest single-day percentage loss since early November when the FTX meltdown sent the crypto market reeling. The largest cryptocurrency by market capitalization was recently tradin...
Markets
Jan. 30, 2023

Crypto Markets Today: Bitcoin Dips Below $23K Ahead of Fed’s Meeting

Latest Prices CoinDesk Market Index (CMI) 1,065.79 −55.7 ▼ 5.0% Bitcoin (BTC) ...
Markets
Jan. 30, 2023

Sandbox’s SAND Surges 90% Since Start of Year Ahead of Token Unlock

Virtual world Sandbox’s SAND token is witnessing a surge in price over the month ahead of its token unlock scheduled for Feb. 14. Token unlocks, which are usually considered bearish events, appear to be having little effect on the price of Sandb...
Markets
Jan. 30, 2023

Investors Pump Money Into Crypto Funds Amid Pickup in Market Sentiment

Digital asset investment products saw a total of $117 million in inflows last week, the largest in six months, according to data from CoinShares . Investors pumped money mainly into bitcoin-related funds, which accounted for $116 million worth ...
Markets
Jan. 30, 2023

First Mover Americas: Bitcoin Was Weekend Warrior

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 ...
Markets
Jan. 30, 2023

Deflationary Ether Is Underperforming Bitcoin, Here are 3 Reasons Why

Ether (ETH) turned deflationary two weeks ago, with its net supply increase turning negative for the first time in over a month. The second-largest cryptocurrency's net issuance or the annualized inflation rate dropped below zero on Jan. 15 an...
Markets
Jan. 30, 2023

Floki Inu DAO Passes Proposal to Burn Over $100M Worth of Tokens

The Floki Inu community voted in favor of a recent governance proposal that sought to burn 4.2 trillion FLOKI tokens on a cross-chain bridge and reduce transactional tax. The proposal passed with a 99.97% majority voting in favor of burning the ...
Markets
Jan. 30, 2023

First Mover Asia: Amazon’s Web3 Foray Will Be a Compliance Nightmare; Bitcoin Tops $23.9K

Good morning. Here’s what’s happening: Prices: Bitcoin tops $23.9K before retreating slightly amid ongoing investor optimism. But one market observer says the largest cryptocurrency by market capitalization could be due for a U-turn. Insig...
Markets
Jan. 27, 2023

Crypto Markets Today: Bitcoin Holds Steady Above $23K, White House Urges Congress to 'Step Up' Crypto Regulation

Latest Prices CoinDesk Market Index (CMI) 1,092.39 +6.2 ▲ 0.6% Bitcoin (BTC) ...
Markets
Jan. 27, 2023

Bitcoin Holds Steady Above $23K as Traders Eye Fed’s Next Meeting

Bitcoin ( BTC ) held above $23,000 on Friday as traders awaited next week’s Federal Open Market Committee decision on interest rates and any hints policymakers may drop about when their hiking campaign might end. The largest cryptocurrency by ma...
Markets
Jan. 27, 2023

Decentralized Exchange Vela’s DXP Token Surges Ahead of Beta Release on Arbitrum

Arbitrum -based decentralized trading platform (DEX) Vela Exchange’s DXP utility token has mounted a powerful rally as the project prepares to release its much-anticipated beta version next week. DXP’s price gained some 50% in the past 24 hours...
Markets
Jan. 27, 2023

First Mover Americas: Layer 2 Tokens Take Lead

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 ...
Markets
Jan. 27, 2023

Polygon Derivatives DEX Gains Network Crosses $1.5B in Trading Volume on Arbitrum

Decentralized exchange (DEX) Gains Network has recorded over $1.5 billion in trading volume on the Arbitrum blockchain nearly a month after being deployed. Gains Network was initially released on Polygon and has contributed to the recent rising...
Markets
Jan. 27, 2023

Floki Inu Developers Float DAO Proposal to Burn $55M of Its Own Tokens

Developers behind Floki Inu, the Shiba Inu dog breed-themed project, have floated a governance proposal to burn nearly $55 million of its namesake FLOKI tokens and reduce a tax levied on each transaction. Burning tokens is a way of reducing su...
Markets
Jan. 27, 2023

Bitcoin on Track for Best January Since 2013, Led by Bullish Trading in US Hours

Bitcoin (BTC) is having its best start to the year since 2013. The price of the largest cryptocurrency by market capitalization has jumped 40% this month amid weakness in the U.S. dollar. The rally has been powered predominantly by stateside buye...
Markets
Jan. 27, 2023

First Mover Asia: Cryptos Shrug Off Latest US Productivity, Jobs Data; Bitcoin Hovers at $22.9K

Good morning. Here’s what’s happening: Prices: GDP cooled. Jobless claims sank, underlining the current tight job market and an economy that was still rising. But bitcoin and other cryptos were largely unimpressed by the latest data. Insig...
Markets
Jan. 26, 2023

Ethereum Scaling Tool Polygon's MATIC Token Surges Amid Spike in Transactions

Ethereum scaling tool Polygon’sMATIC token has surged 12% over the past 24 hours, continuing its strong momentum this year. MATIC was recently trading at $1.11. It is up 48% since Dec. 31 amid a spike in daily transactions that have made the b...
Markets
Jan. 26, 2023

Crypto Markets Today: Bitcoin Clings to $23K, FTX’s Creditor List Revealed

Top Story It's the list everyone has been waiting for, minus 9.7 million redacted customer names. But the 116-page FTX creditor list, which names companies including Netflix (NFLX) and Apple (AAPL), still paints a comprehensive picture of th...
Markets
Jan. 26, 2023

Optimism’s OP Token Hits All-Time High as Layer 2 Adoption Interests Grow

Layer 2 network Optimism’s OP token surged to its all-time high of over $2.50 on Wednesday amid rising adoption of layer 2 networks. OP , which ​​ launched via a community airdrop on May 31, 2022, was more recently trading at about $2.22, down...
Markets
Jan. 26, 2023

DeFi Protocol Aave Clears Bad CRV Token Debt from Exploit Attempt

Decentralized finance (DeFi) protocol Aave eliminated the bad debt of 2.7 million of curve dao tokens ( CRV ) from a botched November trade by Mango Markets exploiter Avi Eisenberg, blockchain data on Etherscan shows. The move came after Aave’...
Markets
Jan. 26, 2023

Crypto Thaw May Be Premature but Advisors Should Prepare for Winter’s End

The days are slowly getting longer, the birds are singing outside my window and the price of bitcoin hit $23,000 for the first time in months. Could it portend the end of the crypto winter? As someone who has spent many years of my life living...
Markets
Jan. 26, 2023

Crypto Exchange BIT Expands Product Suit With Toncoin Options

Cryptocurrency derivatives exchange BIT on Thursday introduced options tied to toncoin (TON), the native token of the decentralized layer 1 blockchain The Open Network, formerly known as Telegram Open Network. The options are live on the platfor...
Markets
Jan. 26, 2023

First Mover Americas: Aptos’ Token Surges to Record High

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 ...
Markets
Jan. 26, 2023

First Mover Asia: Bitcoin Tops $23.7K in Wednesday Comeback

Good morning. Here’s what’s happening: Prices: Bitcoin regains lost ground to trade over $23K again. Insights: Laguna Labs CEO Stefan Rust wrote in a CoinDesk Q&A that the Genesis Chapter 11 filing prompted a sigh of relief among many...
Markets
Jan. 25, 2023

Binance USD Stablecoin Sees $2B Reduction in a Month Amid Token Mismanagement

Crypto exchange giant Binance’s BUSD stablecoin has extended its recent declines, amid mismanagement issues involving the exchange’s pegged tokens that surfaced earlier this month, and other debacles. BUSD’s circulating supply fell to $15.4 bill...
Markets
Jan. 25, 2023

Crypto Markets Today: Layer 1 Blockchain Token Aptos Reaches Record High

Top Story Layer 1 blockchain Aptos’ token, which has been surging since the start of the year, broke an all-time high on Wednesday. This article originally appeared in Crypto Markets Today , CoinDesk’s daily newsletter diving into what ...
Markets
Jan. 25, 2023

Layer 1 Blockchain Aptos Token Reaches All-Time High

Layer 1 blockchain Aptos’ token, which has been surging since the start of the year, broke an all-time high on Wednesday. The token, APT, reached $16.46 and is up 350% since Jan. 1, according to CoinDesk data. APT was more recently changing hand...
Markets
Jan. 25, 2023

Bank of Canada Signals Pause to Rate Hike Cycle

The Bank of Canada (BoC) as expected boosted its benchmark overnight rate by 25 basis points to 4.5% on Wednesday morning, but somewhat surprisingly said it's going to at least temporarily pause on any future interest rate increases. "Inflation ...
Markets
Jan. 25, 2023

First Mover Americas: Did Binance Make Honest Error With Customers' Funds?

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 ...
Markets
Jan. 25, 2023

Bitcoin's Upswing Is Reminiscent of 2019 Bull Revival

Bitcoin ( BTC ) could be positioning for a big move higher if history is any guide, with a recent upswing paralleling the bull revival of mid-2019 that saw the price surge by almost 250%. The leading cryptocurrency by market value has jumped nea...
Markets
Jan. 25, 2023

Solana Liquid Staking Tool Marinade Looks to Bolster Its Token Value With Staked SOL Capture

The market leader for Solana-based liquid staking derivatives, Marinade Finance is dangling its governance token MNDE as a carrot to kickstart a crypto economy for its iteration of staked SOL. On Tuesday, Marinade said it will hand out 160 milli...
Markets
Jan. 25, 2023

Maple Finance Plots Comeback With New $100M Liquidity Pool for Tax Receivables With 10% Yield

Blockchain-based credit marketplace Maple Finance unveiled on Wednesday a new liquidity pool of trade receivables, the protocol’s first step in a new strategy to bring traditional financial investments onto the blockchain. The new USDC stablec...
Markets
Jan. 25, 2023

Cardano-Based Overcollateralized Stablecoin Djed to Launch Next Week

Cardano-based decentralized stablecoin Djed is on track for a launch next week, one of the developers behind the token  said Tuesday . The highly-anticipated Djed stablecoin has been jointly developed by Cardano code maintainer IOG and Coti...
Markets
Jan. 25, 2023

Dogecoin and Ether Lead The Crypto Market Pullback as Bulls Take a Breather

The crypto market slid in the past 24 hours as traders likely took profits after weeks of an uptrend. Ether and dogecoin led the slide among major tokens, falling more than 5%, Cardano's ADA and Polygon's MATIC dropped 4%, while bitcoin lost jus...
Markets
Jan. 25, 2023

First Mover Asia: Bitcoin Seesaws Above and Below $23K Again

Good morning. Here’s what’s happening: Prices: Bitcoin rises above $23K for the third time in four days. Other major cryptos are largely in the red. Insights: Despite bitcoin's most recent surge, a number of analysts are wary about its pa...
Markets
Jan. 24, 2023

Crypto Markets Today: Bitcoin Moves Sideways at $23K

Latest Prices Bitcoin ( BTC ): The largest cryptocurrency by market value was recently trading at $23,000, up 0.4% in the past 24 hours. The total volume of bitcoin options on Deribit rose to $4.25 billion last week , the highest point ...
Markets
Jan. 24, 2023

Date Set for Oral Arguments in Grayscale’s Appeal of SEC’s Bitcoin ETF Decision

The District of Columbia Court of Appeals has set a date to begin hearing oral arguments in Grayscale Investment’s appeal of the Securities and Exchange Commission’s (SEC) decision to deny the conversion of its Grayscale Bitcoin Trust (GBTC) into...
Markets
Jan. 24, 2023

First Mover Americas: Bitcoin's on a Tear, Up 30% in 2 Weeks

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 ...
Markets
Jan. 24, 2023

Bitcoin's Weekly Options Trading Volume Rises to Highest Since FTX's Meltdown

The crypto options market is recovering from the recent hangover of FTX's collapse that left several market makers and trading firms reeling. The total volume of bitcoin options on Deribit rose to $4.25 billion last week, the highest since Sam ...
Markets
Jan. 24, 2023

Bitcoin Breakout Has Opened Doors to $25K: Analysts

Bitcoin's (BTC) January price rally has analysts focusing on higher valuations last seen in mid-2022. The top cryptocurrency by market value has risen almost 40% to $23,000 this month, the steepest gain since October 2021, according to CoinDesk...
Markets
Jan. 24, 2023

Bitcoin Jumps to $23K, Looks Bullish as Miner Sales Hit Three-Year Low

Bitcoin (BTC) continues to gain ground as miners scale back sales of mined cryptocurrency. The biggest cryptocurrency by market capitalization rose past $23,000 early Tuesday, amounting to a 30% rally in two weeks, according to CoinDesk data . ...
Markets
Jan. 24, 2023

First Mover Asia: Ether Prices Fall Relative to Bitcoin

Good morning. Here’s what’s happening: Prices: Bitcoin holds steady near $23K for another day; ether remains above $1,600. Insights: The price of ether declines relative to bitcoin. Prices CoinDesk...
Markets
Jan. 24, 2023

Ether Turns Deflationary Again Led by Spike in NFT Sales

Ether has become deflationary – again – as the market attempts to rebound in 2023. Data from ultrasound.money shows ether’s net issuance, or the annualized inflation rate, has dropped to -0.07%, meaning the volume of ether being burnt is outpa...
Markets
Jan. 23, 2023

Crypto Markets Today: Bitcoin Holds Steady Near $23K; Gemini’s Job Cuts Continue

In at least its third round of layoffs since June, crypto exchange Gemini is shedding another 10% of its staff , according to an internal message viewed by The Information . This article originally appeared in Crypto Markets Today , Coin...
Markets
Jan. 23, 2023

Inflows Into Short Bitcoin Products Picked Up Alongside Rally: Coinshares

Crypto funds saw a total of $37 million inflows last week, with well over half going into “short” investment products, or those designed to profit from price declines. According to data from Coinshares , short-bitcoin investment products saw in...
Markets
Jan. 23, 2023

FTT Order Flow Fairly Balanced After 150% Rally, but Liquidity Remains Thin

The market for FTT, the native cryptocurrency of the now-bankrupt FTX exchange, appears to have found an equilibrium after the recent bullish price action. However, the market's ability to absorb large offers at stable prices remains weak, indica...
Markets
Jan. 23, 2023

First Mover Americas: Axie Infinity's Token Is Soaring

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 ...
Markets
Jan. 23, 2023

Bernstein: The Bounce in Cryptocurrencies Is a ‘Mean Reversion’ Rally

Recent crypto market strength is probably driven by a reversion to mean values, Bernstein said in a research report Monday, noting that bitcoin (BTC), the largest cryptocurrency by market capitalization, fell more than 65% last year. Mean revers...
Markets
Jan. 23, 2023

Crypto Gaming Token AXS Surges 40% Ahead of $64 Million Token Unlock

Play-to-earn giant Axie Infinity's AXS cryptocurrency is rallying despite the impending unlocking of millions of dollars worth of tokens. AXS has gained over 40% in the past 24 hours, reaching a four-month high of $13.94, according to CoinDesk ...
Markets
Jan. 23, 2023

Aptos Token Prices Double in Two Weeks Amid Strong NFT Interest

What bear market? Layer 1 blockchain Aptos’ APT tokens is up 250% in just 14 days even as the broader crypto market grapples with bankruptcies, lawsuits and a decline in overall sentiment. The tokens command a market capitalization of over $2.3...
Markets
Jan. 23, 2023

First Mover Asia: Bitcoin Surges Past $23K Before Retreating

Good morning. Here’s what’s happening: Prices: Bitcoin continued its 2023, jumping past $23,000 for the first time since August before retreating to trade at about $22,750. Insights: Microsoft effectively exited the metaverse. Will Apple ...
Markets
Jan. 20, 2023

Crypto Markets Today: Bitcoin Surges Above $22K, Genesis Has Over $5B in Liabilities

Crypto lending firm Genesis held $5.1 billion in liabilities in the weeks following its freeze on withdrawals in November, according to bankruptcy court documents signed by interim CEO Derar Islim. This article originally appeared in Crypt...
Markets
Jan. 20, 2023

Binance Garnered Largest Market Share of Crypto Investors From Emerging Markets in 2022

Countries riddled with inflation are always seeking alternative means to safeguard their money from devaluing currencies. Crypto exchange Binance capitalized on this trend last year, largely because of its easy accessibility for retail investors ...
Markets
Jan. 20, 2023

Bitcoin Soars Over $22K to Reach Four-Month High

Bitcoin soared past $22,000, its highest level since mid-September, as the broader cryptocurrency market continued its unexpected 2023 rally. The largest cryptocurrency by market capitalization was recently trading as high as $22,387, up 5.4% ov...
Markets
Jan. 20, 2023

Crypto Analysts Warn Against Shorting DYDX Ahead of $200M Token Unlock

Perpetuals-focused decentralized exchange dYdx is set to unlock 150 million or about $200 million worth of its native token DYDX on on Feb. 2, which could be a potential shorting opportunity for traders. However, the supply release is not nec...
Markets
Jan. 20, 2023

First Mover Americas: Bitcoin, Ether Rise Slightly After Genesis' Chapter 11 Filing

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 ...
Markets
Jan. 20, 2023

Bitcoin, Ether Hold Steady After Genesis' Bankruptcy, Crypto Traders Say Bad News Was Priced In

"It is incredible to see how bitcoin has reacted to the Genesis Bankruptcy news," a famous crypto observer tweeted Monday , marveling at the top cryptocurrency's muted reaction to one of the largest institutional firm's crypto lending business ...
Markets
Jan. 20, 2023

First Mover Asia: Bitcoin Returns to Its Winning Ways

Good morning. Here’s what’s happening: Prices: After dipping early Thursday, bitcoin returned to the green; other major cryptos also rose. Insights: Cobo, the asset management platform, is adopting a key tenet of traditional finance – a d...
Markets
Jan. 20, 2023

Solana Blockchain SOL Token Doubles From FTX-Crash-Induced Lows, but Will It Continue to Rebound?

One of the hardest-hit tokens of 2022 has been an upbeat story this year. SOL , the native currency of the Solana blockchain, has doubled its price since mid-December to hover around $21, reaching as high as $24 earlier this week, roughly where...
Markets
Jan. 19, 2023

Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin

Stablecoin issuer Paxos proposed paying a steady fee to decentralized finance giant MakerDAO for holding up to $1.5 billion of Pax USD ( USDP ) stablecoin among its reserves. According to a proposal posted in Maker’s governance forum on Thur...
Markets
Jan. 19, 2023

Crypto Markets Today: Bitcoin Rides Over $21K, FTX's Possible Revival

The new head of FTX is exploring the possibility of restarting the bankrupt crypto exchange , according to an interview he gave to the Wall Street Journal , his first since taking over at FTX in November. This article originally appeared in ...
Markets
Jan. 19, 2023

Bitcoin Holds Steady Near $21K Even as Equities Slide

Bitcoin held steady near its most recent $21,000 perch, and a leading crypto analyst said the market had already priced in the looming bankruptcy filing of crypto brokerage Genesis Global Capital and other recent industry debacles stemming from...
Markets
Jan. 19, 2023

MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves

Decentralized finance giant MakerDAO ’s community voted for keeping Gemini USD (GUSD) stablecoin as part of the protocol’s reserve system for its DAI stablecoin in a dramatic vote that flipped at the finish line. In a poll that concluded Thur...
Markets
Jan. 19, 2023

Crypto Trading Giant QCP Capital Expects Fed to Be Irate as Financial Conditions Ease

"Don't fight the Fed" has been one of the most voiced mantras on Wall Street. Yet, that's precisely what investors have done in recent weeks. Despite the Federal Reserve's (Fed) repeated warnings of continued liquidity tightening ahead, ther...
Markets
Jan. 19, 2023

First Mover Americas: BTC, ETH Drop Amid Genesis Bankruptcy Reports

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 ...
Markets
Jan. 19, 2023

Avalanche DEX Trader Joe Plans to Make its Tokens More Valuable for Users

Trader Joe, a decentralized exchange (DEX) on the Avalanche blockchain, has announced plans to bolster the utility of its native governance token JOE and other ecosystem tokens, developers wrote Thursday. Developers plan to bridge JOE tokens o...
Markets
Jan. 19, 2023

Bitcoin Bridged to Avalanche Surpasses BTC Locked in Lightning Network

The number of bitcoin (BTC) bridged or ported from the Bitcoin blockchain to the Avalanche smart contract blockchain has surpassed the tally of coins held in the Lightning Network , a second-layer solution for Bitcoin's scalability problems. On...
Markets
Jan. 19, 2023

OKX Publishes Proof-of-Reserves Report Showing $7.5B in ‘Clean Assets’

OKX has $7.5 billion in reserves, and these reserves do not contain its native token, according to a proof of reserves published by the exchange on Thursday. This is the third proof of reserves OKX has published, but the first to show the exact ...
Markets
Jan. 19, 2023

Ether, Bitcoin Long Traders See $110M Liquidations on Bitzlato Induced Volatility

A notice on the U.S. Justice Department’s website about an oncoming crypto-related effort resulted in a steep sell-off on Wednesday, causing bitcoin (BTC) and ether (ETH) to dip under newly-breached support levels before slightly recovering. The...
Markets
Jan. 19, 2023

First Mover Asia: FTX’s Illiquid Holdings Filled With Tokens That Sit in Venture Funds in Which It Invested; Bitcoin Falls Below $21K

Good morning. Here’s what’s happening: Prices: Bitcoin and ether spend their Wednesday in the red. Insights: Embattled crypto exchange FTX and several venture capital firms hold a ton of illiquid tokens such as Serum (SRM). Prices ...
Markets
Jan. 18, 2023

Crypto Markets Today: Bitcoin Falls Below $21K; Genesis Nears Bankruptcy Filing; Bitzlato Founder Arrested

Genesis Global Capital, the institutional crypto brokerage whose lending unit halted customer withdrawals in the aftermath of FTX's failure, is laying the groundwork for a bankruptcy filing , according to reports. This article originally appea...
Markets
Jan. 18, 2023

MakerDAO Favors Holding GUSD Stablecoin as Part of Reserve in Early Voting

Decentralized finance giant MakerDAO's community was heavily favoring keeping Gemini’s GUSD stablecoin as part of Maker’s reserve in an ongoing vote that is testing confidence in Gemini, the Winklevoss-founded exchange that has been swept up in r...
Markets
Jan. 18, 2023

Lido’s Total Value Locked Spiked 33% In Past Month, Becoming Largest DeFi Protocol by TVL, Says DeFiLlama

The forerunner of the liquid staking derivatives market , Lido became the largest decentralized finance (DeFi) app by total value locked (TVL) earlier this month, surpassing MakerDAO. Lido’s claim to the throne comes after a period of steady gr...
Markets
Jan. 18, 2023

Bitcoin Tumbles From Multi-Month High on DOJ Worry, Hawkish Fed

Just two hours after surging to a four-month high of about $21,550, the price of bitcoin ( BTC ) has tumbled nearly $1,000, now down 2.6% to $20,600. More than $107 million was liquidated across crypto derivatives markets during the quick plun...
Markets
Jan. 18, 2023

Bitcoin Erases Entire FTX-Related Decline in Latest Surge

Bitcoin ( BTC ) has risen to $21,550 early Wednesday, surpassing the level at which it stood on Nov. 5 last year just prior to the collapse of crypto exchange FTX. According to CoinDesk data , the price of bitcoin is now at its highest since mid...
Markets
Jan. 18, 2023

First Mover Americas: Crypto Winter Chills at Digital Currency Group, Coinbase

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 ...
Markets
Jan. 18, 2023

DeFi Protocol Thena Sees Total Value Surge to $90M in a Week

Thena, a liquidity layer and decentralized exchange (DEX) on the BNB Chain, has experienced a massive uptick in total value locked (TVL) to $90 million from $5 million since its launch last week. The protocol offers yields of up to 9.93% for liq...
Markets
Jan. 18, 2023

Crypto Observers Maintain Risk On Bias as US Debt Ceiling Nears

Last week, U.S. Treasury Secretary Janet Yellen warned that the government would reach its statutory debt limit of $31.4 trillion on Jan. 19. Understandably, that's scary and might force crypto investors to reconsider the sustainability of bi...
Markets
Jan. 18, 2023

SHIB Surges 20%, DOGE up 5% as Traders Continue to go Ape for Meme Coins

The market’s love affair for all things Shiba Inu is continuing, with big gains in SHIB and DOGE during the last 24 hours. The Shiba Inu (SHIB) token is up over 20% in the last 24 hours, according to CoinGecko data , with Nansen reporting heavi...
Markets
Jan. 18, 2023

First Mover Asia: Bitcoin Hangs Tough Over $21K for Another Day

Good morning. Here’s what’s happening: Prices: Bitcoin traded above $21,000 for a fourth consecutive day. Insights: Why are tokens for metaverse majors rallying when the platforms are struggling to keep users engaged? Prices ...
Markets
Jan. 17, 2023

Crypto Markets Today: Bitcoin Holds Strength Above $21K, Congress' FTX Problem

More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from one of the senior executives of the fraud-ridden crypto giant, according to ...
Markets
Jan. 17, 2023

First Mover Americas: Three Arrows' Founders Take Slingshot From Crypto Community

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 ...
Markets
Jan. 17, 2023

Buyers From Coinbase Powered Bitcoin Higher or Did They?

Bitcoin (BTC) has gained nearly 28% this month, hitting the highest since early November. The popular narrative on Crypto Twitter is that traders from Coinbase (COIN) have powered the cryptocurrency higher. However, the Nasdaq-listed exchange h...
Markets
Jan. 17, 2023

BNB Chain Burns Over $500M in BNB Tokens

BNB Chain has completed the burn of over $500 million worth of its native BNB tokens as part of a broader program, it said Tuesday. The burn was executed at around 0800 UTC on Tuesday morning in transaction 34167E903B9F662A64817266D8A6CE4FE096...
Markets
Jan. 17, 2023

First Mover Asia: Bitcoin Tops $21.3K as Cryptos' 2023 Feel-Good Story Continues

Good morning. Here’s what’s happening: Prices: Bitcoin soared past $21.3K for the first time since early November before retreating slightly. But BTC remained in the green in Monday trading. Insights: The surge in FTX's FTT token defies ...
Markets
Jan. 16, 2023

DeFi Protocol Sushi Lays Out 2023 Plans With Focus on DEX and User Experience

Popular decentralized-finance ( DeFi ) application Sushi's CEO laid out the protocol's 2023 roadmap with focus on user experience and said Sushi will release its decentralized exchange (DEX) aggregator in the first quarter. The protocol will foc...
Markets
Jan. 16, 2023

First Mover Americas: Bitcoin Tops $21K, Outshines S&P 500, Gold

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 ...
Markets
Jan. 16, 2023

Options Flip to Show Stronger Bitcoin Into July

Expectations for bitcoin's (BTC) price over the next six months have turned positive after a long time, in another sign of confidence in the cryptocurrency's latest bull revival. Bitcoin's 180-day call-put skew has crossed above zero for the fir...
Markets
Jan. 16, 2023

Bitcoin Surge Causes Over $500M in Liquidations, Highest in 3 Months

Crypto markets surged to regain the $1 trillion market capitalization mark over the weekend amid signs of bottoming and a record number of short liquidations contributing to the uptick. Nearly $500 million in shorts, or bets against higher price...
Markets
Jan. 16, 2023

First Mover Asia: Bitcoin Surges on Inflation Tailwinds, Hovers Near $21K

Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other, major cryptos continue to surge in weekend trading. Insights: Ark Invest's Cathie Wood is correct in thinking that, despite market uncertainty, disruptive innovation...
Markets
Jan. 14, 2023

Bitcoin Retakes $20K, Leading as Broad Crypto Rally Continues

Bitcoin's ( BTC ) 2023 surge continues, with the crypto now above $20,000 for the first time since the FTX collapse in early November. The largest cryptocurrency by market capitalization started the week near the $17,000 mark after hovering in t...
Markets
Jan. 13, 2023

Crypto Markets Today: Bitcoin Finishes Best Week Since March; Solana’s Bonk Barks

In the past few weeks, a Shiba inu-themed token took center stage in the Solana ecosystem as sentiment around the blockchain network took a hit in the aftermath of the Sam Bankman-Fried and FTX debacle. CoinDesk's Shaurya Malwa took a closer loo...
Markets
Jan. 13, 2023

Left For Dead Crypto Names Roar Higher as Bitcoin Bounces

With nearly the entire universe of publicly-traded crypto stocks down 70%-90% or even more in 2022, just a little bit of life in bitcoin (BTC) this week has led to outsized sector gains. Trading at $19,370 at press time, bitcoin (BTC) is higher ...
Markets
Jan. 13, 2023

First Mover Americas: SEC Targets Gemini, Genesis

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 ...
Markets
Jan. 13, 2023

Decentraland’s MANA Token Jumps as Metaverse Tokens Outperform Crypto Markets

The native token of Metaverse project Decentraland (MANA) surged as metaverse tokens became the best performing assets since the start of this year. MANA’s price increased 12% in the past 24 hours and was trading at 44 cents at press time. The...
Markets
Jan. 13, 2023

Bitcoin's 'Volatility Smile' Shows Increased Demand for Bullish Exposure

Bitcoin's (BTC) recent double-digit rally has sparked a positive sentiment shift among crypto options traders. The leading cryptocurrency by market value has gained 13% this month, topping the $19,000 mark for the first time since Nov. 8, CoinD...
Markets
Jan. 13, 2023

Bitcoin Cash Jumps 10% Ahead of Optimistic May Hard Fork

Bitcoin Cash (BCH) prices surged nearly 10% in the past 24 hours as traders shed light on potential network changes ahead of the protocol’s May hard fork. BCH broke above resistance levels of $108 to as much as $125 on Friday, price charts data ...
Markets
Jan. 13, 2023

Crypto Traders Are Already Placing Bets on Ethereum’s 'Shanghai Hard Fork'

Ethereum’s historic shift last year to a proof-of-stake network – known as “ the Merge ” – was one of the biggest stories of the year in crypto markets. Now all eyes are on Ethereum’s next major upgrade expected to take place in March, known as ...
Markets
Jan. 13, 2023

First Mover Asia: What's Next for Bitcoin After Biggest One-Day Price Pop in 2 Months?

Good morning. Here’s what’s happening: Prices: Bitcoin ( BTC ) posted its biggest one-day return in two months, shooting up 5% to surpass the $19,000 level . Insights: Security firms such as OpenZeppelin say blockchain bridges can benefi...
Markets
Jan. 12, 2023

Crypto Markets Today: Bitcoin Tops $19K, Blockchain.com Cuts Jobs, Sam Bankman-Fried Blogs

Sam Bankman-Fried, the disgraced former chief of FTX, denied stashing away billions of dollars and gave his take on what happened to his bankrupt crypto exchange in a lengthy new post on Substack published Thursday. This article originally ap...
Markets
Jan. 12, 2023

Bitcoin Pushes Near $19K For First Time Since FTX Collapse

Quiet for most of the session following this morning's in line inflation report, an early afternoon advance has brought bitcoin ( BTC ) to $18,800, up 7% for the day and it's highest level since it was gapping down in early November as crypto exc...
Markets
Jan. 12, 2023

First Mover Americas: Crypto Markets Primed for Soft CPI

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 ...
Markets
Jan. 12, 2023

Short Traders Suffer $200M in Losses as Ether, Cardano Lead Crypto Majors' Gains

Traders betting on a market-wide decline were caught offside as a broad recovery in the past 24 hours saw some $200 million in shorts, or bets against price rises, getting liquidated. The amount added to the more than $150 million in shorts liqu...
Markets
Jan. 12, 2023

Ether Hits Two-Month High Ahead of US CPI; Market Breadth Remains Weak

Ethereum's native token ether (ETH) rallied to a two-month high on Thursday, shrugging off the cautious tone in the U.S. stock futures. The second-largest cryptocurrency rose nearly 1% to $1,415, the highest since Nov. 8, taking the month-to-dat...
Markets
Jan. 12, 2023

First Mover Asia: The Next Avraham Eisenberg Isn’t Going to Be a ChatGPT Powered ‘Script Kiddie’

Good morning. Here’s what’s happening: Prices: Bitcoin was higher for the 10th time in 12 days, pushing $18K for first time since mid-December, in a mostly green Wednesday. Insights: The Next Avraham Eisenberg Isn’t Going to Be a ChatGPT ...
Markets
Jan. 11, 2023

Crypto Markets Today: FTX Finds $5B, Bitcoin Extends Rally

Crypto exchange FTX has recovered more than $5 billion in different assets , not including another $425 million in crypto held by the Securities Commission of the Bahamas, a bankruptcy attorney said during a hearing Wednesday. This article ori...
Markets
Jan. 11, 2023

SingularityNET’s AGIX Leads AI-Focused Token Pump Narrative in New Year

The hot news surrounding the artificial intelligence (AI) tool ChatGPT is also inspiring an upsurge in AI-focused tokens in the crypto market. Bloc