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Markets
Dec. 01, 2023

North Korean Hackers Lazarus Group Stolen $3B in Cryptocurrency

(Soohwan Oh, CoinDesk Korea) - North Korea-linked hacker organization Lazarus Group has stolen $3 billion in cryptocurrency over the past six years, according to a report by cybersecurity firm Recorded Future. The report released on Thursd...
Markets
Dec. 01, 2023

Bitcoin Rises to $38.8K for the First Time Since May 2022

Bitcoin rose to $38,800 for the first time since May 2022 during European morning hours on Friday, continuing its strong multi-month uptrend buoyed by expectations of institutional demand. The asset added nearly 3% in the past 24 hours, mirrorin...
Markets
Nov. 30, 2023

NFT Prices Are Still Lagging Behind Ether's Gains

Ether, and crypto broadly, have posted gains of more than 10% since the start of the year, while NFT prices are trailing. Stakeholders and analysts say utility and technological development are needed to bring growth Crypto is inching toward ...
Markets
Nov. 29, 2023

Liquid Staking Tokens Are a Hot Ticket for 2024

Twenty-six billion dollars. That’s how much money is currently deposited into liquid staking token (LST) protocols, by far the biggest category in decentralized finance (DeFi). And, of course, it is expected to grow even further. Liquid staking ...
Markets
Nov. 29, 2023

Solana Leads Layer-1 Token Gains as Bitcoin Crosses $38K

Bitcoin broke above the $38,000 level in Asian morning hours on Wednesday as hopes around a spot exchange-traded fund (ETF) approval were revived earlier this week, and traditional market watchers expected rate cuts. Solana’s SOL tokens led ga...
Markets
Nov. 28, 2023

Bitcoin Pushes Above $37.7K on Dovish Comments From Fed's Waller

Recent data suggesting a slowdown in the economy and continuing moderation in inflation means U.S. Federal Reserve policy is in the right spot, said Fed Governor Chris Waller, speaking at an event in Washington, D.C. "Something appears to be g...
Markets
Nov. 28, 2023

CME-Listed Bitcoin, Ether Futures Flash a Rare Bullish Signal

The gap between prices for BTC and ETH's "next month" and "front month" futures surged last week to the highest since 2021. The so-called contango indicates bullish sentiment in the market. A rare pattern recently emerged in the Chicago Merca...
Markets
Nov. 28, 2023

Crypto Trading Firm Kronos Research Offers 10% Bounty to Hacker

Taipei-based cryptocurrency trading and investment firm Kronos Research has opened doors for negotiations with a hacker who made off with $25 million of the firm's treasury early this month. In a message to the hacker, Kronos said, send back 90...
Markets
Nov. 27, 2023

Cosmos Founder Calls For Chain Split, ATOM Down 3%

Cosmos' founder Jae Kwon favours splitting the blockchain into two following a decision by the community to reduce Cosmos' native token ATOM's inflation to 10%. The hard fork, dubbed AtomOne, could be bullish for ATOM token, according to one ob...
Markets
Nov. 24, 2023

Bitcoin's 3-Week Consolidation Under $38K Has Bullish Undertone

Bitcoin's three-week consolidation below $38,000 has a bullish undertone of shallow price dips, a positive sign, one observer said. Seasonality is supportive of continued gains in bitcoin's price in December. Bitcoin's [BTC] price rally has s...
Markets
Nov. 23, 2023

Bitcoin Supply Inactive For a Year Hits Record High of 70%

The percentage of Bitcoin's [BTC] circulating supply that was last active on-chain at least a year ago has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July, according to data tracked by blockchain analytics firm Gl...
Markets
Nov. 22, 2023

Why On-Chain Transaction Is the Key Blockchain Indicator

On-chain transaction volume is the pulse of blockchain networks. For digital asset investors, monitoring these flows within the network and comparing them across protocols is a way to ascertain adoption rates and utility of the protocol, and dete...
Markets
Nov. 22, 2023

First Mover Americas: Binance, Binance, 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 Binance, the w...
Markets
Nov. 21, 2023

Bitcoin Buffeted Than Bounces on Binance/U.S. Settlement Report

Cryptocurrency markets were sharply lower on Tuesday as fading excitement about imminent approval of a spot bitcoin ETF was replaced with the reality of the continued regulatory crackdown in the U.S. The DOJ announced "significant cryptocurrency...
Markets
Nov. 21, 2023

Fed Minutes Release May Be a Non-Event for Bitcoin

The minutes of the Nov. 1 Fed meeting might look outdated and potential hawkish commentary may not affect markets, including bitcoin. Post-meeting weakness in U.S. economic data has convinced traders that the Fed's rate-hike cycle has ended. ...
Markets
Nov. 20, 2023

Bitcoin Fundamentals Have Never Looked Better: Bernstein

Bitcoin [BTC] is expected to emerge as a global macropolitical asset with a more-than $3 trillion market cap, quadrupling by mid-2025, broker Bernstein said in a research report Monday. Bernstein says the cryptocurrency’s fundamentals have never...
Markets
Nov. 20, 2023

OpenAI CEO Drama Makes a Market for Blockchain Betters

Nobody knows why Sam Altman was forced out of OpenAI. But betters on decentralized prediction platform Polymarket are putting their money where their mouth is when they take a guess. Over the weekend, Altman, the Chief Executive of the multi-bil...
Markets
Nov. 20, 2023

Javier Milei Wins Argentine Presidency; Bitcoin Gains Nearly 3%

The next president of Argentina will be Javier Milei as his opponent Sergio Massa conceded on Sunday evening, saying "Argentines chose another path." With roughly 87% of the votes counted, Milei has 56% of the tally versus Massa's 44%, according...
Markets
Nov. 17, 2023

First Mover Americas: Avalanche and Near Lead Weekly Gains

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 Avalanche’s AV...
Markets
Nov. 17, 2023

Here Are 3 Charts Supporting the Bull Case for Bitcoin

The global central bank tightening cycle that rocked financial markets, including bitcoin, last year seems to have peaked. U.S. financial conditions have eased despite the Fed's higher-for-longer interest-rate mantra. The U.S. 10-year Treasury...
Markets
Nov. 16, 2023

Bitcoin Could Reach $45K by Year-End, Analyst Says

Bitcoin will reach $40,000 – if not even $45,000 – by the year’s end, DeFi Research’s Markus Thielen said. Thielen explained that options market flows and dovish Fed expectations are likely to power the cryptocurrency higher into the year’s end...
Markets
Nov. 15, 2023

DYDX Pumps Ahead of Massive $500M Token Unlock

DYDX, the native token of the newly-released dYdX chain, has risen by more than 20% in the past 24 hours, just 16 days before more than $500 million worth of tokens will be unlocked to early investors and core team members. The surge in the DYD...
Markets
Nov. 14, 2023

U.S. CPI Unexpectedly Flat in October; Bitcoin Adds Nearly 1%

U.S. inflation data for October was better-than-hoped, with the headline Consumer Price Index (CPI) flat for the month versus economist forecasts for a rise of 0.1%. The core rate rose just 0.2%, beating expectations for 0.3%. Checking all the n...
Markets
Nov. 14, 2023

Reddit Token MOON Rockets 150% Amid Hopes of Revival

Prices of MOON token, which is tied to the shuttered Community Points program of Reddit, more than doubled over the past 24 hours, as some moderators banded to revive the project and continue it independently. “We received a solid response and...
Markets
Nov. 13, 2023

CPI Report Tuesday Could Provide Next Bitcoin Catalyst

After a major five-week run that took its price nearly 40% higher, bitcoin [BTC] has stalled for the past several days around the $37,000 area. To the extent that enthusiasm around possible approval of a spot bitcoin ETF has run out of some fuel,...
Markets
Nov. 13, 2023

The Crypto Market Rally Looks Overdone, JPMorgan Says

Excitement about the potential approval of spot bitcoin exchange-traded-funds (ETF) has fueled a strong rally in digital assets over the past month, but the move higher seems overdone, JPMorgan (JPM) said in a research report last week. Bullis...
Markets
Nov. 09, 2023

First Mover Americas: Bitcoin Climbs to Almost $37K

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 prices...
Markets
Nov. 09, 2023

U.S. Crypto Stocks Ride BTC Momentum in Pre-Market Trading

Shares of U.S. crypto-centric companies were ticking upwards in pre-market trading after bitcoin's (BTC) price rose to the highest level since May 2022 . BTC climbed above $36,000 for the first time in around 18 months during Asian trading hour...
Markets
Nov. 09, 2023

Exploring The Two 'Overlooked' Bullish Tailwinds for Bitcoin

The U.S. Treasury recently announced a slower-than-expected pace of 10-year and 30-year bond sales, capping the upside in the 10-year yield, a positive outcome for cryptocurrencies and other assets. Bitcoin’s safe-haven appeal has strengthened ...
Markets
Nov. 09, 2023

Bitcoin Tops $36K as 'ETFs Not Yet Priced in'

The price of bitcoin [BTC] briefly touched $36,000 before settling slightly lower during the Asian trading hours on Thursday, according to CoinDesk Indices data. Bitcoin is up around 30% in the last month, and 93% over the past year. Other lar...
Markets
Nov. 08, 2023

Bitcoin Breakout Toward $45K 'Imminent' Says Matrixport

Bitcoin is increasingly coiled below $36,000, supported by consistent buying activity during U.S. hours. LINK and MATIC gained 10%, most among large-cap altcoins. Bitcoin's "Santa Claus rally" could start any moment amid accommodating macro pi...
Markets
Nov. 08, 2023

Why an Ether Staking Rate Will Increase Crypto Adoption

Ethereum’s conversion to proof-of-stake not only created the foundation for the liquid staking ecosystem, it delivered a native crypto rate to finance that can serve as a critical piece of market structure. The staking rate – measuring the total ...
Markets
Nov. 08, 2023

First Mover Americas: Binance Unveils Self-Custody Wallet

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 Binance has ...
Markets
Nov. 07, 2023

Coinbase Ending Support for Bitcoin SV

Coinbase (COIN) is telling its users to take their Bitcoin SV [BSV] off the platform by January 9 or face liquidation. “If you fail to withdraw your BSV funds, Coinbase will liquidate any remaining BSV remaining in your Coinbase account,” the no...
Markets
Nov. 06, 2023

XRP, LINK, DOGE Lead Altcoin Gains as Bitcoin Sits at $35K

BTC was little changed while large-cap altcoins gained 5%-10% in a broadening crypto rally. A decline in bitcoin's market cap dominance is a sign of investors' riskier market stance, one analyst said. ByteTree analysts hinted at early signs of...
Markets
Nov. 06, 2023

First Mover Americas: FTX Wants to Sell Its GBTC

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 Bankrupt crypt...
Markets
Nov. 06, 2023

XRP Spikes 10% as Several Institutions Adopt Ripple’s Services

XRP has spiked in the past 24 hours to become the top-performing crypto majors, as bitcoin [BTC] and ether [ETH] held steady. Prices rose over 11% before slightly retreating on Monday, with trading volumes spiking to $2 billion from Sunday’s $1 ...
Markets
Nov. 06, 2023

SOL Drops 5% as FTX Estate Transfers Tokens to Binance, Kraken

The FTX estate moved 750,000 in Solana [SOL], worth about $30 million, to crypto exchanges Binance and Kraken on Monday, the first step ahead of a possible sale, driving the price down 5% over 24 hours. So far, the bankrupt crypto exchange's es...
Markets
Nov. 03, 2023

What Happens to Bitcoin Price if Spot ETF Isn’t Approved?

It's not surprising that analysts expect to see negative short-term price action if a bitcoin spot ETF is rejected by the SEC. Analysts, however, pointed out that bitcoin certainly doesn't hinge its existence on an ETF. While markets appear t...
Markets
Nov. 03, 2023

Bitcoin Recedes to $34.2K Ahead of U.S. Nonfarm Payrolls Data

Bitcoin [BTC] is on the back foot ahead of the key U.S. data release, which could bring pain to risk assets, including cryptocurrencies. At press time, bitcoin was changing hands at $34,235, representing a 2% drop on the day, CoinDesk data show....
Markets
Nov. 03, 2023

Solana's Rally Marshalled by Buyers From Coinbase, Data Shows

Solana’s SOL has rallied over 50% in two weeks, with Nasdaq-listed digital assets exchange Coinbase (COIN) proving to be a significant source of bullish pressures for the cryptocurrency, according to data tracked by Paris-based Kaiko. Since Oct....
Markets
Nov. 02, 2023

Here's Why Bitcoin Will 10X From Here: Michael Saylor

"You can never have too much bitcoin [BTC]," said Michael Saylor, appearing on CNBC one day after his company MicroStrategy (MSTR) reported its third-quarter earnings . That Saylor is a bitcoin bull will not exactly come as breaking news, but...
Markets
Nov. 01, 2023

Federal Reserve Leaves Rates Unchanged; Bitcoin Flat at $34.5K

In a widely anticipated move, the U.S. Federal Reserve's Federal Open Market Committee (FOMC) Wednesday left its benchmark fed funds rate range steady at 5.25%-5.50%. "Tighter financial and credit conditions for households and businesses are lik...
Markets
Nov. 01, 2023

Why Momentum Trading Works In Crypto

Cryptocurrency markets have emerged as a highly dynamic, global financial market offering unparalleled opportunities for both active traders and investors alike. With the introduction of our CoinDesk Trend Indicator suite of signals, we hope to a...
Markets
Nov. 01, 2023

Raging Bitcoin Bull Market Ahead, According to Key Indicator

The Bitcoin [BTC] bull move could soon run wild, bringing a steep multi-week uptrend in the leading cryptocurrency. That's the message from bitcoin's 14-week relative strength index (RSI), a momentum indicator used to measure the speed and chang...
Markets
Nov. 01, 2023

Frax Finance Says its Domain Name Has Been Hijacked

Decentralized cross-chain protocol Frax Finance 's domain was hijacked early Wednesday, and while the site currently points to the correct nameserver and loads the real Frax user interface, it can't figure out what exactly happened. "The curren...
Markets
Oct. 31, 2023

AI-Related Tokens Stumble After White House Executive Order

President Joe Biden yesterday delivered the long-awaited Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence aimed at potential threats posed by artificial intelligence (AI). "Artificial intellig...
Markets
Oct. 31, 2023

First Mover Americas: Solana’s SOL Gains 50% in October

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 Solana’s SOL o...
Markets
Oct. 31, 2023

Crypto Market Breadth Widens, Signals Bullish Momentum

Bitcoin [BTC], the leading cryptocurrency by market value, has gained nearly 27% this month, registering its most significant single-month percentage rise since January. A swath of alternative cryptocurrencies is following BTC’s lead, according ...
Markets
Oct. 31, 2023

Unibot Token Hurtles 25% as Telegram Bot Exploited for $630K

Telegram trading bot Unibot said it would reimburse any stolen funds after being the victim of a token approval exploit that drained the protocol for over $600,000. We experienced a token approval exploit from our new router and have paused our...
Markets
Oct. 31, 2023

Bitcoin Holds Steady Above $34K After Hawkish BOJ Decision

Bitcoin (BTC) continues to trade above $34,000 after the Bank of Japan (BOJ) softened its grip on the “yield curve control” (YCC) program, counteracting the Federal Reserve’s liquidity tightening. At press time, the leading cryptocurrency by m...
Markets
Oct. 30, 2023

OKX Latest Proof of Reserves Shows Exchange Over-collateralized

It's the one-year anniversary of Proof of Reserves (PoR) becoming a post-FTX industry norm, and OKX's latest published PoR shows the exchange has $12.5 billion in assets and is over-collateralized. OKX's now 12-long series of PoRs shows the ex...
Markets
Oct. 30, 2023

First Mover Americas: Bitcoin Ticks Along Above $34K

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
Oct. 30, 2023

Bitcoin Whales Take Charge as Number of $100K Transactions Surge

Bitcoin's (BTC) onchain activity suggests whales, or investors with ample capital supply and the ability to influence market trends, have been active during the cryptocurrency’s recent move above $35,000. The number of transactions processed on ...
Markets
Oct. 27, 2023

Bitcoin Surges to All-Time Highs in Turkey and Nigeria

Declining national fiat currencies and a generally unstable economy have helped propel bitcoin (BTC) to all-time high prices in Turkey and Nigeria, despite the asset trading 50% below its peak in the U.S. dollar terms. Recent price surges have c...
Markets
Oct. 26, 2023

What Happens to GBTC Discount When FTX Sells its Holdings?

Bankrupt crypto exchange FTX owns around $417 million of Grayscale’s Bitcoin Trust (GBTC), according to a court filing , and analysts are speculating over what this means for the price of the fund when the estate winds down those holdings. Curr...
Markets
Oct. 26, 2023

Dogecoin, Shiba Inu Jump 9% as Crypto Traders Take Riskier Bets

Popular meme tokens dogecoin (DOGE) and shiba inu (SHIB) jumped some 9% in the past 24 hours, which suggests crypto traders are taking riskier bets on the back of bitcoin’s (BTC) outperformance. Although there were no immediate catalysts for SHI...
Markets
Oct. 25, 2023

Are Rising Yields Putting the Squeeze on DeFi?

In the ever-evolving world of digital assets, Ethereum is facing the squeeze of diminishing demand amid rising U.S. Treasury yields. This is evident in the ether (ETH) staking rate, which is the reward paid to validators to support the operation ...
Markets
Oct. 25, 2023

Millions in Ether, Chainlink Linked to FTX and Alameda Moved

Millions of dollars worth of various tokens tied to the crypto wallets of bankrupt firms FTX and Alameda Research moved to other wallets earlier on Wednesday, on-chain firm Nansen tweeted. These funds seemed to be sent to wallets of crypto excha...
Markets
Oct. 25, 2023

Crypto Fear & Greed Index Hits Highest Since November 2021

A key gauge of investor sentiment suggests the crypto market may take a bull breather. The Crypto Fear & Greed Index has jumped to 70.6 , the highest since November 2021, according to data source alternative.me. The index, which ranges from...
Markets
Oct. 24, 2023

First Mover Americas: Bitcoin at $34.5K on ETF Excitement

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 briefly ...
Markets
Oct. 24, 2023

Bitcoin Bears Lose $178M as Prices Break Past $34K

Bearish bets on bitcoin (BTC) have cost traders over $178 million in the past 24 hours as prices soared past a critical resistance level. The jump in bitcoin prices came as a ticker registration bumped hopes of an oncoming spot bitcoin exchange-t...
Markets
Oct. 23, 2023

Michael Saylor's $4.7B Bitcoin Bet Back in the Green

The bitcoin [BTC] holdings of MicroStrategy (MSTR) have again turned profitable as prices pushed towards $31,000 on Monday morning. The company's stash was deeply in the red late in 2022 as bitcoin slumped nearly 80% from its November 2021 peak,...
Markets
Oct. 23, 2023

‘First Uniswap Token’ HayCoin Price Jumps to $3M Per Token

The first coins ever floated as an experiment by the creator of the decentralized exchange Uniswap are now trading at more than $3 million per token (yes, that's not a typo), with a supply of just 4.4 tokens. The original tokens were released by...
Markets
Oct. 23, 2023

Bitcoin Eyes $31K as Gold Offers Bullish Cues

Bitcoin (BTC) continues to gain ground, taking bullish cues from traditional rate-sensitive assets like gold. The leading cryptocurrency by market value rose to $30,797 during Monday’s Asian trading hours, reaching the highest since July 15, acc...
Markets
Oct. 20, 2023

MultiversX's EGLD Token Rallies on Partnership With Google Cloud

The native token of metaverse-focused blockchain MultiversX , EGLD, spiked almost 10% after the network announced a partnership with the cloud division of Google, a unit of tech giant Alphabet (GOOG). EGLD jumped to just over $26 from under $2...
Markets
Oct. 20, 2023

Bitcoin Inches Closer to $30K as ETF Hope Drives Bulls

Bitcoin (BTC) climbed to highs of $29,300 in the past 24 hours, extending its weekly gains to over 9% as bullish sentiment around a possible spot bitcoin exchange-traded fund (ETF) approval in the U.S. gained momentum. Tokens formed by the forki...
Markets
Oct. 19, 2023

Bitcoin Eyes $29K, Defying Fresh Crypto Lawsuit, Rate Fears

Bitcoin [BTC] was holding a modest gain at $28,600 midday Thursday despite news that might have been expected to send the crypto sharply lower. The state of New York earlier today filed a lawsuit against Digital Currency Group, its subsidiary ...
Markets
Oct. 19, 2023

The Crypto Winter May Be Over: Morgan Stanley Wealth Management

The crypto winter may be over, Morgan Stanley Wealth Management said in a post on its website examining whether the recent bear market in digital assets has run its course. “Based on current data, signs indicate that crypto winter may be in the...
Markets
Oct. 18, 2023

Jimmy Zhong Arrest Details Revealed in New Report

A report from CNBC has revealed additional details surrounding Jimmy Zhong, who last year was arrested in connection with the theft of more than 50,000 bitcoins [BTC] from the Silk Road marketplace. According to CNBC , what had been mostly a ...
Markets
Oct. 18, 2023

Bitcoin Holds $28K as Stocks Buckle Under Interest Rate Concerns

The price of bitcoin [BTC] is little changed on Wednesday at $28,300 despite roughly 1% declines in the S&P 500 and Nasdaq as interest rates carve out fresh new post-global financial crisis highs. The broader CoinDesk Market Index (CMI) is...
Markets
Oct. 18, 2023

The Death of Compromise, and a Way Forward for Crypto

Two of my children were playing the other day, building a bridge with LEGO. Happy and feeling accomplished, they were just about to complete their creation when my other child ran over and kicked it down. Pleased with the destruction, he ran away...
Markets
Oct. 18, 2023

Investment as a Service: Table Stakes for the Next Crypto Cycle

Bear markets are for building. The firms that manage to survive this protracted drawdown will position themselves to take advantage of the next bull run, whenever it may come. Through this process of competitive preparation, features that were cu...
Markets
Oct. 16, 2023

Investor Demand for Ether Staking Yields Has Slowed: Coinbase

The Ethereum blockchain validator queue has emptied for the first time since the Shanghai upgrade in May, a signal investor demand for ether (ETH) staking is leveling off, Coinbase (COIN) said in a research report Friday. Validators verify trans...
Markets
Oct. 16, 2023

Binance Burns $450M BNB in Quarterly Move

Crypto exchange Binance said on Monday that it has burned over $450 million worth of BNB tokens as part of a planned token burn. Just over 2.1 million BNB tokens were burned by Binance. Burning refers to the permanent exclusion of tokens from t...
Markets
Oct. 16, 2023

Bitcoin Jumps to Near $28K As Bulls Bet on ETF Approval

Bitcoin (BTC) jumped some 4.5% in the Asian morning hours Monday amid hopes that a bitcoin exchange-traded fund (ETF) could get approved in the coming months, sparking bullish hopes. Bitcoin traded just under $28,000, reversing all losses over t...
Markets
Oct. 13, 2023

Bitcoin Spot ETFs Approval Partially Priced In, Coinbase Says

Approval of the highly-anticipated spot-based bitcoin exchange-traded funds (ETFs) is partially priced in, Coinbase Institutional's David Duong Argues. The expected deluge of money into the spot-based ETFs will likely happen overtime. In fina...
Markets
Oct. 12, 2023

Friday the 13th and Bitcoin. Is it Unlucky for Crypto Traders?

Friday the 13th is considered the unluckiest of days due to various superstitions and indeed that date has historically been bearish for the S&P 500, Wall Street's benchmark equity index. Bitcoin [BTC], however, has historically performed ...
Markets
Oct. 11, 2023

Bitcoin Sinks Nearly 3% to $26.7K; Bulls Ponder How Low It Can Go

Bitcoin [BTC] Wednesday tumbled below $27,000 for the first time since the start of the month as what’s now a four-day rally in stocks and three consecutive days of falling bond yields failed to ignite any buying interest in the crypto. Bitcoin ...
Markets
Oct. 11, 2023

Stars Arena Exploiter: ‘I Want to Cooperate’

An on-chain message signed by the smart contract address that attacked the Avalanche-based social app Stars Arena suggests the entity behind the exploit wants to cooperate. Last week, the up-and-coming social platform Stars Arena was hacked ...
Markets
Oct. 11, 2023

Ether Could Hit $8K by End of 2026: Standard Chartered

The price of ether [ETH] has the potential to reach $8,000 by the end of 2026 versus its current level just below $1,,600, writes Geoff Kendrick, Head of FX Research, West, and Digital Assets Research at Standard Chartered Bank. While Ethereum's...
Markets
Oct. 11, 2023

Stablecoins: Roman Coins or Spanish Doubloons for the Modern Era

It is easy to see digital assets as something completely new. However, they represent a return to a longer-term historical trend of money being far more international than it is today. Stablecoins and digital assets are a means of unshackling mon...
Markets
Oct. 11, 2023

HODLers Stash BTC Worth $1.35B Each Month, Onchain Data Show

Long-term investors continue to buy up bitcoin [BTC] at a brisk pace, contributing to market illiquidity, data by blockchain analytics firm Glassnode show. The HODLer net position change metric shows long-term investors or wallets with a his...
Markets
Oct. 10, 2023

Bitcoin Hovers Above $27,000 as U.S. Stocks Advance

Bitcoin [BTC] finished the U.S. market day above the $27,000 mark as markets remain generally unaffected by the war in Gaza. The crypto was down 0.73% over the past 24 hours and was changing hands at $27,395 towards the close of business U.S. Ea...
Markets
Oct. 10, 2023

First Mover Americas: Bitcoin Dominance Continues to Climb

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 Bitcoin ma...
Markets
Oct. 10, 2023

Bitcoin Could Fall Due to Israel-Hamas Tensions, Traders Worry

Ongoing tensions in the Middle East could spill over to the crypto markets and cause a short-term decline in riskier assets such as bitcoin (BTC), several traders who spoke to CoinDesk opined. The conflict between the Palestinian political and m...
Markets
Oct. 09, 2023

Ether Slides as Ethereum Foundation Swaps $2.7M ETH on Uniswap

Ether prices slipped some 1.5% in the past few hours as traders seemed to react to a wallet apparently belonging to the Ethereum Foundation that sold a portion of its allocated tokens. Wallet “0x9eE457023bB3De16D51A003a247BaEaD7fce313D” swapped ...
Markets
Oct. 09, 2023

Bitcoin Is Better Than Digital Gold: Matrixport

The connection between gold and bitcoin (BTC) as stores of value is obvious, and the demand for BTC as a digital store of value was a big reason why the cryptocurrency grew in popularity, crypto services provider Matrixport said in a report Monda...
Markets
Oct. 09, 2023

Deribit to List XRP, SOL, MATIC Options; Seeks License in EU

Deribit, the world's leading crypto options exchange by trading volume and open interest, will soon offer options tied to prominent alternative cryptocurrencies XRP, SOL and MATIC. The exchange announced its expansion plan on X soon before pre...
Markets
Oct. 05, 2023

Bitcoin Holds Steady at $27.6K; Why Are XRP, AVAX Prices Pumping?

Bitcoin held steady above the $27,600 level Thursday as ether (ETH) stabilized from a multi day drop, while XRP and Avalanche’s AVAX jumped. The largest cryptocurrency by market value gained just over 0.6% in the past 24 hours, seemingly stabili...
Markets
Oct. 03, 2023

First Mover Americas: Slow Start for Ether Futures ETFs

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 It was a sl...
Markets
Oct. 03, 2023

First Mover Americas: Slow Start For Ether Futures ETFs

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 It was a sl...
Markets
Oct. 02, 2023

Ether Futures ETFs See Low Volume in First-Day Trading

It was a slow start for the first day of trading for futures-based ether exchange-traded funds (ETFs). A total of nine of the ETFs offering exposure to ether futures came to market on Monday. Five will hold only ether futures, while four will ho...
Markets
Sep. 29, 2023

Ether Bears Lose $11M as ETF Hopes Lift ETH Prices

Short trades on ether (ETH) bore the brunt of futures liquidations in the past 24 hours as major financial firms readied a formal plan to issue ether futures ETFs in the U.S. Ether prices rose as much as 5% and trading volumes bumped nearly 25%,...
Markets
Sep. 28, 2023

Crypto Observers Warn of Risk Aversion as Oil Prices Top $93

Oil prices have jumped to new 2023 highs this quarter. Inflation could rebound with higher oil prices, forcing the Federal Reserve to continue raising rates, a bearish outcome for risk assets, including cryptocurrencies. The present situation,...
Markets
Sep. 27, 2023

Jade Protocol Faces Calls to Liquidate $31M Token Treasury

The native token of crypto club Jade Protocol surged Wednesday after a longtime member proposed the decentralized autonomous organization (DAO) liquidate its $31 million treasury and issue redemptions to token-holders. Jade Protocol is an inve...
Markets
Sep. 27, 2023

First Mover Americas: Binance Sells Russian Unit

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 Binance has ...
Markets
Sep. 26, 2023

Bitcoin Barely Holds $26K as Interest Rate Surge Continues

The price of bitcoin (BTC) remained under pressure at $26,200 on Tuesday as the idea of higher rates for a longer period takes hold throughout financial markets. The broad CoinDesk Market Index (CMI) is down 0.6%, modestly underperforming the d...
Markets
Sep. 25, 2023

MicroStrategy Bought 5,445 Bitcoin for $150M Since August

Software developer MicroStrategy (MSTR) purchased nearly $150 million worth of bitcoin (BTC) between Aug.1 and Sept.24, it said in a Monday regulatory filing . "MicroStrategy, together with its subsidiaries, acquired approximately 5,445 bitcoin...
Markets
Sep. 20, 2023

A Bitcoin ETF Has Golden Parallels From History

Back to the desk from a late summer break, it’s a good time for a quick year-to-date performance scan across the digital asset markets (see Figure 1 below). Overall, bitcoin ( BTC ) has clearly been setting the mood for 2023, as proxied by the Co...
Markets
Sep. 20, 2023

Bitcoin Holds Above $27K; XRP, ADA, DOGE Trade Little Changed

Bitcoin held steady above $27,000 in European morning hours on Wednesday, with broader crypto markets barely moving as some traders pointed to central bank policy decisions in the coming days before expecting any movement. The bitcoin (BTC) pric...
Markets
Sep. 19, 2023

Bitcoin Hangs on Just Above $27K Ahead of Fed Rate Decision

Bitcoin's ( BTC ) attempt at a sizable rally was snuffed out Tuesday, but the crypto managed to hold the $27,000 level and was trading at $27,180 late in the afternoon, up 1.4% over the past 24 hours. The broader CoinDesk Market Index ( CMI ) wa...
Markets
Sep. 19, 2023

Optimism Quietly Rolls Out Third Community Airdrop

Layer 2 blockchain Optimism has issued its third community airdrop, with users receiving a total of 19,411,313 OP tokens worth $27 million. Over 31,000 unique addresses received the airdrop. Eligibility was determined by whether holders delegate...
Markets
Sep. 19, 2023

Sino Global, Coinbase and Libra Alums Start $60 Million Web3 Fund

Alumni from some well-known names in crypto and fintech are starting a new $60 million fund called Oak Grove Ventures, which focuses on the intersection of Web3, artificial intelligence and biotech. The Singapore-based Oak Grove Ventures’ team i...
Markets
Sep. 18, 2023

Chainlink’s LINK Soars, Outperforming Other Crypto Majors

The LINK token from Chainlink, the decentralized oracle network built on Ethereum, is soaring more than 10% Monday amid new partnerships with traditional financial institutions. LINK climbed to $6.83 on Monday, gaining just over 10% over the pas...
Markets
Sep. 18, 2023

Ether Trading at 27% Discount to Fair Value, New Research Shows

Ether is trading at a 27% discount to its fair value, according to research firm RxR's blended Metcalfe law-centric valuation model, which incorporates active user adoption of layer 2 scaling networks. Traditional models that focus exclusively ...
Markets
Sep. 15, 2023

A Year After Ethereum Merge, Net Supply Down Nearly 300K Ether

On Sept. 15 last year, Ethereum implemented a pivotal upgrade, the Merge , which switched the largest smart contract blockchain to a proof-of-stake (PoS) consensus mechanism from a proof-of-work (PoW) setting. Since then, Ethereum has minted 68...
Markets
Sep. 15, 2023

Bitcoin Bounce Puts Altcoin Bears at Risk

As bitcoin (BTC) moves higher, the recently shorted alternative cryptocurrencies like solana's SOL may see leverage liquidations and exaggerated price rallies. Since Monday's brief move below crucial support at $25,000, bitcoin has risen over 6%...
Markets
Sep. 14, 2023

Bitcoin Onchain Data Show Bullish Undercurrents

Bullish bitcoin (BTC) undercurrents lurk below the boringly calm crypto waters, setting the stage for a potential outsized price rally. The percentage of bitcoin's circulating supply active onchain within the last month fell to a record low of 5...
Markets
Sep. 13, 2023

Crypto’s Interest in Rates

It appears crypto investors have been enjoying time away from the trading desk during the late summer months. With some exceptions (a flurry of excitement around potential bitcoin spot ETFs and trading enforcing upper and lower price support lev...
Markets
Sep. 13, 2023

U.S. CPI Inflation Jumped to 3.7% in August, More Than Expected

The Consumer Price Index (CPI) for August rose 0.6%, in line with economist expectations for 0.6% and up from 0.2% in July. On a year-over-year basis, CPI inflation rose to 3.7% versus forecasts for 3.6% and from 3.2% a month earlier. The core C...
Markets
Sep. 13, 2023

Crypto Market Shows Signs of Stability Ahead of U.S. CPI

Bitcoin is trading at $25,933, up 0.66% over the last 24 hours, in the hours leading up to a release of U.S. CPI data. Despite an earlier seesaw in crypto prices , digital assets have remained fairly stable even as economists predict a small ju...
Markets
Sep. 13, 2023

BitMEX's Prediction Market is Now Live

Crypto derivatives exchange BitMEX has started a prediction market , which allows traders to bet on the outcome of real-world events. Prediction markets have been around for quite some time but have seen a surge in popularity thanks to Polymark...
Markets
Sep. 12, 2023

Fear of FTX-Spurred Crypto Crash Is Overblown, Analysts Say

Crypto investors started the week jittery about an imminent market crash due to FTX shedding its $3.4 billion cryptocurrency holdings, but analysts say those concerns are likely overblown. “The actual selling pressure could be much smaller than ...
Markets
Sep. 12, 2023

Crypto Price Whipsaw Triggers $256M in Liquidation Losses

This week’s quick plunge and rebound in cryptocurrency prices has burned traders, triggering $256 million in liquidation losses over the last two days, according to Coinglass data . The first wave of liquidations occurred on Monday as the mark...
Markets
Sep. 12, 2023

First Mover Americas: Altcoin Crash May Be on the Cards

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
Sep. 12, 2023

Cryptocurrency Altcoin Crash Is Coming: Matrixport

At least $3.4 billion worth of crypto is likely to be sold by FTX so it can return fiat currency to its users instead of tokens, which should create an overhang for altcoins for the rest of the year, Matrixport said in a report Monday. The crypt...
Markets
Sep. 11, 2023

First Mover Americas: Altcoins Start the 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 Ripple’s XRP t...
Markets
Sep. 08, 2023

First Mover Americas: Bitcoin Shows Signs of Life

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
Sep. 06, 2023

First Mover Americas: Bitcoin Still Stuck in Limbo

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
Sep. 05, 2023

First Mover Americas: Bitcoin Remains Subdued Below $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 contin...
Markets
Aug. 31, 2023

MakerDAO’s MKR Token Jumps 10%, Defying Crypto Market Slump

Maker ( MKR ), the governance token of decentralized finance ( DeFi ) lender MakerDAO , jumped more than 10% Thursday, defying slumping cryptocurrency prices as the platform has turned profitable again after tweaking its lending rates. The toke...
Markets
Aug. 31, 2023

Ether Heads for 'Death Cross'

Though ether (ETH) is up more than 3.5% this week, it is still on track to form a so-called death cross . Ether's 50-day simple moving average is on pace to move below its 200-day moving average, according to charting platform TradingView. The ...
Markets
Jun. 05, 2023

Coinbase Shares Drop 10% Following SEC’s Suit Against Binance

Shares of Coinbase (COIN) were down 10.3% after news broke that the Securities and Exchange Commission (SEC) was suing Binance on allegations of violating federal securities law on Monday. The stock fell more than 5% right after the filing was...
Markets
Jun. 05, 2023

First Mover Americas: Is Bitcoin Heading Below $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 ( BT...
Markets
Jun. 02, 2023

Binance Market Share Drops to Lowest Level Since October

Binance’s market share has dropped to its lowest level in eight months, according to data from CCData. Although the exchange is still the largest cryptocurrency platform by trading volume, it has seen its market share decline consecutively over ...
Markets
Jun. 01, 2023

MakerDAO Paves Way for Additional $1.28B U.S. Treasury Purchase

The community governing MakerDAO , the decentralized autonomous organization ( DAO ) behind stablecoin DAI, has paved the way to purchase up to an additional $1.28 billion in U.S. government bonds via crypto asset manager BlockTower Capital. Vo...
Markets
May. 31, 2023

Sell Crypto Volatility in May, and Go Away?

As we approach the halfway mark for 2023, the year has been difficult to characterize for both equities and digital assets. Ongoing debates about the macroeconomic picture, both at home and internationally, have analysts wondering when the next s...
Markets
May. 31, 2023

Crypto Traders Need to Pay Attention to Chinese Yuan

China's yuan (CNY), one of the five currencies in the International Monetary Fund's special drawing rights basket, has depreciated by 2.7% against the U.S. dollar (USD) this month, its worst performance since September. Going back to February,...
Markets
May. 30, 2023

Bitcoin Headed for First Monthly Loss in Six Months

Bitcoin ( BTC ) has regained some poise since last Thursday, but the cryptocurrency still appears on track for its first monthly loss since December. The leading cryptocurrency by market value traded near $27,800 at press time, a 7.5% rise from ...
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

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

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

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

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. 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

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

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. 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

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

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. 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

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

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

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

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. 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. 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 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. 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

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. 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. 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

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. 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. 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. 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

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. 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. 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 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. 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
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

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 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. 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. 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

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. 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

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

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

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

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

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

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. 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

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

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. 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. 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

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

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

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

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

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. 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. 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

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

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 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. 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

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. 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. 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 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