BJ The cryptocurrency market continues to navigate complex global economic conditions as BNB trades within a tight consolidation range between $636-$646, according to CoinDesk Research’s technical analysis data model. The token’s price action shows resilience amid international trade disputes, with higher lows forming since recent dips while resistance remains firm around the $643-$645 zone. Decreasing volume … Read more
Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000. Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests. The 11 spot ETFs … Read more
CoinDesk hosted its annual Consensus conference in Toronto this week. It was busy, to put it mildly. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Read more The narrative It’s been a hectic week, watching the Senate’s ongoing negotiations … Read more
A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring. Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X … Read more
Two of the year’s most chaotic token blowups — Movement Labs’ MOVE scandal and the collapse of Mantra’s OM — are sending shockwaves through crypto’s market-making businesses. In both cases, rapid price crashes revealed hidden actors, questionable token unlocks, and alleged side agreements that blinded market participants, with OM falling more than 90% within hours … Read more
ETH has quietly slipped into historically rare territory as one market signal shows its deeply undervalued compared to bitcoin (BTC), at a ratio not seen since 2019, a new CryptoQuant report says. The signal comes from Ethereum’s ETH/BTC Market Value to Realized Value (MVRV) metric, a gauge of relative valuation that measures market sentiment and … Read more
Major tokens slumped Saturday as investors digested the implications of Moody’s Ratings downgrading the U.S. credit score, with ether (ETH), XRP, and dogecoin (DOGE) dropping roughly 3%. The broader crypto market held at $3.3 trillion, paring earlier gains after briefly touching the week’s high. The move came after rating giant Moody’s cut the U.S. sovereign … Read more
Despite recent setbacks, U.S. legislation to regulate stablecoin issuers may be heading toward debate and passage next week, according to the backers of the bill known as the “Guiding and Establishing National Innovation for U.S. Stablecoins” (GENIUS) Act. “Next week, the Senate will make history when we debate and pass the GENIUS Act that establishes … Read more
Blockchain development platform Alchemy said it has acquired Solana developer DexterLab for an undisclosed fee. The acquisition will accelerate the development of Solana-based Web3 applications to meet growing enterprise demand, Alchemy said in an emailed announcement on Friday. DexterLab’s technology has previously powered the Solana development of Google and the Solana Foundation, establishing itself as … Read more
While cryptocurrencies put in a flattish performance on Friday with bitcoin BTC churning around $104,000, crypto-related stocks were having a moment to shine. Crypto mining and data center firms such as Cipher Mining (CIFR), Hive Digital (HIVE), Hut 8 (HUT) and TeraWulf (WULF) booked 10%-20% gains on optimism about artificial intelligence (AI) computing demand, jolted … Read more
