Flare Network is helping push XRP deeper into decentralized finance (DeFi) with FXRP — a fully collateralized, non-custodial representation of XRP on Songbird — and a growing suite of infrastructure now drawing interest from retail and institutional players alike, according to a Messari report. Flare validates off-chain data without external middleware. The framework secures FAssets, … Read more
The landmark acquisition of a working oil and gas facility in Latin America worth $75 million was completed using stablecoins and tokenized debt and equity through real-world asset specialist Global Settlement’s platform, the firm told CoinDesk. The purchase — orchestrated for Feniix Energy, a company that focuses on buying and operating energy assets in the … Read more
Multi-chain liquid staking protocol Meta Pool suffered a smart contract exploit on Tuesday, resulting in the loss of $27 million. Blockchain security firm PeckShield reported that a bug in the protocol’s staking contract allowed users to freely mint mpETH, the protocol’s liquid staking token (LST). While an attacker managed to mint $27 million worth of … Read more
Fold (FLD), a publicly traded bitcoin financial services company, has secured an equity purchase facility worth up to $250 million to grow its bitcoin BTC holdings. The Arizona-based firm said on Tuesday it signed an agreement granting it the right, but not the obligation, to issue and sell up to $250 million in new shares, … Read more
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3054.04, down 4.1% (-129.21) since 4 p.m. ET on Monday. None of the 20 assets are trading higher. Leaders: BCH (-1.2%) and BTC (-2.7%). Laggards: ICP (-7.6%) and NEAR … Read more
Venture capital firm Andreessen Horowitz (a16z) has invested an additional $70 million in EigenLayer, Ethereum’s largest restaking protocol, to support the launch of EigenCloud, a new platform offering “verifiability-as-a-service” for developers, the companies said on Tuesday. The investment follows a16z’s $100 million Series B in Eigen Labs in February 2024, and underscores its commitment to … Read more
CoinDesk Indices and decentralized finance (DeFi) specialist Sentora are introducing a benchmark tied to overnight stablecoin lending rates, bringing on-chain markets one step closer to mainstream money markets. The CoinDesk Overnight Rates (CDOR) are designed to transform real-time borrowing activity into standardized rates, giving trading firms, exchanges, and protocol treasuries a way to hedge interest-rate … Read more
Ubyx, a startup founded by ex-Citigroup executive Tony McLaughlin, has raised $10 million to build a global stablecoin clearing system aiming to facilitate the sector’s adoption. The seed round was led by Galaxy Ventures, with backing from Coinbase Ventures, Founders Fund, Paxos, VanEck, and others, according to a press release. The London-based company is looking … Read more
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin cash BCH, the best performing top 100 cryptocurrency of the past 24 hours, looks set to chalk out a bull run against bitcoin BTC. That’s because the BCH/BTC trading pair listed on Bitstamp has jumped out of a triangle … Read more
Polyhedra, a crypto protocol whose company reached unicorn status last year, is promising a buyback plan and additional steps to rebuild trust in the crypto community, days after its token fell more than 80% within minutes. “Now we need to figure out the current situation and we need to prevent future financial attack,” founder Tiancheng … Read more
By Omkar Godbole (All times ET unless indicated otherwise) Since Friday, cryptocurrencies, especially bitcoin BTC, have demonstrated resilience in the face of the Iran-Israel hostilities. But they also haven’t rallied on what might be considered positive news. The two largest tokens, bitcoin and ether ETH, have traded in a narrow range in the past 24 … Read more
XRP XRP climbed 3.6% over the last 24 hours, peaking at $2.33 before settling near $2.25, as buyers capitalized on market volatility. The token overcame resistance at $2.21 and formed new support at $2.29, signaling renewed bullish conviction despite a brief pullback to $2.23. News Background Ongoing trade disputes between the U.S. and China continue … Read more
Traders on decentralized betting platform Polymarket have scaled back expectations for U.S. military action against Iran amid reports that President Donald Trump’s team is looking to mend fences. As of writing, probability that U.S. will strike Iran by June 30 stood at 46%, down sharply from the overnight high of 66.9%, according to trading in … Read more
Cathie Wood’s ARK Invest trimmed its holdings on its sizable Circle (CRCL) position Monday, selling $51.8 million worth of shares, as the stablecoin issuer’s stock extended its rally. ARK sold a total of 342,658 shares across three of its actively managed exchange-traded funds (ETFs), according to a daily email. The ARK Innovation ETF (ARKK) offloaded … Read more
The number of whale wallets holding large amounts of XRP XRP has increased to a record high in a sign of confidence in the cryptocurrency’s price prospects. “There are now over 2,700 whale & shark wallets holding at least 1M XRP for the first time in the asset’s 12 plus year history,” blockchain analytics firm … Read more
The institutionalization of cryptocurrencies is accelerating rapidly. Crypto derivatives exchange Deribit’s on-demand liquidity tool, the Deribit Block Request-for-Quote (RFQ) interface, has registered a cumulative trading volume of over $23 billion in less than four months since its debut in early March. Deribit is a prominent derivatives exchange, offering the world’s largest options market for traders … Read more
Social media giant X suspended Pump.fun’s official account and co-founder Alon Cohen’s personal handle on June 16, alongside other memecoin-related platforms including GMGN, Bloom Trading, BullX, ElizaOS, and more earlier on Tuesday. The platform issued no reason, triggering speculation about internal policy enforcement or wider regulatory intervention, but sparked grapevine talk in crypto circles of … Read more
Dogecoin (DOGE) climbed 4.29% over the past 24 hours, rising from $0.173 to $0.180, as broad market liquidations swept through the crypto market during the Israel–Iran conflict. The token broke key resistance at $0.177 on above-average volume and held firm near new highs despite intensifying global uncertainty. News Background The Israel–Iran escalation triggered a wave … Read more
A fog of uncertainty continues to hang over global markets as crypto assets trade sideways, ahead of this week’s U.S. Federal Reserve meeting. While equities briefly found their footing on Monday, crypto markets remained defensive after Friday’s $1.2 billion futures liquidation, which shook out overleveraged longs and sent altcoins sharply lower over the weekend. Bitcoin … Read more
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Analysis As Asia begins its trading day, Tron DAO’s TRX token … Read more
Crypto markets pushed higher on Monday as traders have shifted focus from geopolitical anxieties to crypto-related institutional developments ahead of the upcoming Federal Open Market Committee’s meeting. Bitcoin BTC has risen 3.1% in the last 24 hours and is now trading for $108,600, only a couple of thousand dollars below its all-time record. It certainly … Read more
Global banking giant JPMorgan Chase has filed a trademark application for a new crypto-focused platform branded as JPMD, signaling that the bank is pushing deeper into digital assets. According to the application filed on Sunday to the U.S. Trademark and Patent Office, JPMD will offer services such as “providing trading, exchange, transfer, and payment services … Read more
Cantor initiated coverage of the three largest solana SOL treasury companies DeFi Development (DFDV), Upexi (UPXI) and Sol Strategies (HODL) with an overweight rating, the Wall Street firm said in a research report Monday. The broker has a $45 price target for DeFi Development, a C$54 objective for Sol Strategies, and a $16 price target … Read more
Bitcoin BTC miners are facing mounting pressure as the network’s hashrate and difficulty continue to climb, tightening margins even as bitcoin’s price holds steady, according to TheMinerMag’s monthly report. The network’s mining difficulty hit a record 126.98 trillion, propelled by a 14-day average hashrate of 913.54 exahashes per second (EH/s). Transaction fees in June fell … Read more
Asset manager Purpose Investments is set to launch a spot XRP XRP exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts. The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, … Read more
Litecoin LTC rallied more than 2% on Monday, gaining ground as investors eye a possible spot exchange-traded fund (ETF) approval and navigate a shaky geopolitical backdrop. LTC rose from $85.05 to $88 in a 24-hour period, an uptrend marked by higher lows and heavy volume. The rise coincides with growing expectations that the U.S. Securities … Read more
SUI SUI traded at $3.1110 on Monday, rising 3.85% over the past 24 hours following a multi-hour uptrend that pushed the token through key resistance levels. The asset hit a session high of $3.1554 before settling just above $3.11, with strong volume supporting the breakout attempt. Michaël van de Poppe called SUI “super interesting as … Read more
Toncoin TON established strong support at $2.94-$2.96 before making a decisive move upward, demonstrating resilience even after a sharp pullback, according to CoinDesk research’s technical analysis model. The token is up 1.5% in the last 24 hours, underperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins … Read more
Binance Coin (BNB) climbed over the last 24 hours even as geopolitical tensions rattled the markets, driven by surging usage of the BNB Chain, which recorded more than 16 million transactions a day earlier this month. That transaction figure marks a massive jump when from the near 4 million transactions a day processed earlier in … Read more
Avalanche’s token AVAX has gained 3.1% in the last 24 hours and appears to be undergoing a V-shaped recovery even as the war between Iran and Israel continues, according to CoinDesk research’s technical analysis model. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins … Read more