CoinDesk

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. China’s growing focus on stablecoins is less about embracing crypto and … Read more

Nvidia (NVDA) reported stronger-than-expected earnings for the second quarter on Wednesday, posting revenue of $46.7 billion, a 56% increase from a year earlier. The results underscore the chipmaker’s role at the center of the AI boom, as demand for its high-powered processors showed little sign of slowing. Shares of the company fell 1.7% in after-hours … Read more

VersaBank, a Canadian digital bank with a focus on business clients, has started testing a tokenized deposit that the bank says provide a safer and more compliant alternative to stablecoins. The pilot, run through the bank’s U.S. subsidiary VersaBank USA, will trial a U.S. dollar version of the bank’s blockchain-based Digital Deposit Receipts (DDRs) tech. … Read more

Finastra, a London-based financial tech provider to some of the world’s largest banks, said Wednesday it will connect its payments hub to Circle’s (CRCL) USDC stablecoin, giving banks an option to settle cross-border transfers with the token. The integration will begin with Finastra’s Global PAYplus (GPP), which processes more than $5 trillion in daily cross-border … Read more

Solana’s SOL outperformed the broader crypto market on Wednesday, climbing 7.68% in 24 hours to trade at $208.24, according to CoinDesk Data. By comparison, the CoinDesk 20 Index (CD20) rose 2.89% and the total crypto market cap gained just 1.6% during the same period. Analysts said Solana’s strong performance reflects a combination of technical momentum … Read more

The native token of Hyperliquid (HYPE) surged to a fresh all-time high early Wednesday, continuing its meteoric climb this year as the decentralized exchange best known for on-chain perpetual trading has attracted record activity. The token broke through the $50 mark for the first time, gaining about 8% in the past 24 hours. HYPE is … Read more

Welcome to The Protocol, CoinDesk’s weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk. In this issue: Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency Bitcoin Liquid Staking Gains Momentum as Lombard Launches BARD Token and Foundation Optimism Taps Flashbots to Supercharge … Read more

In our previous research report titled Bitcoin’s Liquidity Trifecta: Unpacking Liquidity Across On-Chain Data, Market Microstructure and Macro Drivers, we explored how various liquidity indicators could reveal underlying capital flows and liquidity conditions for bitcoin. Applying that same framework to ether (ETH) gives us valuable insight into its current liquidity profile — both on-chain and … Read more

Price outlook Our analysis for the remainder of 2025 forecasts bitcoin reaching a target of $150,000 to $160,000 driven by a Fed policy pivot and rate drop expectations in the United States, beneficial liquidity conditions and the increasingly positive crypto regulatory environment. The latest announcement from the Trump administration allowing cryptos into 401(k)s adds an … Read more

Stellar’s native token, XLM, traded in a narrow but active range over the past 24 hours, reflecting broader pressures across the digital asset market. Between Aug. 26 at 15:00 and Aug. 27 at 14:00, the cryptocurrency moved within a $0.017 band – about 4% – from a high of $0.40 to a low of $0.38. … Read more

Hedera’s HBAR token showed strong momentum in a 23-hour trading window between Aug. 26 at 15:00 and Aug. 27 at 14:00, oscillating within a narrow $0.01 range that reflected a 4% spread between its $0.25 high and $0.24 low. The token gained early traction on Aug. 26, surging from $0.24 to its peak at $0.25 … Read more

Cardano’s ADA token climbed 2% to $0.87 in the past 24 hours, echoing a broader recovery across crypto markets. The CoinDesk 20 Index (CD20), which tracks the largest digital assets, gained 2.8% over the same period. The move came as traders weighed two major developments: growing confidence in a September interest rate cut by the … Read more

The largest company in the world by market cap at $4.4 trilion, Nvidia (NVDA) reports earnings after the U.S. market close on Wednesday. Data from Bitcoindata21 on X shows that Nvidia earnings have historically correlated with a positive Bitcoin’s performance. Over the last 10 earnings reports since early 2023, when the current bull market began, … Read more

Symbiotic, a universal staking protocol and EigenLayer competitor, has introduced External Rewards, a feature designed to let networks offer their own token-based incentives to stakers and node operators. The new feature, introduced on Wednesday, marks a step in Symbiotic’s push to make shared security a default feature across modular blockchain ecosystems. External Rewards gives protocols … 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 4134.18, up 0.5% (+21.8) since 4 p.m. ET on Tuesday. Six of 20 assets are trading higher. Leaders: SOL (+4.1%) and BCH (+2.7%). Laggards: XLM (-2.7%) and FIL (-1.4%). … Read more

Hut 8 (HUT) is set to spin out most of its bitcoin (BTC) mining operations into American Bitcoin (ABTC) within the next week, a move that Benchmark analyst Mark Palmer said could re-rate the company’s shares. Yesterday, Hut 8 unveiled plans to develop 1.53 gigawatts (GW) of new capacity across four U.S. sites, in Louisiana, … Read more

Aave Labs has launched Horizon, its new platform dedicated to institutional borrowers to access stablecoins using tokenized versions of real-world assets (RWAs) like U.S. Treasuries as collateral. At launch, institutions will be able to borrow Circle’s USDC, Ripple’s RLUSD and Aave’s GHO against a set of tokenized assets, including Superstate’s short-duration U.S. Treasury and crypto … Read more

Google Cloud is moving forward with plans to launch its own layer-1 (L1) blockchain, positioning the network as neutral infrastructure for global finance at a time when fintech competitors are developing out their own distributed ledgers. In a LinkedIn post published Tuesday, Rich Widmann, Google’s head of Web3 strategy, provided fresh details on the project, … Read more

Even though bitcoin (BTC) has bounced from earlier in the European day, it’s still up less than 1% in the past 24 hours. With the end of August in touching distance, the largest cryptocurrency seems set to close the month in the red, as it has done for the past three years. Still, that’s the … Read more

Hemi Labs, the Bitcoin programmability network founded by Jeff Garzik, has raised $15 million in funding to accelerate development and expand its ecosystem. The round included YZi Labs (formerly Binance Labs), Republic Digital, HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com and others, according to an emailed announcement on Tuesday. The company said the funds … Read more

By James Van Straten (All times ET unless indicated otherwise) As August draws toward a close, bitcoin (BTC) bulls may welcome the end of a modest pullback, with the largest cryptocurrency down around 4% for the month and 12% off its all-time high of $124,500. For now, it’s little changed around $110,580, up less than … Read more

The futures market for Plasma’s unreleased XPL token on decentralized exchange Hyperliquid experienced one of its most volatile trading episodes to date overnight, with more than $160 million in open interest wiped out in less than 10 minutes. More than 80% of outstanding positions were liquidated, collapsing open interest from $160 million to just $30 … Read more

Bitcoin (BTC) long-term holders (LTHs) have already realized more profit in this cycle than in all but one previous cycle (2016 to 2017), according to data from on-chain analytics platform Glassnode. This underscores elevated sell-side pressure and, when combined with other signals, suggests the market has entered the late phase of the cycle”. Since the … Read more

Metaplanet Inc. (3350) rose 5.7% on Wednesday after the Tokyo-based company said it plans to sell shares to foreign investors, provided updates on recent capital actions and said it will temporarily suspend warrant exercises. The company plans to issue up to 555 million new Tokyo-traded shares through an international offering, subject to shareholder approval at … Read more

KindlyMD (NAKA), the Nasdaq-listed health-care company that recently merged with bitcoin (BTC) treasury firm Nakamoto, is set to offer as much as $5 billion in equity to fund the purchase of more BTC. The Salt Lake City-based firm filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) for an at-the-market equity … Read more

The crypto industry’s Washington lobbyists are trying to draw a line in the sand over the market structure bill that’s steaming through the U.S. Senate, saying they can’t back a law that wouldn’t fully protect software developers from being held responsible for bad actors abusing their technology. The industry made its case to the Senate’s … Read more

News Background CME Group recently said its crypto futures suite surpassed $30 billion in notional open interest for the first time, with XRP futures crossing $1 billion in just over three months — the fastest pace for a new contract. Broader crypto sentiment improved after Fed Chair Jerome Powell’s Jackson Hole remarks, which boosted expectations … 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. ETH’s chances of hitting $5,000 this month climbed to 26% on … Read more

Altcoins bounced back sharply on Tuesday after a steep sell-off over the prior 48 hours, with traders seizing lower prices as an opportunity to re-enter the market. XRP led the recovery, gaining 6% over the past 24 hours. Solana (SOL) and dogecoin (DOGE) each climbed about 4.5%, while ethereum (ETH) added 5% over the same … Read more

The U.S. Commodity Futures Trading Commission is about to drop to a single commissioner when Democrat Kristin Johnson leaves the agency next week, and the only other person waiting in the wings to join the regulator is President Donald Trump’s chairman nominee, Brian Quintenz. As of Sept. 3, the five-member commission will drop to one, … Read more