Michael Saylor, executive chairman of Strategy (MSTR), the largest publicly traded holder of bitcoin BTC$77,851.73, said Thursday on X that the crypto winter is over as bitcoin held above $78,000, a price level first reached early on April 22, according to CoinDesk data. In a Game of Thrones-style image, dressed in a fur coat, a…
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 2130.2, up 0.7% (+14.28) since 4 p.m. ET on Thursday. All 20 assets are trading higher. Leaders: APT (+3.5%) and AAVE (+3.2%). Laggards: CRO (+0.0%) and XLM (+0.2%). The…
For bitcoin BTC$78,212.93 traders, the direction of the Dollar Index (DXY), a measure of the greenback’s strength against a basket of other currencies, hasn’t mattered this much in nearly four years. That’s because the 30-day correlation coefficient between the two now stands at -0.90, according to TradingView, the most negative reading since September 2022. A…
Crypto volatility cooled on Friday, with bitcoin BTC$77,680.66 stuck between $77,500 and $78,500 range since midnight UTC. The muted price action follows a failed breakout attempt near $80,000 on Wednesday, although the broader trend remains constructive, with the BTC price grinding higher through April and printing a series of higher highs and higher lows. Ether…
India is turning to welfare payments to drive adoption of its central bank digital currency as it prepares to put the CBDC in the spotlight at a summit of BRICS nations later this year. The Reserve Bank of India is running about 10 pilot programs routing portions of the country’s roughly $80 billion welfare system…
Japanese bitcoin treasury firm Metaplanet is back in the market with another round of balance-sheet leverage, issuing 8 billion yen, worth roughly $50 million, in zero-interest ordinary bonds to finance future bitcoin purchases. In a Friday filing, the company said the latest issuance was fully taken up by EVO Fund, a Cayman Islands-based investor that…
Investment banking giant Morgan Stanley has made a quiet by significant move into stablecoins, expanding its footprint in the digital assets industry. The firm’s investment management arm, MSIM, has announced the launch of the Stablecoin Reserves Portfolio – a government money market fund designed for issuers of stablecoins who need a regulated, safe place to…
Cryptocurrency markets remained on the back foot Friday as macroeconomic signals from Japan, one of the world’s largest economies, compounded uncertainty driven by the Iran war. Bitcoin BTC$77,775.67 hovered near $77,800, having struggled to break above the Thursday high of $78,700 during the early Asian trading hours, according to CoinDesk data. The broader uptrend, which…
Just as bitcoin BTC$77,813.35 appeared to have built momentum for a breakout above $80,000, macro uncertainty reemerged as a headwind. The most notable development came from the Pentagon, which told U.S. lawmakers in a classified briefing that clearing mines in the Strait of Hormuz, a major oil chokepoint, could take at least six months, and…
Web3 gaming burned through up to $15 billion chasing a token-driven future that gamers never bought into. Data from Caladan, a market-making and trading firm, shows roughly 93% of so-called GameFi projects are now effectively dead, with token values down about 95% from their 2022 peaks and funding to studios collapsing 93% by 2025. Investors…
