The Sui blockchain hasn’t yet catapulted into the bull-run conversation. But its DeFi ecosystem is trending up and to the right, creating an opening for one of its biggest protocols to capitalize. Suilend, which facilitates crypto borrowing and lending on Sui, raised $2 million in February and just closed on an additional $4 million, its … Read more
Memecoins undoubtedly capture a big slice of crypto observers’ attention — even if not everyone is a fan. But data shows they’re gobbling up a growing amount of the crypto economy too. The sector — powered by the likes of dogecoin (DOGE) and Shiba Inu (SHIB) — made up 3.16% of the combined market capitalization … Read more
Bitcoin’s (BTC) price plunged below $94,000 late Thursday in rapid retreat from its newfound all-time high around $100,000. There was no immediately obvious reason for the drop. CoinDesk Indices data, which incorporates prices from several sources, shows bitcoin dropped as low as $93,468.34. Meanwhile, it got to about $90,500 on Binance and $92,000 on Coinbase. … Read more
President-elect Donald Trump has named David Sacks as the White House’s AI and Crypto Czar, announcing the appointment in a TruthSocial post Thursday night. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader … Read more
A heavyweight from the once-hot NFT era is now getting into the cryptocurrency issuance game. Pudgy Penguins launched three years ago as a set of 8,888 NFTs depicting colorful and comical birds. Now, the team behind the project tells CoinDesk that they will release a token called PENGU this year on the Solana blockchain. Nearly … Read more
Traders looking to impulsively take exposure to bitcoin (BTC) at record prices due to the “fear of missing out” (FOMO) should note that the market now looks notably confused, a shift away from the recent strong bull momentum. The confusion is evident in BTC’s trading on Thursday, as it finally rose to six figures, tapping … Read more
Shaurya Malwa Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, … Read more
Bitcoin (BTC) reached an all-time high above $100,000 earlier this week as a number of tailwinds fueled a post-U.S.-election rally in the world’s largest cryptocurrency, Citi (C) said in a research report on Thursday. “The nomination of digital asset-friendly Paul Atkins to chair the SEC provided the final boost,” that saw bitcoin break through $100,000 … Read more
Net inflows into U.S. spot ether (ETH) exchange-traded funds (ETFs) have picked up in the past five days, with Thursday seeing a record $428.5 million. The inflow was dominated by BlackRock’s ETHA, which collected a net $292.7 million, also a record. In the past five days, the ether ETFs have seen almost $800 million in … Read more
By Omkar Godbole (All times ET unless indicated otherwise) You know how it feels when you’re watching a match, both teams score and you end up with a draw? So, that’s the bitcoin market right now. The bulls pushed prices above $103,000 early Thursday, only for the bears to bite back, crashing prices to $91,000. … Read more