On a balmy evening in 2023 on the east coast of Spain, Olivier Acuña sat at his computer to transfer his life savings to another cryptocurrency wallet, as he had done hundreds of times before. “Sending crypto always induces anxiety,” Acuña told CoinDesk. This rang painfully true that night. As soon as Acuña hit send, … Read more
As 2024 draws to a close, bitcoin (BTC) is underperforming, counter to its historical performance in a year-end “Santa rally.” The largest cryptocurrency generally adds about 2.8% in the 51st week, this week it’s on course to slide 11%. And, while it’s tended to gain 3% in week 52, in five of the past six … 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
By Omkar Godbole (All times ET unless indicated otherwise) Keeping an eye on the Far East has been our mantra lately, and the latest news from the Chinese bond market shows why. Just today, China’s one-year government bond yield dropped below 1% for the first time since the Great Financial Crisis, adding to the year-to-date … Read more
Bitcoin (BTC) is currently trading 13% below its record high of around $108,000, the most since President-elect Donald Trump won the U.S. election in early November. Since then, the largest cryptocurrency has spent several periods at 10% below the record, a level that some investors term a correction. BTCUSD (TradingView) The selling pressure originates with … Read more
Digital asset custody firm Copper has withdrawn its application to become registered with the U.K.’s financial services regulator, the Financial Conduct Authority (FCA), the company said in a statement on Friday. The company chaired by former U.K. Chancellor of the Exchequer Philip Hammond said the decision to withdraw was part of the company’s strategic shift, … Read more
The U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETF) registered record outflows Thursday and the CME futures premium dropped into single digits in a sign of weakening short-term demand. Investors ended a 15-day streak of inflows by withdrawing a net $671.9 million from the 11 ETFs, the largest single-day tally since their inception on Jan. 11, … Read more
Losses in bitcoin (BTC) and other crypto majors extended to their third straight day, as risk-off behavior after this week’s FOMC meeting and general profit-taking contributed to heavy market sentiment. BTC dropped 4.2% in the past 24 hours, with Solana’s SOL, ether (ETH) and Cardano’s ADA falling as much as 9%. Dogecoin slid the most … Read more
Bitcoin’s (BTC) post-Fed price drop to $96,000 has activated a crucial contrary indicator that has historically marked the end of price pullbacks. On Wednesday, the Fed cut the benchmark borrowing cost as expected but penciled in only two rate cuts for 2025, down from four projected in September. The central bank stressed that it’s not … Read more
A war for on-chain market dominance may be brewing. The question: What will be the collateral of choice in the decentralized finance (DeFi) economy? As of press time, DeFi protocols across all ecosystems have locked in almost $132 billion in value, according to DeFiLlama data, inching closer every day to their 2021 high of $175 … Read more