Long-term bitcoin holders and miners have been significant sellers in the past two weeks, with little sign of renewed demand, according to on-chain analysis firm CryptoQuant in a report shared with CoinDesk. CryptoQuant’s data shows that whales—large holders of bitcoin—sold over $1.2 billion worth of BTC recently, likely through brokers rather than on the open…
Bullish bets on Dogecoin futures suffered significantly on Monday, with liquidations totaling $60 million as the meme token’s price dropped over 10% before a brief recovery. This decline occurred alongside a sell-off in major tokens, including Bitcoin, during Asian trading hours. The CoinDesk 20 Index, which tracks the broader crypto market, fell by 3.4% in…
Recent spikes in Google search queries related to cryptocurrencies have often signaled major market peaks, aligning with Warren Buffett’s advice to buy in doom and sell in boom. This pattern now appears in the market for AI-related tokens. Tokens like FET, RNDR, TAO, and GRT have seen their market value drop by up to 30%…
Sonic, a gaming-focused layer-2 blockchain built on Solana, has successfully raised $12 million in a recent funding round. The Series A round was led by Bitkraft and included investments from Galaxy Interactive and Big Brain Holdings. The funds will be allocated to expanding the Sonic protocol, which features game development tools tailored for the Solana…
The layer-2 blockchain has launched its much-anticipated airdrop of the ZK token, with 45% of the tokens claimed within the first two hours, according to the ZKsync Association. This non-profit organization, created by Matter Labs, oversees the airdrop process. “It’s a Monday, don’t you have work?” the ZK Nation X account tweeted, noting the rapid…
Bitcoin investment products saw significant outflows totaling $621 million last week amid mixed economic signals from the U.S., according to asset manager CoinShares. Across the broader digital asset ecosystem, there were net outflows of $600 million, primarily driven by Bitcoin’s losses. This marked the largest outflow since March 22. Grayscale’s GBTC was particularly hard-hit, experiencing…
The Australian Securities Exchange, which accounts for 90% of Australia’s equity market, has approved its first spot Bitcoin (BTC) exchange-traded fund. The issuer, VanEck, announced in a blog post that it will launch the ETF on June 20, touting it as the “lowest cost bitcoin ETF in Australia.” VanEck resubmitted the application for this product…
Tether, the company behind the $110 billion stablecoin, announced on Monday the launch of Alloy, a new token minting platform on the Ethereum network. Alloy allows users to create tokens collateralized by Tether’s tokenized gold (XAUT). “Alloy by Tether is an open platform that allows the creation of collateralized synthetic digital assets and will soon…
Cryptocurrency markets remained under pressure during U.S. trading hours on Thursday, extending a decline that began the previous day when the Federal Reserve indicated it expected to cut rates only once this year. Ether (ETH) saw a mid-morning bounce after U.S. Securities and Exchange Commission Chairman Gary Gensler, during a Senate hearing, stated he anticipated…
Paradigm, known for its early investments in projects like crypto exchange Uniswap and Ethereum scaling solution Optimism, has raised $850 million for an early-stage crypto venture fund. Founded in 2018 by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Paradigm is one of the largest venture capital investors in the cryptocurrency industry.…