Author: Coindesk

Large holders, or addresses owning at least 0.1% of BTC’s circulating supply, snapped up over 84K BTC, worth $5.4 billion at the current market price, according to data tracked by blockchain analytics firm IntoTheBlock and TradingView. That’s the biggest single-month tally in BTC terms since October 2014. Read the full article here

Nvidia is expected to see more significant price swings than bitcoin and ether. NVDA’s 30-day options implied volatility, a gauge of anticipated price swings over four weeks, recently surged from an annualized 48% to 71%, according to Fintel. Deribit’s bitcoin DVOL index, a measure of 30-day implied volatility, declined from 68% to 49%, according to charting platform TradingView. The ETH DVOL index fell from 70% to 55%. NVDA, a bellwether for AI, has emerged as a barometer of sentiment for both equity and crypto markets. Both bitcoin and NVDA bottomed out in late 2022 and have since exhibited a strong…

There is significant opportunity for TradFi firms to drive meaningful revenue by extending new services to existing clients, as well as crypto native/FinTech firms to offer more institutional-focused capabilities. Those that move quickly will reap the benefits. Of survey respondents, 54% of institutional investors and 64% of retail investors plan to increase allocations, representing a significant upside over current money invested. Institutional investors largely seek a multi-custodian model to manage their digital assets, and beyond custody, want services like connectivity to more liquidity providers, the ability to lend/borrow against their crypto and prime brokerage services — in short, the services…

Although crypto history is short, with Bitcoin celebrating its 15th birthday this year, we have already experienced three major cycles: 2011-2013, 2015-2017, and 2019-2021. The short cycle time is not surprising given the crypto market trades 24/7, about five times more than the equity market. The 2011-2013 cycle was predominantly about BTC, as ETH launched in 2015. Analyzing the past two cycles reveals patterns that help us understand the anatomy of a crypto bull market. With the market warming up to the U.S. election and improved liquidity outlook, history might rhyme again. Read the full article here

While digital assets suffered losses, most traditional asset classes climbed higher during the day. The 10-year U.S. bond yields fell 10 basis points, while gold was up 1.5% to $2,450, slightly below its record-highs and WTI crude oil prices surged 5%. Equities also soared during the day, with the tech-heavy Nasdaq 100 index rebounding 3% and the S&P 500 closing the session 2.2% higher, led by chipmaker giant Nvidia’s (NVDA) 12% gains. Read the full article here

In the minutes following the more hawkish than expected statement, bond yields and the dollar rose a bit, but both remained lower for the day. The price of bitcoin (BTC) edged lower to $66,550, but remained modestly higher over the past 24 hours. U.S. stocks remained sharply higher for the session, the Nasdaq up 2.4% and S&P 500 1.6%. Read the full article here

In this week’s issue of CoinDesk’s newsletter on blockchain tech, we examine U.S. Senator Cynthia Lummis’s call for a national “Bitcoin Strategic Reserve.” We’ve also got photos from the Bitcoin Nashville conference, where it seemed like nearly everyone was talking about staple-gunning layer-2 networks onto the original blockchain. Read the full article here

Tether Investments, the entity established as a separate division from the stablecoin business to manage the company’s growing foray into bitcoin (BTC) mining, artificial intelligence and other investments, has a $6.2 billion net equity value, per the attestation. Read the full article here

The specter of potential enforcement actions against NFT projects has “unleashed a chilling effect over NFT artists across the [U.S.],” according to the complaint. The plaintiffs in the case, conceptual artist and law professor Brian Frye, and musical artist Jonathan Mann, also known as “Song a Day Mann,” are each holding back a ready-to-go NFT project until a court grants them protection from the “credible threat” of a future investigation or litigation by the SEC, which their lawyers claim would be which would be “economically devastating to [their] artistic endeavors.” Read the full article here

To get listed on major exchanges, many crypto projects are over-inflating their valuations at launch, scaring away investors. How do founders get exposure to VC funding without playing the inflation game? CoinDesk columnist Azeem Khan, a VC himself, has some ideas. Read the full article here