Author: Coindesk

The expansion “indicates growing investor optimism, underpinning a bullish outlook,” Wintermute said in a note shared with CoinDesk. “The increase in stablecoin supply indicates that money is being deposited into on-chain ecosystems to generate economic activity, either through direct on-chain purchases that can catalyze price appreciation or yield-generation strategies that could improve [market] liquidity. This activity ultimately fosters positive on-chain growth.” Read the full article here

““The policy stance is how does one consult relevant stakeholders, so it is to come out in the open and say here is a discussion paper these are the issues and then stakeholders will give their views,” said Seth who is the Economic Affairs Secretary. “At the moment, an inter-ministerial group, is looking into a wider policy for cryptocurrencies. We expect to come out with the discussion paper before September.” Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

The so-called open interest or the number of active bets in standard ether futures rose to a record of 7,661 contracts, equaling 383,650 ETH and $1.4 billion in notional terms, the exchange said in an email to CoinDesk. The previous peak of 7,550 contracts was set one month ago. The standard contract is sized at 50 ETH. Read the full article here

There are few bitcoin miners with the same power at their disposal as Iris Energy, Canaccord said in a report on Tuesday. “The company is building 510 MW of data centers in 2024, secured 2,160 MW of power capacity, and has a 1 GW plus development pipeline,” analysts wrote. The broker raised its target for the company to $15 from $12 while maintaining its buy rating. Iris Energy was trading 3% higher at $11.23 in pre-market trading on Nasdaq. Earlier this month, Iris shares slumped 14% after a short seller said its Childress, Texas site was not suitable for hosting…

Sygnum, which is licensed in Luxembourg, Singapore, and its native Switzerland, plans to acquire new licenses in Europe under the Markets in Crypto Assets (MiCA) regulations, which started to take effect last month and introduced a single regulatory environment throughout the 27-nation trading bloc. It also plans to expand its regulated operations in Hong Kong. Read the full article here

Data shows that deBridge is widely used to transfer funds between Ethereum, Arbitrum, Solana and Base, among other blockchains. Since April, it has recorded over 2.3 million transactions and $2 billion in bridged volume, which generated 1.4 billion points for users. Read the full article here

“We settled the first-ever trade on a public blockchain, and it is now on its way from South Africa to London,” said Adrian Vanderspuy, owner and CEO of Oldenburg Vineyards. “The funds came into our AgriDex account in seconds rather than days and the fees were 5 GBP.” Read the full article here

Bitstamp’s action came after multiple Mt. Gox creditors reported receiving assets via Kraken. The trust managing the Mt. Gox assets started sending assets to several crypto exchanges this month, and users will be able to reclaim the funds in the coming weeks. Mt. Gox was once the world’s biggest crypto exchange, handling over 70% of all bitcoin transactions in its early years. Read the full article here

Low liquidity, regulatory uncertainty and speculative behavior contributes to inefficiency in crypto markets. But systematic approaches, including momentum indexes, can reduce risks to investors, says Gregory Mall, head of investment solutions at AMINA Bank. Read the full article here