Author: Coindesk

Solana Foundation’s former stablecoin lead Anna Yuan has left the mothership to build her own startup catering to the fast-growing crypto subsector.The company building Perena, a stablecoin trading infrastructure project, raised “around $3 million” in a pre-seed funding round led by Borderless Capital, Yuan told CoinDesk in an interview last month.Perena isn’t solely focused on launching another stablecoin. Instead, it’s creating on-chain systems that allow the seemingly endless droves of other stablecoin newcomers to have good trading liquidity, even in nascency.That’s the funny thing about stablecoins. While their exact backing recipes may slightly differ, most every stablecoin gets its value…

<a href=”https://www.coindesk.com/indices/” target=”_blank”>CoinDesk Indices</a> presents its daily market update, highlighting the performance of leaders and laggards in the <a href=”https://www.coindesk.com/indices/cd20/” target=”_blank”>CoinDesk 20 Index</a>. The CoinDesk 20 is currently trading at 3895.67, up 1.7% (+65.05) since 4 pm on Wednesday.Seventeen of 20 assets are trading higher.Leaders: LINK (+15.9%) and UNI (+8.6%).Laggards: HBAR (-0.4%) and BTC (-0.4%). The <a href=”https://www.coindesk.com/indices/cd20/” target=”_blank”>CoinDesk 20</a> is a broad-based index traded on multiple platforms in several regions globally. Read the full article here

Investor demand, onchain metrics and network activity are setting up ether (ETH) to reach a $5,000 level for the first time, CryptoQuant analysts said in a report.Ether spot ETFs posted a 13-day inflow streak on Wednesday to reach nearly $2 billion in cumulative net inflows. The funds attracted their first billion from July to early December, but SoSoValue data shows that they needed only five trading days to capture the next billion.Total daily transactions hovered around the 6.5 million to 7.5 million level in the past few months, compared to about 5 million through 2023, indicative of higher network activity.Meanwhile,…

By Omkar Godbole (All times ET unless indicated otherwise)The crypto market is looking to maintain the bullish momentum ignited by Wednesday’s U.S. CPI report, which matched estimates and cleared the path for another Federal Reserve rate cut next week. BTC has retaken $100,000 and ether is again eyeing $4,000. A number of tokens, including AAVE and LINK, are trading 10% higher on the back of accumulation by wallets tied to World Liberty Financial, the project supported by President-elect Donald Trump’s family.The key question now is whether BTC’s rally will be long-lasting. It could be, thanks to bitcoin’s consistent price premium…

Bitcoin (BTC), the largest cryptocurrency by market capitalization, is fighting a big milestone trying to sustain a $2 trillion market cap and a $100,000 price.Once bitcoin has conclusively overcome these milestones, there may be clear skies ahead. Bitcoin has rallied over $30,000, since Donald Trump won the U.S. election in November, which coincided with many coins leaving exchanges, but primarily BTC leaving in large chunks.Glassnode data shows that transactions worth more than $10 million of bitcoin have been leaving exchanges at a rapid rate which signals aggressive buying from an institutional level. Many of these transactions appear to be coming…

Bitcoin (BTC) traders could be in for another thrilling ride. A key technical indicator that presaged November’s price surge is positioned precisely as it was then, signaling a potential volatility explosion ahead.That indicator is the Bollinger bandwidth, a tool used to gauge impending changes in market jumpiness. For bitcoin, the bandwidth has narrowed to less than 10%, a level not seen since Nov. 4, the day before the U.S. elections. The largest cryptocurrency subsequently surged to $100,000 from $70,000 in four weeks.Bollinger bands mark levels two standard deviations above and below the 20-day moving average of an asset’s price. The…

Assetera, a Polygon-powered MiFID-licensed trading venue for blockchain-based securities in Europe, has listed Backed Finance’s tokenized assets, offering non-U.S. investors to gain exposure to trackers linked to some of the most sought-after U.S. companies.The initial launch includes tokenized trackers tied to the Nasdaq-listed Coinbase (COIN), one of the largest crypto exchanges in the world, the chip-maker Nvidia (NVDA), a bellwether for all things artificial intelligence (AI) and risk assets, and the blue-chip index, the S&P 500 (SPX), the company said in the press release shared with CoinDesk on Thursday.The platform plans to list tokenized Treasury bills, or short-term U.S. government…

Vancouver, British Columbia’s city council has passed a motion to explore the possibility of accepting bitcoin (BTC) for payment of taxes and fees as well as establishing a bitcoin reserve.The motion, prepared by Mayor Ken Sim, calls for “diversifying the City of Vancouver’s financial reserves and payment options to include bitcoin.””It would be irresponsible for the City of Vancouver to not look at the merits of adding bitcoin to the City’s strategic assets to preserve the City’s financial stability,” reads the motion.The motion calls for City staff to report back to the Council on the feasibility of a “bitcoin-friendly city”…

Crypto wallets connected to the Trump family-supported World Liberty Financial project purchased millions of dollars worth of various major tokens early Thursday, causing their prices to rocket.World Liberty Financial is a unified platform where users can borrow and lend cryptocurrencies, create liquidity pools and transact with stablecoins. WLFI serves as a governance token for the platform.President-elect Donald Trump is “chief crypto advocate” of the project. Two of his sons, Eric and Donald Trump Jr., are “web3 ambassadors,” while Barron holds the title of “DeFi visionary.”Data shows the project purchased $10 million in ether (ETH), and $1 million each in aave…

Only 0.55% of Microsoft (MSFT) shareholders voted for a proposal to put bitcoin (BTC) on the company’s balance sheet, according to a recent company filing with the Securities and Exchange Commission.The proposal to add bitcoin to Microsoft’s balance sheet was put to a shareholder vote on November 10 and was put forward by the National Center for Public Policy Research, which recommended that Microsoft allocate 1% of its total assets to BTC as a potential hedge against inflation.Microsoft’s board opposed the proposal, citing Bitcoin’s volatility and favoring stable investments, despite Michael Saylor’s pitch highlighting MicroStrategy’s success and Microsoft’s $200 billion…