Author: Coindesk

“Crypto + AI” is personified by Erik Voorhees. His career has spanned the eras. In 2012, when Voorhees launched the blockchain-based gambling game “Satoshi Dice” — which once accounted for half of all Bitcoin transactions — he pioneered a novel use case for cryptocurrency.The founder of the decentralized exchange ShapeShift is now applying the ethos of bitcoin to the next wave of AI, launching Venice.AI with the humble goal of “unfettered civilizational advancement.” In announcing Venice on May 10, Voorhees explained that the app is similar to ChatGPT or Claude but “without all the Orwellian stuff,” and that Venice doesn’t…

<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 3744.31, up 5.2% (+185.86) since 4 p.m. ET on Tuesday.All 20 assets are trading higher.Leaders: RENDER (+13.5%) and ETC (+11.3%).Laggards: BTC (+2.4%) and ETH (+2.6%).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

XRP is hot and it is probably setting up for another big rally. That’s the message from the price chart and options market.The payments-focused cryptocurrency is down 10% this week. The pullback, however, has taken the shape of a bull flag. This technical analysis pattern usually slopes in the opposite direction of the preceding sharp uptrend and, more often than not, recharges bulls’ engines for further gains.”The breakout should be expected in the direction of the preceding trend, provided it is steep and sharp,” Charles Kirkpatrick, a chartered market technician and the president of Kirkpatrick & Company, Inc, said in the…

A trader turned $2,500 into $200,000 by buying XRP futures with 500x leverage on cryptocurrency exchange Rollbit on Tuesday.XRP jumped by 26% during U.S. trading hours after Ripple Labs, the company behind XRP, received “final” regulatory approval to offer the RLUSD stablecoin in the U.S.The savvy trader opened a position worth $2,560 when XRP was trading at $1.9025 and the amount of leverage meant that the position would have been liquidated if price slumped below $1.9004. The position was closed gradually between $2.13 and $2.29, netting a realized return of around 7,500%.XRP is trading at $2.34 as it continues to…

By Omkar Godbole (All times ET unless indicated otherwise)If you’re waiting for a spark to ignite a Santa rally in bitcoin and the wider crypto market, today’s U.S. inflation release might just be it.Initially, I wasn’t sure the report matters anymore. Obsessing over prices feels so 2022, when inflation was through the roof and the Fed squarely focused on interest-rate hikes to tame the beast. Recently, though, CPI has been below 3% and the Fed has cut rates, focusing on balancing employment and price stability.The November report is <a href=”https://economictimes.indiatimes.com/markets/stocks/news/asian-stocks-fluctuate-as-traders-await-us-cpi/articleshow/116192395.cms?from=mdr” target=”_blank”>expected to show</a> a slight uptick in price pressures and…

Italy is set to trim its planned tax increase on crypto capital gains, Reuters reported on Tuesday.Two months ago, the government was intent on raising the tax to 42% from 26% by the end of December. “The tax increase will be significantly reduced during the parliamentary work,” lawmakers Giulio Centemero and Federico Freni, a junior minister at the Treasury, said in a statement according to Reuters.The decision to increase the capital gains tax was inspired by the rising popularity of investments in crypto, especially bitcoin, which climbed above $100,000 last week. The “phenomenon is spreading,” Deputy Finance Minister Maurizio Leo…

Evan Cheng didn’t just build another blockchain when he created Sui. He engineered a paradigm shift.Over the past year, Sui, one of the darlings of the bull market, has blown past $1.5 billion in total value locked (TVL), up from just over $200 million at the start of the year, thanks to the market’s confidence in its new infrastructure developments, such improvements to Sui’s underlying Move programming language, and the launch of Circle’s USDC on the chain.VanEck’s Sui exchanged-traded note, which launched in November, passed $140 million in assets under management, demonstrating institutional interest in the chain.As the founder of…

XRP outperformed bitcoin and other major cryptocurrencies, with dogecoin (DOGE) leading losses in the past 24 hours before the release of U.S. inflation data later Wednesday.Bitcoin (BTC) remained steady around $98,000, while ether (ETH), BNB Chain’s bnb, and Cardano’s ADA fell by as much as 2%. Memecoin DOGE dropped 4%, even as shiba inu (SHIB) and floki (FLOKI) rose 1%. The broad-based CoinDesk 20 added 0.69%.The U.S. Bureau of Labor Statistics is due to release November’s consumer price index (CPI) at 8:30 a.m. ET (13:30 UTC). Federal Reserve Chair Powell has said that incoming economic data will heavily influence interest-rate…

Binance, the world’s largest cryptocurrency exchange, has formed a strategic partnership with stablecoin giant Circle to accelerate global adoption of the USDC stablecoin, the companies said on Wednesday at Abu Dhabi Finance Week.Through the partnership, Circle’s USDC will be more extensively available to over 240 million customers for trading, savings and payments. Binance will also adopt the second-largest stablecoin as “a vital dollar stablecoin” for its own corporate treasury, according to a press release.”Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across…

For the third week, bitcoin (BTC) remains locked in a price range between $90,000 and $100,000, punctuated only by Dec. 5’s short-lived rise into six figures.This indecisive price action might have left traders feeling uninspired, with two key reasons holding back the upside.First, the influx of liquidity into the crypto market through channels like spot exchange-traded funds (ETFs) has significantly slowed, taking the wind out of the bullish momentum.The weekly rate of change in the so-called market liquidity impulse index, which tracks stablecoin mints, inflows into BTC ETFs and changes in futures market parameters, has more than halved to $7…