Coindesk

Polygon's POL token tumbled 6% on Thursday, falling through key support levels as higher-than-expected U.S. inflation data shook risk assets.POL traded in a wide 10% range over the past 24 hours, climbing from $0.25 to $0.26 in early trading before reversing sharply, data from CoinDesk Analytics shows.A burst of selling sent the token down to $0.24, with trading volume spiking to 1.1 million units — more than triple its 24-hour average. The $0.26 mark has now emerged as a significant resistance zone after the high-volume rejection.The selloff came alongside a broader market decline triggered by a U.S. producer price index (PPI) report showing a 0.9% month-over-month rise in July, the biggest jump in more than three years. The data, which...

Crypto prices slipped Thursday after an unexpectedly hot PPI inflation print, but analysts said it's just a pullback within the rally.The CoinDesk 20 Index of largest cryptocurrencies fell 2.1% over the past 24 hours, with bitcoin (BTC) dropping 2.3%. XRP (XRP) lost 4.6% with ether (ETH) outperforming by edging down 0.7%."The pullback is, in my view, simply a recalibration in an otherwise bullish trend," said David Siemer, co-founder and CEO of Wave Digital Assets. "Bitcoin remains firmly entrenched as the anchor of institutional crypto strategies."Bitcoin's (BTC) rush to new all-time highs over $124,000 was fueled by rising expectations for Federal Reserve interest-rate cuts in September coupled with surging ETF inflows and institutional adoption.The Thursday reversal to as low as $118,000...

ATOM-USD saw sharp volatility between 13 August 15:00 and 14 August 14:00, trading between $4.49 and $4.91 with volume spiking to 5.62M units—over 322% above average. After holding in the $4.82–$4.85 range and briefly hitting $4.91, the asset faced an aggressive selloff from 06:00 on 14 August, bottoming at $4.53 at 12:00 on heavy volume, signaling potential capitulation.Buyers quickly stepped in, establishing fresh support near $4.60 and restoring confidence in the Cosmos ecosystem. This price level became a key threshold as selling pressure eased and trading stabilized.During the 60-minute recovery window from 13:20 to 14:19 on 14 August, ATOM rose from $4.60 to $4.61, peaking at $4.64 before consolidating in a tight $4.59–$4.62 range. This confirmed $4.60 as a support...

Nations around the world are at differing stages of evaluating or establishing centralized bank digital currencies (CBDCs).In today's Crypto for Advisors newsletter, we look to the East, as Dr Sangmin Seo, chairman, Kaia DLT Foundation, compares and contrasts South Korea’s closed and controlled CBDC strategy to Japan’s open framework.Then, Patrick Murphy from Eightcap answers questions about how these changes will impact investors in Ask an Expert.– Sarah MortonUnknown block type "divider", specify a component for it in the `components.types` optionWhat Are the Approaches of South Korea and Japan Towards StablecoinsAfter the passage of the GENIUS Act in the U.S., stablecoin projects, implementations and regulations are now a major subject of discussion around the world. South Korea and Japan are both...

Stablecoin payment volumes are projected to exceed $1 trillion annually by the end of this decade, according to a Thursday joint report from crypto market maker Keyrock and Latin American exchange Bitso. That growth will be driven by institutional adoption across business-to-business (B2B), peer-to-peer (P2P) and card payment rails, sectors which have already showed signs of rapid uptake, the authors said. The report underscored why stablecoins are gaining ground in finances: they can outcompete traditional payment methods on both speed and cost. Sending $200 through a bank could carry fees equivalent to up to 13% and take days to settle, while stablecoins can complete the transaction in seconds at a fraction of the price, the report said.Foreign exchange (FX) settlement...