Coindesk

The native token of Hyperliquid (HYPE) surged to a fresh all-time high early Wednesday, continuing its meteoric climb this year as the decentralized exchange best known for on-chain perpetual trading has attracted record activity.The token broke through the $50 mark for the first time, gaining about 8% in the past 24 hours. HYPE is now up 430% since its April nadir and up roughly 15x since it began trading in late November at around $3.The rally has been fueled by record trading activity across the exchange and its automated buyback mechanism, which steadily absorbs tokens from the market and reduces circulating supply.Read more: Hyperliquid Now Dominates DeFi Derivatives, Processing $30B a DayTrading boomThe decentralized exchange recorded more than $357 billion...

In our previous research report titled Bitcoin’s Liquidity Trifecta: Unpacking Liquidity Across On-Chain Data, Market Microstructure and Macro Drivers, we explored how various liquidity indicators could reveal underlying capital flows and liquidity conditions for bitcoin. Applying that same framework to ether (ETH) gives us valuable insight into its current liquidity profile — both on-chain and in the broader market. In this update, we also highlight the growing role of digital asset treasuries (DATs) which have emerged as a key driver behind ETH’s recent rally.Unknown block type "divider", specify a component for it in the `components.types` optionWebinar alert: On September 9 at 11:00am ET join Michelle Noyes from AIMA and Andy Baehr from CoinDesk Indices as they discuss building a sustainable...

Cardano’s ADA token climbed 2% to $0.87 in the past 24 hours, echoing a broader recovery across crypto markets. The CoinDesk 20 Index (CD20), which tracks the largest digital assets, gained 2.8% over the same period.The move came as traders weighed two major developments: growing confidence in a September interest rate cut by the Federal Reserve and the U.S. Securities and Exchange Commission’s (SEC) decision to extend its review of Grayscale’s proposed spot Cardano exchange-traded fund (ETF) until late October 2025.ADA traded in a tight but volatile $0.04 band, swinging between a low of $0.83 and a high of $0.88, according to data from CoinDesk Analytics. That spread of roughly 5% reflected heightened activity. At one point, the token broke...

The largest company in the world by market cap at $4.4 trilion, Nvidia (NVDA) reports earnings after the U.S. market close on Wednesday.Data from Bitcoindata21 on X shows that Nvidia earnings have historically correlated with a positive Bitcoin’s performance. Over the last 10 earnings reports since early 2023, when the current bull market began, bitcoin has posted positive price action following Nvidia results in 7 out of 10 instances.For the quarter, analysts expect Nvidia to report adjusted earnings per share of $1.01 on revenue of $46.2 billion.According to The Kobeissi Letter, the options market is pricing in a 6.1% post-earnings implied move in Nvidia. That translates to a potential swing of roughly $270 billion in market capitalization. It sounds large,...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 4134.18, up 0.5% (+21.8) since 4 p.m. ET on Tuesday.Six of 20 assets are trading higher.Leaders: SOL (+4.1%) and BCH (+2.7%).Laggards: XLM (-2.7%) and FIL (-1.4%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link