Coindesk

As bitcoin BTC pushed past all-time highs and other cryptocurrencies surged, the rise in stablecoin supply is offering a signal that this rally may have deeper roots.Tether’s USDT and Circle’s USDC, the two largest dollar-pegged stablecoins, each reached new record supplies this week, according to TradingView data. Since the start of July, USDC’s market cap has grown by $1.3 billion, reaching $62.8 billion, while USDT added $1.4 billion to hit nearly $160 billion.Looking further back to April, when the market hit a short-term low, the growth is even more pronounced. USDT expanded by $15.2 billion—roughly 10.5%—and USDC added $2.7 billion, or 4.6%.Stablecoins are cryptocurrencies with prices tied to an external asset, predominantly to the U.S. dollar. While they have been...

Bitcoin just blew past $113,800 on Thursday, setting a new all-time high. The oldest digital asset has been on a tear for the last several months — and has nearly doubled over the past year, climbing from $57,899 a year ago today. CoinDesk analysts and industry experts are watching closely to see if bitcoin (BTC) can rise to $120,000, or if this week's price action is just an ephemeral gasp. Unknown block type "divider", specify a component for it in the `components.types` optionJames Van Straten, CoinDesk Bitcoin analyst (18:55 UTC): The 2021 bull run's second half was purely leverage and derivatives-driven. It had a 50% hash rate correction, and all on-chain metrics were bearish, plus we had incoming fed rate...

NEAR traders are demonstrating bullish sentiment over the past 24 hours, with the token advancing from $2.26 to a session high of $2.38 before settling near $2.34. The $0.12 trading range represented a notable 5.04% gain, with peak activity occurring during the July 9 7:00 PM hour when trading volume reached 4.62 million units—nearly triple the session average of 1.73 million—indicating substantial participation and establishing technical support at the $2.29 level. The move comes alongside bitcoin's recent break of $112,000, a new record high as the industry remains patient for a long-awaited altcoin season.Technical Indicators AnalysisPrice range of $0.12 representing 5% movement from $2.26 to $2.38 peak.Volume surge to 4.62 million units during July 9 7:00 PM hour, exceeding 23-hour...

Sui (SUI), the native token of the Sui network, rose nearly 10% in the past 24 hours after several catalysts over the past week pushed the token in a breakout zone.The token delivered a bullish performance, climbing to $3.24 from $2.94 with a trading range of $0.34 that reflects 11.5% volatility, according to CoinDesk Research's technical analysis model. It built substantial upward momentum featuring notable volume surges at $2.99 and $3.10, demonstrating strong institutional accumulation and validating these breakout points as high-volume foundation levels.Critical resistance materialized at $3.27 where the price encountered reversal amid heightened volume, while support stabilized within the $3.20-$3.21 zone during late trading hours, indicating possible accumulation positioning for continued upward movement.The bullish momentum comes after several...

Shares of Bitmine Immersion Technologies (BMNR), the ether (ETH) treasury strategy firm helmed by Fundstrat's Thomas Lee, slid 20% Thursday, extending a 40% drop from the previous day, as the company disclosed plans to raise up to $2 billion through a stock sale agreement.The selloff comes on the heels of Bitmine closing a $250 million funding round and securing an at-the-market (ATM) stock offering deal with Cantor Fitzgerald and ThinkEquity, according to a Wednesday SEC filing. Cantor will act as the lead agent, selling shares directly into the market over time at the company’s discretion.The decline follows a parabolic run for Bitmine, which had surged 3,000% after announcing an Ethereum-focused treasury strategy and naming Fundstrat’s Tom Lee as chairman of...