Coindesk

BONK, the Solana-based meme token, endured sharp price swings during the last 24 hours, reflecting both selling pressure and large accumulation. The token moved within an 8% range between $0.0000197 and $0.0000212, ultimately consolidating near $0.0000205.The heaviest selling occurred during the Aug. 25 evening, when BONK fell about 5% from $0.0000208 to $0.0000197 on trading volume exceeding 1.8 trillion tokens, substantially above daily averages, according to CoinDesk Research's technical analysis data model. Buyers reentered at these levels, building technical support around $0.0000197 and driving prices back into a narrow consolidation band between $0.0000203 and $0.0000205.Corporate participation helped reinforce market confidence. Safety Shot Inc., a Nasdaq-listed company, confirmed a $30 million financing arrangement on Aug. 25, with $25 million denominated in...

SharpLink Gaming (SBET), the Nasdaq-listed digital asset treasury firm led by Ethereum co-founder Joe Lubin, added 56,533 ether (ETH) to its balance sheet last week, lifting its total holdings to almost 800,000 ETH worth about $3.6 billion.The purchases, made between Aug. 18 and Aug. 24, averaged $4,462 per ETH, according to a Tuesday press release. SharpLink also reported staking rewards had risen to 1,799 ETH since the firm launched its treasury strategy in June.The Minneapolis-based company also disclosed in the update that it raised $360.9 million in net proceeds last week through its at-the-market (ATM) share issuance program. There's about $200 million in cash still available for further ETH acquisitions, the firm said.SBET rose 1.1% in the early minutes of...

Digital asset manager Bitwise is preparing to launch a spot-based exchange traded fund (ETF) focused on holding the native token of Chainlink (LINK), a first in the U.S.According to the S-1 registration statement filed with the U.S. Securities and Exchange Commission on Tuesday, the Bitwise Chainlink ETF aims to provide investors with direct exposure to LINK and named Coinbase Custody as the proposed custodian for the tokens.The filing fits into a broader trend of asset managers seeking to launch altcoin-focused spot ETFs in the U.S. as regulatory headwinds receded under the Trump administration, following the success of bitcoin (BTC) and ether (ETH) vehicles.LINK bounced 5% from the overnight lows on the news, but was still down 1.6% over the past...

Bitcoin (BTC) has bounced from early Asian-session lows near $108,760 to over $110,000, but the prospects of sustained recovery appear bleak as on-chain activity points to weak network adoption."The price momentum is weakening with the RSI close to the oversold zone and a bearish MACD," said Timothy Misir, head of research, BRN. "The Spot CVD at –$199 million shows that sellers are in control with spot volume signaling a lack of demand bid. Conversely, Daily Active Addresses fell to 692K (below the low band), signaling weaker network participation." The broader market remains under pressure with the CoinDesk 20 and CoinDesk 80 indices down 2% and 1.7% on a 24-hour basis.Derivatives PositioningLeveraged crypto bulls have been burned, with futures bets worth $940...

Stellar’s native token XLM faced intense pressure over the past 24 hours, plunging from a session high of $0.398 to a low of $0.380. The 5% swing unfolded amid heavy sell-side activity, with the most dramatic capitulation striking on Aug. 25 at 19:00 UTC, when prices tumbled from $0.393 to $0.387. That move coincided with a surge of 46.16 million tokens changing hands—well above the daily average—effectively locking in $0.393 as a formidable resistance zone.The selloff reached its peak just an hour later as XLM tested the $0.380 support level on unprecedented trading volume of 95.27 million tokens, confirming the level as a critical line of defense for bulls. Despite the pressure, the token rebounded into the close, clawing back...