Coindesk

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, said it secured a MiFID II license from Malta allowing it to offer derivative products across the European Economic Area.The license from Malta Financial Services Authority (MFSA) will enable the company to offer perpetual futures and other derivatives across the European Union's 27 nations plus Iceland, Liechtenstein and Norway, once the required conditions are met, Gemini said Friday."There are technical and operational steps to ensure we launch these products in a compliant and secure manner, which we hope to do so in the coming months," a Gemini spokesperson said. Exchanges have been moving into derivatives as the next frontier for revenue growth. One of the largest crypto exchanges, Coinbase (COIN),...

Bettors on crypto prediction platform Polymarket have, in recent months, developed an enviable reputation for beating the bookies.So it came as a surprise on Thursday when they got the outcome of the papal conclave very wrong indeed.Winner Robert Francis Prevost wasn’t among the favorites, with bettors only giving the US-born cardinal around a 1% chance of succeeding Pope Francis ahead of the result.Polymarket bettors, like traditional betting markets, gave Cardinal Pietro Parolin the highest odds, at 28%.With over $28 million of bets placed on candidates other than Prevost, the result was a total wipeout for many bettors.The event throws into question the perceived heightened accuracy of betting markets like Poymarket over conventional polls.Polymarket lets users bet on the outcomes of...

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 3138.72, up 6.0% (+178.07) since 4 p.m. ET on Thursday.Nineteen of assets are trading higher.Leaders: UNI (+13.5%) and NEAR (+11.7%).Laggards: BCH (-0.6%) and POL (+1.1%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.About two weeks ago, I discussed bitcoin's (BTC) bullish breakout above a technical resistance called the Ichimoku cloud and potential for a rally to $100,000. This week, the cryptocurrency obligingly surged into six figures.Now, top alternative cryptocurrencies such as memecoin DOGE, payments-focused XRP, the Ethereum blockchain's ether (ETH) and Solana's SOL have also crossed above the cloud, flashing bullish signals.The analysis, developed by a Japanese journalist in the 1960s, is used to identify support and resistance, momentum and trend change in price actions. The indicator comprises five lines: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K), and a...

By Omkar Godbole (All times ET unless indicated otherwise)As the crypto rally gathers pace ether has widened its lead over bitcoin in terms of volatility expectations, signaling relatively greater action not just in the second-largest cryptocurrency, but in the broader digital asset market as a whole.Deribit's ether implied volatility index (ETH DVOL), which represents the 30-day expected price turbulence, has shot up 11% to an annualized 7% this week while the bitcoin equivalent, BTC DVOL, held steady near multimonth lows around 45%, according to data source TradingView.The divergence has widened the spread between the two to 27%, the most in at least two years. Clearly, traders are anticipating greater volatility in ETH and the broader altcoin market.According to some observers,...