Coindesk

A bill proposed in the Philippine Congress would create a government-run bitcoin (BTC )reserve that cannot be touched for two decades except to pay down the nation’s rising debt load, setting some of the strictest sovereign crypto storage rules yet.The proposed Strategic Bitcoin Reserve Act, introduced by Rep. Miguel Luis R. Villafuerte, directs the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 BTC annually over five years for a total of 10,000 BTC."The State shall promote and maintain economic prowess, including monetary stability and the convertibility of the peso, especially in times of crisis. With the increasing role of cryptocurrency in the world's financial system, it is imperative to enact measures aimed at diversifying our assets to ensure financial security,"...

Dogecoin retreated sharply on August 24–25 after spiking to $0.25, as heavy whale transfers to Binance coincided with distribution pressure and fading momentum at key resistance. Despite institutional accumulation earlier in the month, the token is now testing critical support levels.News BackgroundMarket attention turned to DOGE after a 900 million token transfer (valued at over $200 million) was tracked moving to Binance wallets. The move raised concerns about short-term sell pressure just as the token’s rally toward $0.25 ran into resistance. Meanwhile, on-chain data showed whales accumulated over 680 million DOGE in August—suggesting deeper-pocketed investors remain positioned for long-term upside even as near-term technicals weaken.Macroeconomic context also weighed on sentiment. Risk assets pulled back following fresh trade policy headlines and...

News BackgroundXRP extended its rally on August 23 as institutional trading volumes spiked above averages, reinforcing bullish sentiment after weeks of consolidation. The move coincided with dovish remarks from Fed Chair Jerome Powell at Jackson Hole, which strengthened expectations of September rate cuts and triggered rotation into risk assets, including cryptocurrencies. Regulatory clarity following Ripple’s litigation outcome continues to support institutional flows, while analysts now point to ambitious $5–$8 targets should XRP break decisively above near-term resistance.Price Action Summary• XRP climbed 3% during the 24-hour period from August 23 at 15:00 to August 24 at 14:00, rising from $3.02 to $3.09 before consolidating back at $3.02.• The token traded in a $0.09 band, peaking at $3.09 on elevated 58.8 million...

Bitcoin (BTC) fell below $111,000 during the overnight trade, reversing Friday's spike caused by Fed Chair Powell's dovish speech, as a whale sold into illiquid market conditions.The cryptocurrency's price fell by over 2% from $114,666 to $112,546 in under ten minutes to 07:40 UTC. The so-called flash crash occurred when a single whale sold 24,000 BTC, worth over $300 million, according to blockchain data firm Timechainindex.com."This entity liquidated their entire 24,000 balance, sending all of it to Hyperunite. They transferred 12,000 just today and are still actively selling, which is likely contributing to the ongoing price drop," the firm's researcher Sani said on X, adding that the whale still holds a total of 152,874 BTC across all associated addresses, including...

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Bitcoin’s price is holding near records, but the chain itself is quiet. Glassnode data shows transaction fees have collapsed back toward decade lows, even as BTC flirts with six figures.In past cycles, fee spikes tracked bull markets as traders bid for blockspace. This year, the fee curve is flat while price rises, a clear sign that onchain demand is no longer driving the market.A new report from Galaxy Research shows median daily fees have fallen more than 80%...