Coindesk

The cryptocurrency ATOM has experienced significant volatility amid growing concerns about the situation in the middle east.Israel started a bombing campaign in Iran on Friday morning, spurring a market wide sell off.After falling 9.25% from $4.43 to a low of $4.02, ATOM found critical support around the $4.04 level before stabilizing near $4.08. While ATOM and other altcoins have faced pressure during this cycle, Bitcoin has positioned itself alongside gold as a potential safe haven, surging 54% over the past 12 months to reach a $2.08T market capitalization.Technical analysisSignificant selling pressure occurred between 19:00-00:00, with volume peaking at 2.8M during the 02:00 hour as price found support near $4.04.A recovery attempt emerged from the 03:00 hour, with price stabilizing around...

Telegram’s token TON dipped 8% in 24 hours, dropping from $3.20 to a low of $2.93 with significant selling pressure, according to CoinDesk research’s technical analysis model. TON was hit harder than other cryptocurrencies in the CoinDesk 20: the index (which includes the top 20 coins by market capitalization except for stablecoins, memecoins and stablecoins) is down 6.2% in the same period of time.The selloff occurred after Israel struck Iranian facilities and military leadership late on Thursday night.Technical Analysis• TON experienced a significant 8.4% correction, dropping from $3.20 to a low of $2.93 over a 24-hour period.• Above-average volume of 3.36 million established a strong resistance at the $3.09 level.• A notable volume spike of 7.74 million created a high-volume...

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 3027.78, down 4.4% (-137.85) since 4 p.m. ET on Thursday.None of the 20 assets are trading higher.Leaders: BTC (-2.2%) and XRP (-2.9%).Laggards: SUI (-8.2%) and NEAR (-7.8%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

JPMorgan (JPM) raised its price targets for a number of bitcoin BTC mining companies to reflect first-quarter results and changes to the bitcoin price and the network hashrate, the bank said in a report Friday.The bank lifted its CleanSpark (CLSK) price target to $14 from $12, its Riot Platforms (RIOT) objective to $14 from $13 and its MARA Holdings (MARA) target to $19 from $18."Our price targets generally increased due to higher bitcoin prices and improving mining profitability," analysts Reginald Smith and Charles Pearce wrote.JPMorgan said it tweaked the price targets to reflect a 24% increase in the bank's spot bitcoin assumption and a 9% increase to its network hashrate estimate.The hashrate refers to the total combined computational power used...

Chinese tech giant Tencent is exploring a potential acquisition of Nexon, the South Korean game developer behind the hit title Dungeon & Fighter, Bloomberg reports. Nexon is heavily invested in Web 3 gaming, including the ambitious MapleStory franchise.The firm has reportedly approached the family of Nexon’s late founder Kim Jung-ju, who controls a 44.4% stake in Nexon via holding company NXC Corp, to discuss a potential acquisition.Discussions are still preliminary, and there’s no guarantee they will result in a deal, the report states, citing sources close to the matter.If successful, Tencent would be acquiring a company with a $16.6 billion market capitalization, a move that could reignite its ambitions in global gaming M&A after a slowdown sparked by Chinese regulatory...