Coindesk

The Open Network (TON) cryptocurrency has demonstrated strong momentum, rising 4.1% in the last 24 hours, according to CoinDesk Research's technical analysis model. The price action formed a clear uptrend with higher lows and higher highs, breaking through key short-term resistance levels on high trading volume before consolidating near $3.35.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins and stablecoins — is up 3.7% in the same period of time.Technical Analysis• TON climbed from $3.20 to a peak of $3.39, representing a 6.03% increase.• Price formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout.• Trading volume spiked to 5.77M during the breakout, significantly above the...

South Korean President Lee Jae-myung's Democratic Party submitted a bill to parliament that would allow qualifying companies to issue stablecoins, Bloomberg reported on Tuesday.The Digital Asset Basic Act is aimed at improving transparency and encouraging competition in cryptocurrency, Bloomberg said. Companies would be able to issue their own stablecoins provided they have at least 500 million won ($368,000) in equity capital and can guarantee refunds through reserves as well as receiving approval from the Financial Services Commission. Lee, voted in as president last week, made a number of promises to South Korea's crypto industry during his election campaign, appealing to the nation's 15 million crypto investors. Among them, he said the country should support a won-based stablecoin market "to prevent...

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 3257.3, up 3.3% (+103.91) since 4 p.m. ET on Monday.All 20 assets are trading higher.Leaders: UNI (+21.6%) and AAVE (+17.0%).Laggards: XRP (+0.6%) and BTC (+0.9%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Long-time Ethereum advocate William Mougayar is to be the curator and editor of the Ethereum Market Research Center (EMRC), a community-led initiative aimed at raising the profile of the blockchain's ecosystem among institutional and professional audiences.EMRC will feature contributions from prominent builders, researchers and analysts across the Ethereum landscape. It will include original research authored by EMRC contributors, curated material by external sources, thought-leadership pieces and a real-time news feed.Ethereum comprises a large and innovative ecosystem that plays host to the major stablecoin market share, the proliferation of real-world assets (RWAs) and most of the total value locked in decentralized finance (DeFi). But many argue this has not been reflected in the price of the ether ETH token. That's partly...

By James Van Straten (All times ET unless indicated otherwise)Bitcoin BTC treasury-holding companies continue to be a significant driver of momentum as the largest cryptocurrency by market cap trades just below the $110,000 mark, up 2% in the past 24 hours, and just 2% short of the record high it set last month. Even so, it's underperforming the broader market, as measured by the CoinDesk 20 Index, which has gained 3.4%, and ether ETH, which is more than 6% higher, according to CoinDesk data.According to BitcoinTreasuries.net, the number of publicly listed companies holding bitcoin as a treasury asset has risen to 126, that's growth of 22 in just 30 days. Collectively, then own some 819,000 BTC, up 3.25% in...