Coindesk

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Programmable blockchain Solana is on course to flip its rival and leading smart contract blockchain Ethereum in terms of market capitalization, several observers have said it in recent months.However, for now, Ethereum's native token ether ETH seems to have an upper hand over Solana's SOL SOL , according to technical analysis.The SOL/ETH ratio has dived out of an upward sloping trendline connecting lows in September 2023, June 2024 and December 2024, per data source TradingView. In other words, tables have turned in ETH's favor and the token could outperform SOL in the near-term.Additionally, the weekly chart MACD histogram is printing red, indicating a strengthening of the...

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin BTC rose and stock index futures surged early Thursday after a U.S. court declared President Donald Trump’s broad-based tariffs regime invalid. The positive sentiment was buoyed by AI giant Nvidia's upbeat earnings.On-chain data showed large wallets, those holding over 10,000 BTC, have shifted to selling from buying as the largest cryptocurrency holds close to its record high, with an increase in exchange deposits also pointing to selling pressure. Meanwhile, options market data signaled potential for volatility ahead of Friday's monthly settlement.Ether ETH, the second-largest cryptocurrency by market value, jumped to $2,780, the highest since Feb. 24, consistent with the bullish signals from the derivatives market. The token has been bid this...

Crypto exchange Bybit has been granted a license in Austria in compliance with Europe's framework for dealing in digital assets, the Markets in Crypto Assets (MiCA) regime, according to the website of the local regulator FMA.Europe’s new MiCA rules came into force at the start of this year, prompting firms to select the most appropriate member state to base operations and passport services across the 27-country trading block.Austria is also the MiCA home base of crypto trading firm Bitpanda which also holds a licence in Germany.Founded in 2018 by entrepreneur Ben Zhou, Bybit, which has risen to become the second largest exchange by volume according to CoinMarketCap, is based in Dubai having moved its headquarters from Singapore in 2022.In February...

U.S. Treasury yields are climbing swiftly, with the 30-year yield rising back above 5% and the 10-year jumping to 4.50% after the U.S. Court of International Trade ruled President Donald Trump's key tariff measures illegal. The court said Congress had exclusive authority to regulate trade with other countries, and the president exceeded his authority by invoking emergency economic powers not intended for imposing broad trade levies, according to news service reports. While Wednesday's ruling nullifies the general 10% and reciprocal duties, it does not affect sector-specific tariffs like those on steel or autos. The administration said it plans to appeal the ruling.Over the past two sessions, the 10-year yield has rise from 4.40%, underscoring how sensitive the bond market remains...

The CME's recently launched XRP XRP futures underscore the cryptocurrency's international appeal, with nearly half of its trading volume occurring outside U.S. trading hours.The regulated XRP futures – standard and micro-sized contracts – began trading on the global derivatives giant a week ago, registering a total trading volume of 4,032, worth $86.6 million in the first six trading days, the exchange's spokesperson told CoinDesk.The spokesperson highlighted that "46% of the volume occurred during non-U.S. hours" and nearly half of the trading comes from participants outside the U.S.The data suggest strong international participation in the futures market. XRP is a payments-focused cryptocurrency primarily designed for fast and low-cost cross-border payments. Ripple, a financial technology company, uses XRP and the XRP Ledger...