Coindesk

Cardano has continued to advance its credentials as a venue for Bitcoin Defi (BTCFi), facilitating a transfer of Ordinals to its mainnet.The on-chain transaction between Bitcoin and Cardano was facilitated by BitVMX, an interoperability protocol built using the BitVM programming language. The transaction was unveiled by Input | Output (IO), the creator of the layer 1 Cardano, at the Bitcoin 2025 conference in Las Vegas on Tuesday.The bridge represents a "preview of what is to come," IO said in an emailed announcement. Its ultimate aim is a full integration between Bitcoin and Cardano, providing DeFi services for BTC users and unlocking huge amounts of liquidity from the value stored in bitcoin.To this end, IO has developed the "Cardinal" protocol, a...

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Ether ETH appears poised to surpass the $3,000 mark as it forms an "ascending triangle" pattern on the price chart.The ascending triangle is characterized by horizontal upper-bound resistance or supply point that repeatedly caps gains and an upward-sloping support line.Ether has faced resistance at $2,735 multiple times over the past two weeks, while subsequent reaction lows have been rising. The price action represents an ascending triangle.The higher lows indicate that buying pressure is rising, which is what gives the ascending triangle its bullish nature. In other words, the pattern represents accumulation that usually sets the stage for the next leg of higher prices.An expected breakout from...

The U.S. Securities and Exchange Commission (SEC) has formally initiated a review of the WisdomTree XRP Trust, a proposed spot exchange-traded fund (ETF) that would provide investors with exposure to XRP XRP.Filed by the Cboe BZX Exchange, the application marks the first formal SEC review of a U.S.-based spot XRP ETF. If approved, it would be the first spot XRP ETF in the U.S. — a milestone that could open the door for similar products across other crypto assets.The product would track XRP’s market price via the CME CF Ripple-Dollar Reference Rate, allowing investors to gain XRP exposure through traditional brokerage accounts, bypassing the need for private keys or self-custody.The SEC published its notice under Release No. 34-103124, initiating a...

The 11 U.S.-listed spot bitcoin exchange-traded funds (ETF) have registered a net inflow of $5.77 billion this month, the highest since November, according to data source SoSoValue. Most of these bets have been bold directional plays, with interest in cash-and-carry arbitrage plays picking up recently. Such has been the investor demand that these ETFs have experienced net outflows on only four days since mid-April.BlackRock's IBIT has received the most inflows, with bitcoin's spot price hitting fresh record highs above $110,000.Source link

Cetus Protocol, the largest decentralized exchange (DEX) on the Sui blockchain, has secured a loan from the Sui Foundation to compensate users in full following a $223 million exploit last week.These funds apply only to cover the bridged assets, and are separate from the frozen funds subject to an onchain community vote.“Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote,” Cetus said in an X post. “This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible.” The recovery plan hinges partly on the outcome of a pending on-chain governance proposal,...