Coindesk

Bitcoin recaptured the $110,000 level for the second consecutive day, perhaps dragged higher by even larger gains among altcoins.Up 0.9% more than 1% in the last 24 hours, bitcoin was trading just above $110,000 shortly after the close of U.S. stock markets Tuesday. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, exchange coins and memecoins — has risen 3.3% in the same period of time, mostly thanks to ether ETH, solana SOL, chainlink LINK all gaining 5%-7%.The standout performances, however, were put on by uniswap UNI and aave AAVE, which soared a whooping 24% and 13%, respectively. The move was prompted by optimistic comments on the topic of DeFi by Securities and...

Solana SOL surged 5% in after U.S. hours on Tuesday on a Blockworks report saying that U.S. regulators are moving forward in the regulatory process necessary to make spot SOL exchange-traded funds (ETF) reality.The U.S. Securities and Exchange Commission reportedly asked prospective issuers to amend their S-1 filings in the next week, according to the story, and will comment on the paperwork in the next 30 days after submission.SOL jumped above $164 in the minutes following the report, up nearly 5% over the past 24 hours.After the debut of bitcoin BTC and ether ETH spot ETFs in the U.S. last year, asset managers are racing to get regulatory approval to launch similar vehicles for smaller cryptocurrencies, offering traditional investors easier...

Bitcoin’s BTC rise to new all-time highs is happening on a backdrop of deep economic strain, according to a new report from Cathie Wood-led ARK Invest.Bitcoin's 11.1% climb in May, outpaced gold and broke through key resistance levels, said ARK. Gains also coincided with clear signs of stress in the housing and auto sectors, traditionally seen as pillars of U.S. consumer strength.In housing, the number of sellers has far outpaced buyers, a trend ARK links to the Federal Reserve’s steep rate hikes since 2022. With affordability deteriorating, pressure is mounting on prices in what remains the largest source of household net worth. Meanwhile, auto sales, which surged earlier this year in anticipation of tariffs, collapsed in May — falling to...

The House Agriculture Committee sent a major bipartisan message with a 47-6 advancement of the U.S. crypto market structure bill on Tuesday, marking the first of several expected developments in the advancement of digital assets legislation expected this week. A second congressional panel, the House Financial Services Committee, was also hashing out some of the final details on Tuesday on the bill to set up digital assets market oversight, and at the same time, the Senate's legislation to regulate stablecoin issuers was rolling toward a final vote.This year's effort to finally set the U.S. stage for crypto trading, known as the Digital Asset Market Clarity Act, was the focus special hearings called markups in which congressional panels consider amendments and...

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...