Coindesk

Stablecoin protocol Level raised a fresh round of venture capital to expand its $80 million yield-paying stablecoin as yield-generating digital asset offerings are increasingly in demand with a cooldown in crypto prices.Peregrine Exploration, the development firm behind Level, received another $2.6 million led by early backer Dragonfly Capital with Polychain also participating, founders David Lee and Kedian Sun told CoinDesk in an interview. New investors include Flowdesk, Echo syndicates Native Crypto and Feisty Collective by Path, and angel investors Sam Kazemian of Frax and Albert Chon of Injective.The latest round followed a $3.4 million raise in August, bringing total venture capital funding to $6 million to date.Level, with its lvlUSD token, is competing in the fast-growing stablecoin asset class, one...

A contentious proposal in the Cronos ecosystem drew to a close late Monday, with the community voting in favor of the token supply growing from 30 billion CRO to 100 billion CRO over a 10-year vesting period.That, however, happened after weeks of the community leaning against the switch whilst a few CRO whales — or influential users who hold large amounts of a token — stepped up in the last few hours of the vote’s closure to nudge it into favor.Cronos, tied to crypto exchange Crypto.com, earlier in the month proposed reissuing 70 billion CRO tokens it burned in 2021, aiming to restore its original 100 billion token supply for a "Strategic Reserve.”The supposed $5 billion plan (at current $0.08...

Gold has surged to a new all-time high, surpassing $3,025 per ounce to mark an increase of over 15% in since the turn of the year. Meanwhile, bitcoin is lagging (BTC), down 10% year-to-date. Several factors have contributed to gold’s rally, including significant inflows into gold ETFs and its traditional role as a safe-haven asset during geopolitical uncertainty. Additionally, discussions of new tariffs in the U.S. under President Trump have further fueled demand for U.S. equities. Gold’s historic rally has driven its price up 40% year-over-year, far outpacing Bitcoin's 16% gain.Historically, when gold enters a bull market, bitcoin often stagnates or declines. The two assets rarely move in tandem, though there are occasional periods when both rise or fall simultaneously....

A bullish technical analysis pattern, contrasting with the one in bitcoin (BTC) that warned of a recent market swoon, is seemingly emerging on bitcoin-holder MicroStrategy's (MSTR) price chart.The MicroStrategy pattern, a double bottom, comprises two consecutive troughs at about the same price, said to reflect downtrend exhaustion, and a trendline (a so-called neckline) drawn through the high point between them. A move beyond the trendline confirms the breakout, or the bearish-to-bullish trend change.That's especially true when the pattern unfolds after a notable slide, as in MSTR's case, and the gap between troughs and the high is at least 10%, according to technical analysis theory. In MSTR's case, it's greater than 35%.The chart shows a double bottom in MSTR at around...

Tether, the issuer of the USDT stablecoin, increased its holdings in bitcoin (BTC) miner Bitdeer (BTDR), building on a investment it started almost a year ago.The company financed the acquisition with working capital and now owns 21% of the company, according to a Securities and Exchange Commission filing.Tether first acquired a position in the Singapore-based company last May with a $100 million investment for 18.59 million Class A shares and an option to buy 5 million more at $10 each.Tether is building a portfolio of holdings with its record profits, which came in at $13 billion last year, acquiring a stake in Italty's Juventus FC and bidding for a majority stake in Latin American agricultural commodities producer Adecoagro.Bitdeer's stock is...