Coindesk

Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk & Jamie Crawley, reporters at CoinDesk.In this issue:Nasdaq-Listed SoFi Taps Bitcoin Lightning for RemittancesBitcoin DeFi Project Enters Solana with BTC-Backed Token YBTCValantis Acquires stHYPE, Expanding Liquid Staking Reach on HyperliquidHyperbeat Secures $5.2M Backing From ether.Fi, Electric CapitalUnknown block type "divider", specify a component for it in the `components.types` optionNetwork NewsSOFI TAPS BITCOIN LIGHTNING FOR REMITTANCES: SoFi Technologies will soon allow remittance payments on top of the Bitcoin layer-2 Lightning Network through a partnership with Lightspark, aiming to bring real-time international money transfers to its members. SoFi's remittance product, which is expected to roll out later this year, will allow users to...

Hedera Hashgraph’s HBAR token faced heavy selling pressure during a volatile 23-hour stretch between August 19 at 15:00 and August 20 at 14:00, sliding 3% from $0.24 to $0.23. The token traded within a tight $0.01 band, marking a 4% spread between its session high and low, as traders adjusted exposure across alternative digital assets. Analysts highlighted the $0.24 level as a key point of resistance, where buying momentum faded and downward pressure intensified.The most pronounced activity came during the final hour of trading on August 20, when volumes surged to 85.82 million HBAR. Market observers noted that the token tumbled to $0.23 before staging a modest recovery into the close, a pattern that underscored the elevated volatility. The heavy...

XLM slipped into a pronounced bearish trajectory over the past 24 hours, trading between $0.39 and $0.40 and breaking below key support levels. The token’s volatility intensified during the final trading hours of Aug. 20, when prices fell from $0.40 to $0.39, marking a decisive breach of support that had previously provided buying momentum. The move signals continued pressure on the asset despite its attempts to consolidate around the $0.40 threshold.Trading data revealed heightened distribution activity, with turnover hitting 45.04 million during the 13:00 session—well above the 24-hour average. The spike in volume underscores notable institutional participation in the sell-off, amplifying downward momentum. XLM’s failure to hold above resistance levels and its breach of multiple intraday supports point to bearish...

Crypto exchange Kraken has acquired the assets and technology of Capitalise.ai, an Israel-based startup that built a natural-language, no-code platform for automating trading strategies across multiple asset classes, the company said in a press release Wednesday.Keefe, Bruyette & Woods, a Stifel company, acted as financial advisor to Capitalise.ai. Financial details of the acquisition were not disclosed.Founded in 2015, Capitalise.ai developed a system that lets users turn everyday text into executable trading strategies. The company’s technology supports real-time and historical data analysis spanning equities, crypto, FX, futures and options. Its tools have been used by a range of traditional finance brokers and exchanges.Kraken said it will begin rolling out Capitalise.ai’s features on its Kraken Pro platform later this year. The move...

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 3984.95, up 1.1% (+41.61) since 4 p.m. ET on Tuesday.Nineteen of 20 assets are trading higher.Leaders: LINK (+5.9%) and AAVE (+4.2%).Laggards: BCH (-0.8%) and XRP (+0.1%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link