Coindesk

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 2658.12, down 7.2% (-205.91) since Friday at 4 p.m. ET.None of the 20 assets are trading higher.Leaders: ETH (-2.2%) and AAVE (-3.0%).Laggards: LINK (-14.3%) and NEAR (-12.5%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Prices for XRP, the payments-focused cryptocurrency used by Ripple to facilitate cross-border transactions, plummeted over 27% in the week ended March 9, marking its largest weekly percentage decline since November 2022, according to data source TradingView and CoinDesk.The sell-off has brought attention to $1.95, key support, which, if breached, could lead to more profound losses.The level has served as a demand zone while forming a head-and-shoulders (H&S) topping pattern, which has been developing since December. The H&S pattern comprises three peaks, with the middle being the highest and a horizontal demand zone, called the neckline, identified by a trendline connecting the base of the three peaks.A break below the neckline signifies weakness in demand and a bullish-to-bearish trend change in...

On the sidelines from purchasing additional bitcoin (BTC) for the past couple of weeks, Michael Saylor's Strategy (STRK) is at it again.The company during early Monday U.S. hours announced a $21 billion at-the-market (ATM) offering of its Series A preferred stock (STRK), proceeds of which would mostly be used for buying additional bitcon.The news gave a small boost to bitcoin, which — amid yet another panicky Sunday session — traded as low as $80,000 a few hours ago. It's currently changing hands at just above $83,000.Strategy by a mile is the largest corporate holder of bitcoin, with just shy of 500,000 tokens, worth about $42 billion at bitcoin's current price.MSTR shares are lower by 5.5% in premarket action and down...

Since President Trump was inaugurated on Jan. 20, bitcoin (BTC) has dropped from $109,000 to $80,000, making it a classic "sell the news" event. The correction has continued since the digital assets summit on Friday. While the price action may dictate short-term bearishness, bitcoin bulls could view it as a long-term positive catalyst, as the U.S. administration has shifted from a hostile stance under the previous administration to a more favorable one. However, the lack of immediate buying pressure suggests short-term weakness.A similar price action occurred during the much-anticipated launch of U.S. spot bitcoin ETFs in January 2024. From October 2023 to January 2024, bitcoin surged from $25,000 to $49,000—over a 40% rally. However, the launch marked a local top,...

The Senate of Utah, seen by some observers as being the frontrunner to establish a bitcoin reserve, passed a Bitcoin bill that excluded provision for the state treasurer to invest in the largest cryptocurrency. Instead it provides the state's residents with basic custody protections and establishes the right to mine bitcoin (BTC), operate nodes and participate in staking, along with other various other provisions.The senate's passing of the bill on March 7 means it now passes to Governor Spencer Gox to be signed into law. Read More: Market Experts Weigh In on Trump’s Strategic Bitcoin Reserve That Takes Out $17B in Potential Selling From BTCSource link