Coindesk

Stablecoins continue growing into a pillar of both the cryptocurrency world and the global financial system. The market has already surpassed $235 billion, showcasing that people have faith in the future of these assets.Currently, two USD-backed stablecoins (USDT and USDC) have about 90% of the market. The rest of the top-10, including USDe and PYUSD, are all dollar-denominated. Euro-based stablecoins have little market share by comparison. Why is that?There are many discussions around regulation, interoperability, and integration with TradFi. However, the single most important factor is liquidity. Without deep and sustainable liquidity, no stablecoin can gain mass traction, and no amount of regulatory clarity will change that.What’s the Issue With Non-USD Stablecoins?Let’s take the Euro as an example. EUR-backed stablecoins...

Its capital raising efforts likely on hold amid the market panic, Strategy (MSTR) did not add to its bitcoin (BTC) holdings last week.Additionally, the company expects to report a net loss for the first quarter due to a $5.91 billion unrealized loss on its bitcoin holdings, according to a filing Monday morning. This follows the adoption of new accounting rules requiring crypto assets to be marked to market. A $1.69 billion tax benefit is expected to partially offset the loss.Strategy raised a total of $7.69 billion during the quarter, $4.4 billion of that from common stock sales and the rest from preferred stock issuance. Most or all of those funds were used to purchase bitcoin at far higher prices than...

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 2173.26, down 13.5% (-338.56) since 4 p.m. ET on Friday.None of the 20 assets are trading higher.Leaders: BTC (-8.4%) and ICP (-11.0%)Laggards: LTC (-19.7%) and SUI (-18.5%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

President Donald Trump reiterated calls for Fed rate cuts, saying there is no inflation."Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place," Trump said on a Truth Social post on Monday.Trump imposed tariffs on several nations last week, boosting the total levy on China to 54%, which drew retaliatory action. Since then, markets have collapsed, with futures tied to Wall Street's tech-heavy Nasdaq index hitting the lowest since January 2024. Bitcoin fell to under $75,000 early Monday.The risk-off, coupled with OPEC's...

For the first time ever, bitcoin’s (BTC) hashrate hit 1 zettahash (1 ZH/s) on Friday, according to data from Glassnode. The previous record was set on Jan. 31, when the network hit 975 exahashes per second (EH/s). Bitcoin first reached 1 EH/s in 2016 — a milestone that’s now been multiplied 1,000 times.CoinDesk research published on April 3 noted that the hashrate was climbing to record levels, even as bitcoin’s price remained disconnected from this trend. Since then, the price has fallen another 10%, driven in part by President Trump’s tariffs, and is now hovering around $77,000.As the research pointed out, analyzing the hashrate on a 24-hour timeframe can be misleading due to natural block time variability, which is how...