Coindesk

Stellar’s XLM token came under heavy institutional selling pressure between August 17 at 3:00 PM and August 18 at 2:00 PM, sliding from $0.43 to $0.41 in a 6% decline. Trading volumes during the 24-hour period topped $30 million, representing roughly 7% of daily turnover. The most notable liquidation event occurred between 1:00 AM and 3:00 AM on August 18, when institutional sellers offloaded more than 60 million tokens. This selloff forced XLM down from $0.42 to $0.41, creating strong resistance at the $0.42 level and defining new support near $0.41. Despite attempts at recovery, the asset consistently failed to breach the resistance zone, signaling persistent institutional bearishness and leaving XLM vulnerable to further downside.The final trading hour on August...

Internet Computer Protocol (ICP) fell over the last 24 hours, losing 7% of its value. The token dropped to a low of $5.27, breaking through critical support levels and raising concerns about sustained institutional interest in the project, according to CoinDesk Research's technical analysis data model.Market data showed ICP falling below the $5.48 support threshold during the early hours of Aug. 18, with trading activity spiking to 708,905 units, nearly double the daily average of 386,248 units. Analysts flagged this pattern as evidence of coordinated selling among large investors and corporate treasury desks. A bounce was short-lived, with the token falling back to $5.29. The crypto market at large is dealing with bearish pressure following an ignition of concerns over...

Protection against price drops in BlackRock's spot bitcoin (BTC) exchange-traded fund (ETF), is now at its priciest since the early April market slide.On Monday, the spread between implied volatilities (IV) for 25-delta puts and 25-delta calls for the iShares Bitcoin Trust ETF (IBIT) rose to 4.4, the widest since April 10, according to data source Market Chameleon.In other words, put options, which insure the buyer against price drops in the underlying asset, traded at a premium of 4.4 IV relative to calls, or bullish bets. It's a sign investors are increasingly seeking protection against price declines, reflecting growing concerns about IBIT's near-term outlook.IBIT gapped lower at $65.72 on Monday, tracking overnight losses in the spot bitcoin market. At press time,...

The Bitcoin network hashrate rose 4% in the first two weeks of the month to an average of 937 exahashes per second (EH/s), Wall Street bank JPMorgan (JPM) said in a research report Monday.The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty.The combined hashrate of the 13 U.S.-listed miners the bank tracks rose 94% year-on-year, almost double the 48% increase in the network hashrate. The U.S. miners now account for 33.6% of the global figure, the highest level on record."We estimate miners earned ~$56,300 in daily block reward revenue per EH/s over the first two weeks of the...

XRP slid to $2.97 in its sharpest decline in weeks, shedding 5.4% over a 23-hour stretch as retail selling overwhelmed order books. The move came on surging volumes that eclipsed daily averages, but whale wallets quietly absorbed the dip — scooping 440 million tokens worth $3.8 billion. The divergence between retail capitulation and institutional accumulation sets up a pivotal point around the $3.00 mark.News Background• XRP fell from $3.14 to $2.97 in under 24 hours, posting its steepest pullback since July.• Whale buyers added 440 million XRP even as retail traders dumped holdings.• A symmetrical triangle pattern has formed, with a breakout target near $3.90 if resistance clears.• Broader crypto markets saw correlated weakness amid rising risk-off sentiment.Price Action Summary•...