Coindesk

By Omkar Godbole (All times ET unless indicated otherwise)The crypto market is looking to regain some poise after yesterday's tumble with on-chain indicators showing signs of capitulation in bitcoin. Some tokens, like MakerDAO's MKR, stand out with a 20% gain in 24 hours, thanks to the DAO's buyback and burn process.IP, the native token of decentralized intellectual property-focused blockchain Story Protocol, is also in the green, having risen nearly 40%. The token's price has doubled in two weeks after being listed on South Korean exchanges. Other notable outperformers include Celestia's TIA along with XDC, QNT and HYPE. Data tracked by blockchain sleuth Lookonchain shows whales have been buying the dip in the HYPE token. XRP, meanwhile, is hanging on to...

Jeremy Allaire, co-founder and CEO of stablecoin issuer Circle, says companies issuing digital tokens pegged to the dollar should be registered in the U.S.“It shouldn’t be a free pass, right?” Allaire said in an interview with Bloomberg. “Where you can just ignore the U.S. law and go do whatever the hell you want wherever and sell into the United States.” Circle's USDC is the second-largest dollar-backed stablecoin by market cap, lagging behind Tether's USDT.Crypto has featured heavily since the start of President Donald Trump's presidency. In January he issued an executive order laying out specific actions, including one being for the nation to move forward with a more crypto-friendly regulatory framework. In February, Tennessee Senator Bill Hagerty introduced a stablecoin...

Genesis Digital Assets Limited (GDA) is expanding its bitcoin (BTC) mining operations in West Texas with a 50-megawatt (MW) energization increase across its Pyote and Vernon sites.GDA is a private company with offices in the United Arab Emirates and the United States, with a total power capacity of over 600 MW. While the company refused to disclose its total hashrate, GDA Executive President Abdumalik Mirakhmedov claimed it to be “one of the largest bitcoin mining companies in the world in terms of this metric.”For comparison, Bitdeer (BTDR) one of the biggest public bitcoin mining companies in terms of infrastructure, has almost 900 MW worth of capacity, while heavyweights MARA Holdings (MARA) and Riot Platforms (RIOT) have more than 1 gigawatt...

Payments-focused cryptocurrency XRP is down but not out, whereas the outlook for dogecoin (DOGE) appears grim, based on an analysis of Fibonacci retracement levels.XRP reached a peak of $3.40 in mid-January and has since entered a downtrend, with the price dropping 25% this month to $2.28, according to data from TradingView and CoinDesk.While the sell-off has been steep, it corresponds to only a 38.2% Fibonacci retracement of the rally that started at Nov. 4's low of 49.5 cents through the Jan. 16 high of $3.40. A retracement is a drop from the principal trend.That's positive news for XRP bulls, as that level, along with the 50% and 61.8% ratios, indicates potential areas for the price to resume its previous trend,...

Cathie Wood's investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide.ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange's stock fell nearly 6.5% on the day to $212.49.Meanwhile, ARK sold 98,060 shares of its own spot bitcoin ETF (ARKB), worth around $8.6 million.The rout in the cryptocurrency market on Tuesday, saw bitcoin (BTC) fall to a three-month low below $87,000, brought about record outflows from spot bitcoin ETFs in the U.S. The funds registered net outflows of nearly $940 million, the largest single-day sale since they began trading in January 2024, according to data tracked by SoSoValue.The...