Coindesk

By Omkar Godbole (All times ET unless indicated otherwise)The sun shone on crypto markets early Wednesday, with bitcoin having another go at $88,000 amid growing chatter about bullish seasonality factors as March draws to a close and the second quarter looms.The last 10 years of price data tracked by analyst Miles Deutscher show April as the turning point for the market, with a 75% chance of upside between now and year-end. The pattern was noted by QCP Capital as well, which pointed to the second quarter, and April in particular, as bullish for crypto."The S&P 500 has delivered an average annualized return of 19.6% in Q2, while Bitcoin has also recorded its second-best median performance during this stretch - again,...

A rogue actor operating from an Ethereum wallet 'BornTooLate.Eth' has engaged in a governance attack on UMA, a decision-making oracle used by Polymarket, to attack the outcome of a Ukraine-themed contract by becoming one of the largest holders of UMA tokens.UMA is a decentralized "optimistic" oracle protocol that resolves disputes in prediction markets by allowing UMA token holders to vote on contentious outcomes. It has faced its share of controversy for resolving disputed markets, such as Barron Trump's involvement in a Presidential meme coin, the nature of 'finding' the OceanGate submarine, and Venezuela's contested election, drawing criticism due to subjective decisions that frustrated certain market participants.On-chain data shows that BornTooLate.eth has approximately 1.3 million UMA tokens, making them a top-5...

Fidelity Investments is in advanced stages of developing its own stablecoin, the Financial Times reported on Wednesday.The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter.The token would form part of company's strategy to enter the tokenized government bonds market. Stablecoins are a cryptocurrency whose value is pegged to a real-world asset such as the U.S. dollar or gold. They provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market.The news emerges just days after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund....

Bitcoin remained steady above $87,000 in Asian afternoon hours Wednesday as traders continued to monitor U.S. data releases and how the levy of U.S. tariffs will play out starting April 2, with most in wait-and-watch mode.Majors were little-changed in the past 24 hours as Solana’s SOL, xrp (XRP), BNB Chain’s BNB, and ether (ETH) rose under 3%, while memecoin dogecoin (DOGE) outperformed with a 5.5% jump.That was the second-straight day for gains for DOGE, alongside continued bumps in pepe (PEPE) and mog (MOG), as a tendency among these tokens to act as a “beta bet” on ether’s strength showed no signs of reverting.Elsewhere, shiba inu (SHIB) zoomed 11%, buoyed by a rotation to riskier memes and a 228% jump in...

Bitcoin's (BTC) recovery looks to have run out of steam with an emergence of a double top bearish reversal pattern on the short duration price charts. BTC peaked near $87,400 last week, with prices pulling back to around $84,000 on Friday and staging a recovery to above $87,000 before stalling again. This sequence of two prominent peaks at roughly the same level, separated by a trough, hints at a classic double top formation. This bearish pattern often signals the end of an uptrend.The double top pattern typically requires confirmation through a decisive drop below the "neckline," the support level between the two peaks, which lies at around $86,000. Should this occur, BTC could decline toward $75,000 or lower in...