Coindesk

Shiba Inu has displayed conflicting market indicators in recent trading sessions. The token initially demonstrated bullish momentum with significant volume support, but this quickly gave way to intense selling pressure. Technical analysis reveals SHIB is consolidating below key resistance levels, with traders closely monitoring the $0.00001450-$0.00001600 zone for potential breakout signals. On-chain metrics paint a concerning picture, with declining whale netflows (-311%) and a substantial 68% decrease in active addresses since December. The current market structure suggests continued ranging behavior may precede a decisive directional move, with confirmation requiring a break above the descending trendline resistance at approximately $0.00002044. With only 17% of holders currently in profit while over 80% remain underwater, any significant price increase could face substantial selling...

XRP futures contracts on the Chicago Mercantile Exchange (CME) recorded over $19 million in notional trading volume on their first day and at least $10 million on Tuesday, data shows.The inaugural trade, a block transaction, was cleared by Hidden Road on May 18. CME's XRP futures are available in two sizes: standard contracts representing 50,000 XRP and micro contracts representing 2,500 XRP. Both are cash-settled and benchmarked to the CME CF XRP-Dollar Reference Rate, calculated daily at 15:00 UTC. Standard contracts bagged a volume of 7.5 million XRP on Monday and 2.95 million XRP on Tuesday, while micro contracts did 517,000 XRP on Monday and at least 1.2 million XRP on Tuesday.Market participants see the launch of these regulated futures...

Although bitcoin (BTC) can be traded 24/7 its candles open and close daily similar to foreign exchange markets. The latest data from TradingView shows Tuesday's candle ended (UTC) at $106,830, the highest-ever daily closing price.The bullish move came as investors poured money into the spot exchange-traded funds (ETFs) amid chaotic price action in bond markets that suggested heightened concerns about the fiscal health of major economies, including the U.S.Analysts told CoinDesk last week that the worsening fiscal debt situation could bode well for BTC and other assets such as gold.The Coinbase Bitcoin Premium Index, which measures the percentage difference between the price of Bitcoin on Coinbase Pro (USD pair) and the price on Binance (USDT trading pair), remained positive, indicating...

The U.S. Securities and Exchange Commission sued crypto company Unicoin and three executives on Tuesday night on fraud charges, saying the company raised over $100 million for tokens that were not actually backed by the real estate its executives claimed.The SEC sued Unicoin, CEO Alexander Konanykhin, former board chair Maria Moschini, senior vice president and general counsel Richard Devlin and former chief investment officer and investor relations officer Alejandro Dominguez on securities law violations,Among its allegations, the SEC said Unicoin never actually owned the real estate properties it told investors it had acquired, and that those properties' values were inflated."For example, between September 2023 and January 2024, the Promoting Defendants announced acquisitions of properties in Argentina, Thailand, Antigua, and the...

Apex Group, a financial services provider with more than $3 trillion in assets under administration, said on Tuesday it had acquired a majority stake in Tokeny, a Luxembourg-based firm that helps institutions tokenize real-world assets (RWA) on public blockchains.According to the deal, Apex expects to take full ownership of Tokeny over the next three years, after first investing in the company in late 2023, Apex said in a press release. The companies did not disclose the terms of the acquisition in the press release, and a spokesperson did not immediately return a request for comment.The acquisition comes as more traditional financial firms are looking at tokenization as the next frontier in capital markets, using blockchain technology for moving assets like...