Coindesk

Prediction market platforms Polymarket and Kalshi spend a lot of time and money convincing regulators they’re not gambling.Outside of the U.S. authorities are viewing prediction markets as synonymous with gambling. Taiwan, France, and now Singapore have all made moves to block users from accessing Polymarket at the ISP level, calling the prediction market platform an unlicensed gambling operation of some sort.Prediction markets are investment tools, where traders take a position on the outcome to a question.Parties and counter-parties have differing opinions on how to price the the competing sides of the question, and the market engages in price discovery. Should the event occur, each share will be worth $1, or $0 if the event fails to materialize.This isn't a game...

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 3447.59, up 4.2% (+139.62) since 4 p.m. ET on Monday.All 20 assets are trading higher.Leaders: APT (+6.8%) and FIL (+6.8%).Laggards: XLM (+1.4%) and DOT (+2.7%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

The runaway success of Base, the Coinbase-owned Ethereum overlay blockchain designed for faster, cheaper transactions, has prompted the creation of a market linked to the fluctuating cost of the total gas needed to power the network, allowing speculators to bet on recurring utility spikes on the layer 2 system.Taking a cue from the way traders speculate and hedge in traditional energy markets, Alkimiya, a startup backed by Coinbase Ventures as well as firms like Dragonfly and Castle Island Ventures, enables users to go long or short on the cost of transactions being included in blocks, or “blockspace” – a representation of the storage and computational capacity of a blockchain.“Paying for blockspace is like paying for other energy sources, such as...

The consolidation between $90,000 and $100,000 for bitcoin (BTC), continues to play with investor sentiment, swinging from fear to greed.On Monday, bitcoin fell below $90,000, while it is above $96,500 on Tuesday, up over 8% . Bitcoin bull Tom Lee, head of research at Fundstrat, told CNBC on Monday that he sees this current correction in bitcoin as normal."Bitcoin is down 15% from its highs for a volatile asset, which is a normal correction," he said.Glassnode data shows that bitcoin in this current cycle has seen relatively mild drawdowns of around 15%-20%, much smaller than previous bull market drawdowns, which saw as much as 30%-50% drawdowns, showing the asset is becoming more mature.According to Lee, $70,000 is a line in...

Bitcoin (BTC), continues to get further entrenched into the traditional finance system. Italy's largest bank by assets, Intesa Sanpaolo, has bought 11 BTC for over $1 million, according to a Reuters report.Reuters saw an internal message that said, "As of today, Jan. 13, 2025, Intesa Sanpaolo owns 11 bitcoins".Intesa Sanpaolo currently has a market capitalization of roughly $73 billion, putting it at 247 out of the top 250 most valuable companies. The share price is slightly higher today, up over 2%.According to Reuters, Intesa has had a proprietary trading desk in place for the past few years and also handles spot trading for other cryptocurrencies.BTC is up 2% on Tuesday, trading over $96,500, after plunging over 5% on Monday, touching...