Coindesk

Meme coin posts strong mid-session rally before profit-taking trims gains, with large-holder flows signaling sustained institutional interest.Technical Analysis OverviewDOGE gains 5.6% in the 23-hour period ending August 13, climbing from $0.225 to $0.233 in an $0.0198 range (8.8% volatility). Morning trade establishes $0.220 as firm support on volume above the 24-hour average of 387.7M. Price accelerates between 12:00-20:00, rallying from $0.221 to $0.238 on sustained bid-side demand before evening resistance caps upside.The final hour sees a 1.3% drop from $0.235 to $0.232 as selling pressure builds. A breakdown at 02:00 sends price from $0.233 to $0.232 on 11M volume. Support reappears at $0.232 into the close, but rallies stall at $0.235.News BackgroundWhale accumulation remained a key driver, with over 1B...

Token extends post-settlement rally on strong mid-session momentum, with volumes topping 140 million tokens as buyers test $3.30 resistance.Technical Analysis OverviewXRP rises 4% in the 24-hour period ending August 13, climbing from $3.15 to $3.25 within a $0.20 range (6% volatility). The bulk of gains occur between 12:00 and 20:00, when price moves from $3.15 to $3.30 on volume exceeding 140M units. Resistance forms at $3.30 as buying momentum slows, while support consolidates at $3.25-$3.26, showing orderly profit-taking without breaking bullish structure.The final trading hour sees a 1% retreat from $3.27 to $3.25 as late-session profit-taking emerges. Volume spikes above 5.9M during 00:32-00:33 point to controlled distribution by institutional desks while keeping price above key support.News BackgroundRipple Labs and the...

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.As Asia begins its trading day, ETH is trading above $4600, up 10% in the last 24 hours, as the possibility of a rate cut in September works its way through the market. Some traders see it likely that ETH could quickly challenge its all-time high of $4876 set in 2021.Polymarket bettors are going a step further; they believe that $5000 is possible before the end of August, and they are also giving a 28% chance of the...

Altcoins added to their rally during late Tuesday U.S. afternoon hours after Treasury Secretary Scott Bessent suggested the Federal Reserve should consider a 50 basis point rate cut at its upcoming September meeting."The real thing now to think about is should we get a 50 basis-point rate cut in September," Bessent told Fox News. Bessent added that the Fed could have cut rates in June if it had been given accurate data, which he described as a “foundational issue" at the central bank.Markets had already about fully priced in a 25 basis point move in September, but the idea of 50 basis points appeared to juice things further.To be sure, Bessent is Treasury Secretary and not a member of the...

Oracle service Chainlink's (LINK) native token surged 10% on Tuesday to a fresh seven-month high amid new traditional finance partnership and a recent token buyback initiative.The token topped $24 for the first time since February, extending its rally to 42% in a week. That's the biggest gain during among the top 50 tokens by market capitalization, CoinDesk data shows.Among the catalysts was a fresh collaboration between Chainlink and Intercontinental Exchange, the parent company of the New York Stock Exchange, to bring foreign exchange and precious metals pricing data on-chain. The partnership underscores the network’s expanding role as a bridge between traditional finance and blockchain rails.A token purchase program dubbed the Chainlink Reserve, announced last week in a blog post, aims...