Coindesk

Net inflows into U.S. spot ether (ETH) exchange-traded funds (ETFs) have picked up in the past five days, with Thursday seeing a record $428.5 million.The inflow was dominated by BlackRock's ETHA, which collected a net $292.7 million, also a record. In the past five days, the ether ETFs have seen almost $800 million in net inflows, according to data from Farside Investors. The flows come after the second-largest cryptocurrency by market cap has risen about 60% in the past month. It's currently trading at around $3,900."Spot ether ETFs now with over $1.3 billion net inflows since July launch," said Nate Geraci, president of the ETF Store. "They have done this despite nearly $3.5 billion of outflows from ETHE, no staking...

Bitcoin (BTC) reached an all-time high above $100,000 earlier this week as a number of tailwinds fueled a post-U.S.-election rally in the world's largest cryptocurrency, Citi (C) said in a research report on Thursday."The nomination of digital asset-friendly Paul Atkins to chair the SEC provided the final boost," that saw bitcoin break through $100,000 to record highs, analysts led by Alex Saunders wrote.The cryptocurrency was trading around $98,500 at the time of publication.Bitcoin continues to be bolstered by exchange-traded fund (ETF) flows and other buying as adoption grows, the bank noted.The macro environment is also constructive for digital assets. Loose financial conditions and resilient growth are positive for crypto tokens, Citi said."Other digital assets likely have more to gain from...

Crypto-tracked futures recorded over $1 billion in liquidations in the past 24 hours as bitcoin briefly nosedived from a Thursday record high above $103,000 to nearly $92,000 early Friday on profit-taking.BTC futures recorded nearly $500 million in net liquidations, with $420 million of those stemming from longs, or bets on higher prices. ETH futures recorded a smaller $85 million in liquidations.Liquidations occur when an exchange forcefully closes a trader's leveraged position due to a partial or total loss of the trader's initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position, that is, they don't have enough funds to keep the trade open.Over 156,000 individual traders were liquidated, and the largest single...

Traders looking to impulsively take exposure to bitcoin (BTC) at record prices due to the "fear of missing out" (FOMO) should note that the market now looks notably confused, a shift away from the recent strong bull momentum.The confusion is evident in BTC's trading on Thursday, as it finally rose to six figures, tapping record highs near $103,900 before plummeting to $91,100, ultimately ending the day in UTC at approximately $97,000, data from TradingView and CoinDesk show. The trading range was so large that it engulfed all the price action since Nov. 20.This led to the formation of a "high wave candle," characterized by a small real body that shows the gap between the open and closing prices, along with...

A heavyweight from the once-hot NFT era is now getting into the cryptocurrency issuance game.Pudgy Penguins launched three years ago as a set of 8,888 NFTs depicting colorful and comical birds.Now, the team behind the project tells CoinDesk that they will release a token called PENGU this year on the Solana blockchain.Nearly a quarter — 23.5% — of the 88 billion PENGU tokens will be reserved for owners of the project's NFT collections like Pudgy Penguins, Lil Pudgys, Pudgy Rods and more. A further 22.02% will be available to the Solana and Ethereum communities, while 12.32% are set aside to provide liquidity on decentralized exchanges."With $PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people who...