Coindesk

Sui’s (SUI) price plunged 4% over the past 24 hours after experiencing substantial market volatility overnight, CoinDesk Analytics data shows.The token’s price fluctuated $0.28, or approximately 7%, between session highs of $3.98 and lows of $3.69. The digital asset initially demonstrated strength, advancing from $3.88 to $3.98 with institutional volume exceeding 18 million units, before encountering significant resistance at the $3.97 to $3.98 level where corporate selling pressure intensified.Trading volume then saw a dramatic reversal, characterized by exceptional trading volume of 35.3 million units, establishing a critical support threshold near $3.71 to $3.72 where institutional buyers attempted to defend valuations.The session concluded at $3.69, representing a 5% decline from opening levels, suggesting continued bearish sentiment among corporate investors despite established...

Ethereum’s transaction volume has been overall on an upward trajectory, closing in its all time high of 1.9 million transactions in a single day in January 2024.The latest surge is drawing attention from both retail traders and institutional observers, as it reflects a confluence of technical improvements, favorable market sentiment, and a renewed appetite for on-chain activity.According to data from Etherscan, daily transaction counts have been consistently trending higher over the past several weeks. Other data shows seven-day averages of daily transactions have already surpassed their previous records.Analysts suggest that this momentum is being fueled by a combination of factors: a recent increase in network capacity, rising ether prices, and a reduction in transaction costs, particularly for decentralized finance (DeFi)...

FG Nexus, the digital assets arm of Fundamental Global Inc., has acquired 47,331 ETH worth roughly $200 million at $4,228.40 per token as part of an aggressive strategy to become one of the world’s largest corporate holders of ether. The Charlotte, North Carolina-based company formally kicked off its accumulation plan on July 30 with a symbolic 6,400 ETH purchase marking the 10-year anniversary of Ethereum’s genesis block, and has since rapidly expanded its holdings through a series of acquisitions.Alongside its buy, the company announced a stock ticker change to FGNX from FGF.X account Lookonchain noted that one entity had been aggressively acquiring ETH over the past few days, with a final $194 million purchase made on Monday.The company has deployed...

Filecoin (FIL) exhibited high volatility throughout the 24-hour trading session, registering a comprehensive 7% range, according to CoinDesk Research's technical analysis model.The model showed that FIL hit a high of of $2.68 and a subsequent low of $2.49, during the period.FIL endured a precipitous decline commencing approximately 07:00 on Aug. 11, down markedly to $2.49 by midday accompanied by robust volume of 8.88 million during the 12:00 trading hour, consequently establishing substantial volume-supported foundations at approximately $2.49, according to the model.The token has recouped some of its earlier losses to trade 2% lower over 24 hours, at around $2.56.The bounce in FIL came as the wider crypto market rose, with the broader market gauge, the Coindesk 20, recently up 1.1%.Technical...

Internet Computer (ICP) reversed after testing the $5.75 level in the early hours of Aug. 11, succumbing to selling pressure that drove the token down to $5.43.ICP appeared to be in a steady consolidation pattern between $5.65 and $5.67 before a rally propelled the token to its $5.75 peak. However, the momentum faded as sellers stepped in heavily after 11:00 UTC. Trading volume surged to 965,595 units — almost double the daily average of 487,064 — as distribution intensified around the $5.61 resistance zone, indicating profit-taking and institutional selling, according to CoinDesk Research's technical analysis data model.Buyers then defended the $5.44 support level, triggering a rebound from $5.46 to $5.54. The climb was fueled by a volume spike to over...