Coindesk

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin and most major cryptocurrencies are weaker after Chicago Mercantile Exchange, a proxy for institutional activity, denied reports of listing futures tied to XRP and SOL. Traditional markets are also holding their breath for the expected Bank of Japan interest-rate increase on Friday.Despite BTC's continued range play above $100,000, retail demand remains robust. Glassnode's shrimp-Crab cohort, which includes addresses holding up to 10 BTC, have absorbed 1.9 times the newly mined supply last month, totaling over 25,600 BTC. Meanwhile, long-term holders have slowed their spending and profit-taking activities, indicating a cautious, but firm, commitment to their investments.Still, dropping below $100,000 might prove costly. According to Wintermute's OTC trader Jake Ostrovskis, that would...

Ethereum layer-2 protocols are processing transactions faster than ever, with Coinbase's BASE at the forefront of this progress.According to data from growthepie.xyz, the cumulative transaction throughput for layer 2s has skyrocketed to 29.64 million gas units per second (Mgas/s), the highest pace ever recorded. BASE leads the way, accounting for 67% of the total. Gas is the fee users pay to conduct a transaction.Layer-2 protocols are scaling solutions built on top of primary blockchains like Ethereum, and are designed to handle a higher volume of transactions at lower cost. The metric of millions of gas units per second reflects the number of transactions the network processes each second.This surge in throughput comes amid concerns that sustained demand for layer 2...

Volatility traders looking to capitalize on significant price swings may soon find opportunities. A key indicator suggests that bitcoin (BTC), currently above $100,000, resembles a coiled spring poised to release energy in either direction.The indicator is the rolling 60-day price range, representing the variation in maximum and minimum price ticks in percentage terms. A tighter range implies stable market conditions characterized by range play and demand-supply equilibrium.Analysis by Glassnode shows that bitcoin's 60-day range is now tighter than the current trading range. Historically, such patterns have presaged volatility explosions."All of these instances have occurred prior to a significant burst of volatility, with the majority being in early bull markets or prior to late-stage capitulations in bear cycles," Glassnode said in...

Bitwise has officially submitted a registration filing for a dogecoin exchange-traded fund (ETF) as memecoin demand grows within the market.A "Bitwise Dogecoin ETF" was submitted late Wednesday and appeared on the Department of State's Division of Corporations in the U.S. state of Delaware. Such filings may often be a spoof, but Bitwise confirmed the registration in a message to The Block.https://x.com/EricBalchunas/status/1882202309293433217That came on the back of investment managers Rex Shares and Osprey Funds filing paperwork for several crypto exchange-traded funds (ETFs), including one for dogecoin.An ETF approval by regulatory bodies like the SEC would provide dogecoin with institutional validation, potentially attracting more conservative investors to the memecoin. Increased demand could drive up DOGE prices if the product captures even a...

An earlier leak on the website of Chicago Mercantile Exchange (CME) showing regulated XRP (XRP) and Solana (SOL) futures could start trading on Feb. 10 pending regulatory approval was an “error,” a representative of the company told CoinDesk.“A beta page from our website was released in error earlier today,” the spokesperson said. “Many mock-ups are included in that test environment. No decisions have been made regarding XRP or SOL futures contracts."A screenshot of a beta page for XRP (XRP) and Solana (SOL) futures contracts was posted on X earlier on Wednesday, sparking rumors that the exchange might get ready to list those investment vehicles on Feb. 10.Both tokens jumped as much as 3% following the post, before paring some of...