Coindesk

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 3837.79, down 0.0% (-1.86) since 4 pm ET on Thursday.Nine of 20 assets are trading higher.Leaders: HBAR (+5.5%) and APT (+3.7%).Laggards: RENDER (-2.6%) and SOL (-2.1%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin and ether's bull momentum has hit a roadblock. The U.S. Producer Price Index (PPI) came in hotter than expected Thursday, prompting investors to tighten their stances and keep a bid for the dollar, as we anticipated. There's also the Truflation index stirring up concern. Seen by some as more reliable than government numbers, it rose above 3% for the first time in over two years.But guess what? Fed fund futures remain confident the central bank will cut rates by 25 basis points next week, and traders on decentralized exchanges, who have a knack for catching big trends, remain as bullish as ever. The sentiment is reflected in the impressive $64.8 million...

MicroStrategy (MSTR), the software company founded by Michael Saylor, is not the only large-scale corporate buyer of bitcoin (BTC), JPMorgan (JPM) said in a Wednesday report. Crypto miners are also adopting the accumulation strategy. The shift to building up bitcoin holdings is driven by growing pressure on profitability, which stems from the reward halving in April and a rising network hashrate, the report said. Hashrate is the total computational power used to mine and process transactions on a proof-of-work blockchain and is a proxy for competition in the industry and mining difficulty."This likely prompted miners to hoard or seek further investments into bitcoin or diversify into AI/HPC businesses," analysts led by Nikolaos Panigirtzoglou wrote, referring to artificial intelligence and...

Societe Generale said it carried out a blockchain-based repurchase agreement with the Banque de France in what it called the first such tokenized transaction with a euro-zone central bank.The lender's digital assets-focused subsidiary, SG-Forge, deposited as collateral some bonds issued in 2020 on the public Ethereum blockchain in exchange for central bank digital currency (CBDC) issued by the Banque de France on its DL3S blockchain, it said in a press release.With the European Union's Markets in Crypto Assets (MiCA) regulatory framework already in place for stablecoin issuers, SG-Forge has maintained a high profile exploring ways to deploy its euro stablecoin, EUR CoinVertible (EURCV). The token was not involved in the repo transaction.The Banque de France, meanwhile, has been energetically testing...

A Polygon DAO community cohort is considering a proposal to use its more than $1 billion of idle stablecoin reserves, currently held on the Polygon PoS Chain bridge to capture yields, per a pre-proposal governance post.“The PoS Bridge currently holds around $1.3B of stablecoins, which makes it one of the largest, but also idle, holders of stablecoins onchain,” the pre-proposal reads. “At the current benchmark lending rate for the 3 major stables this is an opportunity cost of around $70M annually.”“The authors believe that DeFi as a whole has matured whereby assets held in the Polygon PoS bridge can be used productively and securely to incentivize additional activity on Polygon PoS,” it added.DAOs are organizations represented by rules encoded as...