Coindesk

Bitcoin's (BTC) price plunged below $94,000 late Thursday in rapid retreat from its newfound all-time high around $100,000.There was no immediately obvious reason for the drop.CoinDesk Indices data, which incorporates prices from several sources, shows bitcoin dropped as low as $93,468.34. Meanwhile, it got to about $90,500 on Binance and $92,000 on Coinbase.The selling did not spread across the rest of crypto — which is unusual. While bitcoin went into freefall, other tokens didn't really budge.Bitcoin then rebounded back above $96,000.Source link

Memecoins undoubtedly capture a big slice of crypto observers' attention — even if not everyone is a fan. But data shows they're gobbling up a growing amount of the crypto economy too.The sector — powered by the likes of dogecoin (DOGE) and Shiba Inu (SHIB) — made up 3.16% of the combined market capitalization of all cryptocurrencies on Dec. 1, up from 1.3% at the beginning of the year, according to a new report from crypto exchange CEX.IO. If you exclude crypto titans bitcoin (BTC) and ether (ETH), memecoin market share jumps to 11.21% from 4.2%.That equates to big dollars: more than $140 billion of market value, per CoinGecko data, stashed in cryptocurrencies that don't pretend to have any utility....

The Sui blockchain hasn't yet catapulted into the bull-run conversation. But its DeFi ecosystem is trending up and to the right, creating an opening for one of its biggest protocols to capitalize.Suilend, which facilitates crypto borrowing and lending on Sui, raised $2 million in February and just closed on an additional $4 million, its pseudonymous founder Rooter told CoinDesk. The funding trove will allow Suilend to weather potential market shifts, he said."It's the time to do it and make sure that we have capital to last for the next four years, if there's a long bear market," Rooter said.The latest round was led by Tarun Chitra's Robot Ventures with participation from a bevy of venture firms and angel investors. It...

Stablecoin issuer Circle said on Wednesday it has committed to meet tighter regulations in Canada that allows its $40 billion USDC stablecoin to continue to be listed on exchanges."USDC is the first stablecoin to achieve this milestone," the company said in a press statement. "Circle continues to engage with Canadian authorities in their development of a regulated market for global stablecoins, which has the potential to bring significant efficiency gains to Canadian cross-border, retail, and institutional settlement systems."Circle's announcement happened as pressure mounts on crypto companies operating in the country to comply with stricter rules by the end of this year.The Canadian Securities Administrators (CSA) started to roll out tighter regulations to govern digital assets last year, including guidelines for...

Bitcoin at $100K - Industry ReactionSource link