Coindesk

Bitcoin's (BTC) market cap is consistently in excess of 50% of the size of the total crypto industry, meaning more funds are held in BTC than every other digital asset combined. With bitcoin dominance reaching multiyear highs of over 60% during the current bull market, projects built on other networks have been looking for ways to get a slice of the pie. Now the AI bots are giving it a go.Artificial intelligence-focused Ethereum layer-2 blockchain Mode is the latest to bridge to Bitcoin in an attempt to access the deep wells of liquidity held in BTC.Mode has teamed up with rollup protocol BitcoinOS (BOS) to give AI agents on its network permissionless access to Bitcoin, according to an emailed announcement...

The increased size of leveraged MicroStrategy (MSTR) exchange-traded funds (ETFs) and the flows they attract are having a more pronounced effect on the company's stock and crypto markets than before, JPMorgan (JPM) said in a research report on Wednesday.These ETFs played a significant role in amplifying the stock's near-60% rise in November, the bank said.November saw a record of almost $11 billion flow into U.S. spot bitcoin (BTC), spot ether (ETH) and leveraged MicroStrategy ETFs combined, the report said, with the leveraged MSTR ETFs accounting for $3.4 billion, or almost a third, of the total."This highlights the rising impact of MicroStrategy's leveraged ETFs in crypto markets via facilitating MicroStrategy's bitcoin purchase program," analysts led by Nikolaos Panigirtzoglou wrote.The company founded...

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 3974.18, up 1.8% (+70.68) since yesterday's close.Ten of 20 assets are trading higher.Leaders: RENDER (+14.7%) and LTC (+9.7%).Laggards: ETC (-5.7%) and ICP (-3.1%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Worksport (WKSP), a tiny Nasdaq-listed maker of covers for pickup truck beds, has added its own twist to the newly popular corporate strategy of buying bitcoin that was introduced and made famous by Michael Saylor's MicroStrategy (MSTR).The New York-based company, which has a $20 million market capitalization, is investing up to 10% of its cash reserves into bitcoin (BTC) and also Ripple’s native cryptocurrency, XRP (XRP). At present, that equates to up to $5 million.This shift is intended to protect the company’s assets against inflation and to enhance transaction efficiency, the company said.Since Donald Trump's election a month ago, at least a dozen other companies have announced they plan to stash extra cash in bitcoin. But Worksport's embrace of XRP,...

Jonathan Levin has taken over the top job at crypto analytics company Chainalysis two months after co-founder and longtime CEO Michael Gronager went on leave.Chainalysis is a major provider of crypto compliance software to governments and corporations that want to know where their digital money is flowing. Its various tools peel back the perceived anonymity of cryptocurrencies.Demand for such services is only likely to grow if the incoming U.S. administration's pro-crypto talk sparks a wider adoption boom, said Levin, the company's former chief strategy officer."What the company needs right now, given all of the excitement in the market and the strong financial position of Chainalysis, is to be a market leader for our customers and to take bets on broadening...