Coindesk

XRP tokens surged more than 5% in the past 24 hours to drive gains among majors in the past 24 hours as a Thanksgiving holiday saw bitcoin (BTC) avoid a feared historical “massacre,” with a slight uptick across the market.BTC rose above $96,000 in the early hours Friday, a steady rise from Thursday’s lows of $93,500. Ether (ETH), Solana’s SOL, and BNB were little changed, Cardano’s ADA moved 3.5%, and dogecoin (DOGE) lost 1.2%.The broad-based CoinDesk 20 (CD20), a liquid fund tracking major tokens, added 1.3%. Algorand’s ALGO and Worldcoin’s WLD jumped as much as 21% to lead gains among midcaps on no immediate catalysts.The crypto market’s moves in Asian hours came as the Japanese yen broke a key level...

In today’s issue, DJ Windle from Windle Wealth looks at the risks advisors face when they can't or won't help clients who want exposure to digital assets.Then, Hong Sun from Core DAO talks about custody and DeFi in Ask an Expert.Thank you to our sponsor of this week's newsletter, L1 Advisors.Happy reading.– Sarah MortonYou’re reading Crypto for Advisors, CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Subscribe here to get it every Thursday.Houston, Advisors Have a ProblemFinancial advisors have largely ignored cryptocurrency for years, dismissing it as a speculative bubble or outright scam. Meanwhile, the financial landscape has shifted dramatically. Major players like BlackRock, Visa, Mastercard, Venmo, and many others are integrating blockchain technology and cryptocurrency into their...

Bitcoin (BTC) has slumped back to $95,000 after coming within a few hundred dollars of passing the symbolic $100,000 price level. But the largest cryptocurrency is only catching its breath before surging to newer heights, according to investment management firm ARK Invest.“We’re more or less anticipating $104,000 to $124,000 price targets by end of year,” David Puell, one of the firm’s research associates, told CoinDesk in an interview. “With the caveat that it's not a recommendation, but so far, price action has kept up to that projection quite nicely.”Puell’s calculus is based on bitcoin’s seasonality — a term referring to the ways the asset has behaved in various stages of previous bull markets — as well as on-chain metrics. In...

Bitcoin's (BTC) pullback from the $100,000 level after continuously hitting fresh new highs is only a temporary setback before eventually shooting past the barrier to even higher prices, crypto analytics firm CryptoQuant said.According to a Wednesday report shared with CoinDesk, multiple blockchain data metrics suggest that the largest crypto has more room to run before topping.CryptoQuant's custom P&L index, which combines several on-chain valuation metrics to signal whether BTC is overvalued or undervalued, shows that the asset is firmly in a bull market but far from the overvalued levels it reached at the previous market peaks in 2021, 2017 and 2013.The firm's Bull-Bear Market Cycle Indicator has only started to heat up after dipping slightly into bear market territory earlier...

Publicly traded bitcoin (BTC) miners are approaching the milestone of an aggregated $40 billion market cap, according to Farside data, doubling in seven months as bitcoin's price rocketed through multiple record highs to approach six figures for the first time. Miners' biggest challenge is revenue. The reward they receive for confirming blocks on the Bitcoin blockchain was cut 50% in April, when their combined market cap was about $20 billion. In this current epoch, only 450 bitcoin are mined a day and fees paid to miners remain at cycle lows, just 10 BTC ($946,000) on Nov. 27 according to Glassnode data.That means they either have to diversify revenue streams or produce bitcoin at a cheaper cost than the spot price, currently...