Coindesk

Ether (ETH) is holding steady above $3,800, according to CoinDesk Data, as the battle for dominance among corporate ETH treasuries intensifies. On Tuesday, SharpLink Gaming (SBET) announced it had purchased an additional 77,210 ETH last week, worth nearly $290 million at an average price of $3,756. The move raises SharpLink’s total ether holdings to 438,190 ETH, valued at roughly $1.69 billion.The Minneapolis-based firm has now raised over $279 million in net proceeds during the week of July 21 through its at-the-market (ATM) equity facility. Since launching its ETH treasury strategy on June 2, SharpLink has aggressively ramped up purchases while generating a total of 722 ETH in staking rewards. The company also said its ETH concentration ratio — measuring total...

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 4023.35, up 0.5% (+19.79) since 4 p.m. ET on Monday.Eleven of 20 assets are trading higher.Leaders: XLM (+2.1%) and HBAR (+1.8%).Laggards: AVAX (-3.1%) and SUI (-2.8%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Coinbase’s (COIN) partnership with Circle (CRCL) and exposure to Circle's USDC stablecoin is generating significant financial upside, both through equity appreciation and high-margin revenue streams, according to a new report from Wall Street bank JPMorgan.The total value of Circle-related economics to Coinbase shareholders is estimated at $55 to $60 billion, the bank said, suggesting the market may be underestimating the strategic importance of the USDC ecosystem.The crypto exchange holds 8.5 million shares in Circle, valued at $1.6 billion as of July 25. The larger story, however, lies in USDC-related income, according to the report.In the first quarter of this year alone, Coinbase earned roughly $300 million in distribution payments from Circle, more than Circle’s total net revenue of $230 million.The...

ARK Invest bought $18.6 million worth of shares in ether treasury firm BitMine Immersion Technologies (BMNR).Cathie Wood's investment firm added a total of 529,366 BMNR shares to its Innovation (ARKK) and Next Generations Internet (ARKW) exchange-traded funds (ETFs) on Monday, according to an email notification.BMNR fell more than 11.8% to $35.11 and is now down some 74% since spiking to $135 early this month.BitMine has positioned itself as one of the largest corporate accumulators of ether in recent months, amassing more than 300,000 ETH worth over $1 billion.Numerous companies have adopted a strategy of building an Ethereum treasury, copying the playbook of Michael Saylor's Strategy (MSTR) with bitcoin.Among other factors, this has helped ignite a breakout in ETH's price, which...

CoinDCX, India's largest crypto exchange, dismissed a local media report that U.S. rival Coinbase (COIN) was looking to acquire it."Ignore the rumours," CEO Sumit Gupta said Tuesday in a post on X.Earlier in the day Mint reported that Coinbase was in advanced talks to acquire the Mumbai-based company, citing two people with knowledge of the matter. The potential acquisition could value CoinDCX at less than $1 billion, a steep drop from its $2.2 billion valuation in 2021, it said.Mint's sources added that Coinbase already has equity in both CoinDCX and rival CoinSwitch.In his post, Gupta emphasized the exchange's India-focused strategy."CoinDCX is 'super focused' on building for India’s crypto story and not up for sale! Will share more later, but just...