Coindesk

While bitcoin (BTC) slid only modestly, other major cryptocurrencies tumbled over the past few days, sparking doubt of the durability of the so-called altcoin season.XRP (XRP), dogecoin (DOGE) and Solana's SOL (SOL) declined the most among the top 10 cryptos on Friday, slipping around 5% each over the past 24 hours, CoinDesk data shows. From the Wednesday highs, XRP and DOGE plunged around 18%, while SOL was down 12% over the same stretch. The CoinDesk 80 Index, consisting of mid-cap tokens outside of the CoinDesk 20, lost 10% from the weekly peak.Meanwhile, BTC was changing hands around $116,000, a bit more than 3% lower from its mid-week peak of $120,000. Ethereum's ether (ETH) was 4% below its weekly high, supported...

Digital bank Revolut's crypto staking services are once again available for its customers in Hungary after pausing for a couple of weeks, a spokesperson from the company told CoinDesk on Friday.The company had paused the majority of its crypto services for customers in Hungary on July 7 due to a new law that criminalized trading on unlicensed crypto platforms, but a spokesperson told CoinDesk on Friday that Revolut was comfortable bringing staking back. It had previously resumed withdrawals, the spokesperson added.After conducting further analysis in connection with its legal position, Revolut is able to resume these services as only crypto-asset exchanges are captured by the revised legislation," a company spokesperson said in response to an emailed request for comment.Revolut's...

Polkadot's DOT encountered ongoing bearish momentum despite several recovery attempts, fluctuating between $3.87-$4.11 throughout the 24-hour timeframe, according to CoinDesk Research's technical analysis model.The model showed that substantial institutional purchasing activity developed at critical support zones around $3.87-$3.93, notably during elevated volume sessions at 03:00 and 14:00 hours.Significant support has developed in the $3.87-$3.93 range with resistance at the $4.11 level, according to the model.The drop in Polkadot came as the wider crypto market also fell, with the broader market gauge, the Coindesk 20, recently down 3%.In recent trading, DOT was 1.9% lower over 24 hours, trading around $3.94.Technical Analysis:Trading range of $0.24 constituting 6% differential between peak of $4.11 and trough of $3.87.Volume surpassed 24-hour average of 2.87 million...

BONK experienced aggressive volatility over a 24-hour period to end the week, swinging 15% between $0.00003185 and $0.00003763. The Solana-based memecoin initially surged on the heels of a 500 billion token burn announcement before a Galaxy Digital-linked wallet moved $18.75 million worth of BONK to major crypto exchanges, triggering a 9% pullback in under an hour.Despite the reversal, BONK stabilized above the $0.00003400 level with support in the $0.00003185-$0.00003230 zone, according to CoinDesk Research's technical analysis data model. Trading activity surged as speculative flows responded to conflicting signals: bullish supply reduction versus the bearish pressure of potential sell-side liquidity injections.The broader crypto market's shift toward altcoins continued to boost meme token trading volumes as with bitcoin's market dominance weakening. BONK...

SharpLink Gaming (SBET), the Nasdaq-listed crypto treasury firm that has recently emerged as one of the largest corporate holders of ether (ETH), said on Friday it has appointed former BlackRock executive Joseph Chalom as co-CEO of the firm.Chalom, who spent two decades at BlackRock in different roles, spearheaded the asset management giant's foray into digital assets and blockchain initiatives including launching the a spot ETH ETF, the press release said. He also was a board member at tokenization firm Securitize, which issues the largest tokenized U.S. Treasury fund with BlackRock."Few executives in the world have had the kind of impact Joseph has had in unlocking institutional adoption of digital assets, having pioneered BlackRock’s strategic entry into the space," Joseph Lubin,...