The supply deluge was quickly reversed with burn mechanism. What to know: On Wednesday, stablecoin issuer Paxos accidentally minted $300 trillion worth of PayPal Holdings Inc.’s PYUSD stablecoin on Ethereum – a “fat finger” error on the blockchain that far exceeded the total U.S. dollar circulating supply of $2.4 trillion. […]
The multi-step bottoming process could be slow due to several reasons, including liquidity constraints over the weekend and slow absorption of supply. What to know: The crypto market experienced its largest liquidation event ever on Friday night U.S. time, forcing out leveraged bullish bets worth $16 billion across bitcoin, ether, XRP, […]
Monero has released the ‘Fluorine Fermi’ update to enhance user privacy against spy nodes. What to know: Leading privacy blockchain Monero has released an important upgrade that significantly strengthens user protection against spy nodes. The blockchain announced CLI v0.18.4.3 ‘Fluorine Fermi’ on X, calling it a highly recommended release that enhances […]
Kato’s remarks come amid concerns over Japan’s high debt-to-GDP ratio and the potential for financial repression and yen depreciation. What to know: Japan’s Finance Minister Katsunobu Kato said on Monday that cryptocurrencies can be part of a diversified portfolio. “Crypto assets have risks surrounding high volatility, but through building an […]
Almost all of Bitcoin’s actual users have gone away, one observer said, warning of a major crisis. What to know: The Bitcoin blockchain lacks meaningful on-chain activity, even as its native token, bitcoin trades near a record per-unit price. That’s according to mempool – a holding area for unconfirmed blockchain […]
BTC nears golden cross, as Moody’s downgrade validates bond markets’ concerns about the sustainability of the U.S. fiscal debt. What to know: Bitcoin’s BTC$105,295.70 price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt. […]
Elevated Treasury yields are driven by factors that are bullish for bitcoin. What to know: Hardening government bond yields, especially on U.S. treasury notes, have traditionally been viewed as a headwind for bitcoin (BTC) and other risk assets. However, recent persistent resilience in treasury yields suggests a different story — […]
Turkey’s President Erdogan’s experience with central bank interference serves as a warning, as it led to a currency collapse and increased investment in bitcoin and stablecoins. What to know: The week has begun on an interesting note, with the U.S. dollar crashing to three-year lows alongside losses on Wall Street, […]
The record bullish skew in options on the company seen as a leveraged play on bitcoin has vanished as the BTC tailwind driven by the Treasury asset narrative loses momentum. By Omkar Godbole CoinDesk What to know: Traders are no longer chasing upside in Nasdaq-listed MicroStrategy (MSTR), a leveraged play on […]
CoinDesk by Omkar Godbole Just when you thought the year-end couldn’t get any more intriguing, a significant options expiry is set to shake things up in this highly levered-up market. Options are derivative contracts that give the purchaser the right to buy or sell the underlying asset at a preset price […]