Tech investors love to pay for potential. GameFi tokens, with sky-high valuations divorced from current user numbers or revenues, embody this optimism perfectly — as CoinDesk investigated in 2022, Decentraland’s then billion-dollar market cap didn’t quite match the number of active players on the platform. But, surprisingly, distributed compute tokens don’t seem to enjoy the…
On-chain data shows Dogecoin is the only cryptocurrency among the top 10 where investors are currently realizing more losses than profits. Dogecoin Investors Realized $124 Million In Loss Over The Last 24 Hours In a new post on X, the on-chain analytics firm Glassnode has shared how the major cryptocurrencies compare against each other in…
Ether (ETH) 3.5% in the past 24 hours to $2,519 as of 18:59 UTC on June 30, according to CoinDesk Research’s technical analysis model, supported by continued institutional demand, network upgrades, and major retail platform integrations. Institutional interest remains robust, with CoinShares reporting $429 million in net inflows into ether investment products over the past…
A seasoned crypto analyst has warned that the recent Bitcoin (BTC) price action may be setting the stage for major liquidity traps, echoing patterns seen in past cycles. As the leading cryptocurrency aims for new all-time highs, the pundit suggests that market makers could be deliberately engineering conditions for bear traps before triggering a powerful…
Filecoin (FIL) experienced a dramatic 6.1% surge on June 29, jumping from $2.31 to $2.41 with exceptionally high trading volume, before encountering resistance and reverting lower, according to CoinDesk Research’s technical analysis model. The model showed that high-volume resistance has been established at the $2.41 leveI. Horizontal support zone has formed around $2.27-$2.28 where buyers…
Katana mainnet launch is around the corner after over $200 million in productive DeFi deposits. Katana’s VaultBridge and CoL mechanisms will power yield and liquidity efficiency. Katana supports cross-chain assets like SOL, XRP, and SUI on-chain. Katana, a new DeFi-centric layer-2 blockchain built on Ethereum, has people on tentacles amid its highly anticipated mainnet launch…
Bitcoin briefly pushed into the $108,800 level a few hours ago but was once again unable to reclaim higher prices, reinforcing the key resistance just below its all-time high. This rejection has left the market in a state of caution, with investors expecting increased volatility in the coming sessions. As BTC continues to hover below…
Self described ‘DeFi-first’ layer-2 blockchain Katana has launched its mainnet after receiving $180 million in pre-deposits. Deposits flooded in after Katana was revealed to the public less than a month ago. DefiLlama data shows that deposited jumped from $75M to $180M between June 1 Depositors will receive randomized reward NFTs called Krates, as well as…
The price of Solana (SOL) has formed a bullish flag, eyeing a breakout above key resistance. Solana ETF filing and 1inch integration have boosted Solana’s fundamentals. Short squeeze and volume surge signal strong market momentum. After weeks of steady movement, Solana (SOL) is flashing signals that suggest a powerful breakout could be on the horizon….
XRP showed a powerful technical reaction after dipping precisely to the $2.07 Fib confluence zone, where multiple key levels aligned — including the golden .618 Fib retracement and wave-based extensions. The sharp bounce from this area signals a potential end to the recent correction and opens the door for further upside. The Perfect Bounce: XRP…
