Category: Breaking

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 3150.49, down 5.3% (-175.81) since 4 pm ET on Monday.
None of the 20 assets are trading higher.Leaders: BTC (-2.5%) and AVAX (-2.7%).Laggards: XLM (-14.6%) and POL (-10.4%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Morocco has drafted regulations for the crypto sector, its central bank’s head said.The country will also continue to explore whether or not central bank digital currencies can contribute to the country’s policy objectives.

Crypto billionaire Justin Sun, who founded the Tron blockchain, has become an adviser to Donald Trump’s crypto project, World Liberty Financial. The Tuesday announcement comes a day after Sun bought $30 million worth of World Liberty’s WLFI tokens. Sales of WLFI had been sluggish before Sun’s purchase.”Justin’s insights and experience will be instrumental as we continue to innovate and grow,” World Liberty said on X.World Liberty seeks to become a player in decentralized finance, or DeFi, the once-bustling lending and borrowing ecosystem.

Pantera Capital Management, which launched its Bitcoin Fund in July 2013, has seen a 1,000-fold increase with returns of over 132,118%. The hedge fund started buying bitcoin back when one token cost $74. Pantera CEO Dan Morehead believes that the cryptocurrency could be worth $740,000 by April 2028.

Bitcoin suffered a steep decline four years ago around Thanksgiving after being turned away at the $20,000 level.The action this year after failing at $100,000 is similar, though less severe so far.Those who bought the dip in 2020 didn’t have to wait long to be rewarded.

The U.S. Treasury Department’s researchers were watching out for crypto risks, but they found digital assets enthusiasts with otherwise low incomes were buying homes in recent years at a high rate.The high-crypto, poor areas have apparently used crypto gains to obtain mortgages and car loans, the Office of Financial Research found, but the delinquency rates on the debt have been low. This cohort of the population is still worth watching for emerging risks if the markets take a turn, the paper noted.

A bitcoin-led crypto market correction continued into its third day as the asset lost a further 3.5% in the past 24 hours.However, bitcoin tends to bounce back when short-term holders sell at a loss. And some say this creates a buying opportunity for traders at current levels.It’s a ride that some expect to be packed with market volatility.

Archax has provided access to Abrdn’s U.S. dollar Liquidity Fund (Lux) in tokenized form on XRPL.Ripple will allocate $5 million into tokens on Abrdn’s Lux fund, part of a larger allocation to real-world assets (RWAs) on the XRPL.XRP price jumped 6%, touching a high of $1.49 in the hours following the release, before paring gains in a market-wide drop.

Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March’s record activity.The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.

Long-term investors have sold almost 550,000 BTC, almost 4% of their holdings.Last week, one-day profit-taking touched a record high in dollar terms, more than $10.5 billion. The percentage drop from long-term holders continues to fall each cycle.