Crypto infrastructure startup Cycles has raised $6.4 million in seed funding to build a private clearing network aimed at reducing liquidity usage and counterparty risk across digital asset markets. Cycles, a crypto financial infrastructure company focused on private market clearing, has completed a $6.4 million seed round led by Blockchange Ventures, with participation from Coinbase
Bitcoin ($BTC) extends its recovery, trading above $77,500 on Thursday amid optimism over a potential US-Iran peace deal that is supporting the market’s risk-on sentiment. Despite this rebound, spot Exchange Traded Funds (ETFs) continue to record steady outflows, and on-chain data highlights cautious signs, with net demand for the Crypto King contracting. US-Iran peace hopes
The leading cryptocurrency, Bitcoin ($BTC), has entered a downward trend again after reaching a local multi-month high of over $82,000 last week. Market analysts say Bitcoin has lost momentum after being rejected from $82,000 and experiencing an 8% drop, and that bulls need to defend critical support levels for an uptrend to occur. At this
Variational, a peer-to-peer onchain derivatives trading protocol, said it raised $50 million in a round led by global investment fund Dragonfy with participation from companies including Bain Capital Crypto and Coinbase Ventures. The money will be used to expand the Cayman Islands-based company’s derivatives trading services, it said in a statement released Thursday. The raise
Blockchain.com said it confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO). The number of shares to be offered and the proposed price range have not yet been determined, according to an announcement on Thursday. A confidential filing allows companies to begin the SEC review process
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 2062.9, down 0.5% (-9.64) since 4 p.m. ET on Wednesday. Five of the 20 assets are trading higher. Leaders: NEAR (+4.1%) and TAO (+1.6%). Laggards: ICP (-1.6%) and HBAR
Bitcoin’s long-term holder (LTH) supply is approaching all-time highs. Currently, 16.3 million $BTC is held by this cohort, defined as investors who have held bitcoin for at least 155 days. LTH supply has increased from 14.12 million $BTC around the time of bitcoin’s record high above $126,000 in October, to the current 16.3 million $BTC.
Tokenized money market funds still make up only around 5% of the stablecoin universe despite their ability to generate yield, Wall Street bank JPMorgan said in a Wednesday report. The bank said crypto market participants continue to favor stablecoins because they have become the ecosystem’s default cash instrument for trading, collateral management, settlement, cross-border payments
After dropping to a low of $76k, Bitcoin rebounded to $78,180 before slightly retracing. At press time, $BTC traded at $77,886, up 0.96% daily. With $BTC attempting recovery, major traders appeared to increase their long exposure. Why are whales turning bullish again? Lookonchain reported that whale Garrett Jin returned to the market and opened a
A significant shift in the shareholder composition of Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit, is being interpreted as a positive signal for a potential merger with Naver Financial. According to a report from ZDNet Korea, the departure of a key investor has removed a major obstacle to the deal. New Investors