Latest news with #CoinDesk20
Yahoo
2 days ago
- Business
- Yahoo
Bittensor Infrastructure Firm xTAO to Debut on Canada's TSX Venture Exchange
Bittensor-focussed infrastructure firm xTAO made its public debut on Canada's TSX Venture Exchange, after raising $22.8 million from Animoca, DCG and other institutional funds, to scale its validator operations and support the growth of decentralized artificial intelligence (AI). The company will use the funds to expand its validator operations and build real-world products on top of Bittensor's open network. xTAO's listing comes just days after TAO Synergies announced a $10 million purchase of the TAO token, signaling growing institutional interest in decentralized AI infrastructure. While TAO Synergies made its bet as a treasury allocation, xTAO aims to provide the tooling and validation layers that help the network scale. "Our public listing and financing mark important milestones for xTAO, as we execute on our mission of advancing decentralized AI," said Karia Samaroo, founder and CEO of xTAO. "Bittensor is rapidly emerging as the 'Bitcoin of AI,' and xTAO will be well-positioned to capitalize on its growth potential through the operation of our validator and our use of TAO as our treasury reserve asset," Samaroo added. TAO is trading above $440, according to CoinDesk market data, up 5.5% in the last 24 hours. It's outperformed the CoinDesk 20 (CD20), an index of the largest digital assets, which is trading flat. Analysts are optimistic about the AI token asset class as more retail traders look to get exposure to frontier artificial intelligence companies, especially as some of the established players in the space look to restrict investment.
Yahoo
6 days ago
- Business
- Yahoo
Crypto Market Cap Crosses $4T After XRP, ETH Rally
The market cap for all cryptocurrencies surpassed $4 trillion, according to CoinGecko data, as a rally in altcoins like XRP (XRP) and ether (ETH) continues, with traders rotating out of bitcoin (BTC). This uncharted territory for crypto pushed the CoinDesk 20 (CD20), a measure of the performance of the largest digital assets, past 4,000. The index is up 35% in the past month. Crypto's market cap passed $3 trillion for the first time in November 2021, marking the peak of a pandemic-fueled bull market driven by loose monetary policy, surging institutional interest, and speculative mania across NFTs, DeFi, and gaming tokens. However, that moment proved fleeting: markets soon turned as macroeconomic tightening took hold, and high-profile collapses like Terra and FTX sent valuations spiraling, with bitcoin dropping as low as $15,625. It would take three long years and a new political cycle for crypto to reclaim that high-water mark. In November 2024, bitcoin surged 36%, its fourth-strongest monthly performance since October 2021, after Donald Trump's re-election rekindled risk appetite among investors betting on a deregulatory crypto policy pivot in Washington, culminating in the recent passing of the GENIUS Act. With analysts saying that the top for BTC is "nowhere near," crypto may surpass the next trillion-dollar valuation far faster than the last, potentially in a matter of months rather than years, as capital rotates into altcoins and institutional inflows accelerate across spot ETFs and on-chain assets.
Yahoo
15-07-2025
- Business
- Yahoo
PEPE Falls 3% as Heavy Selling Overwhelms Bounce Attempts Despite Whale Accumulation
PEPE shed nearly 3% in the past day as traders dumped tokens in unusually high volumes, underscoring renewed anxiety in the cryptocurrency space and significant profit-taking. PEPE fell 3% with volatility hitting 7.74%, according to CoinDesk Research's technical analysis data model. The token saw peaks of $0.00001268 before tumbling to session lows around $0.00001169 early in the day. While prices briefly bounced, the rebound stalled quickly, leaving PEPE pinned near resistance around $0.00001206. The massive 24-hour trading volume, exceeding 3.47 trillion tokens, points to large liquidations or rapid repositioning by traders. It comes amid a broader market sell-off that has seen the CoinDesk 20 (CD20) index drop by 2.95% in the last day, while the CoinDesk Memecoin Index (CDMEME) receded 3.9%. Yet whale accumulation appears to remain robust. Data from Nansen shows that over the past seven days, PEPE whales on Ethereum added 1.4% to their holdings, which now total 305.26 trillion PEPE, while funds on exchanges dropped by 1.14% to 251.2 trillion. PEPE's performance over the past 24 hours underscored the intensity of the market's bearish tilt. The token dropped 3%, weighed down by relentless selling. Trading remained volatile, with prices swinging across a range of $0.00000980 and posting intraday volatility of nearly 8%. Bulls briefly pushed prices to $0.00001268 at one point, but strong resistance emerged at the $0.00001267 level. From there, sellers steadily took control, driving prices to a session low of $0.00001169. Though PEPE managed a modest rebound, climbing from $0.00001210 to as high as $0.00001217, momentum fizzled quickly. The coin settled near $0.00001206, now acting as a resistance zone, suggesting the market remains in consolidation rather than reversing its slide. Trading volumes soared beyond 3.47 trillion tokens, highlighting the scale of activity as traders reacted to shifting price levels. Until PEPE can hold above key resistance and absorb selling pressure, its trend appears locked in a bearish pattern. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
15-07-2025
- Business
- Yahoo
CoinDesk 20 Performance Update: Bitcoin Cash (BCH) Drops 3.1% as Index Trades Lower
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 3578.43, down 1.3% (-47.45) since 4 p.m. ET on Monday. Two of 20 assets are trading higher. Leaders: SUI (+3.4%) and XLM (+2.2%).Laggards: BCH (-3.1%) and POL (-2.8%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-07-2025
- Business
- Yahoo
Filecoin Plunges 6% as Selling Pressure Increases, Crypto Market Retracts
Filecoin (FIL) crashed 5.6% in the 24-hour trading session from July 14 10:00 UTC to July 15 09:00 UTC, sliding from $2.66 to $2.51, according to CoinDesk Research's technical analysis model. The model shows that the token posted a volatile 7.52% intraday movement. The slump in token of the decentralized storage network came as the wider crypto market also fell, with the broader market gauge, the CoinDesk 20, recently down 3.8%. Filecoin recently announced a partnership with blockchain Avalanche, aimed at optimizing smart contract handling and data storage. In recent trading, FIL was 5.6% lower over 24 hours, trading around $2.51. Technical Analysis: Price tumbled from $2.66 to $2.51, posting 5.6% decline Resistance solidifies at $2.66 level with support forming around $2.50. Heaviest selling pressure hits July 14, 14:00-03:00 UTC window as price cascades from $2.65 to $2.46. Volume patterns show elevated activity during decline phases, particularly July 15, between 02:00-03:00 UTC, with volumes topping 6.3 million. Two-phase movement pattern features initial consolidation followed by upward momentum starting 09:01 UTC. Institutional interest emerges at lower levels with volumes exceeding 71,000 at 09:19 UTC. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
