Welcome to the institutional newsletter, Crypto Long & Short. This week: CoinDesk Indices’ Andy Baehr provides a “Vibe Check” that tells the story of two markets – the fast money and the slow money. CoinDesk’s Sam Ewen says it’s no surprise that internet-native communities want internet-native currencies, and why stablecoins are the logical bridge. . […]
Crypto long and short: fast money, slow money Read More »
Japanese investment bank Mizuho called Visa ( V ) the “stablecoin of stablecoins,” arguing that the payments giant has become a core part of the global stablecoin infrastructure. Visa’s expanding network of stablecoin-linked card programs, now over 130 in more than 40 countries, with spend up to four times year-over-year, gives it a central role
Investment Bank Says Visa (V) Is Becoming ‘Stablecoins’ Read More »
Coinbase ( COIN ) is set to report third-quarter earnings Thursday after the market close, and Wall Street is largely expecting a hit to revenue. According to FactSet, analysts estimate the crypto exchange will deliver earnings per share (EPS) of $1.14 — a quadrupling of $0.28 from Q3 last year — and revenue of $1.8
Consensys, the blockchain software company behind the MetaMask wallet, plans to go public and has tapped JPMorgan Chase and Goldman Sachs as lead underwriters for its initial public offering, Axios reported Wednesday. The listing will mark one of the most significant public debuts yet by a company building Ethereum’s infrastructure ETH$3,944.91the world’s second largest blockchain.
Consensys plans public debut, enlists JPMorgan and Goldman Sachs to lead IPO: Axios Read More »
Chainlink’s native token LINK CONNECTION$18.50 turned to $18.40 during the Wednesday session, reversing losses from a sharp intraday sell-off that saw the price fall below the key $18 support level. A sudden spike in volume of 4.59 million tokens – 178% above the 24-hour average – confirmed the breakdown as sellers overwhelmed short-term support levels.
Bounces 4% as FOMC Volatility Drives Crypto Market Read More »
Mastercard ( MA ) is reportedly looking to acquire blockchain infrastructure startup Zero Hash as competition for stablecoin payments heats up. The global payment and card provider is in late-stage negotiations and may pay $1.5-2 billion for the crypto firm, Fortune reported Wednesday, citing sources familiar with the matter. It comes as Mastercard may lose
Mastercard (M) in Talks to Acquire Crypto Startup Zero Hash: Report Read More »
Stellar Lumens (XLM) gained 1.53% over the past 24 hours, rising from $0.3168 to $0.3177 as trading volume jumped 134% above its 30-day moving average. The controlled price action amid high volume points to institutional accumulation rather than retail-driven momentum. XLM slightly outperformed the broader crypto market by 1.23%, consolidating between $0.315 and $0.325 after
Stellar Edges 1.5% Higher Breaking $0.32 Amid Institutional Accumulation Read More »
This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin BTC$113,421.04 is down but not out after Federal Reserve Chairman Jerome Powell’s latest hawkish remarks, which challenged expectations of a December interest rate cut. That’s the message from the price chart, which shows that while BTC faces selling pressure,
The 200-day average is holding, but for how long? Read More »
A solid down day in crypto is about to take a dive after the Federal Reserve chairman’s unexpected hawkish remarks at his post-policy meeting press conference. “A rate cut in December is far from a foregone conclusion,” Powell said in his opening remarks. It was a shock to markets, which had priced in a 90%
Losses widen as Powell pours cold water on December rate cut Read More »
As widely expected, the US Federal Reserve cut its benchmark interest rate range by 25 basis points to 3.75% to 4.0%. As it was generally expected, the Fed also went to finish the reduction of the securities on the balance sheet on December 1, i.e. the so-called “quantitative tightening” process. “Job growth has slowed this
Holding down after Fed rate cut Read More »
