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Crypto & Web3CoinDesk ·

Bitcoin holds above $64,000 amid $101B SpaceX stock unlock and AI market jitters

Bitcoin has stabilized above the $64,000 mark as traders keep a close eye on market developments. A significant $101 billion worth of SpaceX stock is set to become tradable on Thursday, drawing investor attention. Meanwhile, sentiment in global markets was rattled as the AI trade showed signs of weakness. South Korea's Kospi index reflected this turbulence, dropping 4.4% amid the broader market uncertainty. These converging factors are shaping cautious trader behavior across both crypto and traditional markets.

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Crypto & Web3CoinDesk ·

XRP Whales Accumulate Quietly While Ether Trades Below Realized Value

Blockchain analytics firm CryptoQuant has identified large XRP spot buying orders that suggest major holders are quietly accumulating the token rather than driving a price breakout. Meanwhile, Ether is trading below its realized value, meaning the average holder is currently at a loss on their investment. This deeper level of capitulation in Ether gives it the strongest valuation case among the three major cryptocurrencies — Bitcoin, Ether, and XRP. CryptoQuant's analysis positions ETH as potentially undervalued relative to its historical cost basis compared to its peers.

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Crypto & Web3CoinDesk ·

CASHCAT memecoin surges 120% as Robinhood Chain TVL reaches $774 million

CASHCAT, the memecoin associated with the launch of Robinhood Chain, has surged 120% over the past week. The token's market capitalization has recovered to approximately $86 million. Meanwhile, Robinhood Chain has accumulated a total value locked of $774 million across its ecosystem. Tokenized assets, which represent the blockchain's core stated purpose, account for a comparatively modest $27.6 million of that total.

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Crypto & Web3CoinDesk ·

Senate Yet to Signal Next Steps on Digital Asset Market Clarity Act

The U.S. Senate has not yet indicated whether it will move forward with the Digital Asset Market Clarity Act. The legislation, which aims to regulate digital asset markets, faces an uncertain timeline on Capitol Hill. With the Senate's summer recess approaching, the window for near-term action is narrowing. Several possible outcomes remain on the table depending on whether lawmakers prioritize the bill before the break.