This can be a technical evaluation submit by CoinDesk analyst and Chartered Market Technician Omkar Godbole. XRP: Not out of the woods but XRP (XRP), the payments-focused cryptocurrency, surged 11% on Thursday, reportedly breaking out of a bull flag sample to counsel renewed upward momentum. Nonetheless, it is not but clear, as costs stay effectively under the essential $3.65 stage, the place a bearish “tweezer high” candlestick sample occurred final month. The tweezer high is a bearish reversal sample, comprising two candles with an identical highs that signify a transparent rejection level, on this case $3.65. It is as if the market tried to climb to a brand new stage twice and was met with a brick wall of promoting stress on the similar spot, an indication that the upward momentum has utterly stalled. The bulls, subsequently, want to beat the numerous provide level at $3.65, a transfer that may invalidate the bearish reversal sample. Nonetheless, this can be simpler mentioned than executed, as on-chain information means that holders are sitting on substantial income and have a robust incentive to promote at present valuations. “The [XRP] Web Unrealized Revenue/Loss (NUPL) stays at elevated ranges not seen for the reason that 2021 peak, reaching comparable ranges to these noticed in 2018. These excessive values point out that the market nonetheless carries vital unrealized income, which traditionally represents zones of potential distribution and worth correction,” analysis agency Alphractal mentioned on x. Resistance: $3.38, $3.65, $4.00. Assist: $2.99, $2.72, $2.65. Bitcoin: BTC awaits breakout Bitcoin’s (BTC) current pullback is at the moment taking the form of a descending channel (white traces) inside its main uptrend (yellow traces). This sample is a traditional “bull breather” that means the market is consolidating its current features. The value’s current bounce from the 50-day Easy Transferring Common (SMA) additional reinforces the energy of this consolidation. For merchants, because of this whereas the short-term development remains to be corrective, the trail of least resistance stays to the upside. A decisive breakout from the descending channel would verify a continuation of the broader uptrend, probably yielding a transfer to report highs above $123,000. Conversely, a transfer under the Could excessive of $111,965 would improve the chance of a deeper sell-off to $100,000. Resistance: $120,000, $122,056, $123,181. Assist: $111,965, $104,562, $100,000. Ether: Main breakout Ether has rallied to over $4,200, reaching ranges final seen 4 years in the past. The cryptocurrency has damaged out of a chronic symmetrical triangle that contained its worth for the reason that all-time excessive in late 2021, which is a significant bullish sign. The decisive breakout, significantly on a chart with this lengthy a time horizon, signifies that the market has formally entered a brand new, highly effective uptrend, opening the door for a retest of report highs above $4,800. Resistance: $4,400, $4,875, $5,000. Assist: $4,000, $3,941, $3,737. Powered by WPeMatico

Pendle’s complete worth locked (TVL) has surged to a record $8.27 billion, whereas its native token PENDLE climbed 45% over the previous week to $5.6 on the again of the protocol’s new yield-trading platform. With bitcoin funding charges averaging about 10% annualized this week and roughly $80 billion in open curiosity, in response to Dune knowledge, greater than $8 billion modifications arms yearly between longs and shorts. Boros packages these yields into tradable on-chain belongings known as Yield Models (YUs), letting merchants go lengthy or brief on the charges themselves. Boros can be utilized for quite a few advance methods, together with hedge floating funding funds into mounted charges, or lock in excessive yields throughout unstable durations. In its first two days, Boros attracted deposits of over 283 WETH (round $1.1 million) and 6.4 WBTC (about $750,000) into its vaults, data reveals. Exercise on Pendle’s Arbitrum deployment has spiked alongside the launch, with lively addresses reaching 1,428, nicely above the month-to-month common, and each patrons and sellers multiplying on decentralized exchanges in response to knowledge from TheTie. Whereas Boros at the moment helps BTC and ETH funding charges, plans are to broaden to different floating yields corresponding to staking rewards and tokenized Treasury payments. Pendle’s efficiency and complete worth locked additionally got here on the again of the Hyperliquid ecosystem. The agency built-in with Hyperliquid late final month. Since then, Kinetiq’s kHYPE, the biggest liquid staking token on Hyperliquid’s HyperEVM, has attracted $221 million in complete worth locked. PENDLE token, over the previous week, has considerably outperformed the broader cryptocurrency market, as measured by the CoinDesk 20 (CD20) index, which rose 13.15% over the interval. Powered by WPeMatico

Arthur Hayes, co-founder of crypto change BitMEX, seems to have reversed course on a significant ether (ETH) commerce simply days after warning of a market downturn. Final week, knowledge from Arkham Intelligence confirmed that Hayes offered 2,373 ETH price round $8.32 million, when the second-largest cryptocurrency was buying and selling close to $3,500 and moved into stablecoins. This weekend, nonetheless, he appears to have a change of coronary heart. Hours in the past, knowledge first noticed by Lookonchain confirmed an deal with linked to Hayes moved out of $10.5 million in USDC to purchase again ether, with the worth of the cryptocurrency now hovering around $4,200. The transfer comes after Hayes liquidated over $13 million in crypto holdings final week, together with ethena (ENA) and meme token pepe (PEPE). On the time, he cited U.S. tariffs and weaker-than-expected jobs knowledge as headwinds for crypto, predicting bitcoin may check $100,000 and ether may revisit $3,000. But Hayes’ fast buyback suggests he might even see renewed upside in ether. Hayes seemingly confirmed the acquisition of ETH in a publish on X, saying he “had to purchase all of it again” whereas sharing an ether value chart. Powered by WPeMatico

Commodity-backed cryptocurrencies, that are dominated by gold-backed tokens, have seen a historic surge in issuance this week, with minting volumes hitting their highest level in a minimum of 5 years. The leap comes after gold futures traded above a $3,500 all-time excessive this week, after the Swiss Treasured Metals Affiliation warned that the U.S.’s 39% tariffs on Switzerland may have “unfavourable affect” on the worldwide move of bodily gold. Each gold spot and futures fell after the preliminary surge, when a White Home official instructed Bloomberg that the President would introduce a coverage clarifying that imports of gold bars shouldn’t be topic to tariffs. That did not cease gold-backed tokens from being minted, nevertheless. The warning additionally noticed gold-based cryptocurrencies, together with Tether Gold (XAUT) and Paxos Gold (PAXG), briefly prime $3,390 earlier than receding. Minting volumes, per RWA.xyz information, reached $439 million over the week, greater than doubling the earlier $195 million report seen in 2021. These tokens, that are backed by bodily reserves held in vaults, permit traders to achieve publicity to the valuable metallic and may be transferred immediately on-chain with out crossing borders. Switzerland, which refines a big share of the world’s gold regardless of having no mines of its personal, exported more than $61 billion value of the metallic to the U.S. over the previous yr. The transfer has triggered a political backlash in Switzerland, with some lawmakers calling for the gold sector to shoulder a part of the financial fallout. The dear metallic makes up over 1 / 4 of Switzerland’s exports, per Swiss National Bank data. Powered by WPeMatico

World Liberty Monetary, the decentralized finance platform with ties to the Trump household, is claimed to be in talks with giant buyers to boost about $1.5 billion for a public firm that may maintain its WLFI tokens. The deal’s construction, Bloomberg reports, remains to be below dialogue. The corporate approached deep-pocketed buyers in expertise and crypto, the report stated, citing folks acquainted with the matter. Final 12 months, the agency outlined plans for a crypto-lending app and presently points USD1, a dollar-backed stablecoin that was used to facilitate MGX’s $2 billion investment in Binance. WLFI tokens, initially launched as non-transferable governance belongings, are expected to become tradable The transfer would see World Liberty Monetary be a part of a rising variety of cryptocurrency treasury corporations, which have been issuing debt and fairness to build up thousands and thousands value of assorted tokens. WLFI itself already has a diversified token portfolio. Trump has adopted quite a few pro-crypto insurance policies, having simply this week signed an govt order letting 401(k) retirement plans invest in various belongings, together with non-public fairness and cryptocurrency. Powered by WPeMatico

Ether (ETH) jumped to $4,200 on Binance early Saturday, its highest since December 2021, after a two-day rally fueled by heavy buying and selling and $207 million in brief liquidations. The transfer adopted Friday’s breakout above $4,000 for the primary time since December 2024, a technical milestone that drew in recent shopping for and set the stage for Saturday’s push larger. Analyst Miles Deutscher said these compelled buybacks helped speed up the rally. In an earlier publish, he described an “on-chain wealth impact”: as ETH’s worth rises, each giant holders and retail traders see their positions flip worthwhile, prompting them to reallocate capital into smaller, higher-risk tokens in pursuit of larger good points. This dynamic, he mentioned, can amplify rallies past ETH itself. Deutscher additionally mapped out a three-stage market rotation he expects may take months to unfold: an ETH-led mini altcoin season, a rotation into bitcoin that might carry BTC towards $120,000–$140,000 whereas altcoins lag, and eventually a shift again into ETH and smaller tokens for a possible “blowoff” rally marking the cycle’s peak. ‘Wild transfer’ Crypto analyst Michaël van de Poppe called Saturday’s push to $4,200 a “wild transfer” and warned that purchasing at such elevated ranges carried larger danger. Whereas he sees ETH organising for a breakout towards all-time highs, he argued that allocating capital to tasks inside the ETH ecosystem would possibly ship higher share returns if momentum continues. He additionally said earlier that continued ETH energy may set the stage for substantial good points in altcoins, probably rewarding portfolios positioned for a broader market rotation. Market intelligence platform Santiment noted that ETH’s climb above $4,000 on Aug. 8 was the primary since Dec. 16, 2024, and got here with a pointy enhance in bullish language from retail merchants. Mentions of phrases like “shopping for” and “bullish” roughly doubled in contrast with “promoting” and “bearish.” The agency cautioned that overconfidence can generally result in short-lived pauses even throughout robust uptrends. Technical Evaluation Highlights In accordance with CoinDesk Analysis’s technical evaluation mannequin, between Aug. 8 at 07:00 UTC and Aug. 9 at 06:00 UTC, ETH rose from $3,914.59 to $4,160.29, a 6% acquire, buying and selling between $3,885.03 and $4,194.53. The primary breakout occurred at 13:00 UTC on Aug. 8, pushing costs above $4,000 on 646,459 ETH in quantity, almost triple the 24-hour common of 218,847 ETH. A second surge at 05:00 UTC on Aug. 9 lifted costs to the session peak of $4,194.53 on 714,461 ETH in quantity, once more greater than triple the every day common. Within the last hour (Aug. 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 earlier than retreating to $4,158.50, with $42.52 in intraday swings. Shopping for briefly pushed costs above $4,190 earlier than profit-taking set in, establishing assist between $4,155 and $4,160, suggesting consolidation as bigger gamers locked in good points close to the psychological $4,200 degree. Disclaimer: Elements of this text have been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our standards. For extra info, see CoinDesk’s full AI Policy. Powered by WPeMatico

Whale-led accumulation dominated early and mid-session flows, with over $200 million in DOGE bought over 24 hours. The $0.22 degree held firmly on a number of retests, drawing in leveraged lengthy positioning. Nevertheless, the $0.23 resistance zone triggered profit-taking from short-term merchants and potential distribution from massive holders. Technical Evaluation Overview DOGE rises 4% within the 24-hour interval ending Aug. 9, climbing from $0.22 to $0.23 between Aug. 8 04:00 and Aug. 9 03:00 UTC. The transfer spans a $0.01 vary, marking 5% volatility, based on CoinDesk Analysis’s technical evaluation information. Help holds at $0.22 throughout the 05:00 UTC session on robust bid-side quantity of 262.2 million. Resistance emerges at $0.23 within the 14:00 UTC hour as promoting strain accelerates, with quantity peaking at 780.9 million. Provide zone above $0.23 caps upside momentum. Late-session commerce sees a pointy 1% drop from $0.23 to $0.227 between 02:39 and 03:38. Breakdown happens at 03:34 on 11.4 million quantity, adopted by a 24.1 million spike at 03:35. Worth consolidates in a decent $0.227-$0.229 band into the shut. Worth Motion Abstract • DOGE rallies 4% from $0.22 to $0.23 throughout Aug. 8 04:00 to Aug. 9 03:00 UTC session, confirming $0.22 assist• Sharp 1% pullback in last 60 minutes as institutional promoting strain hits, dropping worth to $0.227• Whale accumulation tops 1 billion DOGE value $200 million, lifting large-holder possession near half of the circulating provide Technical Indicators Evaluation • $0.22 confirmed as key assist with volume-backed protection in early session• $0.23 resistance bolstered by heavy provide and 780.9 million quantity peak• Late-session breakdown triggered on 11.4M adopted by 24.1M quantity spike• Remaining hour data 8x common quantity, signaling institutional exit flows• Whale accumulation at 1 billion DOGE marks vital possession focus What Merchants Are Watching • Whether or not $0.22 assist holds on the following check amid continued whale exercise• Breakout potential above $0.23 if provide zone clears• Indicators of sustained large-holder accumulation versus distribution patterns• Broader meme coin sentiment as a momentum driver Powered by WPeMatico

XRP slides by key ranges in a high-volume selloff earlier than stabilizing at main help, with regulatory readability now in place after the Ripple-SEC settlement. Technical Evaluation Overview XRP falls 5% within the 24-hour interval ending August 9, dropping from $3.34 to $3.20 earlier than recovering to $3.30. The transfer spans a $0.17 vary, marking 5.24% volatility. Promoting strain peaks between 14:00-15:00, when value collapses from $3.36 to $3.20 on 209.67 million quantity — the biggest single-hour print of the session. Patrons defend the $3.20 zone, triggering a rebound to $3.33 by 19:00. Resistance varieties at $3.31-$3.33, with help locked at $3.20. Information Background The Securities and Trade Fee and Ripple Labs have formally ended their five-year authorized battle, collectively dismissing their appeals within the XRP case. The Second Circuit Appeals Courtroom acknowledged the submitting, with each events bearing their very own prices. “Following the Fee’s vote immediately, the SEC and Ripple formally filed immediately with the Second Circuit to dismiss their appeals,” Ripple’s chief authorized officer, Stuart Alderoty, stated on X. Worth Motion Abstract • XRP drops from $3.34 to $3.20 in Aug. 8, between 14:00-15:00 UTC in a high-volume selloff, printing 209.67 million tokens traded.• Patrons defend $3.20 help, sparking restoration to $3.33 by 19:00.• Resistance builds at $3.31-$3.33 as profit-taking caps upside momentum. Technical Indicators Evaluation • $3.20 confirmed as key help with quantity validation at 209.67 million.• Resistance established at $3.31-$3.33 throughout restoration section.• Bull flag construction forming above $3.28, suggesting potential upside continuation if $3.33 breaks.• Quantity spike to 1.86 million at 01:52 signifies focused accumulation makes an attempt.• 5.24% intraday volatility highlights an outlined range-bound commerce between $3.20 and $3.33. What Merchants Are Watching • Whether or not $3.20 holds on the subsequent retest amid continued institutional positioning• Breakout affirmation above $3.33 to sign finish of profit-taking section• Observe-through shopping for linked to post-settlement regulatory readability• ETF-related flows from Japan’s SBI submitting and potential spillover into U.S. markets Powered by WPeMatico

The potential launch of a $1.5 billion crypto firm could significantly impact the DeFi landscape, attracting major tech and crypto investors. The post Trump-backed World Liberty in talks to launch $1.5 billion WLFI treasury firm appeared first on Crypto Briefing. Powered by WPeMatico

TRON’s dominance in stablecoin transfers highlights its pivotal role in global financial inclusion and the shift towards decentralized finance. The post CoinDesk data: TRON surpasses $600B in monthly stablecoin transfers appeared first on Crypto Briefing. Powered by WPeMatico