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This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.A key indicator suggests that bitcoin’s price could soon become more volatile, possibly leading to the next leg higher in the cryptocurrency.This indicator is based on the gap between the bollinger bands, which are volatility bands placed two standard deviations above and below the 20-week simple moving average of the cryptocurrency’s price.When the gap widens, it indicates that the market is more active and volatile – a phenomenon historically observed ahead of significant upward moves in BTC. When the gap narrows, it indicates less activity.The gap,…

Chinese tech giant Tencent is exploring a potential acquisition of Nexon, the South Korean game developer behind the hit title Dungeon & Fighter, Bloomberg reports. Nexon is heavily invested in Web 3 gaming, including the ambitious MapleStory franchise.The firm has reportedly approached the family of Nexon’s late founder Kim Jung-ju, who controls a 44.4% stake in Nexon via holding company NXC Corp, to discuss a potential acquisition.Discussions are still preliminary, and there’s no guarantee they will result in a deal, the report states, citing sources close to the matter.If successful, Tencent would be acquiring a company with a $16.6 billion…

Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.As Asia begins its Thursday business day, ETH is trading at $2,770.ETH is up almost 11% this month, according to CoinDesk market data, outperforming BTC, which rose 5%.Part of this could be because of institutional trading demand, and the fact that it’s overtaken BTC in derivatives markets as sophisticated investors increasingly bet on ETH’s structural growth and role…

The U.S. Senate took the initial steps toward final approval of its first major crypto legislation as members opened voting Wednesday on the bill to set standards for U.S. stablecoin issuers, clearing the highest procedural hurdle with a 68-30 result.In a moment that will mark the industry’s greatest U.S. policy success to-date, the famously slow-moving Senate is on its way to clearing the legislation with wide bipartisan support. And as the crypto world watches the Senate reverse what had long been a crypto-resistant stance, the House of Representatives has also scored a pair of key votes to advance legislation even…

As President Donald Trump’s trade war threatens to upend the global economy, an interesting divergence has emerged that could potentially grease the bitcoin bull run.The divergence in consideration is the elevated yields on U.S. Treasury notes that threaten to compound the fiscal issues, and the renewed negative flip in yields on Swiss government bonds.According to data source Investing.com, Swiss government bonds with maturities of up to five years offered negative yields at press time, with the two-year yield at -17.8 basis points. On the contrary, similar-duration Treasury notes offered yields over 4%.The divergence is the bond market’s way of telling…

SG Forge, the cryptocurrency division of French bank Société Générale, plans to introduce a dollar-backed stablecoin on the Ethereum and Solana blockchains, the bank said on Tuesday.The USD CoinVertible (USDCV) will start trading in early July and involves Bank of New York Mellon acting as reserve custodian for the token.As crypto rules coalesce around the globe, pressure is mounting on banks to take part in the integration of fiat-pegged stablecoins into mainstream finance (TradFi). SocGen, something of a stablecoin pioneer with its euro-backed EURCV token, says it is the first global banking group to issue a public stablecoin tied to…

Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.Keep an eye on , is what fund manager March Zheng is telling investors.As Asia begins its business day, ETH is trading above $2,500, down 0.4%. While this might not seem like a lot in the volatile world of crypto, ETH has defied the odds and is up 40% on-month, which is impressive because its performance is only…

Binance Square, the social network platform rolled out by crypto exchange Binance in October 2022, is launching a livestream product.The feature, Binance said, will provide experienced traders and content creators another means of engaging their audience. Livestreams should foster learning, increase engagement on the platform, and enhance users’ market insights.Livestreaming is already a feature on large social media platforms such as X. Notably, the Solana-based token production protocol pump.fun shut down its own livestreaming feature in November after some of its users performed pornographic or dangerous acts. It quietly revived the product in April with additional guardrails. Source link

Crypto staking, under certain circumstances, does not appear to implicate U.S. securities law, a branch of the U.S. Securities and Exchange Commission said late Thursday.The SEC’s Division of Corporation Finance published a staff statement — the latest in a series from the regulator — spelling out how the regulator may evaluate proof-of-stake networks, mainly noting that covered activities do not “involve the offer and sale of securities” — meaning the SEC won’t sue any person or company participating in those activities.Node operators and validators, custodians, delegates, nominators and entities staking assets either on their own, staking directly with a third…