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Ether, Dogecoin Lead Crypto Gains as Firms Signal ‘Prime’ Breakout Chance for Market

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Crypto prices extended their rally on Thursday, with Ether and Dogecoin leading the charge, as a combination of supportive risk sentiment and growing political momentum around digital asset legislation helped push markets higher.

Bitcoin hovered near its all-time high at $112,000, while Ether surged past $2,780, up nearly 7% over 24 hours. Dogecoin jumped 6%, with broader majors like Solana and XRP also gaining.

The CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, minus stablecoins, rose over 2%.

Onchain analysis firm Santiment noted that retail trader-based wallets were seemingly absent from the current move, which, historically, sets the stage for sharp upside moves.

“History has shown that this is a prime sign of a potential breakout, as crypto markets typically move the opposite direction of the crowd’s expectations,” the firm said in an X post. “When retail shows FUD (whether through fear or impatience), these are usually prime spots for smart money to move in and accumulate. This time has been no different.”

The moves came as U.S. equity markets digested another round of tariff threats from President Donald Trump, including a 50% levy on copper imports and higher duties on Brazilian goods that sent stocks in the country tumbling.

However, U.S. equity-index futures dipped just 0.1% and global tech stocks continued to rally, with Nvidia briefly touching a $4 trillion market cap. Treasury yields softened as bond markets received a bid, suggesting that investors remain positioned for a supportive policy environment, even amid rising geopolitical noise.

«Crypto prices surged to new all-time highs on the back of a supportive risk and equity backdrop,” said Augustine Fan, Head of Insights at SignalPlus.

“BTC climbed above $112K after the U.S. House Committee announced next week as ‘Crypto Week,’ with a July 16 hearing titled Making America the Crypto Capital of the World. Traders are expecting concrete signals after months of posturing,” Fan added.

Fan noted that the market is still operating under a six-month soft target for regulatory recommendations set by President Trump in January. Next week’s hearing could offer clarity, or at least momentum, for a long-awaited federal framework.

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CoinDesk 20 Performance Update: SUI Gains 6.4% as Index Trades Higher

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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 3272.26, up 0.8% (+24.45) since 4 p.m. ET on Wednesday.

Sixteen of 20 assets are trading higher.

9am CoinDesk 20 Update for 2025-07-10: vertical

Leaders: SUI (+6.4%) and AVAX (+3.0%)

Laggards: AAVE (-2.7%) and UNI (-1.3%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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Cardano Foundation Increased Spending on Core Areas by 15% Last Year

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Cardano Foundation, a not-for-profit organization that develops and supports the Cardano network, said it spent $22.1 million on its three core areas last year, a 15% increase from 2023.

The money was allocated to adoption, operational resilience and education, according to the report, which is available to view on-chain via the Cardano Foundation’s Reeve tool. That’s up from $19.22 million the year before.

Assets rose to $659.1 million worth of crypto from $478.24 million as crypto prices rose. The price of bitcoin (BTC), which now accounts for about 15% of its holdings, climbed about 120% in 2024 while ADA (ADA) added 42%. ADA’s share of of assets dropped to 77% from 83%, according to the report.

«The Foundation’s primary income stream comes from staking rewards, which in 2024 totalled 17.1 million ADA from its 599.2 million ADA holdings—a return of 2.7%,» the company said. «Importantly, the delegation strategy prioritises stake pools that contribute meaningfully to the ecosystem, reinforcing the Foundation’s role as a responsible participant in Cardano’s decentralized infrastructure.»

In 2024, the foundation allocated over half of its expenditure — $15 million — toward adoption initiatives. These efforts included collaborations with organizations such as NASA, Barcelona FC, and the United Nations Development Programme, aiming to expand Cardano’s real-world applications.

Operational resilience received $3.8 million, funding enhancements like the launch of an open-source Cardano.org platform and the introduction of the Inter-Blockchain Communication Protocol, which connects Cardano to over 115 blockchains.

The organization employed more than 100 people by year-end.

«As stewards of an open-source ecosystem that is building for the long-term future of blockchain, we recognize that sharing not only our achievements but also how we allocate resources is fundamental to building trust and ensuring long-term success,» Frederik Gregaard, the foundation’s CEO, told CoinDesk.

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Sequans Communications Kicks Off Bitcoin Treasury with 370 BTC Purchase

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Sequans Communications (SQNS), a leading cellular semiconductor maker, has announced its acquisition of 370 bitcoin BTC as part of a newly launched bitcoin treasury strategy.

The purchase was funded by proceeds from its recent equity and convertible debenture offering that closed on July 7.

“We are excited to begin executing our strategic plan to accumulate over 3,000 BTC in the coming weeks,” said Georges Karam, CEO of Sequans. “This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders.”

Sequans has chosen Coinbase as custodian, utilizing Coinbase Prime’s institutional-grade services.

Sequans Communications shares are up 2% in pre-market trading following the announcement of its bitcoin treasury strategy.

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