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Ether Zooms 7% as Bitcoin Traders Watch $80K Support Ahead of FOMC

Published

2 месяца ago

19 марта, 2025

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Ether (ETH) zoomed nearly 7% in the past 24 hours to lead gains among majors as traders await the results of the Federal Open Market Committee (FOMC) meeting on Wednesday.

ETH’s gains were coupled with a 4% gain in memecoin dogecoin (DOGE), which historically tends to act correlated to the asset’s movements. Other Ethereum-based memecoins pepe (PEPE) and mog (MOG), rose more than 5% — continuing to act as levered bets.

Elsewhere, majors XRP, BNB Chain’s BNB, Solana’s SOL and Cardano’s ADA rose 3%. Tron’s TRX dipped after a surge 5% earlier in the day as memecoin trading picked up on the blockchain following a no-fee update in the Sunpump platform.

Bitcoin (BTC) rose 2% and remained steady under $84,000 in Asian evening hours ahead of the FOMC, where traders expect rates to be held steady. The $80,000 mark remains one to be watched, some say, as a break below would mean a critical support level vanishes.

The widely-watched ETH/BTC ratio — or the trading pair of ether against bitcoin — rose from 0.23 to 0.24 since Asian morning hours, indicative of a bump in demand for riskier ETH versus the perceived safety of bitcoin.

Ether rose on no immediate catalyst, but the mothership network has technical catalysts in the making. The Pectra upgrade, Ethereum’s next major update, is currently in testing and aims to improve scalability, staking, and user experience with over 20 EIPs, including EIP-7702 (smart account functionality) and EIP-7251 (raising validator staking limits to 2,048 ETH).

Testing began on Holesky in February 2025, followed by Sepolia in March, but faced challenges like transaction processing issues due to client incompatibilities. A new testnet, Hooli, launched on March 17, with Pectra testing scheduled for March 26. If successful, mainnet deployment is expected in late April or early May 2025.

“BTC has found some support at the $80K, but that seems tenuous at best amid broader macro weakness,” traders at Singapore-based QCP Capital said in a broadcast message. “We won’t attempt to call the exact moment when the music stops, but in the short term, we struggle to identify meaningful tailwinds to reverse this rout.”

“We will be watching closely for any dovish shifts, particularly on growth and inflation expectations. Given that it will take months for the impact of tariffs to ripple through the economy, we expect the Fed to remain in “wait-and-see” mode,” QCP added.

Meanwhile, gold broke above $3,000 to new highs earlier Wednesday, leading to some eyeing an inverse correlation of the yellow metal with bitcoin.

“Despite its historical correlation with gold as a macro hedge, Bitcoin’s current divergence—falling while gold rises—suggests it’s acting more like a risk asset, influenced by Fed policy uncertainty, profit-taking, and a shift to traditional safe-havens,” Ryan Lee, Chief Analyst at Bitget Research, told CoinDesk in a Telegram message.

“The FOMC outcome could either trigger a recovery if dovish or deepen the correction if hawkish, with bitcoin’s short-term trajectory tied to broader economic signals rather than solely reinforcing its «digital gold» role,” Lee added.

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True Markets Raises $11M in Series A, Launches Mobile-First DeFi Trading App on Solana

Published

2 часа ago

20 мая, 2025

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True Markets, a new decentralized finance (DeFi) trading platform focused on stablecoin-native execution, has launched its mobile app on Solana and closed an $11 million Series A, bringing total funding to $20 million, the company said in a press release Tuesday.

The funding round was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.

Seed investors Paxos Ventures and the Solana Foundation, continue to support the firm, True Markets said.

Founded by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, New York-based True Markets aims to deliver a non-custodial, mobile-first DeFi trading experience for retail users, prioritizing speed, simplicity, and transparency.

The app enables stablecoin-powered token trading on Solana, with gasless execution, smart order routing, and embedded key management via Turnkey, all without users surrendering custody of funds, True Markets said.

“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity,» said Vishal Gupta, CEO of True Markets, in the release.

«Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone,» Gupta added.

Backed by infrastructure partners Turnkey and Definitive, the app features real-time market sparklines, automated execution across decentralized venues, and hosted wallets that support immediate funding and trading within a non-custodial framework.

True Markets said it plans to expand into both CeFi and DeFi markets, with future integrations including TrueX, a centralized exchange designed for institutional liquidity and qualified custody.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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CoinDesk 20 Performance Update: Litecoin (LTC) Drops 6.1%, Leading Index Lower

Published

2 часа ago

20 мая, 2025

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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 3147.53, down 0.7% (-22.88) since 4 p.m. ET on Monday.

Four of 20 assets are trading higher.

9am CoinDesk 20 Update for 2025-05-20: full chart

Leaders: AAVE (+9.8%) and HBAR (+0.7%).

Laggards: LTC (-6.1%) and FIL (-2.9%).

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

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KULR Boosts Bitcoin Treasury to 800 BTC With $9M Purchase

Published

3 часа ago

20 мая, 2025

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Energy management firm KULR (KULR) has expanded its bitcoin treasury to more than 800 tokens, with the purchase an additional $9 million worth of BTC.

The latest acquisition — made at an average price of $103,234 each — brings the total amount KULR has spent on the cryptocurrency to $78 million.

This continues the company’s treasury strategy first announced in December last year, under which it committed to holding up to 90% of its surplus cash reserves in bitcoin.

The Houston-based firm, which develops energy storage systems for aerospace and defense, is measuring the success of this pivot using a BTC Yield metric.

That metric tracks the growth in the ratio of bitcoin holdings to the number of shares outstanding, rather than actual dollar returns or revenue. So far in 2025, KULR says that ratio has jumped by 220, according to this morning’s press release.

KULR’s shares are up 3.15% in pre-market trading at $1.3.