Browsing: Analysis

The NFT party is over and everybody now owes storage rent

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In 2021, Christie’s sold a Beeple NFT for $69.35 million, and Sotheby’s took another $24.40 million for 101 Bored Ape Yacht Club NFTs, giving cartoon primates the kind of auction-house treatment usually reserved for Fabergé eggs. But now, not five years later, one of the marketplaces that helped sell the digital art revolution is explaining…

Washington has $114 billion reasons to want Tether around

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Not that long ago, Washington fined Tether for misleading people about the dollars behind its tokens. Today, the company’s insatiable appetite for American debt is the main argument for sending those tokens further around the world. The distance between those two positions tells us a great deal about where crypto ended up. Tether built a…

Why cash hoarding in the UK proves the world still craves permissionless money

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You can spend weeks paying for everything with your phone and still feel better knowing there’s some cash at home. That might sound old-fashioned until your bank’s app stops working, your card gets declined for reasons nobody can explain, or the power goes out while you need groceries. In those moments, the idea of financial…

Bitcoin survives a 5.2% Treasury shock as traders slash $1.7 billion in leverage

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Bitcoin is holding near $84,000 even as a historic US bond selloff pushes Treasury yields to decades-high levels. The benchmark 10-year Treasury yield climbed to 5.22%, extending a move that has taken borrowing costs to their highest level since 2007. The 30-year yield reached a fresh 22-year high of 5.5185% before trading around 5.511%, up…

XRP volume surges to $7.4B amid heavy CME short squeeze

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XRP reached an intraday peak of $1.60 alongside $7.4 billion in volume as regulated futures markets showed significant positioning discrepancies. CFTC data revealed leveraged funds slashed net short positions on CME by 46.3 million XRP, while Coinbase products saw much smaller shifts.