ZionCoin MarketCap Cryptocurrency Listing

US crypto stocks surged on Tuesday amid a shaky Donald Trump-brokered ceasefire agreement between Iran and Israel.... Read more

Coinbase says it helped the US Secret Service seize $225 million in crypto allegedly stolen by scammers, the largest crypto seizure in the agency’s history.... Read more

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.After a tense weekend that saw the U.S. bomb an Iranian nuclear site, bitcoin btc has regained its footing, hovering around $106K as Asia begins its Wednesday session and pushing past levels from earlier this month when Israel bombed Iran.Part of the reason why crypto has recovered alongside traditional markets is just how correlated the two have become."Bitcoin’s sensitivity to traditional asset classes and macroeconomic indicators has evolved markedly over the past few market cycles, reflecting its growing integration into the broader macro-financial system," a recent report from Glassnode and Avenir Group reads. "Institutional infrastructure has reshaped how capital engages with bitcoin. As a result, its market behavior is increasingly governed by structural liquidity, long-horizon positioning, and regulated access points."That institutional backbone was visible again this week.Semir Gabeljic, director of capital formation and investment strategy at Pythagoras Investments, cited ETF flows as a major tailwind: "The huge recent capital inflows in Bitcoin ETFs of $1.1 billion last week and even $350 million today alone" are driving the positive trend.Spencer Yang, Core Contributor to Fractal Bitcoin, added that one of the reasons why BTC was able to shake off war jitters so quickly is that fundamentally, nothing has changed about the asset class due to the conflict in the Middle East.All the metrics that investors would look to for BTC are still there, and other bullish market sentiment is possibly on the way.“We’re seeing continued interest in protocols like BRC-20, especially with the recent upgrade, as well as Runes and Alkanes, which have been getting a lot of attention," he added. "So overall, on‑chain activity across the board is increasing thanks to these types of assets.”The takeaway? As bitcoin becomes increasingly defined by institutional demand and macro liquidity cycles, analysts see its price action as less about reacting to headlines and more about long-term capital commitment. This structural shift is what continues to anchor BTC above $100K, despite the noise.Tim Draper: Bitcoin Is Eating Crypto as Innovation Flocks to BTCThe Bitcoin blockchain is becoming the new home for crypto innovation, absorbing ideas once exclusive to altcoins, just as Microsoft once consolidated the software revolution under its operating system empire, Tim Draper argued in a recent post on X.Draper pointed to BTC dominance, a metric equivalent to its "market share," rising over 60%,up from 40% after the 2017 boom-bust cycle and 50% following the 2021 peak, as proof that Bitcoin is reasserting control over the broader crypto ecosystem.Much like how Microsoft integrated or cloned early success stories like Lotus 1-2-3, WordPerfect, and PowerPoint to form its software suite, Draper says Bitcoin is now incorporating once-altcoin-exclusive innovations: smart contracts, DeFi, ordinals, and low-cost layer 2s.“All the successful innovations on other platforms are now being ported to Bitcoin,” Draper wrote, calling it an “acceleration” that mirrors Big Tech consolidation. Developers, he said, are increasingly gravitating toward Bitcoin as the most secure and valuable chain.Draper, who runs a Bitcoin-focused accelerator with Boost VC, said the next generation of entrepreneurs is building on Bitcoin not just for ideological reasons, but because the infrastructure and ecosystem are now ready.“Smart entrepreneurs are always building on the platform with the strongest gravitational pull,” he wrote. “That platform is Bitcoin.”WazirX Granted Extension to Present Revised Restructuring PlanWazirX has received a court-approved extension from the Singapore High Court, allowing it to present further arguments in support of its proposed Scheme of Arrangement. The court also extended the moratorium on creditor actions, which will now remain in place until a ruling is issued on the revised plan.In a statement released Monday, the exchange said it is awaiting further directions from the court and reiterated its commitment to resolving outstanding claims. The company’s original restructuring plan, rejected by the court last month, as CoinDesk previously reported, sought to reimburse users affected by a $234 million hack in July 2024 through the issuance of recovery tokens and a transfer of operations to a new entity, Zensui Corporation.More than 93% of creditors had approved the initial plan, but the court cited concerns around governance and transparency.Without an approved arrangement, WazirX faces the possibility of liquidation under Singapore’s Companies Act, which could lead to extended delays and reduced creditor recoveries. No date has been set for the next court hearing.Market MovementsBTC: Bitcoin surged past $106,000 after a ceasefire between Israel and Iran eased geopolitical tensions, triggering a breakout fueled by high-conviction buyers, bullish technical signals, and strong on-chain accumulation, while the broader CD20 index also climbed nearly 1% amid renewed market strength.ETH: Ethereum surged 4% to break above $2,450 as Trump’s announcement of an Israel-Iran ceasefire eased global tensions, triggering renewed institutional accumulation and strong on-chain buying momentum.Gold: Gold fell as much as 2% to $3,300 after Trump’s surprise Israel-Iran ceasefire announcement eased geopolitical tensions, weakening safe-haven demand even as the metal remains up over 25% year-to-date.Nikkei 225: Japan’s Nikkei 225 rose 0.12% as Asia-Pacific markets opened higher Wednesday, buoyed by the Israel-Iran ceasefire and new signals from the U.S. Federal Reserve.S&P 500: U.S. stocks surged Tuesday, with the Nasdaq and S&P 500 hitting their highest levels since February as a tech-led rally gained momentum amid growing optimism over a fragile U.S.-brokered Israel-Iran ceasefire.Elsewhere in CryptoThe Bank of International Settlements is Warning about Stablecoins (CoinDesk)Why Everyone Wants Their Own Stablecoin (Bloomberg)What Tariffs Will — and Won’t — Change for U.S. Bitcoin Miners (CoinDesk)... Read more

Bitcoin mining firm Hut 8 (HUT) said on Tuesday that it expanded its bitcoin-backed credit facility with Coinbase Credit to $130 million, up from $65 million.The amended agreement also comes with a fixed interest rate of 9% versus the previous floating rate of between 10.5% and 11.5%. The maturity of the facility was extended to July 16, 2026.“This facility has been an efficient source of capital on our balance sheet,” said Sean Glennan, Hut 8’s chief financial officer. “The combination of improved terms and collateral and borrower protections reflects our conviction that risk discipline is essential to building a resilient and efficient capital structure.”Unlike many traditional loans, this one is secured by bitcoin holdings. Coinbase, however, is restricted from rehypothecating the collateral, a measure that limits counterparty risk. The credit line also includes a limited recourse clause, further shielding Hut 8.The company said it will use the additional $65 million in capital to pursue expansion efforts.HUT shares are higher by 7.7% on Tuesday alongside gains for most of the bitcoin mining sector.Hut 8 operates a network of mining and data infrastructure assets across North America, with over 1,000 megawatts (MW) of energy capacity under management.... Read more

Bitcoin Cash (BCH) BCH is trading at $452.13, down 0.54% over the past 24 hours, after failing to breach the $467 resistance level across multiple tests, according to CoinDesk Research's technical analysis model. The token briefly surged near that level late on June 23, gaining nearly 3% during a high-volume spike, but was subsequently rejected twice more, reinforcing the significance of that barrier. A descending trendline formed during the corrective pullback, with lower highs establishing a bearish short-term tone.On the regulatory front, Federal Reserve Chair Jerome Powell announced that U.S. banks now have the freedom to determine their digital asset customer base without prior regulatory pre-approval. This policy shift effectively removes institutional adoption barriers and is considered a meaningful step toward greater integration of crypto within the traditional financial system.Technical Analysis HighlightsBCH traded in a $19.76 range (4.4%) from $449.61 to $469.63 over 24 hours.At 22:00 on June 23, BCH surged nearly 3% on 79,485 volume units, setting resistance at $467.The $467 level was tested and rejected two more times, confirming strong overhead resistance.Support formed around $450 with significant volume accumulation between 15:00–16:00.A descending trendline of lower highs emerged following the initial spike, signaling bearish momentum.A V-shaped micro-trend formed during the final hour, with a bounce from $449.94 to $451.31.Volume spiked during the 18:17–18:19 drop and again on the 18:30–18:32 recovery.A short-term support zone developed near $450 after repeated successful retests.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.... Read more

Matter Labs, the developer firm behind the layer-2 network ZKsync, unveiled at the Permissionless conference its new cryptographic prover "Airbender" on Tuesday.A prover is a key component for layer-2s, as it generates zero-knowledge proofs that are then posted to the base layer blockchain (in this case Ethereum) — a crucial process in linking the two chains and ensuring its security.The ZKsync team claims that Airbender is the fastest of its kind, delivering Ethereum block proofs in 35 seconds with a single GPU, outpacing its competitors benchmarks.Having fast speeds can save on transaction fees: “we’re entering fraction of a cent territory which is critical for key use cases, including micropayments, high-frequency trading, and decentralized social,” said Alex Gluchowski, the co-founder of Matter Labs, in an interview with CoinDesk. “Faster proofs unlock faster finality, cheaper apps, and crucially, proofs that can be generated anywhere, not just in massive GPU farms.”The new prover, which is an open-sourced zero-knowledge virtual machine (zkVM), is based on RISC-V, a newer programming framework that Ethereum co-founder Vitalik Buterin has suggested to replace the current EVM, because it will make the blockchain more efficient.“We started building ZKsync Airbender over a year ago because we saw where Ethereum needed to go, and what ZK apps would eventually demand,” said Gluchowski. “Vitalik’s recent post was a great affirmation of our plans, but this path has been in motion for a while.”While Airbender is still early in its rollout, Matter Labs has released an app that lets developers test out the new prover. If all goes according to plan and the ZKsync governance process approves it, Airbender will be included in a protocol upgrade later this summer, according to Gluchowski.“ZKsync Airbender proves Ethereum blocks in 35 seconds using a single GPU. That’s the start of something ground-breaking: home-proving, real-time cross-chain UX, and ZK apps that can verify on the fly. This is the foundation for an Internet of verifiable, interconnected chains,” Gluchowksi said.Read more: Vitalik Buterin Proposes Replacing Ethereum’s EVM With RISC-V... Read more

Interoperability platform and oracle provider Chainlink's native token LINK demonstrated remarkable strength on Tuesday, climbing more than 13% over 24 hours to a $13.51 high.Easing tensions in the Middle East with a ceasefire between Israel and Iran already spurred a broad crypto market recovery, with 98 of the top 100 tokens posting gains and bitcoin BTC rebounding to $106,000.Still, LINK vastly outperformed bitcoin's 2.8% and the broad-market benchmark CoinDesk 20 Index's 5% advances.The token's bullish action comes as Chainlink announced earlier during the day a partnership with global payments operator Mastercard to enable over 3 billion card holders to purchase cryptocurrencies directly on-chain.Read more: Chainlink, Mastercard Tie-Up to Let Nearly 3B Cardholders Buy Crypto On-ChainTechnical AnalysisLINK formed a clear uptrend with higher lows and higher highs, breaking through key resistance at $12.50 on substantial volume.Strong support established at $12.85-$13.00, confirmed by multiple tests with above-average volume.Momentum indicators suggest continued bullish sentiment with potential for further upside.Traders should monitor the $13.30-$13.35 resistance zone where recent profit-taking occurred.... Read more

We stream data. We stream music. We stream video. Thanks to stablecoins, we are about to start streaming the whole economy.U.S. dollar stablecoins recently hit a milestone–they represent about 1% of the U.S. money supply (based on the M2 measure). Not a big deal, you may be thinking, but in fact, it might become one in the near future.Stablecoins are growing at a phenomenal rate, about 55% per year. While that is unlikely to continue forever, it is not hard to foresee a future, less than a decade away, where stablecoins represent an amount equal to about 10% of the M1, which is defined as cash, notes, and "easily accessible" digital money like current bank accounts.Stablecoins are designed to be easily accessible and usable, which certainly seems like it would fit into that definition of the money supply. Indeed, on-chain services are starting to look a lot like standard banking services. Except they work faster and cost a lot less.Now, imagine if moving money around was, effectively, free, and instantaneous. Would you manage your money differently? You might. Indeed, global firms are already starting to think about it.Today, companies keep lots of money in lots of separate locations all around the world. It’s not particularly different to how they manage physical inventory. Since moving money across borders is expensive and slow, firms must keep a decent supply of cash on hand locally to pay bills. And, since customers do not necessarily pay invoices with absolute predictability, firms must keep a buffer of cash on hand to manage the variation between predictable costs, like payroll, and unpredictable revenues.Things may look different in the future. If it costs nothing to move money globally and it can be done nearly instantly, the size of those local buffers can be dramatically reduced. Instead of keeping two weeks' worth of expenses locally, including payroll, you might just choose to keep only a day's worth on hand. A slightly larger cash pile can be kept centrally and sent out as needed. Companies could rebalance their global cash holdings every six hours. The result: a significant decrease in working capital requirements.What may start at a global level for large firms could spread quickly, and not just in the B2B space. Why not pay every employee every day for actual hours worked? Payday lenders make a fortune today tiding people over between weekly paychecks. Why not bill customers daily for electricity usage? Electric utilities today wait 30 days to bill you and wait another 30 days for you to pay. The gap between when you use power and when you pay for it can be up to 60 days.This sounds preposterous except that the math pencils out. At 5% interest rates, a $10 debt over the course of a year generates $0.50 in interest at current rates, which is about $0.04 per month. Each week of "float" you can save (or earn) is worth roughly $0.01. Given that payment costs on Ethereum Layer 2 networks are now routinely below $0.01, the answer is yes, it is worth it.Transaction costs are headed in only one direction, which means the economically efficient size and frequency of managing your money only gets more granular.We used to buy music. Then we downloaded it. Now we stream it. Once upon time, the idea of streaming music on demand – and all the bandwidth and computation needed to do that – was seen as ridiculous. Now, it is barely a drop in the bucket compared to video streaming. There is no reason to think payments are different.As with all technological revolutions, the starting point is always "your mess for less." Which is to say that the first thing people will do is take existing processes (like monthly billing) and just run them cheaper. Then it becomes your mess, but faster. Eventually, companies start re-imagining those processes in light of the new economics.Slashing working capital requirements could rearrange the economy in surprising ways. Many companies keep enough cash on hand to cover 12 weeks of expenses. U.S. firms have, in aggregate, about $2 trillion of cash on hand and $2.8 trillion in working capital loans outstanding. Shifting to a financial streaming model could literally free up trillions in capital for new investment.It could also change people's behavior. The longer the time gap between an action and a reward, the harder it can be to get people to respond. Incentives for things like using services or energy at off-peak times might be much more effective when the payout is immediate. Nobody ever went wrong betting on instant gratification.Disclaimer: These are the personal views of the author and do not represent the views of EY.... Read more

Stablecoin firm Circle’s (CRCL) meteoric stock frenzy is showing some signs of cooling.After hitting a record high of $299 on Monday, shares of the stablecoin issuer declined 15% on Tuesday, extending a pullback that has left shares down roughly 25% from their peak. However, at $223, they are still trading over 600% higher than their IPO pricing earlier this month.The drop isn't surprising as some analysts had already noted the stock's lofty valuation compared to peers, while Ark Invest has been continuously selling more than $300 million worth of shares since the IPO. However, Tuesday's decline coincided with fresh doubt from the Bank for International Settlements (BIS), a financial institution owned by central banks, about the future of stablecoins.In a Tuesday press release, the BIS said that "stablecoins as a form of sound money fall short, and without regulation pose a risk to financial stability and monetary sovereignty." The institution argued that these tokens cannot guarantee one-to-one parity with central bank money, may struggle to handle liquidity under stress, and lack the controls needed to prevent financial crime.Instead, the BIS promoted tokenization of central bank reserves, commercial bank money and government bonds as the "next logical step" in financial innovation."Stablecoins may eventually play a subsidiary role in the hinterland of the financial system if adequately regulated," the authors wrote, adding that "besides acting as a gateway to the crypto ecosystem, their future role is unclear."These remarks come in spite of the stablecoin sector's rapid growth for everyday uses such as payments and cross-border transactions, with jurisdictions across the globe advancing regulations for the asset class. Payment firms such as Stripe, Mastercard and PayPal developed a range of stablecoin-based services complementing traditional banking rails. Stablecoins facilitated $4 trillion in transaction volume over the past 30 days, data by Visa shows.Circle is the issuer of USDC USDC, which is the second-largest stablecoin on the market with a $61 billion supply, following Tether's $156 billion USDT USDT. It also launched a payments and remittances network in April, aiming to eventually rival established players such as Mastercard and Visa.... Read more

CleanSpark (CLSK), a U.S.-based bitcoin BTC mining firm, said Tuesday that it reached 50 exahashes per second (EH/s) of operational hashrate — a milestone that makes it one of the largest mining operations in the world.The company built and operates more than 30 sites across Georgia, Mississippi, Tennessee and Wyoming.A vertically integrated setup gives CleanSpark control over energy procurement and operations, helping reduce costs and boost uptime. “It reflects years of focused strategy, disciplined execution, and a relentless commitment to doing things the right way,” said CEO Zach Bradford.Hashrate is a metric used to measure the computing power behind the Bitcoin network. The higher a given company’s hashrate, the higher its chances of earning bitcoin rewards.The firm is now preparing to scale up to 60 EH/s, with Bradford stating the company was in “escape velocity” mode.Meanwhile, CleanSpark’s Digital Asset Management arm has begun actively managing over 12,500 self-mined bitcoin to generate returns and support expansion without issuing new shares. “We’re mining bitcoin efficiently, holding it responsibly, and putting it to work in ways that drive shareholder value,” Bradford said.... Read more

Filecoin (FIL) demonstrated relative strength over the last 24-hour period, surging from $2.051 to a peak of $2.3478, according to CoinDesk Research's technical analysis model.The model showed that strong support has been established around the $2.24-$2.25 zone, confirmed by multiple tests with price bouncing higher each time.In recent trading, FIL was 13.6% higher over 24 hours at around $2.35. The broader market gauge, the CoinDesk 20, was up 8.7% at publication time.Technical Analysis:Price action formed a clear uptrend with higher lows and higher highs, particularly notable during the 22:00 hour on June 23rd when price broke above $2.27 on significantly above-average volume (7.58M)Strong support has established around $2.24-$2.25, confirmed by multiple tests with price bouncing higher each time.The 4-hour consolidation between $2.27-$2.30 suggests accumulation before the next potential move higher, with the $2.31 level now serving as immediate resistance.In the last 60 minutes, FIL-USD exhibited notable volatility with a clear pattern of consolidation followed by a significant price movement.The token traded within a tight range between $2.29-$2.30 for most of the period before experiencing a sharp decline to $2.28 around 15:41, establishing a new support level at $2.285.Volume spiked considerably during this correction, particularly at 15:42 with over 112,000 units traded, indicating strong market participation. The final minutes showed an impressive recovery with price surging back above $2.29, culminating in a high of $2.301 at 15:52 on substantial volume (124,097), suggesting renewed bullish momentum despite the earlier pullback.... Read more

Litecoin shook off last week’s slump, rising 4% to an intraday high of $85.45 and then holding ground near $84. The move came on volume above its 20-day average, signaling conviction behind the breakout.An easing in global stress helped, with a supposed ceasefire between Israel and Iran.The next catalyst may be regulatory. The U.S. Securities and Exchange Commission is reviewing two bids for a spot Litecoin ETF.A green light to such a fund this year, to which Polymarket traders assign an 83% chance, would open LTC exposure to investors betting on crypto through traditional brokerages. Bloomberg analysts see a 95% chance of a spot LTC ETF approval.Technical Analysis OverviewLitecoin’s price burst through the $83.40 ceiling backed by 331,459 LTC being traded in a single hour, according to CoinDesk Research's technical analysis data model.LTC has since been bouncing between $84.00-$84.20 support and $85.30-$85.45 resistance. A descending intraday channel printed lower highs until buyers defended $84.20.Holding above $84 keeps $90 in play while a close below $84 risks a slide to $79.... Read more

Will tariffs end the golden age of bitcoin mining in America?After China banned crypto in the summer of 2021, a huge chunk of the mining industry was forced to relocate — to Kazakhstan, Russia, Canada and other countries with cheap electricity. The biggest beneficiary of this exodus, however, was the United States, which over the last four years has overtaken every other country in the world in terms of hashrate (meaning that more bitcoin is produced in the U.S. than anywhere else).Yet President Donald Trump’s tariff policies, unveiled on April 2 but paused for the time being, threaten to increase the costs of ASICs, the extremely powerful computers used to produce bitcoin. Only a handful of companies know how to build these ASICs, and the majority of their manufacturing facilities are located in Southeast Asia, in nations that face roughly 10% to 50% tariffs.While the new taxes probably won’t make it prohibitively expensive for U.S.-based miners to import new machines, they will likely slow down the industry’s expansion in the country, multiple experts told CoinDesk.“The U.S. is still going to be the major source of hashrate globally for the foreseeable future, but its overarching dominance will likely erode as bitcoin mining becomes a much more global business,” said Taras Kulyk, CEO of bitcoin hardware firm Synteq Digital.“We're certainly going to see U.S. hashrate plateau in terms of relative growth,” he added. “Other countries are coming into the space in a big way. Pakistan just announced it will dedicate two gigawatts of power to bitcoin mining. There are all sorts of projects happening in Ethiopia and abroad. They will certainly take up quite a bit of hashrate capacity growth.”Tariffs are only a piece of a much larger puzzle. Other factors, such as the enormous demand for new data centers dedicated to artificial intelligence (AI) and the diminishing number of ideal U.S. locations for firms to set up mining facilities, are likely to have a larger impact on a miner’s calculations when it comes to choosing a jurisdiction in which to operate.U.S.-based operations are still, in the short-term, able to tap into a robust secondary market in order to acquire mining rigs without paying tariffs. In the long-term, ASIC manufacturers are taking steps to produce their machines on U.S. soil.The consensus seems to be that, far from destroying bitcoin mining in the U.S., tariffs are simply shaping up to be a new variable that the quick-moving, hyper-competitive industry has to contend with.Biting the bulletTariffs mostly presented a challenge to miners in April because of how sudden and steep they were. Miners and logistics companies rushed to push ASIC shipments into the U.S. before the policy’s implementation in order to avoid paying substantial taxes — only for the White House to push the deadline back a few months.Now, however, mining firms have adapted to the idea that imported ASICs will cost at least 10% more than they used to. But there is uncertainty as to whether this is the new normal. The Trump administration is still in the midst of trade negotiations, and the court system has yet to provide a definite ruling on the lawfulness of its new policies.“It’s likely going to take a long time for us to have a definitive answer on what tariffs will look like — at least until the Supreme Court weighs in,” Lauren Lin, head of hardware at bitcoin hardware firm Luxor Technology, told CoinDesk in an interview. “We expect it to take a few months, even over a year.”In the meantime, Luxor (which also runs a freight-forwarding business) isn’t seeing any signs of panic among its clients, though there has been an uptick in questions on how to prepare for Washington’s policy changes, according to Lin. Nor is the ASIC secondary market (where U.S.-based firms can acquire pre-owned, cheaper machines) slowing down, she said. In other words, miners are plodding along.But there are new difficulties, like the fact that tariffs also impact imported electrical hardware. Transformers, for example, are mostly manufactured overseas and were already difficult to obtain before April. Tariffs have only worsened the situation. This has been a bigger source of frustration for miners than tariffs on ASICs, according to an individual who works for a crypto trade organization.Overall, the White House’s initial tariffs on Southeast Asian nations should only be seen as a starting point for a policy that will likely evolve over time, Jeff LaBerge, head of capital markets and strategic initiatives at bitcoin miner Bitdeer, told CoinDesk in an interview. “We're pretty optimistic that there'll be a reasonable outcome at the end of this,” he said.Made in AmericaThe $30 billion ASIC market is dominated by Bitmain, a Chinese firm whose machines power roughly 80% of Bitcoin’s hashrate, according to TheMinerMag. Its competitors include MicroBT, Canaan and Bitdeer.These companies manufacture the vast majority of their ASICs in Malaysia, Thailand and China, though MicroBT already has at least one facility in Pennsylvania, and Bitmain announced in December that it was launching a new production line in the United States. Canaan has also completed a U.S. trial run, meaning that it now has the capacity to build ASICs in the country if it chooses to.The Trump administration’s tariffs are accomplishing one of their stated objectives (to boost U.S. industry) in that they’re incentivizing these ASIC manufacturers to scale up their operations in the country.Canaan told CoinDesk that, while production in the U.S. is costly, it brings the advantages of being geographically closer to their customers and of reducing supply chain risks. The firm said that it is currently exploring the possibility of partnering with existing U.S.-based manufacturers for its own purposes. MicroBT is also looking into ways to avoid tariffs by ramping up U.S. production.Bitdeer, a new but technologically advanced player in the ASIC scene, is looking at the situation as an opportunity to seize market share from the incumbents. “We'd like to migrate as much as we can to the U.S.,” LaBerge said. “It will take some time to ramp that up.”“Being a manufacturer and a miner gives us tremendous optionality, because we'll always have a home for the rigs that we produce, whether it's in our own data centers or with a third party,” he added. Bitdeer has mining operations in Texas and Ohio, among other locations.The heavyweight, Bitmain, has not communicated new plans to ramp up U.S. production since tariffs were announced in April. But the company will likely want to demonstrate that it’s building in the U.S. in accordance with the Trump administration’s goals, Synteq’s Kulyk said. Bitmain did not respond to a request for comment.In any case, the consensus seems to be that expanding production capacity in the U.S. will be a slow and costly process.“Whether we scale our machine manufacturing in the U.S. depends on our ability to cut costs as well as demand from our U.S. customers. If demand from U.S. customers is low, manufacturing here doesn't make sense,” Canaan told CoinDesk. “In addition, if tariffs on products from Southeast Asia [end up being] low, then we don't necessarily need to build up our manufacturing capabilities in the United States.”The end of a golden age?So miners are quickly adapting to the new reality of tariffs, and ASIC manufacturers look ready to ramp up local production. Nevertheless, Bitcoin’s U.S.-based hashrate (currently worth over 40% of global hashrate) is unlikely to keep growing as fast as it has in the last four years.For one thing, tariffs do have an impact. Bitcoin mining is a highly competitive industry, and companies are always looking for ways to cut costs. If the choice is between opening a new mining facility in Texas or in Ontario, tariffs may swing the decision in favour of the latter.More important, however, is the fact that it’s getting harder to find new U.S. locations that meet the necessary requirements for spinning up new bitcoin mining operations. “Most of the low-hanging fruit has been picked in the U.S.,” LaBerge said.Not to mention that competition has become more intense. Data centers dedicated to high-performance computing (HPC) are popping up all over the country in order to scale AI capabilities, and the industry’s major players — Microsoft, Meta, Google — are deep-pocketed. If a site is suitable for both mining and HPC, the miners are unlikely to win a bidding war.Nor would they necessarily want to. HPC data centers are more complex and capital intensive to build, but they also bring in much higher profits; this has led a number of bitcoin mining firms to diversify into AI.“HPC chasing electrons is the main theme for the next two to 10 years,” Kulyk told CoinDesk. “Bitcoin miners most certainly have targets on their backs for acquisition and consolidation in the space… As a sector, they will likely get eaten or absorbed into overall digital compute.”This phenomenon is likely to stay contained to the U.S. because of the technical sophistication required to build and run HPC centers. Political considerations also play a big part, considering the ongoing AI arms race between... Read more

Avalanche’s AVAX has surged 8.2% in 24 hours, climbing from $16.29 to $18.50, establishing strong support at $18.03, but facing resistance at the $18.47-$18.50 zone, according to CoinDesk Research’s technical analysis model.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 6.3% in the same period of time.Technical Analysis• The price action formed a clear uptrend with higher lows establishing support at $18.03, while significant volume spikes at the $17.40 and $18.07 levels confirmed strong buyer interest.• A notable resistance zone emerged around $18.47-$18.50, where profit-taking occurred after the initial surge, though the asset maintained most of its gains and appears poised for further upside if it can break through this level with sustained volume.• In the last 60 minutes, AVAX exhibited notable volatility with a clear downtrend, falling from $18.24 to $18.19, representing a 0.28% decline.• The asset experienced significant price swings, reaching a high of $18.64 before encountering strong selling pressure that drove prices down to $18.14.• A brief recovery attempt formed with three consecutive green candles, but this rally failed at resistance, confirming the bearish sentiment that has dominated the latter part of the session.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.... Read more

Solana's SOL token SOL is trading at $145.47, up 7.63% in the past 24 hours, as traders responded to a breakout surge backed by strong futures activity. The rally gained traction after a sharp bounce from $133.55 to $144.10, supported by above-average trading volumes during the 17:00 and 22:00 hours, according to CoinDesk Research's technical analysis model. Per a post on X earlier today by crypto analytics firm Glassnode, CME futures volume for SOL hit an all-time high of 1.75 million contracts, reflecting an increase in institutional interest. This marked the highest volume level since the exchange introduced SOL futures in March, signaling aggressive positioning by sophisticated market participants as price approached the $145 zone.In a separate development with longer-term significance, Kazakhstan's government issued a press release on May 30 announcing the creation of the Solana Economic Zone Kazakhstan (SEZ KZ), the first such initiative in Central Asia built on Solana’s blockchain. The launch event took place in Astana with support from the Solana Foundation and government agencies. According to the Ministry of Digital Development, Innovation and Aerospace Industry, the SEZ will serve as a testbed for asset tokenization, blockchain engineering education, and foreign startup onboarding.The SEZ initiative includes three strategic pillars:Tokenized Capital Markets: A pilot program with AIX, Solana Foundation, Jupiter, and Intebix aims to introduce tokenized financial instruments into Kazakhstan’s infrastructure.Web3 Talent Development: A nationwide blockchain education initiative will be launched in partnership with universities and Astana Hub.Startup Onboarding: With support from Forma, the country plans to attract international Web3 firms through infrastructure access, regulatory clarity, and business incentives.Technical Analysis HighlightsSOL gained 7.63%, climbing from $133.55 to $145.47 within a $15.94 range.The sharpest rally occurred at 22:00, when price spiked to $146.90 on 3.92M volume.A high-volume support level was established at $132.43 during the 17:00 hour.SOL entered a consolidation zone between $143 and $146 with resistance at $146.55.A V-shaped recovery followed a dip from $144.88 to $143.59.Strong support emerged at $143.60 with 38,097 SOL volume at 13:53.A short-term support band formed between $143.60 and $143.80.Immediate resistance was observed at $144.30.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.... Read more