Share this article
First Mover Americas: Bitcoin Trades Little Changed Above $58,000
The latest price moves in crypto markets in context for Sept. 13, 2024.
Updated Sep 13, 2024, 12:07 p.m. Published Sep 13, 2024, 12:07 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
CoinDesk 20 Index: 1,849.02 +0.94%
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
S&P 500: 5,595.76 +0.75%
Gold: $2,567.76 +0.37%
Nikkei 225: 36,581.76 -0.68%
Top Stories
Bitcoin was little changed, drifting mainly between $57,800 and $58,200 and trading just 0.33% higher over 24 hours at $58,250. The listlessness is a possible sign the world's largest cryptocurrency is taking a breather following its recovery from $53,800 a week ago. The broader digital asset market has risen around 0.9%, as measured by the CoinDesk 20 Index, with XRP rallying more than 5% to lead the gains. XRP was buoyed on Thursday by digital asset manager Grayscale's launch of a trust offering exposure to the token, paving the way for a possible effort to turn it into an exchange-traded fund, as it did with its BTC and ETH products.
The market value of tokenized real-world assets (RWAs) has hit $12 billion, according to research by crypto exchange Binance. Bigwigs from Wall Street, including BlackRock and Fidelity, have successfully forayed into RWAs alongside several crypto-native projects such as Securitize and Polymath. Tokenized treasury funds, digital representations of the U.S. Treasury notes, have surpassed $2.2 billion in market value, with BlackRock's BUIDL boasting nearly $520 million. With a market cap of $434 million, Franklin Templeton's FBOXX is the second-largest tokenized Treasury product. Elevated interest rates in the U.S. have catalyzed the rapid growth and leadership of the tokenized Treasuries market, according to Binance Research.
Starknet token holders voted on Friday to implement staking on the layer-2 network, a proposal that’s been in the works since July, in a landmark governance election on Snapshot's new decentralized Snapshot X platform. The vote, which went live on Tuesday, passed with overwhelming support, though only 0.08% of eligible voters took part. A full 98.94% of participants voted in favor of implementing staking, while 0.45% abstained and 0.61% voted against it. The new mechanism on Starknet means that anyone holding more than 20,000 of the project's native token, STRK, will be able to stake on the network, starting in the fourth quarter of this year.
Chart of the Day
- The chart illustrates the distribution of trading activity in decentralized exchanges (DEX) over different blockchains over the past 11 months.
- Arbitrum accounts for more DEX volume than Binance Smart Chain. Still, Arbitrum's ARB is down over 60% this year, while binance coin is up 75%.
- Source: IntoTheBlock
- Omkar Godbole
Trending Posts
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin pushes above $90,000 as traders eye change in pattern
Particularly hard-hit in 2025's final sessions, crypto-related stocks are bouncing in this year's first trading day.
What to know:
- Bitcoin rose above $90,000 during U.S. trading hours on Friday.
- It's a notable change in trend, as crypto prices late in 2025 were typically on the defensive while American stocks traded.
- Strategy, Coinbase, Hut 8 and Galaxy Digital were among the crypto-related stocks seeing strong gains.
Top Stories
