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
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Crypto prices again muted as gold surges to new record, U.S. stocks advance
Bitcoin for the moment was unable to hold the $90,000 level reached prior to the U.S. market open.
What to know:
- Crypto prices are slipping a little during the U.S. trading session as precious metals and stocks move higher.
- The AI trade remains strong, with bitcoin miners who have pivoted business models moving sharply higher.
- Both gold and silver hit new records Monday and one analyst said bitcoin can't rally until those metals cool.
Top Stories
