Nasdaq has reportedly struck a strategic partnership with Gemini, the crypto exchange founded by the Winklevoss twins, to tap its custody and staking services.
Bitcoin (BTC) remained at $112,000 on Tuesday morning, and most other major tokens also treaded water as market jitters persisted ahead of the key U.S. inflation data, scheduled for release on Thursday.
Bitcoin’s price edged 0.6% higher over the past 24 hours. On Stocktwits, retail sentiment around Bitcoin remained in ‘bearish’ territory over the past day. The apex cryptocurrency is nearly 10% below its recent record high of over $124,000. The apex altcoin, Ethereum (ETH), also showed a marginal uptick of 0.5% in the last 24 hours. Ethereum’s price was trading at around $4,350, with retail sentiment worse off than Bitcoin, trending in the ‘extremely bearish’ territory over the past day.
However, Cardano (ADA) led gains among major altcoins, followed by Dogecoin (DOGE). Cardano’s price rose around 3.5% in the last 24 hours, and Dogecoin’s price gained 2.9%. On Stocktwits, retail sentiment for Cardano was also in ‘bearish’ territory. However, retail sentiment around the meme token jumped to ‘bullish’ from ‘neutral’ a day ago, with chatter rising to ‘high’ from ‘normal’ levels. Ripple’s native token (XRP) climbed 1.9%, and Solana (SOL) was up 1.2%.
In a boost for institutional crypto adoption, Nasdaq (NDAQ) has reportedly struck a strategic partnership with Gemini, the crypto exchange founded by the Winklevoss twins, to tap its custody and staking services. The move follows Nasdaq’s filing with the SEC on Monday to enable tokenized stock trading on its platform. Gemini, meanwhile, is pressing ahead with its initial public offering (IPO), expected on Friday, seeking to raise up to $317 million. As part of the listing, Nasdaq is set to purchase $50 million in shares through a concurrent private placement, according to a Reuters report.
The overall cryptocurrency market increased by 1.1% over the last 24 hours, regaining the $4 trillion mark. Crypto futures bets saw around $330 million in liquidations over the past 24 hours, according to Coinglass data. Long liquidations totaled around $129 million, and short bets amounted to $200 million.
Digital asset treasury (DAT) equities also showed cautious optimism, edging higher in pre-market trade. The largest corporate holder of Bitcoin, Michael Saylor-backed Strategy (MSTR), rose around 0.6% and the largest publicly traded company with Ethereum on its balance sheet, Bitmine Immersive Technologies (BMNR), gained 3.45%.
Bitcoin miners like Marathon Holdings (MARA) and Riot Platforms (RIOT) also moved higher. MARA’s stock gained 1.18%, while RIOT’s stock rose 1.5%. Crypto exchange Coinbase (COIN) was up 0.9%.
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