Coinbase working on prediction markets website, tech researcher says

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, allowing users to trade over 10,000 tokens directly within the Coinbase app. This rollout comes approximately six weeks after the platform's debut in the United States.

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, approximately six weeks after its debut in the United States. This new offering will allow Brazilian users to trade over 10,000 tokens directly within the Coinbase app, enhancing their trading experience.

Coinbase has launched its decentralized exchange (DEX) trading platform in Brazil, coinciding with new regulations from the country's central bank that require crypto firms to obtain licenses and report international transactions. This initiative aligns with Coinbase's vision of becoming an 'everything app' for cryptocurrency users.

CryptoQuant CEO Ki Young Ju has identified a realized price level of $56,000 for Bitcoin amid its current correction. He clarified that this figure should not be interpreted as a definitive bottom, emphasizing that market conditions and sentiment could lead to price fluctuations. Ju's analysis categorizes the market into futures, spot, and on-chain segments, noting a shift from futures whales to retail dominance in trading activity.

BlackRock has made substantial deposits of $616 million in Bitcoin and $200 million in Ethereum into Coinbase, signaling a growing institutional confidence in digital assets. This move may contribute to the stabilization of cryptocurrency markets amid ongoing volatility.

Bitcoin's price has recently struggled, leading analysts to predict a significant bear market. The cryptocurrency has lost $100,000 over four months and has not regained this level. Continued sell-offs by large investors, or whales, have added pressure, with one analyst estimating an 80% chance of a bear market. This situation reflects a broader trend of declining prices and market uncertainty.

Leaked screenshots indicate that Coinbase is developing a prediction markets platform utilizing Kalshi's regulated infrastructure. The images, shared by tech researcher Jane Manchun Wong, suggest that Coinbase is creating a dedicated website for this new service, which could enhance its offerings in the cryptocurrency sector.

Kraken, a US-based cryptocurrency exchange, has secured a $200 million investment from Citadel Securities, leading to a valuation of $20 billion. This investment is part of Kraken's growth strategy, with Citadel expressing commitment to collaborate on risk management and market structure analysis. This funding follows a previous round in September where Kraken raised $600 million at a $15 billion valuation.