Author: The Daily Hodl
Ethereum (ETH) competitor Cardano (ADA) is currently sitting in a “key demand zone,” says crypto analyst Ali Martinez. Martinez tells his 33,800 followers on the social media platform X that 166,470 wallets acquired 4.88 billion ADA worth more than $1.85 billion while the asset has been trading between $0.37-0.38. “With minimal resistance ahead and solid support below, remaining above this zone could pave the way for ADA to climb to new yearly highs. Still, watch out, as losing this support level could trigger a brief correction to $0.34.” Martinez also notes that the Tom DeMark (TD) Sequential indicator presented a…
Billionaire and Block co-founder Jack Dorsey is leading a new funding round that aims to decentralize the mining ecosystem of Bitcoin (BTC). According to a new press release, Dorsey has led a $6.2 million seed funding round to support the launch of Mummolin’s decentralized BTC mining protocol OCEAN. “Mummolin, Inc., announced today that it has raised $6.2 million in seed funding, led by Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, the Bitcoin Opportunity Fund, and other strategic partners. The seed funding will support the launch of OCEAN, the first of many mining decentralization projects for Bitcoin.” According to…
A closely followed crypto strategist believes that four altcoins including Solana (SOL), Chainlink (LINK) and Avalanche (AVAX) will witness a bearish December. Pseudonymous analyst Altcoin Sherpa tells his 198,900 followers on the social media platform X that he thinks SOL, LINK and AVAX will likely give up some of their gains before the next leg up. According to the trader, he expects the three coins to drop to their respective 0.382 Fibonacci levels where they could potentially form a strong base to set the stage for rallies at the start of 2024. “Many 0.382 Fibonacci levels + 200 exponential moving…
A crypto analyst with a large following says that Bitcoin has printed its “parabolic signal” that suggests BTC is in the early innings of a strong bull market. Pseudonymous crypto analyst TechDev tells his 422,000 followers on the social media platform X that in terms of market liquidity, Bitcoin reached its bottom more than a year ago. TechDev attempts to depict cyclical patterns of dollar liquidity by pinning the US dollar index (DXY) against the Chinese 10-year bond, which appears to coincide with Bitcoin’s market cycles. “As far as liquidity is concerned, the cycle bottomed over a year ago. This…
A crypto whale is drawing attention for accumulating a massive amount of Ethereum (ETH) within the last couple of months. According to blockchain tracking service Lookonchain, a deep-pocketed investor has amassed 31,149 ETH worth about $54,900,000 since September. Lookonchain says that this week, the whale purchased 4,865 additional ETH while the leading smart contract platform was trading at around $2,056. “A giant whale spent 10 million USDC to buy 4,865 ETH at $2,056 … This whale has bought a total of 31,149 ETH ($54.9 million) at ~$1,763 from Binance and DEX (decentralized exchange) since September 19th. At the current price,…
The head of Singapore’s central bank doesn’t think crypto has a future in financial services. Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), said in a speech earlier this month that cryptocurrencies have “failed the test of digital money.” “They have performed poorly as a medium of exchange or store of value. Their prices are subject to sharp speculative swings. Many investors in cryptocurrencies have suffered significant losses.” During a panel discussion this week, Menon says he thinks crypto assets “will eventually leave the scene,” according to a Bloomberg report. “Nobody keeps their life savings in these…
ARK Invest founder and CEO Cathie Wood is selling off tens of thousands of shares in the top US crypto exchange Coinbase (COIN). According to the latest reported sales by Ark Invest, ARK sold 43,956 shares of Coinbase on Monday as COIN soared to $120. COIN was trading for $128.27 at market close on Tuesday, its highest closing price since April 2022. While ARK sold Coinbase shares, the Ark Fintech Innovation ETF added to its holdings of trading platform Robinhood with a purchase of 143,063 additional shares worth about $1.2 million at the time. Robinhood (HOOD) was trading Tuesday at…
A closely followed analyst believes that December will be a bullish month for Bitcoin (BTC) as the crypto king mirrors a setup last witnessed exactly three years ago. Kevin Svenson tells his 131,000 followers on the social media platform X that Bitcoin appears to be mimicking its late 2020 price action when BTC was consolidating around $14,000 before a massive move to the upside. The trader shares two charts that show BTC’s latest market structure and relative strength index (RSI) level appear to be “strikingly similar” to its Q4 2020 setup. The RSI is a momentum indicator that can signal…
New data indicates a handful of crypto whales moved more than $443 million worth of Bitcoin (BTC) and Ethereum (ETH) in just 24 hours earlier this week. The largest single transaction involved an unknown wallet sending 2,554 BTC worth more than $95.6 million to the crypto exchange Coinbase, according to the crypto-surveying platform Whale Alert. Per Whale Alert, other large BTC transactions included: Bitcoin is trading at $37,665 at time of writing. Notable Ethereum transactions included: Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Generated Image: DALLE3 Read the full article here
Rich Dad Poor Dad author Robert Kiyosaki is warning that hyperinflation may soon be coming and time is running out to get into Bitcoin (BTC), gold and silver as a hedge. The best-selling finance author tells his 2.4 million followers on the social media platform X that the US dollar is losing value. “Great news: gold reaches new high. Bad news: workers and savers are losers. Bad News: been saying the same for 25 years. Don’t be a loser. Get out of FAKE money system. Get into gold, silver, Bitcoin now before it’s too late.” He believes that under hyperinflation…