Author: The Daily Hodl
The head of a prominent crypto investment management firm foresees one “non-obvious” way in which tokenization, the process of converting traditional assets to tokens on blockchain, will impact markets. In a new post on the social media platform X, Bitwise CEO Hunter Horsley lays out how he sees tokenization upending traditional stock and equities markets. “With tokenization, people have focused on the demand side: democratize access to money market funds by tokenizing them! There’s value there, but I think the demand side is potentially not the revolutionary story. I think the revolution is the supply side.” According to Horsley, the…
Non-custodial crypto wallet Phantom just issued a statement denying rumors that it will have a token airdrop. Last month, Phantom announced that it would be making the wallet more social by enabling users to customize their profile and search for and follow friends. In a post on social media platform X, the popular wallet with about seven million monthly active users says the rollout of the social discovery feature will not involve a token airdrop, and that it’s not looking to issue its own coin. Phantom issues the statement amid rumors that users will receive tokens for following other accounts…
Coinbase’s chief legal officer Paul Grewal says that unredacted letters show that the Federal Deposit Insurance Corporation (FDIC) was attempting to sabotage a wide variety of activity in the crypto industry. Grewal previously said that Coinbase’s Freedom of Information Act (FOIA) requests uncovered instances where the FDIC asked banks to freeze crypto services Said Grewal at the time, “The letters that show Operation Chokepoint 2.0 wasn’t just some crypto conspiracy theory. FDIC is still hiding behind way overbroad redactions. And they still haven’t produced more than a fraction of them.” Grewal now says on the social media platform X that after…
Real Vision CEO and former Goldman Sachs executive Raoul Pal says one Solana (SOL) rival is about to enter “hyperspace” after cracking a critical resistance. Pal tells his 1.1 million followers on the social media platform X that layer one blockchain Sui (SUI) is set for breakout rallies after shattering through its all-time high near the $5 level. “SUI pressing its nose against the ceiling… after this, it should go into hyperspace.” Since Pal’s post, SUI has rallied and is trading at $5.28 at time of writing. Looking at Solana, the investor says he’s also bullish on SOL. He shares…
A closely followed crypto analyst says payments-focused altcoin XRP is potentially forming a bullish technical pattern that could lead to an exponential breakout. Ali Martinez tells his 108,000 followers on the social media platform X that XRP is trading within a large bull pennant – a bullish continuation pattern where a period of consolidation is often followed by a breakout “XRP is still consolidating within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 remains possible before a potential breakout to $11!” Using Fibonacci extensions, Martinez appears to forecast that XRP…
Macro guru Luke Gromen thinks it would serve America’s best interest if President-elect Donald Trump delays signing an executive order to establish a Bitcoin (BTC) reserve. In a new interview with venture capitalist Preston Pysh, Gromen says it wouldn’t make sense for Trump to announce plans to accumulate Bitcoin right after being sworn into office. According to Gromen, investors would likely jump in to front-run the US government, sending Bitcoin higher before it has a chance to establish a position. Instead, the macro guru says it would be better for Trump to accumulate BTC behind the scenes while expressing his…
A crypto strategist and trader is laying out his predictions for the digital asset market for the first few months of the year, including his Q1 outlook for Ethereum (ETH). The analyst pseudonymously known as Inmortal tells his 222,400 followers on the social media platform X that he thinks Ethereum is gearing up for rallies this quarter. The trader believes that ETH is about to follow in the footsteps of its Q1 2024 price action. “ETH about to have a good Q1.”‘ Looking at the trader’s chart, he seems to predict that ETH will hit a new all-time high of…
Rich Dad Poor Dad author Robert Kiyosaki says Bitcoin (BTC) and precious metals are set to explode on the back of rampant central bank money printing. Kiyosaki tells his 2.6 million followers on the social media platform X that a “giant” market crash has arrived that will force the financial system to create more money, widening the gap between the rich and the poor while boosting the prices of gold, silver and BTC. “GIANT MARKET CRASH here. Q: How can I be so bullish on gold, silver, and Bitcoin?A: Because the idiots running the Fed, Treasury, Banks, and Wall Street…
Enterprise software firm MicroStrategy is announcing a $2 billion fundraising plan to purchase more Bitcoin (BTC). In a new company press release, MicroStrategy says it’s looking to accumulate more of the top crypto asset by market cap in 2025 to strengthen its position in the market. However, the firm says its planned capital raise slated for the first three months of the year may or may not go ahead depending on market conditions. “The purpose of the offering is to allow MicroStrategy to continue to strengthen its balance sheet and acquire more Bitcoin. The offering is expected to occur, if…
French Billionaire Bernard Arnault’s net worth shrunk by over $53 billion in 2024 after a major correction in his stock portfolio. Arnault is the chairman and 48% owner of LVMH Moet Hennessy Louis Vuitton, the world’s largest manufacturer of luxury goods, which produces products like TAG Heuer watches and Dom Perignon champagne. According to Bloomberg’s Billionaire Index, Arnault’s net worth dropped from $231 billion to $178 billion between April and the end of 2024 – a $53 billion drop. The dip in Arnault’s net worth coincided with a nearly 40% shakeout in LVMH shares. When zooming out, Arnault’s net worth…