Author: The Daily Hodl
Binance customers can now trade the brand new native altcoin of a permissionless interoperability protocol. The top global crypto exchange airdropped Hyperlane (HYPER) to qualified users this week and then listed the asset for trading on Tuesday. HYPER is the 15th project launched via Binance’s HODler Airdrops program, which rewards BNB holders with tokens based on historical snapshots of their balances. Hyperlane bills itself as an interoperability protocol for cross-chain communication across different blockchain environments. “Hyperlane is the first permissionless interoperability layer that allows smart contract developers to send arbitrary data between blockchains. Developers can use Hyperlane to move tokens, execute…
Crypto firm Galaxy Digital is executing an asset swap involving the native tokens of layer-1 blockchains Ethereum (ETH) and Solana (SOL), according to on-chain data. Data from blockchain tracking platform Lookonchain suggests that Galaxy Digital has, over the past two weeks, sold Ethereum worth tens of millions of dollars and purchased Solana. “In the past two weeks, Galaxy Digital deposited 65,600 ETH ($105.48 million) to Binance and withdrew 752,240 SOL ($98.37 million) from Binance.” Galaxy Digital’s portfolio reorganization is coming amid the firm’s head of research, Alex Thorn, predicting that the US will purchase Bitcoin (BTC) this year to add…
Former Goldman Sachs executive Raoul Pal believes that Bitcoin (BTC) will rally in the coming months on the back of a weakening US dollar. Pal tells his 1.1 million followers on the social media platform X that he thinks policymakers will methodically debase the US dollar to manage debt payments. According to Pal, the dollar debasement will trigger a surge in global money supply and benefit risk assets like Bitcoin and crypto. “Everyone needs and wants a weaker dollar to service their dollar debts. No one wants it to move too fast (it blows up value at risk), but they…
Vitalik Buterin will be stepping away from the day-to-day coordination of the Ethereum Foundation. Tomasz K. Stanczak, the co-executive director of the foundation, says recent changes in leadership will free up the ETH co-creator’s time “for research and exploration” rather than crisis response. “Each time Vitalik shares insights or communicates a direction, he accelerates major long-term breakthroughs. His recent posts on RISC-V and zkVMs have advanced promising avenues, while his writing on privacy has helped realign the community around the Ethereum Foundation’s core values. I want to make clear that Vitalik’s proposals will always carry weight, but they are intended…
A widely followed crypto analyst is warning that Bitcoin (BTC) is at risk of a sudden collapse. In a new post on the instant messaging app Telegram, pseudonymous crypto strategist Crypto Capo tells his 121,953 subscribers that Bitcoin may collapse by more than 34% of its current value. However, the analyst predicts that the flagship crypto asset will first head higher before a severe correction. “Shorting here makes no sense at all. I’ll be looking at the $94,000-$95,000 zone for potential shorts, but for now, the smart move is staying net long.” Looking at his chart, the trader says Bitcoin…
A crypto trader says a mid-cap altcoin flying under the radar looks primed to repeat Chainlink’s (LINK) blistering rally during the 2020 bull cycle. Pseudonymous analyst Inmortal tells his 231,800 followers on the social media platform X that he’s bullish on the native asset of the layer-2 scaling solution Mantle (MNT). According to Inmortal, MNT appears to be mirroring Chainlink’s consolidation from 2019 to 2020, which preceded LINK’s ascent from a low of $1.36 to a high of $53 – a whopping 3,797% explosion. “MNT gives me early LINK vibes. Many people think the bull market is over, but there…
The United Nations Office on Drugs and Crime (UNODC) is warning that organized crime syndicates are increasingly leveraging cryptocurrency and blockchain technology to fuel their operations. According to a new UNODC report, gangs in Southeast Asia are creating tailored financial ecosystems, including unlicensed exchanges and stablecoins, to evade detection and launder illicit money. “…Many of the region’s largest criminal groups that have expanded within Southeast Asia and a growing number of jurisdictions in other parts of the world have rapidly diversified their business lines towards the development of key infrastructure. This has extended far beyond the construction and management of…
Trump Media and Technology Group (TMTG) announced Tuesday a collaboration with Crypto.com to introduce a series of exchange-traded funds (ETFs) under its Truth.Fi brand. According to a new press release, the planned ETFs will focus on digital assets and securities, emphasizing a “Made in America” theme, marking TMTG’s entry into financial services. The company stated that regulatory approval is still required, and the ETFs are expected to debut later this year. Says TMTG CEO and Chairman Devin Nunes, “This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great…
The financial technology firm Revolut has reportedly refused to reimburse a customer who lost crypto assets due to an administrative error. BBC reports that Tzoni Raykov, a Bulgarian national, lost the funds after attempting to transfer $1,500 worth of the stablecoin USDC from a separate crypto wallet to his Revolut account. Raykov says he first sent $10 worth of USDC as a test and selected the Polygon POS (proof of stake) network to facilitate the transfer. The $10 transfer was successful. However, when Raykov subsequently sent $1,500 worth of USDC, he selected the “Polygon (bridged)” network. He says the method…
South Korean crypto exchange Upbit has announced a new listing for an altcoin on Sui (SUI), triggering explosive price action. According to a new announcement, Upbit is supporting DeepBook (DEEP) for trading over the Sui network on its platform starting Tuesday. The DeepBook project is a decentralized central limit order book (CLOB), which is what exchanges use to facilitate buying and selling between traders by recording bids and offers. Says the project, “Built as a permissionless central limit order book, DeepBook works as a neutral trading floor with a set of built-in mechanisms to enable DeFi (decentralized finance) on Sui.…