Author: The Daily Hodl

The crypto project backed by BitMEX founder Arthur Hayes wants to explore a potential market for financial services on the messaging platform Telegram. In a statement, Ethena Labs says it’s mulling building a Telegram-based savings and payment application this year as it sees a $50 billion market for its synthetic dollar USDE. “Rather than compete directly with payments companies on their own turf, we plan to address the payments and savings tool use case via building a dedicated application on Telegram and within the TON ecosystem.” The tool will leverage USDe, a stablecoin that aims to maintain its US dollar…

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A closely followed analyst believes that crypto is gearing up to witness the highly anticipated altcoin season as the market gives off a reading seen only twice in eight years. Pseudonymous analyst TechDev tells his 493,800 followers on the social media platform X that altcoins are poised to outperform Bitcoin (BTC) based on historical data. The crypto strategist shares a chart to show that in 2017 and 2021, altseason happened when Bitcoin printed a new six-month candle after surpassing the cycle’s all-time high. “This has been the candle that altcoins make the moves many wait four years for.” Looking at…

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A closely followed crypto analyst says that smart contract platform Solana (SOL) is potentially forming a bullish technical pattern that could see it surge by over 1,700%. In a new strategy session, crypto trader Ali Martinez tells his 108,000 followers on the social media platform X that it’s possible the Ethereum (ETH) rival is forming a cup-and-handle pattern that could push it to astronomical levels. “There’s a chance SOL is forming a cup-and-handle pattern, and it will reach $4,000!” A cup and handle is typically observed when the price movement of an asset forms a “cup” pattern before printing a…

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A crypto veteran believes Bitcoin (BTC) and the rest of the digital asset market will remain listless in the first few weeks of 2025. Pseudonymous trader The Crypto Dog tells his 853,00 followers on the social media platform X that he thinks the market will not regain bullish momentum until President-elect Donald Trump is sworn into office. The analyst believes that Trump’s inauguration on January 20th will act as a strong catalyst that sends Bitcoin and altcoins to greater heights. “The inauguration likely acts just the same as election day – it’s going to pin us down until it’s over.…

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A closely followed crypto analyst says that smart contract platform Cardano (ADA) could see massive gains in the coming weeks. In a new strategy session, crypto trader Ali Martinez tells his 107,500 followers on the social media platform X that if the Ethereum (ETH) rival continues following the same pattern it did last cycle, it could surge by a staggering 266%. “ADA is shaping up like it did last cycle, making me think a big move is near. A push to $4 might happen within a few weeks! ADA is trading for $1.09 at time of writing, a 13.5% gain…

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Digital asset investment manager Bitwise is unveiling its predictions for cryptocurrencies and the industry in 2025. Starting with Solana (SOL), Bitwise’s head of research Ryan Rasmussen says the asset manager is predicting that the Ethereum (ETH) rival will skyrocket by 250% and hit a price of $750 this year. Solana is trading at $214 at time of writing, around 18% below the all-time high price of $263 reached in November of 2024. On Bitcoin (BTC), Bitwise predicts that the crypto king will surge by 106% from the current level to reach a price of $200,000 in 2025. Ethereum, according to…

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The world’s largest centralized crypto exchange by volume has received a broker-dealer license in Brazil via an acquisition. Binance says the Central Bank of Brazil has granted the crypto exchange approval to acquire financial services firm Sim;paul, a licensed broker-dealer in the world’s eighth-largest economy. “By receiving full approval for the takeover of Sim;paul – a licensed broker-dealer authorized to distribute securities and to issue electronic money (EMI) by the Central Bank of Brazil, Binance, which was already operating in compliance with the regulatory requirements in the country as a global exchange, can be more efficient in complying with the…

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New data reveals that asset management titan BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) saw a record number of outflows earlier this week. According to data from blockchain tracker SoSoValue, BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw a staggering $332.6 million worth of outflows on January 2nd, its largest day of outflows on record. The data also shows that other spot market BTC ETFs were mostly in the green as Fidelity’s FBTC, Arkham’s ARKB and Bitwise’s BITB all posted inflows of $36.2 million, $16.5 million, and $48.3 million respectively. Another notable ETF that posted outflows was Grayscale’s GBTC, coming in…

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Cryptocurrency analyst and trader Michaël van de Poppe believes the altcoin market correction may come to an end just weeks into 2025. In a new video update, Van de Poppe tells his 169,000 YouTube subscribers that he expects the TOTAL3 chart to soon witness a bullish reversal on the weekly chart. The TOTAL3 chart tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins. “When you look at the altcoin markets in the sense that you’re looking at the TOTAL3, for instance, which is the altcoin market cap in USDT valuation, then at this point…

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A widely followed crypto trader is issuing a warning on two artificial intelligence (AI)-based altcoins, saying that history shows a 50% drop would be the best-case scenario for them. In a new thread on the social media platform X, pseudonymous crypto analyst Altcoin Sherpa tells his 237,500 followers on the social media platform X that AI-focused projects ai16z (AI16z) and Zerebro (ZEREBRO) being listed on Binance futures is likely a sell-on-news event. According to Sherpa, recent history shows that when assets are listed on Binance futures, they tend to see sharp decreases in price. The trader cites memecoins Fartcoin (FARTCOIN),…

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