Author: The Daily Hodl

Macro guru Lyn Alden thinks that Bitcoin’s (BTC) ascent to prominence en route to becoming a giant asset class will take more than 10 years. Speaking at an event organized by the What Bitcoin Did podcast, Alden says people tend to think that technologies like Bitcoin will immediately disrupt the incumbent system. However, Alden highlights that change happens over a long arc of time and that people are underestimating the potential impact of Bitcoin on the financial system. “It’s not a one-year, three-year, five-year story. It’s not even a 10-year story. That’s a multi-decade story. With technologies, people often overestimate…

Crypto analytics firm Santiment thinks that Ethereum (ETH) and altcoins related to the top smart contract platform will leave many traders on the sidelines. Santiment says it is keeping a close eye on Ethereum’s average transaction fee, which nosedived to its lowest level since October 18th, 2023. According to the analytics firm, the slumping gas fee is a solid signal that Ethereum is in the midst of carving a local bottom. “Ethereum’s average fee level has dipped to just $1.12 per network transaction, the lowest average cost in a day since October 18th. Traders historically move between sentimental cycles of…

The cloud division of one of the biggest companies in tech is teaming up with blockchain project Sui (SUI) to help build a more user-friendly, safer and smarter Web3. In a new announcement, Google Cloud says it is partnering with Sui to focus on improving Web3 security, scalability, developer tools and user experience through artificial intelligence (AI) technology. The collaboration is made possible by a partnership with Mysten Labs, the developers of Sui. Says Evan Cheng, CEO and co-founder of Mysten Labs, “Collaborating with Google Cloud helps us propel the development of secure, scalable, and user-centric Web3 experiences. Google Cloud’s infrastructure and cutting-edge AI capabilities complement Sui’s unique technological…

Abra cofounder and CEO Bill Barhydt is predicting a $50 trillion digital asset market capitalization within a decade due to one main catalyst. In a new interview with Anthony Pompliano, the head of the crypto wealth management platform says that the tokenization of real-world assets (RWAs) has the potential to send the crypto market cap soaring by more than 1,900% of the current value. “I do think you’re going to see real-world assets become tokenized, especially starting outside the US, and you’re going to have all these investment services that basically make them all fungible, meaning I can hold real…

Cryptocurrency analyst and trader Ali Martinez is saying that blockchain oracle Chainlink (LINK) possesses upside potential based on the readings of one indicator. Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is “flashing” a bullish signal for LINK on the 12-hour chart. The TD Sequential indicator is a technical analysis tool used to identify potential price reversal points that typically follow the exhaustion of a trend. According to Martinez, LINK could go up by around 12% from the current level if a key support area holds. “If LINK stays above…

The leading US-based crypto exchange by trading volume is adding support for Bitcoin (BTC) payments platform Lightning Network. In a new announcement, Coinbase says it is giving users a choice in how to send BTC payments by integrating the Lightning Network. “Starting today, Coinbase is rolling out support for the Lightning Network enabling instant, low-cost Bitcoin transfers. Users will have the option to choose between using Lightning for faster and cheaper Bitcoin transactions or processing their transactions on the traditional Bitcoin network.  This integration furthers our mission to build a one-second, one-cent global payments system that provides affordable access to everyday financial tools.” Compared to credit card fees and…

Crypto markets have shed nearly $200 billion off their market cap in the last 24 hours as some of the industry’s biggest players appear keen to unload their coins. According to crypto “de-anonymizing” platform Arkham, digital assets manager Grayscale has sent nearly a quarter of a billion dollars worth of Bitcoin (BTC) to Coinbase, potentially to sell on the open market. Arkham’s data shows Grayscale sending BTC to Coinbase Prime or addresses associated with Coinbase mostly in batches of $42.84 million. According to Arkham, Grayscale also deposited considerable amounts of altcoins, including Ethereum (ETH), Avalanche (AVAX), Polygon (MATIC), Lido (LDO),…

Former Goldman Sachs executive Raoul Pal believes two digital asset subsectors could witness absurd valuations when the market hits crypto summer. Pal tells his one million followers on the social media platform X that during the “crypto summer” phase of the current market cycle, altcoin projects related to artificial intelligence (AI) and tokenized real-world assets (RWA) could go parabolic. A “crypto summer” generally means increased prices and higher trading volume. Says Pal, “But Crypto Summer and Fall will be confusing because everything will have a narrative and will get caught up in euphoria. This is when memes really get silly…

Two wallets inked staggering 30,830x gains on a memecoin built on the Ethereum (ETH) layer-2 scaling solution Base, according to the crypto tracker Lookonchain. Lookonchain notes that two wallets whitelisted by the deployer for the meme asset Brett (BRETT) spent 0.034 ETH worth $102 to buy a combined 172.56 million BRETT in February. Those wallets subsequently sold 122.74 million BRETT for 890.65 ETH worth $3.14 million on-chain via multiple wallets, printing staggering gains to the tune of 30,830x. Whitelisted wallets are approved participants for a specific crypto event like an initial coin offering (ICO), according to Coinbase. The pseudonymous crypto…

A widely followed crypto analyst believes that Ethereum (ETH) and other altcoins are on the verge of a major market correction. In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that Ethereum against Bitcoin (ETH/BTC) may be making one final move to the upside before a market capitulation. “In order for confirmation of [bullishness], you would need to see ETH/Bitcoin get above its bull market support band and then start holding it as support. And if you don’t see that, then I still think it’s just going to be yet another lower high that everyone…