Author: The Daily Hodl
A handful of crypto assets have been witnessing “exploding” whale activity amid an uptick in digital asset prices this week, according to the analytics firm Santiment. Santiment notes on the social media platform X that the smart contract platform Cardano (ADA), the memecoin Shiba Inu (SHIB) and the Internet of Things (IoT) project Jasmy (JASMY) all enjoyed price jumps in the past couple of days following spikes in whale interest. Explains the firm, “The amount of $100,000+ transactions on each of these networks have all more than doubled this week compared to usual 2024 averages, signaling accumulation.” The crypto trader…
Artificial intelligence (AI)-based digital asset Worldcoin (WLD) is claiming that nearly nine out of ten users in Spain, a country that banned it earlier this year, support the altcoin’s return. In a new blog post, Worldcoin – an eye-scanning, privacy-focused project founded by OpenAI CEO Sam Altman – says it has conducted a study of 21,000 Spanish users and found that about 90% of them support it coming back. “A new customer survey of more than 21,000 people in Spain, the first of its kind to give a voice to Worldcoin users, shows just how important digital proof of humanness…
Binance is adding the token of a Solana (SOL)-powered decentralized artificial intelligence (AI) computing network to the roster of supported crypto assets on its Launchpool platform. In a statement, the world’s largest crypto exchange says that io.net (IO) will be the 55th crypto project on Binance Launchpool, which allows users to deposit their coins into a pool of funds to earn assets from new projects. Binance says users will be able to stake BNB and the stablecoin First Digital USD (FDUSD) into separate pools to farm IO tokens over four days starting on June 7th. IO will then be listed…
A widely followed crypto analyst says one meme asset that has seen tremendous gains over the last eight months will continue its upward momentum. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 217,000 followers on the social media platform X that memecoin MAGA (TRUMP) will go “berserk” even though it experienced a slight pullback. “TRUMP: this is still one of my bags and this is pulled back to the .50 [fibonacci level], I think I’m going to add to my position around here. Still bullish with this overall narrative going into [the] election and TRUMP will…
The chief executive of crypto investment firm Galaxy Digital says that Bitcoin (BTC) could hit six figures this year if one key event occurs soon. In a new interview with Bloomberg Television, Mike Novogratz says that if Bitcoin flips the $73,000 level into support he expects the king crypto to reach $100,000 before the end of 2024. “If we take out the $73,000 in the next week or so we’re going to end the year at $100,000, somewhere around there or even higher. Markets create ranges. When the top of the range breaks, you have a nice extension. And so…
Despite some bullish developments, the digital asset market still lacks one key ingredient that’s critical to fueling a sustained price rally, according to the analytics firm CryptoQuant. CryptoQuant notes that demand is up for Bitcoin (BTC) and Ethereum (ETH). “Bitcoin demand growth in permanent holders added 70,000 Bitcoin in the last 30 days. Large investors’ demand is up 4.4% monthly. Additionally, large investors are injecting $1 billion daily into Bitcoin, resembling 2020’s pre-rally activity… Ethereum’s demand has also increased. Post-May 20th, ETH demand spiked due to spot ETH ETF approvals in the USA. Daily purchases by permanent holders rose to…
Wrestling legend Hulk Hogan says that posts made to his account promoting the Solana (SOL)-based memecoin HULK yesterday were not from him. HULK investors are reeling today after the celebrity memecoin based on Hulk Hogan’s likeness pumped to an over $17 million market cap yesterday before crashing to its current market cap of roughly $8,000, according to CoinGecko. According to Mashable crypto reporter Matt Binder, Hogan’s X account promoted the HULK memecoin through several posts yesterday. During that time, the token pumped to a multi-million dollar market cap before crashing down to earth. Hogan later claimed the posts were not…
One of the world’s largest and oldest crypto exchanges is reportedly contemplating a final funding round before possibly going public. Citing people familiar with the matter, Bloomberg reports that San Francisco-based Kraken is mulling conducting a pre-initial public offering (IPO) round after receiving inquiries from potential investors. The fundraising, which will likely aim to raise more than $100 million, may be completed by the year-end, according to the sources. Bloomberg says the exchange is looking for a “marquee” company to join its board and help it kick off a successful IPO by as early as next year. The sources say…
Closely followed crypto strategist and trader Michaël van de Poppe is naming his top altcoin picks for the current cycle. In a new strategy video, Van de Poppe tells his 165,000 YouTube subscribers that Bitcoin (BTC) investors are likely to start funneling their profits into altcoins, sending alt projects much higher. “Altcoins are going to do really well. They are likely going to do that. They have been suffering a lot in the past period because of the Bitcoin exchange-traded funds, but I think that the rotation is going to be very close towards an upside for altcoins.” The trader…
A closely followed crypto analyst believes that one Ethereum (ETH) rival is gearing up for a massive gain. Pseudonymous trader Kaleo tells his 641,800 followers on the social media platform X that Avalanche (AVAX) may be about to mirror a 2021 bullish pattern against Bitcoin (BTC). “AVAX/BTC: I still wouldn’t sleep on Avalanche here. Chart looks like it’s at a spot similar to where it was in July of 2021. Big gains to start the year, followed by months of bleeding out before it started to rip. Quiet before the storm.” Looking at his chart, the trader suggests that AVAX/BTC…