Author: The Daily Hodl
A closely followed crypto analyst believes that one red-hot Dogecoin (DOGE) rival is gearing up for more massive gains. Pseudonymous trader Kaleo tells his 641,600 followers on the social media platform X that Floki (FLOKI)’s market cap could soar to at least $10 billion, more than 3x the current value. The analyst says Floki could head much after forming a cup-and-handle pattern, a bullish technical indicator. “Don’t need a fancy chart here. Just look at FLOKI zoomed out. Retesting its 2021 all-time high. Clean high time frame cup and handle. BNB is on the verge of price discovery. Memecoin super…
A widely followed cryptocurrency analyst and trader believes that a top-10 altcoin by market cap is destined to rally by double-digit percentage points from the current level. The analyst pseudonymously known as Bluntz tells his 260,900 followers on the social media platform X that BNB, the utility token for the BNB Chain ecosystem, is set to reach a price of at least $1,000. “There’s no way BNB doesn’t get a four-digit handle this cycle.” Based on Bluntz’s chart of BNB on the weekly timeframe, it appears that the pseudonymous analyst who sometimes employs the Elliott Wave theory in his technical…
A widely followed crypto analyst believes one top-10 altcoin by market capitalization could soon hit new all-time highs (ATHs). Pseudonymous crypto trader Altcoin Sherpa tells his 216,700 followers on the social media platform X that BNB, the native token of the BNB Chain, continues to have a strong market structure. “BNB: slow and steady wins the race. This thing goes to ATH shortly. Wish I still had a bag of it, sold it during the bear market. Hard times then.” Looking at his daily chart, the trader suggests that BNB is about to flip the upper bound of a trading…
Coinbase, the largest crypto exchange in the US, has announced the launch of its new smart wallet platform. In a blog post, Coinbase says the launch will kick off the next chapter in the firm’s Coinbase Wallet product by “revolutionizing the on-chain experience” by getting rid of network fees and recovery phrases. Says Coinbase, “Smart wallets offer a streamlined, gasless on-chain experience. This simplicity, combined with multi-chain support and integration with major applications, will make onboarding to the blockchain as effortless as signing into your favorite website. Until now, going on-chain has been slow, expensive, and hard, with separate wallet…
Ethereum’s (ETH) complexity brings Solana’s (SOL) mission into focus, according to Anatoly Yakovenko. The Solana co-founder says in a new interview on Bankless that his mission is simply building a hyperfast chain. [1:49:29] “Yeah, network effects, TVL (total value locked), all these things could matter, but it’s not hard. It’s not something that I can bet my work on, that I would want to bet my career on. I want to build stuff that I know is going to work. So from my perspective, the more L2s (layer-2s) and networks and different environments there are for digital assets the better,…
The Chair of the U.S. Securities and Exchange Commission (SEC) says that crypto exchanges are doing what the New York Stock Exchange (NYSE) would never be allowed to do. In a new interview on CNBC’s Squawk Box, SEC Chair Gary Gensler says that crypto exchange platforms are not giving investors the proper disclosures required by the law and could be trading against consumers. “Right now, without prejudging anyone, these tokens have not given you the disclosures that you not only need to make your investment decisions but also that are required by the law. It’s a basic concept in our…
A deep-pocketed entity who made $120 million on Shiba Inu (SHIB) is suddenly accumulating the memecoin again, according to on-chain data. The blockchain tracking firm Lookonchain reports that “a SHIB super big winner” just spent 4,849 Ethereum (ETH), worth $18.44 million at the time, to buy 715.9 billion SHIB. Says Lookonchain, “This guy spent only ~$400K to buy 5.5 trillion SHIB in the early stage and sold for ~$121 million at two peaks. He made more than $120 million on SHIB before, an amazing gain!” The crypto tracker also noticed nine other wallets belonging to two entities making massive SHIB…
Ethereum (ETH) Vitalik Buterin is calling out the celebrity memecoin trend, saying that digital assets need other use cases than simply enriching founders and early adopters. In a new thread on the social media platform X, Vitalik Buterin tells his 5.3 million followers that he’s unhappy with this cycle’s trend of celebrities experimenting with meme assets. Buterin references Stoner Cats – a non-fungible token (NFT) collection backed by actors Ashton Kutcher and Mila Kunis – saying that the project at least had a semblance of a real-world use case. “I’m feeling quite unhappy about ‘this cycle’s celebrity experimentation’ so far. ‘Financialization…
A popular crypto strategist and trader says that digital assets are gearing up for the second leg of the bull market. Pseudonymous analyst Inmortal tells his 214,000 followers on the social media platform X that the Federal Reserve will likely signal the start of the next big rallies for crypto. “Before you know it, everything will go up again. Also, before you know it the cycle will be over. The first rate cut will be the trigger for round two of the bull run. Don’t be sad, be ready. Generational wealth will be made in the coming months.” One blue-chip…
A handful of Bitcoin miner addresses that have been dormant for more than 10 years suddenly transferred more than $7 million worth of BTC, according to on-chain data. The crypto tracker Lookonchain reports that four miner addresses each earned 25 BTC through mining in 2013. After remaining dormant for 11 years, the miners transferred the combined 100 BTC out this week after the top crypto asset crossed $70,000 in price. BTC is trading at $71,079 at time of writing and is up more than 2% in the past 24 hours. Lookonchain also notes that a new Coinbase-funded wallet gobbled up…