Author: The Daily Hodl
Chainlink (LINK) co-creator Sergey Nazarov says this could be the year that sees a great merger between blockchain and the traditional global financial system. In a speech at the Consensus 2024 conference, Nazarov says the market for on-chain assets is more than $100 trillion. The Chainlink co-creator shares a chart showing that the $2.7 trillion debt market and the $106 trillion stock market can move into the blockchain. The chart also shows that other assets such as global real estate and derivatives can be tokenized. Nazarov says that eventually, all financial transactions will take place on-chain, and that 2024 is…
Billionaire venture capitalist Chamath Palihapitiya says it would be a smart move for some countries to use Bitcoin (BTC) alongside their local currency. In a new installment of the All-In Podcast, Palihapitiya says he recently spoke with Wences Casares – a Silicon Valley entrepreneur who introduced him to Bitcoin in 2010 when BTC was trading at around $80. Palihapitiya says Casares explained a “powerful concept” that maps out a path for the mass adoption of BTC. “When I talked to Wences about this, how he explained it, which makes a lot of sense to me is there are a lot…
A closely followed crypto strategist says Bitcoin (BTC) just flashed a signal last seen before the dramatic rallies of the 2017 bull market cycle. Pseudonymous analyst TechDev tells his 452,600 followers on the social media platform X that the Bitcoin versus M1 money supply chart just breached the resistance of the exponential moving average Bollinger Bands on the monthly chart. According to TechDev, the same thing happened in the first months of 2017 before Bitcoin printed gains of more than 2,600% in less than a year. “You’re looking at the first breakout of Bitcoin against M1 money supply since March…
Uniswap’s native asset UNI tumbled by about 9% on Friday after the decentralized exchange (DEX) announced that it had decided to punt on an important protocol upgrade. The DEX had planned on initiating an on-chain vote on Friday to implement a proposal that would have enabled a fee mechanism to reward UNI token holders who have staked and delegated their tokens. The upgrade aimed to reduce the burden on Uniswap Governance and to maintain the protocol’s “credible neutrality.” In the past week, however, a stakeholder raised “a new issue relating to this work that requires additional diligence,” according to the…
New data from crypto analytics platform Santiment reveals that a layer-1 Ethereum (ETH) competitor is leading the industry in terms of development activity. In a new post on the social media platform X, Santiment says that decentralized app protocol Hedera (HBAR) is leading the crypto space in development activity over the last 30 days, overtaking smart contract platform Cardano (ADA) and layer-2 scaling solution Optimism (OP). Other notable digital assets on the top 10 list of digital assets with the most development activity include layer-2 scaling solution Polkadot (DOT) and its sister blockchain Kusama (KSM), oracle provider Chainlink (LINK), and…
Ripple chief executive Brad Garlinghouse doesn’t think that the leading meme token Dogecoin (DOGE) helps crypto. While speaking at Consensus, Garlinghouse laments that the United States “represents the bottom decile of regulatory clarity” for digital assets and acknowledges that it’s difficult to predict when institutional money will provide upside opportunity for the crypto sector. The Ripple CEO says the path forward for crypto has to be centered on solving real problems. “We have to be about more than speculation. I get a ton of shit when I say these things, but I’m going to say it anyway. I don’t think…
The Japanese crypto exchange DMM Bitcoin announced on Friday that it had been hacked for more than $300 million worth of BTC. The exchange said it lost 4502.9 BTC ($305 million) in what the crypto investigative firm Chainalysis called “the seventh-largest crypto hack ever.” DMM Bitcoin announced the hack on Friday morning and promised it would replace customers’ stolen Bitcoin, though the exchange’s website appeared to be down by Friday evening. The blockchain security firm Beosin says the stolen funds have been distributed to 10 addresses so far and were likely stolen in one of two ways. “1. A traditional…
A widely followed crypto analyst believes two memecoins have massive upside potential in the coming months. Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform X that he is bullish on both Pepe (PEPE) and PepeCoin (PEPECOIN). However, he warns the memecoins may first retest lower levels. “Both of these probably pullback in the short term but I’m still of the belief that they will both be much higher in the coming months. I have both.” Looking at the trader’s daily chart, he suggests Pepe could retest the support level at $0.00001084. Pepe is trading…
A closely followed trader is claiming that no new retail investors are joining the crypto market, but he believes one event could attract the newbies. Pseudonymous trader The Flow Horse tells his 217,800 followers on the social media platform X that it will likely take Bitcoin (BTC) hitting six figures before new retail investors start entering the crypto market. “No new retail investors are entering the market, despite the memecoin frenzy, which represents only a fraction of total market volumes and is more of a buzz on crypto Twitter than a significant trend. For new retail investors to come, we…
The host of the Coin Bureau channel, Guy Turner, is offering his price projections for Solana (SOL) competitor Sui (SUI). Turner tells the 2.48 million subscribers of the Coin Bureau YouTube channel that Sui possesses “serious potential” over the long term. On the reasons for his bullish thesis, the Coin Bureau host says, “[Sui] meets the criteria of a crypto that retail could ape into. It has a low price tag, which gives the illusion of large gains. It has a lower market cap than most large-cap cryptos, which means that it takes less money to move its price. And…