Author: The Daily Hodl

An altcoin in the Sui (SUI) ecosystem is skyrocketing after suddenly gaining support from Binance. In a new announcement, the world’s largest crypto exchange platform by volume says that it will be adding trading support for Cetus (CETUS), a decentralized exchange (DEX) and concentrated liquidity protocol on the Sui blockchain. According to Binance, CETUS opens up for spot trading as well as futures contracts in the USDT trading pair on Wednesday, while withdrawals are permitted starting Thursday. News of the listing sent CETUS, the project’s native asset, flying. CETUS shot up to a high of $0.341 Tuesday, up from Monday’s…

Bitcoin is soaring on optimism that President-elect Trump will follow through on his promise to support Bitcoin and the crypto industry at large. Republicans have won control of the Senate, with the House still up for grabs. And as the future balance of power comes into focus, Wyoming Republican Senator Cynthia Lummis is promising the US will hold BTC as a strategic reserve asset. On the campaign trail, Trump promised that under his administration, the US would stop selling seized Bitcoin on the open market, and instead strategically hold the asset as an investment. The President-elect also promised to fire…

A crypto custody business that’s majority-owned by the world’s 44th-largest bank is reportedly planning to raise more capital. Bloomberg reports that Zodia Custody Ltd, a subsidiary of Standard Chartered, is in talks to secure approximately $50 million in funding from investors. According to Zodia Custody chief executive Julian Sawyer, the capital raise will help fund the expansion of the business into new countries and territories while widening the product range. Zodia Custody currently serves 15 jurisdictions and has offices in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian supports over 50 crypto assets and this…

Veteran trader Peter Brandt says that Bitcoin (BTC) is set to vastly outperform gold after printing a bullish pattern on the longer-term chart. Brandt shares a chart with his 745,000 followers on the social media platform X showing Bitcoin in a clear uptrend when priced in gold (BTC/XAU). According to Brandt, BTC/XAU has printed a three-year-long inverse head and shoulders (H&S), with the final part of the pattern – the right shoulder – playing out now. An inverse H&S suggests that demand for an asset is rising without the price having to revisit the lows. “Bitcoin or Gold – which…

The stablecoin issuer Paxos partnered with the crypto exchange Kraken, the retail trading giant Robinhood and a handful of other digital asset firms to launch a new stablecoin network for enterprises. The new “Global Dollar Network” is an open network that aims to increase stablecoin usage around the globe, according to a new press release from Paxos. The new network’s native stablecoin is the Global Dollar (USDG), which Paxos issues out of Singapore. The stablecoin firm notes that the asset is designed for enterprises and will be compliant with the Monetary Authority of Singapore’s upcoming stablecoin framework. Explains Charles Cascarilla,…

A closely followed crypto trader believes $80,000 is now the most significant level for Bitcoin (BTC). Pseudonymous trader The Flow Horse tells his 238,100 followers on the social media platform X that how Bitcoin handles a potential surge to around $80,000 may determine if the bull market continues. “The biggest test for Bitcoin isn’t here, nor does it depend on which [US] President takes the seat. In my opinion, it’s all about the $80,000 handle. All systems should be ‘GO’ for an all-time high break. If the market tags a big number like that – or comes close but falls…

Transfer volume on the Solana blockchain exploded recently and surged to multiple times higher than the total SOL market cap, according to the crypto analytics firm Glassnode. Glassnode notes that SOL clocked $224 billion worth of transfer volume in a single day, nearly 3x of the asset’s market cap, which sits around $78 billion at time of writing. Explains the firm, “This surge was driven by a high-activity wallet using multiple accounts. This wallet, likely an arbitrage bot, ramped up activity in early October and was likely responsible for the recent fee increases many were discussing.” SOL is trading at…

ARK Invest CEO Cathie Wood thinks blockchain and a handful of other technology sectors could grow under a Donald Trump administration. Wood says in a new YouTube video that federal deregulation could drive tech innovation. “If Trump’s elected and they do the decreasing regulation, getting government spending down, and expectations of government spending [is] down, I believe that what we’ve been expecting is going to happen on steroids, and that is the five major innovation platforms that are evolving today, so robotics, energy storage, artificial intelligence, blockchain technology and multiomic sequencing, they involve 14 different technologies and they’re all ready…

Bitcoin (BTC) just hit a new all-time high of $74,504 as Donald Trump’s odds of winning the presidency surge on betting sites. The online betting site Polymarket now has Trump at a 92.2% chance of winning the election. At time of publishing, NBC News projects Trump has secured 210 electoral votes, with Harris securing 91. Fox News projects Trump has secured at 211 electoral votes, with Harris at 117. A total of 270 electoral votes is needed to win the presidency, with many eyes now on the battleground state of Pennsylvania, where Trump currently has about a 100,000 vote edge…

An analyst who continues to grow his following with timely crypto calls believes that altcoins are about to witness a final capitulation event. Crypto strategist Benjamin Cowen tells his 876,600 followers on the social media platform X that the altcoin market looks poised to plummet against Bitcoin (TOTAL3/BTC). TOTAL3 serves as a proxy for the altcoin market as it tracks the market cap of all crypto excluding Bitcoin, Ethereum (ETH) and stablecoins. According to Cowen, TOTAL3/BTC appears to follow a price pattern witnessed in 2019 when the pair slumped to a key support level before a reversal and a strong…