Author: The Daily Hodl
The foundation behind crypto’s leading decentralized exchange (DEX) is disclosing its crypto assets as a governance vote for a new fee mechanism approaches. In a new blog post, the Uniswap Foundation has shared its 2024 first-quarter financials in a show of transparency with the Uniswap (UNI) token-holding community. “On March 31, 2024 we had $41.41 million in USD and stables on hand and UNI 0.73 million (in UNI). The fiat (USD) cash and stables are to be used for grant-making and operating activities and the UNI for employee token awards. The expected runway was through the end of 2025 and was earmarked as follows. Grants commitments and incentives:…
The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will vastly outperform gold for the remainder of the current bull cycle. The co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 63,000 followers that the BTC/gold ratio could more than double in the coming months. The BTC/gold ratio, currently at 29, is the value of Bitcoin relative to the price of gold. “Opinion: a lot of talk about gold over the last couple of months. But is gold really the asset to be exposed to at this point? BTC-Gold…
Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), says it’s inevitable that a spot Ethereum (ETH) exchange-traded fund (ETF) will go live on American stock exchanges. In a new interview on CNBC television, Clayton notes that the SEC has already approved the product itself, and will likely proceed to approving the actual trading of the ETF products. “There’s two pieces of approval for one of these types of products. There’s the listing approval which is what happened [on May 23rd], and then there’s the approval of the product itself which is still pending. That’s called…
One widely followed crypto analyst thinks three leading altcoins are soon to enter bullish phases. Crypto trader Ali Martinez tells his 62,900 followers on the social media platform X that the decentralized supply chain management platform VeChain (VET) is on the verge of lift-off after a successful retest of a parallel channel. “Like in the previous bull cycle, VeChain retests the upper boundary of a parallel channel before VET enters a bull rally.” VET is worth $0.0396 at time of writing, up 4% in the last 24 hours. Looking at the decentralized finance (DeFi) blockchain Injective (INJ), Martinez sees a historical precedent for…
Presidential candidate Donald Trump’s crypto holdings passed the $10 million mark early this week, data from blockchain “de-anonymizing” platform Arkham. The former president’s gains were largely driven by the price appreciation of MAGA (TRUMP), a memecoin inspired by Trump himself. At time of publishing, Trump holds $7.1 million worth of TRUMP, $1.83 million worth of Ethereum (ETH) and a series of other smaller altcoins, many of which were likely sent to his public wallet address as a form of marketing or publicity. Arkham’s data shows Trump’s portfolio is currently in a parabolic upward move. TRUMP, launched late last year on…
Former President Donald Trump is continuing to express his support for the crypto industry, saying that he will protect the right of 50 million Americans to self-custody digital assets. Speaking to his supporters in Washington D.C., the 2024 Republican candidate says that he’s going to “crush” the Biden Administration’s anti-crypto stance. Trump goes on to say he will keep Americans’ crypto safe from Democrat Senator Elizabeth Warren, known for drafting anti-crypto legislation, as well as never allow the government to create a central bank digital currency (CBDC). “I will also stop Joe Biden’s crusade to crush crypto, we’re going to…
A crypto whale was spotted over the weekend scooping up massive amounts of altcoins from the Ethereum ecosystem following the listing approval spot ETH exchange-traded funds (ETFs) from the U.S. Securities and Exchange Commission (SEC). First reported by blockchain tracking firm Lookonchain, a whale with a series of wallets bought Ethereum just above the $3,000 mark just before news of a likely ETH ETF approval surfaced. Shortly after the ETFs got a green light from the SEC, the whale began to accumulate Ethereum-based altcoins, such as Lido (LDO), Uniswap (UNI), Aave (AAVE), Ethereum Name Service (ENS) and Fraxshare (FXS). “Before…
A closely followed crypto strategist who’s been bullish on Solana (SOL) for the past year is suddenly flipping bearish on the Ethereum (ETH) rival. In a new video, pseudonymous analyst Bluntz tells his 259,600 followers on the social media platform X that Solana appears to have completed a five-wave rally. Bluntz practices the Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, an asset that has completed a five-wave upside move will likely witness a corrective period. According to the analyst,…
A widely followed analyst in the crypto space says that markets still haven’t fully adjusted to Bitcoin’s recent halving, which slashed BTC miners’ rewards in half. In a new video update, pseudonymous trader Rekt Capital tells his 77,000 YouTube subscribers that Bitcoin has historically ignited a parabolic rally after the halving. But the trader notes that actual pricing in of the halving tends to happen a few months after the event. “The Bitcoin halving is not priced in. Historically, whenever we’ve seen a halving, we’ve seen phenomenal upside at this point in the cycle, where already we’ve seen new all-time…
Coinbase, the largest crypto exchange in the US, has announced the potential future listing of an altcoin within the Bitcoin (BTC) scaling ecosystem. The exchange announced that Core (CORE) is now on its listing roadmap, meaning the exchange will possibly list it for trading in the future. Core is designed to be a hyper-scalable complimentary smart contract platform to Bitcoin. Core’s ecosystem consists of several major components, including its Satoshi Plus consensus mechanism, its non-custodial staking and its native version of wrapped Bitcoin. CORE currently has a market cap of $1.96 billion and a fully diluted valuation of $4.64 billion. Crypto…