Author: The Daily Hodl

Bitcoin (BTC) could be approaching a “euphoric bull” phase, according to a popular on-chain analyst. The pseudonymous analyst known as Checkmate tells his 91,100 followers on the social media platform X that BTC is approaching a “decision point.” “Bitcoin breaking to a new ATH (all-time high) has historically represented a transition point from the Enthusiastic Bull, into the Euphoric Bull. It also coincides with the MVRV (market value to realized value) ratio getting above 1 standard deviation, but we rarely clear it on the first attempt.” MVRV is the ratio of Bitcoin’s market capitalization relative to its realized capitalization (the…

New data reveals crypto whale transactions are rising for two Ethereum (ETH)-based altcoins as the broader market rallies. According to market intelligence platform Santiment, deep-pocketed investor activity is picking up for layer-2 altcoin Optimism (OP) and fan-focused crypto project Chiliz (CHZ). “With crypto rebounding big [May 20th], keep an eye on the rising whale activity among many altcoins like Optimism and Chiliz. Sudden high on-chain activity among their largest traders typically will foreshadow major volatility and OP and CHZ reversals.” Optimism is trading for $2.80 at time of writing, up more than 1% in the last 24 hours. Meanwhile, Chiliz…

A closely followed economist is warning that a major economic event last witnessed almost a century ago will likely rear its ugly head in 2025. Henrik Zeberg tells his 140,700 followers on the social media platform X that he sees risk-on assets such as stocks and crypto going higher and higher for the next few months. However, the economist predicts that the bullish conditions will abruptly subside toward the end of the year, just as market participants become extremely exuberant. “You may not like it. You may not understand it. But the bull market has an end date – this…

A trader known for several accurate crypto market calls says that Bitcoin (BTC) may be gearing up for a massive breakout. Pseudonymous analyst Dave the Wave tells his 146,500 followers on the social media platform X that Bitcoin may be following a bullish pattern of trading in a range before putting up an approximate 50% gain. “The BTC megaphone.” Looking at his daily chart, the trader suggests that Bitcoin is printing a bullish megaphone pattern, with two higher high prices and two lower low prices, and could soar to around $109,500. The analyst also says that the price lows in…

A widely followed crypto strategist says that a certain altcoin group will massively benefit from the approval of a spot market Ethereum (ETH) exchange-traded fund (ETF). Pseudonymous analyst DonAlt tells his 554,400 followers on the social media platform X that while an Ethereum ETF might be a bit bearish for Bitcoin (BTC) inflows, it will be bullish for Ethereum and an altcoin cohort that has yet to see big rallies. “Think ETH ETF would take quite a bit of bid away from BTC. Think ETH ETF would lead to ETH going up which would lead to more stupidity in the…

The venture capital arm of the world’s largest crypto exchange by trading volume is announcing a new investment in a decentralized exchange (DEX) protocol. According to a new press release, Binance Labs has invested in a layer-2 (L2) DEX called Aevo, a rebrand of Ribbon Finance. Aevo bills itself as a high-performance derivatives DEX platform tailored for futures and perpetual contracts trading. The decentralized finance (DeFi) protocol is built on top of the Ethereum (ETH) layer-2 protocol Optimism’s (OP) OP Stack. It acts as an off-chain order book, with orders settled on-chain on Ethereum. The protocol uses Celestia (TIA) as a high-throughput data…

Closely followed trader and economist Alex Krüger believes Ethereum (ETH) is headed to new all-time highs (ATHs) due to one key catalyst. Krüger tells his 175,400 followers on the social media platform X that a possible approval of a spot ETH exchange-traded fund (ETF) as early as this week could send the top altcoin soaring. The odds for an ETH ETF approval by the U.S. Securities and Exchange Commission (SEC) suddenly increased this week, and ETH rallied by more than 20% in the past day. He also believes Bitcoin (BTC) will be “much higher” before the end of 2024. “My…

Venture capital (VC) investment in crypto firms is reportedly on the rise following a slump of seven consecutive quarters. Citing data from private equity and venture capital deals information provider PitchBook, Reuters reports that VC investment in crypto companies rose by 41% quarter-on-quarter to reach a figure of $2.4 billion in the first three months of 2024. The figure is still a fraction of the $11.1 billion that VCs pumped into crypto companies in the first quarter of 2022, per the report. Since then, crypto VC investments witnessed consecutive quarterly declines until the first quarter of this year. At the…

Ethereum (ETH) has exploded in price on hopes of an approval from the U.S. Securities and Exchange Commission (SEC) for a spot ETH exchange-traded fund (ETF). Bitcoin rallied alongside ETH, and the sudden move has liquidated nearly $400 million worth of traders positions, according to current data from Coinglass. The odds of an SEC approval of Ethereum ETFs were originally slim to none, but late on Monday, Bloomberg ETF experts Eric Balchunas and James Seyffart announced they were raising the odds to 75%, up from 25%. “Update: James Seyffart and I are increasing our odds of spot Ether ETF approval…

A mathematics professor and cryptography expert thinks crypto firms need to prioritize setting up defenses against the threat of future quantum attacks. In a new interview with Ripple, Dr. Massimiliano Sala, a professor at the University of Trento in Italy, warns that future quantum computers could “easily solve problems that are foundational to digital signatures,” undermining crypto asset security. Sala, the head of the Italian Cryptographic Association, thinks all classical public-key cryptosystems should be replaced with upgraded versions that can maintain security against quantum attacks. He suggests that projects begin to transition immediately. “The probability of quantum threats materializing may…