Author: The Daily Hodl
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…
A high-conviction gambler stands to win $48,350,000 if Trump prevails in Tuesday’s US presidential election, according to crypto analytics platform Arkham. Arkham says a whale trader put up $27.15 million on the crypto betting platform Polymarket in hopes of winning more than $48 million if Republican Donald Trump wins. Arkham also reports other big wagers on Trump as well as on his Democratic challenger Kamala Harris. “Who will win the most on the election? Trump: Fredi9999 (four accounts) to win $48.35 million (cost basis: $27.15 million). zxgngl to win $24.75 million (cost basis: $15.21 million). GCottrell93 to win $13.28 million…
The social media giant Reddit has unloaded a huge part of its cryptocurrency holdings, according to a new regulatory filing. The firm says in a filing with the U.S. Securities and Exchange Commission (SEC) that it sold a big chunk of the crypto assets on its balance sheet during Q3 of this year. “During the three months ended September 30, 2024, we sold the majority of our cryptocurrency portfolio, which consisted primarily of Bitcoin and Ether. The net carrying value of our cryptocurrencies, as well as the gain recognized on sale, was immaterial for the periods presented.” According to Reddit,…
SWIFT, UBS Asset Management and blockchain oracle provider Chainlink (LINK) have joined forces to successfully complete a pilot for settling tokenized transactions on the Swift network. According to a new announcement from Swift, the initiative allows for digital asset transactions to settle off-chain with fiat payment systems all over the world. The aim of the pilot was to address problems in traditional finance operations, including delayed settlements and real-time transparency. It utilized Chainlink and Swift to settle subscriptions and redemptions for tokenized investment vehicles. Says SWIFT head of Strategy Jonathan Ehrenfeld, “For digital assets to be adopted globally, they must seamlessly…
Binance co-founder Yi He is pushing back against claims that her crypto trading platform asks for tokens in exchange for listing. Simon Dedic, the chief executive of the crypto investment firm Moonrock Capital, kicked off the argument when he said on the social media platform X last week that he’d recently talked with a “Tier 1 project that raised close to nine figures” and was trying to get listed on Binance. “After wasting over a year of due diligence with Binance, they finally received a listing offer. Binance asked for 15% of their total token supply. Imagine paying $50–$100 million…
Longtime crypto bull Anthony Pompliano believes that the flagship digital asset Bitcoin (BTC) is gold on steroids. In a new interview on Fox Business, the founder of venture capital firm Pomp Investments says that the debasement of the US dollar is bullish for both Bitcoin and gold, but the flagship crypto asset could outperform the precious metal due to increasing adoption. “If you look at gold and the S&P 500 over the last five years, the compound annual growth rate is about the same. Gold is up 13% and the S&P is up 14%. Bitcoin has destroyed that. And so…
A popular on-chain strategist says Ethereum (ETH) is showing a great risk-reward ratio setup. Analyst Ali Martinez tells his 76,900 followers on the social media platform X that ETH appears to be forming a bullish ascending channel on the weekly timeframe. “The risk-to-reward ratio on Ethereum is too good to pass up for a long position! I’ve set my stop below $1,880 and am aiming for a target of $6,000.” Looking at his chart, the analyst suggests ETH is holding the bottom trend line of the ascending channel as support and could soon re-test the upper bound at around $6,100.…
Galaxy Digital CEO Mike Novogratz is outlining how he thinks Bitcoin (BTC) will move after the United States votes for a new president. In a new interview on the Unchained YouTube channel, Novogratz says that Bitcoin will spark a new bull market regardless of who wins the US presidential race. But he predicts that the Bitcoin bull market will be slightly delayed if Democratic candidate Kamala Harris comes out on top. “I think on a Trump win, we break $73,000 and go a lot higher fast. On a Harris win, we probably flush down to high $50,000s [to] low $60,000s,…
An analyst who accurately called the market collapse of 2022 says that a massive black swan event could crush altcoins ahead of the US election. Writing to his 105,000 subscribers in his Telegram channel, pseudonymous crypto analyst Capo says that OTHERS, which tracks the market cap of all crypto assets excluding stablecoins and the top 10 ranked coins, could be headed for a massive drop during the election. Capo doesn’t make any predictions on what exactly the black swan event could be but says it will likely be an optimal buying opportunity. “Quick update: As mentioned before, several factors could…
Deutsche Telekom’s subsidiary, MMS, and Bankhaus Metzler are launching a pilot project to establish a Bitcoin (BTC) mining operation utilizing surplus energy. According to a new announcement from Deutsche Telekom – parent company of mobile giant T-Mobile – the intent of the operation is to power BTC mining with electricity from renewable energy sources. According to the announcement, regulating power through BTC mining has already been successfully done in the US and Finland. The pilot project being announced today concerns validating the process in Germany. Says Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS, “With…