Author: The Daily Hodl
An altcoin linked to a security-focused crypto wallet is outperforming the broader digital asset market, surging by more than 40% this week. Safe is a smart contract wallet that runs on multiple blockchains. The project introduced native swaps this week. Explains Safe, “Batch auctions consolidate multiple transactions, reducing gas costs and the need for multiple signatures. A smoother, more efficient trading process is here. Built-in MEV (maximal extractable value) protection by specialized third-party solvers ensures fair and interference-free transactions. Specialized solvers compete to fill orders by accessing a broad network of decentralized liquidity sources, aiming for more competitive pricing.” SAFE,…
The head of blockchain analytics platform CryptoQuant thinks Bitcoin (BTC) is only halfway through its current bull cycle. Ki Young Ju tells his 346,000 followers on the social media platform X that BTC’s market cap is growing faster than its realized cap, a trend he says tends to last around two years. The realized cap metric records the price of each Bitcoin when it last moved and aims to gauge how many holders are in profit or at a loss. Explains Young Ju, “If this pattern continues, the bull cycle might end by April 2025.” BTC is trading at $67,014…
Smart contract platform Solana (SOL) is moving to the top of CoinGecko’s list of fastest blockchains. In a new publication, CoinGecko says Solana is a staggering 46 times faster than its rival Ethereum (ETH), the second-largest digital asset by market cap, making it the fastest large blockchain on the market. However, CoinGecko says that Solana has only reached 1.6% of its theoretical maximum throughput. “Solana has proven to be the fastest among large blockchains, with its actual daily average transactions per second (TPS) reaching a record high of 1,504 on April 6th this year amid the memecoin mania. This makes…
The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could ban the largest stablecoins by trading volume. MiCA is the upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law also includes measures that aim to reduce financial crimes including market manipulation, money laundering and…
Galaxy Digital CEO Mike Novogratz is warning that Bitcoin (BTC) is not likely to print fresh all-time highs (ATH) until macro conditions change. In a new interview on Galaxy’s podcast, the billionaire says that Bitcoin will probably trade sideways until Fed rate cuts, which he believes would be bullish for the crypto king. More favorable crypto regulations could also push Bitcoin to new ATHs, he says. “There’s a resurgence of the ‘Oh my God, the economy’s slowing down’ narrative, which will be helpful. I don’t think Bitcoin will take out the old high, the $73,000 high, unless we get the…
A closely followed crypto strategist believes one Top-50 artificial intelligence (AI)-related altcoin is preparing to witness big rallies in the coming months. Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that Render (RNDR), a project related to Graphics Processing Units (GPUs), will likely hold a range low as support. “RNDR: expecting this area to hold. $10 is a bargain. Expecting much higher prices in the coming months. I’m in this again.” Looking at his chart, the trader suggests the level around $10 is the bottom of a trading range with an upper bound of…
A widely followed analyst and trader is expressing bullish sentiment on a leading memecoin while updating his outlook on three other crypto assets. The analyst pseudonymously known as Kaleo tells his 638,400 followers on the social media platform X that Dogecoin (DOGE) is “about to rip”. On the largest memecoin by market cap, the widely followed analyst further says, “DOGE always has been and always will be the king of the memes. All of retail is still familiar with it, and all of crypto Twitter was raised on it. It was the initial meme that made it possible for us…
Analyst and trader Jason Pizzino believes that Bitcoin (BTC) is gearing up for a big upside move en route to fresh all-time highs. Pizzino tells his 326,000 YouTube subscribers that the Bitcoin bull market is just taking a breather as it consolidates below its immediate resistance at around $69,000. According to the analyst, it is only a matter of time before BTC breaks out of consolidation and prints gains of around 100% from current levels. The trader uses the Fibonacci extension tool to identify his big BTC price target. “I don’t think the cycle’s over by any stretch of the…
Ethereum (ETH) rival Fantom (FTM) has outpaced the broader crypto market and surged in price this week amid a new upgrade. FTM is trading around $0.801 at time of writing. The 55th-ranked crypto asset by market cap is up nearly 5.5% in the past 24 hours and more than 15% in the past week. By comparison, the overall crypto market cap is down 1.5% in the past 24 hours and up around 5% in the past seven days. Validators on the Fantom Opera mainnet began upgrading their nodes to be powered by the project’s new “Sonic” technology on Tuesday. Fantom…
A Nigerian court is reportedly ruling that a detained Binance executive can face trial as a representative of the crypto exchange platform. According to a new report by Reuters, a Nigerian court ruled that U.S. citizen Tigran Gambaryan – Binance’s chief financial compliance officer – can stand trial on behalf of the world’s largest crypto exchange by volume in the ongoing tax evasion and money laundering case against it. However, according to Binance, Gambaryan does not wield the power to make choices for the firm. As stated by a Binance spokesperson to Reuters, “We are deeply disappointed that Tigran Gambaryan,…