Author: The Daily Hodl
The CEO of Ripple Labs says that the company behind the biggest stablecoin by market cap could be the next target of US government regulators. In an interview with the World Class YouTube channel last week, Ripple Labs head Brad Garlinghouse warned that crypto’s next “black swan event” could involve the space’s leading stablecoin, USDT. “Do I think there’s going to be another Black Swan event? Of course. 100%. I just don’t know exactly what it is. The only one that’s going to be an interesting one to watch — and I don’t even know [if this is] a Black…
A trader who accurately called the beginning of the 2021 bear market meltdown says that the low for Bitcoin (BTC) is likely already in, based on historical patterns. Pseudonymous analyst Dave the Wave tells his 190,000 followers on the social media platform X that Bitcoin’s monthly moving average convergence divergence (MACD) indicator has slightly contracted, which traditionally signals that a bullish trend has at least temporarily lost steam. The MACD is a momentum indicator that traders use to spot potential points of trend reversals. But Dave the Wave says he doesn’t think the signal suggests that BTC’s price is headed…
An altcoin inspired by the Gamestop (GME) short-squeeze frenzy of 2021 has exploded over 2,000% after the movement’s leader made an internet appearance for the first time in nearly three years. Keith Gill, who pseudonymously goes as “Roaring Kitty” on the social media platform X, posted a gamer meme early on Monday, and has since posted several other videos. The posts are Gill’s first since mid-2021 when he led the movement to pump the price of GME, causing several large institutions that were short the stock to lose money. Since the posts, GME has skyrocketed. At time of publishing, it…
A closely followed crypto analyst believes Bitcoin (BTC) is entering into a bullish reversal phase after a post-halving correction. The pseudonymous analyst known as Rekt Capital tells his 466,400 followers on the social media platform X that Bitcoin seems to be following a 2016 cycle pattern when Bitcoin dipped after the halving event – during the so-called ‘danger zone’ – and then soared to new all-time highs (ATHs). He says Bitcoin now appears to have exited the historic correction period on the weekly chart after April’s halving event when miners’ rewards were cut in half. “The post-halving Bitcoin ‘danger zone’…
Asset manager ARK Invest and fintech firm 21Shares have made key revisions to their application for a spot Ethereum (ETH) exchange-traded fund (ETF). Based on the updated ARK 21Shares Ethereum ETF registration statement submitted to the U.S. Securities and Exchange Commission (SEC) on May 10th, the firms are scrapping the ability to stake a portion of the fund’s assets. The amended proposal no longer includes the provision that states the issuer “may, from time to time, stake a portion of the Trust’s assets through one or more third-party staking providers.” Staking allows cryptocurrency holders to earn rewards by locking their digital…
Digital assets manager CoinShares says institutions resumed investing in crypto products last week after a five-week break. In its latest Digital Asset Fund Flows report, CoinShares finds that digital asset investment products brought in $130 million in inflows last week after four weeks of outflows. “Digital asset investment products saw inflows for the first time in five weeks totaling $130 million. ETP (exchange-traded product) volumes continue to subside, though, with $8 billion for the week compared to $17 billion average in April. These volumes highlight ETP investors are participating less in the crypto ecosystem at present, representing 22% of total volumes on global trusted exchanges…
An unknown whale has sold off their altcoin positions for a massive loss after prices dipped, according to on-chain data. First reported by blockchain tracking service Lookonchain, one whale capitulated their positions in Ethereum (ETH) and layer-2 altcoins Optimism (OP) and Arbitrum (ARB). Lookonchain says the whale, with wallet addresses beginning with 0x12199 and 0xac218, suffered losses of $8.43 million. “So sad! This whale sold all ETH, OP, and ARB at a loss of ~$8.43 million. Sold 6,714 ETH ($19.5 million) at $2,903 and lost $6.45 million!Sold 428,047 OP ($1.06 million) at $2.48 and lost $902,000!Sold 901,685 ARB ($882 million)…
A crypto trader who nailed the 2022 Bitcoin bottom thinks that BTC is at risk of witnessing an over 15% correction. In a new strategy session, pseudonymous analyst DonAlt tells his 59,300 YouTube subscribers that Bitcoin is in danger of losing its range low and support at $61,000 again after reclaiming it earlier this month. DonAlt warns that a daily close below $61,000 is a huge sign of weakness that will likely trigger a sell-off event that sends BTC close to $50,000. “This is just the bearish scenario. This was just kind of the complacency bounce off of the range…
Crypto strategist Michaël van de Poppe believes that Ethereum (ETH) is close to witnessing a big trend shift. Van de Poppe tells his 717,600 followers on the social media platform X that he doesn’t expect the U.S. Securities and Exchange Commission (SEC) to approve pending applications for spot Ethereum exchange-traded funds (ETFs) in the coming weeks. The SEC is slated to approve, delay or deny the ETH ETF applications by financial giants Hashdex and Ark 21Shares on May 30th after postponing it in March. Van de Poppe predicts that the SEC’s decision will end up being a pivotal point for the…
Technical signals are hinting at an explosion in altcoin prices approaching over the horizon, according to veteran crypto analysts. Glassnode co-founders Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 62,800 followers that altcoins are likely on the verge of a “massive move.” The analysts say that ALTS (TOTAL3), which represents the total market cap of crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins, appears ready to move up now that both its monthly relative strength index (RSI) and moving average convergence divergence (MACD) indicators have potentially bottomed out.…