Author: The Daily Hodl
US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC. The bank’s Form F13 filing, which requires institutional investment managers to disclose their holdings, says Wells Fargo is holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was converted to an ETF in January. The total value of those shares is $121,207 at time of publishing – a sliver of the firm’s approximately $2 trillion in assets under management. But the revelation is significant given the resistance that banks have historically shown toward customers…
Top global crypto exchange Binance plans to launch trading support for a new altcoin connected to a viral game on the encrypted messaging platform Telegram. Binance plans to roll out support for NOT, a community token for the popular Telegram-based tap-to-earn mining game Notcoin, via its Launchpool platform, which lets users stake coins to farm new assets. Between May 13th and 16th, Binance users can stake BNB, the crypto exchange platform’s native asset, as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm NOT tokens. The exchange then plans to list the asset on May 16th.…
A financial regulator in India is reportedly approving crypto exchange platforms Binance and Kucoin for business within the nation after banning them last December. According to a new report by CoinDesk, Binance and Kucoin have been approved by India’s anti-money laundering regulator, who said the crypto exchanges registering will add “a little more credibility to the system.” The world’s largest crypto exchange by volume and Kucoin will be the first two offshore digital asset exchanges approved by the regulator since banning nine of them last year. Others banned at the time included Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and…
A widely followed crypto analyst is suggesting that altcoins could be on the rise as hopes for an Ethereum (ETH) exchange-traded fund (ETF) approval this month from the U.S. Securities and Exchanges Commission (SEC) this month dwindle. Crypto trader Michaël van de Poppe tells his 717,300 followers on the social media platform X that altcoins are waking up as Bitcoin (BTC) hovers near $61,000. “Markets did bounce from the crucial area at $61,000 and Altcoins are waking up. It’s the final accumulation period before the big surge.” BTC is worth $60,933 at time of writing, down 2% on the day. Looking specifically at the altcoin…
A widely followed crypto analyst says that Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) could be flashing a potentially bullish indicator. In a new thread, crypto trader Ali Martinez tells his 61,900 followers on the social media platform X that ARB’s Tom DeMark (TD) Sequential Indicator has presented a buy signal on the asset’s weekly chart. “It anticipates a one to four candlesticks rebound for ARB!” Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. ARB is trading at $1.04 at time of writing.…
A widely followed cryptocurrency analyst and trader is turning bullish on a decentralized wireless network project. The analyst pseudonymously known as Bluntz tells his 258,700 followers on the social media platform X that key indicators suggest Helium (HNT) is about to have a massive breakout. Bluntz uses the Elliott Wave theory in his analysis, which attempts to forecast price movements based on crowd psychology that is manifested in waves. The Elliott Wave theory suggests that price impulses happen in five waves after three-wave “ABC” corrections. “Since original post we did a nice five wave rise from the lows and now…
A widely followed crypto strategist believes Bitcoin (BTC) could suddenly plunge much lower. In a new post, crypto analyst Justin Bennett tells his 111,300 followers on the social media platform X that if Bitcoin fails to hold $61,000 as support the crypto king could remain in a downtrend for a while. However, he says that if Bitcoin can break through the $65,000 level on the monthly chart, the top digital asset by market cap would confirm a bullish trend. “BTC looks pretty terrible at the moment. This slow bleed is not ideal for buying. We’ve seen this before, and it…
New on-chain data reveals that one lucky trader is seeing a more than 86,000% gain on his Ethereum (ETH)-based memecoin investment. According to blockchain tracking firm Lookonchain noticed, one investor bought $6,500 worth of the MAGA (TRUMP) late last year and is now sitting on $5.6 million worth of funds. “The trader ‘waxl.eth’ turned $6,500 to $5.6 million with TRUMP, a gain of 870x! He spent $6,500 to buy 2.08 million TRUMP via two wallets and sold 1.24 million TRUMP for $902,000, with 832,000 TRUMP ($4.7 million) left.” The MAGA memecoin, founded in August 2023 and based on former US…
Widely followed crypto analyst Benjamin Cowen is offering his outlook on when Bitcoin (BTC) could potentially bottom out as the flagship digital asset hovers around $63,000. In a new video update, Cowen tells the 801,000 subscribers of his YouTube channel that the current Bitcoin price action resembles that which followed the crypto king’s second halving event eight years ago more so than the halving in 2020. “It looks to me like it’s mimicking 2016 a lot more than the other two cycles, which kind of makes sense. I mean a lot of people who’ve been following Bitcoin for a while…
A widely followed crypto trader says that Bitcoin (BTC) could skyrocket to a six-figure price tag in the fourth quarter of 2024. In a new thread, pseudonymous crypto analyst Altcoin Sherpa tells his 215,900 followers on the social media platform X that the top crypto asset by market cap’s bull cycle has yet to finish. “I still don’t think that it would be ‘over’ though and that’s it for this cycle. I think that we still are going to see BTC to six figures and some sort of mania.” According to the pseudonymous analyst, the crypto king could “giga send”…