Author: The Daily Hodl
Monthly trading volume on decentralized exchanges (DEXes) has reached new all-time highs, according to the latest on-chain data. According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest ever on record. The month of November was also an all-time high, according to DefiLlama. Uniswap, Ethereum’s (ETH) biggest DEX, recorded the most amount of volume while Raydium (RAY), the largest DEX on Solana, placed second. Most other chains saw an increase in volume, and DeFI as a sector is growing, perhaps getting a boost from President-elect Donald Trump who has ostensibly given a nod of approval…
A frog-themed memecoin is up massively after billionaire Elon Musk changed his username on the social media platform X. According to Musk’s X profile, his name has been changed to “Kekius Maximus,” a vague reference to the frog-headed Egyptian god Kek, whose name has been used to convey laughter by gamers and internet users. Kek has also been associated with Pepe the Frog, a cartoon character who inspired the $8.1 billion market cap memecoin PEPE. The Tesla CEO’s abrupt name change led to a staggering surge for Kekius Maximus (KEKIUS), an Ethereum-based frog-themed altcoin, which skyrocketed by over 32,000%, going…
A lawmaker in Hong Kong is reportedly proposing adding Bitcoin (BTC) to the region’s reserves for the purpose of financial stability. Wu Jiexhuang, a member of the Hong Kong Legislative Council and chairman of the Web3 Virtual Asset Development Subcommittee, said that the region should study how to maintain financial security with BTC, according to the state-controlled publication Wen Wei Po. Jiexhuang said Hong Kong should make use of the “one country, two systems” philosophy and explore ways the region to hold Bitcoin. “If major economic powers take the initiative to include Bitcoin in strategic reserves, the value of Bitcoin…
A popular crypto analyst says that meme asset Dogecoin (DOGE) could surge by quadruple digits percentage-wise for one key reason. Crypto trader Ali Martinez tells his 106,500 followers on the social media platform X that if DOGE follows a historic price pattern, the memecoin could surge to $17.76. “Dogecoin could rally by another 6,770% if it continues to follow the ascending parallel channel pattern!” An ascending parallel channel pattern is a bullish structure indicating that an asset is in an uptrend, printing higher highs and higher lows. DOGE is trading for $0.31 at time of writing, up 251% in the…
Widely followed analyst Michaël van de Poppe believes it’s only a matter of time before Bitcoin (BTC) and altcoins regain their bullish momentum. The trader tells his 759,000 followers on the social media platform X that he thinks Bitcoin and altcoins are close to carving a local bottom. According to Van de Poppe, crypto will witness renewed rallies once the market pullback is over. “The correction is almost over and the time for up only is on the horizon for altcoins and Bitcoin. Expecting a lot to come. The optimal entries for longs on Bitcoin are around $90,000 and we’re…
Crypto analyst Nicholas Merten is leaning bearish on Bitcoin (BTC) as the flagship crypto asset hovers around the $94,000 price tag. In a new video update, the host of DataDash tells his 510,000 YouTube subscribers that he is expecting Bitcoin to undergo a “major collapse” over the coming two weeks. “Bitcoin is starting to showcase not only really worrying signs with its price action, we are obviously seeing altcoins follow as well. And even macro recessionary indicators starting to flare up in a significant way.” According to Merten, the 21-day exponential moving average (EMA) – which had previously acted as…
Investor Luke Gromen believes that the winds are shifting in the US, creating conditions that could boost Bitcoin (BTC) to price levels never seen before. In a new interview on the Julia La Roche Show, the macro guru says he has “very high conviction” that policymakers in the US will weaken the dollar this year in an effort to rebuild the country’s defense industrial base. Last month, Gromen said that the US realized it was facing a national security crisis after being defeated by Russia in Ukraine. The investor noted the Department of Defense is now willing to debase the…
A popular crypto analyst is still bullish on a memecoin that’s already ripped by more than 4,000% in two months. The pseudonymous trader known as Altcoin Sherpa tells his 236,500 followers on the social media platform X that he’s still accumulating the Solana (SOL)-based memecoin Fartcoin (FARTCOIN). “I’m filling a bit around $0.80ish, approaching my buys. Total buys = some at $1, more at $0.80, and I also moved some other buys to $0.65 in case they come. I want my average to be around $0.80 or lower though. Still think this is a good meme and I’m hopeful it…
Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022. According to a Reuters report, Kwon, who co-founded Terraform Labs, was arrested in Montenegro last March while attempting to board a flight using a fake Costa Rican passport. He had evaded authorities since the May 2022 crash of his TerraUSD and Luna cryptocurrencies. The extradition followed the Montenegro Constitutional Court’s rejection of Kwon’s final appeal. “It was concluded that the majority of the criteria prescribed by law favor the extradition request…
A widely followed crypto analyst believes Bitcoin’s (BTC) delay in entering the most explosive phase of the cycle comes with pluses and minuses. Pseudonymous analyst Dave the Wave tells 147,700 followers on the social media platform X that Bitcoin may remain in a technical bullish trend for a while longer before eventually going parabolic. “The simple fact is that BTC price has not gone parabolic yet. This is both a negative and a positive. A negative in that those higher prices might not come in the here and now (is this really a negative?), and a positive in that price…