Author: The Daily Hodl
A prominent layer-2 scaling solution for the meme asset Dogecoin (DOGE) is announcing that it is going to be shutting down its wallet services next month. In a new thread on the social media platform X, Mishaboar, one of Dogecoin’s developers, tells investors to make sure they move their DOGE out of the Dogechain wallet before it shuts down on June 1st as well as keep a copy of their wallet’s private keys. “Make sure to move your DOGE out of http://dogechain.info (only use the .info domain!) before June 1st. Keeping a copy of Dogechain’s wallets’ private keys is also…
After a week of falling prices for crypto led by Bitcoin (BTC), a widely-followed analyst says the bottom is nearly in. Crypto trader Michaël van de Poppe warns his 715,600 followers on the social media platform X that it could still take some time for BTC to recover from falling nearly 7% in the last two weeks. “It’s going to take a while for Bitcoin. However, most of the downside is done. There might be another 5-10% correction, but from here, altcoins are going to take over until Bitcoin breaks the all-time high.” BTC is worth $59,290 at time of writing, up 4% in the last…
Binance founder and former CEO Changpeng Zhao is undeterred from investing in crypto despite receiving a prison sentence for US law violations at the world’s largest digital asset exchange. In a statement on social media platform X, Zhao tells his followers what his plans are following his sentencing on Tuesday. “I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of…
New data reveals that one of the biggest banks in the world is acquiring shares of asset manager BlackRock’s spot market Bitcoin (BTC) exchange-traded fund (ETF). In a new filing with the U.S. Securities and Exchange Commission (SEC), France-based BNB Paribas – the ninth-largest bank in the world – purchased 1,030 shares of the iShares Bitcoin Trust (IBIT) for a total of $41,684. According to the filing, the global banking institutions’ investment into IBIT is down just under 20% since it was bought at the end of March. “BNB Paribas filed a 13F-HR form disclosing ownership of 1,030 shares of…
Top decentralized exchange (DEX) Uniswap (UNI) now allows its mobile app users to buy crypto using their funds on popular trading platform Robinhood. In a new statement, Uniswap says the new funding method is currently available to US-based users through Robinhood Connect, a feature that enables customers of the brokerage firm to fund their Web3 wallets without leaving decentralized applications (DApps). “Users of the Uniswap mobile app can now buy crypto with a debit card, via bank transfer, or directly from their Robinhood balance using Robinhood Connect (available only for users in the United States). Robinhood Connect is the latest…
Analysts with the crypto exchange Bitfinex say two key metrics are suddenly flashing bullish for Bitcoin (BTC). In a new blog post, Bitfinex analysts say that Bitcoin’s Market Value to Realized Value (MVRV) ratio shows the price of the top-performing crypto asset is likely going up. MVRV is the ratio of Bitcoin’s market capitalization relative to its realized capitalization, which is the value of all BTC at the price they were bought at and is used to assess whether the crypto asset is undervalued or overvalued. The analysts say the MVRV ratio suggests Bitcoin is now undervalued after falling since…
A prominent early Bitcoin (BTC) investor was arrested in Spain over the weekend for allegedly evading $50 million worth of US taxes. Roger Ver, a noted supporter of Bitcoin Cash (BCH), faces charges including mail fraud, tax evasion and filing false tax returns, according to a new announcement from the U.S. Department of Justice (DOJ). US authorities hope to extradite the crypto veteran, who has faced multiple lawsuits from other businesses in the crypto space in the past. Ver, who’s nicknamed “Bitcoin Jesus” for his outspoken early praise of BTC, allegedly obtained citizenship in St. Kitts and Nevis in February…
A trader known for several accurate crypto market calls says that Bitcoin (BTC) may not be done correcting after suddenly dropping below $58,000. Pseudonymous analyst Dave the Wave tells his 146,700 followers on the social media platform X that he is closely watching to see if Bitcoin will hold as support at a key Fibonacci retracement level. Based on historic precedence, the analyst had accurately predicted a possible move down to around $58,000. “I don’t really see too much drama in BTC at the moment, still in the range, still some wiggle room down to the .382 fib, the standard…
Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.28 million, followed by $170.43 million on Binance, the world’s top exchange, $45.09 million on Huobi and $37.22 million on Bybit. Coinglass reveals that during the last day, $167.43 million worth of Bitcoin was liquidated, the overwhelming majority of them being long positions. Coinglass also finds that $115.48 million…
Widely followed analyst Benjamin Cowen is warning that Bitcoin (BTC) could fall further after the flagship crypto asset hit a low last recorded in February. Cowen tells his 801,000 YouTube subscribers in a new video that Bitcoin could experience more downward pressure if the price falls below the 100-day simple moving average (SMA). “In the short term the thing to keep an eye on with Bitcoin is going to be your 100-day moving average because that is where we are right now. We just swept these lows [at $60,000]. So that’s what I would keep an eye on. The 100-day…