Author: The Daily Hodl

UBS Asset Management is unveiling its first tokenized investment fund on the leading smart contract platform Ethereum (ETH). In a statement, the global wealth manager and multinational investment bank says the UBS USD Money Market Investment Fund Token (uMINT) will be made available through authorized distribution partners. The Swiss firm with over $5.7 trillion in assets under management as of March 2024 says uMINT’s launch forms part of the broader expansion of UBS Tokenize, the banking giant’s in-house tokenization service initially focused on bonds, funds and structured products. Says UBS Asset Management Asia-Pacific co-head Thomas Kaegi,  “We have seen growing…

A deep-pocketed investor who is looking to make tens of millions of dollars from crypto betting platform Polymarket reportedly says that he has no political motivation behind putting his money on Donald Trump to win the upcoming US election. According to a new report by The Wall Street Journal (WSJ), a French national calling himself “Theo” who is betting over $30 million on Trump to win the election says his moves are designed solely for the purpose of making bank. “My intent is to make money… I have absolutely no political agenda.” Theo describes himself as a financial veteran who…

The chief executive of digital asset insights firm CryptoQuant says stablecoins are witnessing increased adoption via use-case expansion. CryptoQuant’s Ki Young Ju tells his 368,500 followers on the social media platform X that the total market cap of stablecoins is exploding for reasons other than digital asset trading on exchanges. The on-chain analyst’s data shows that only about one in five stablecoins are being used to buy and sell crypto. “In September 2021, exchange stablecoin reserves exceeded $30 billion. From this point, I considered the stablecoin market to be sufficiently grown, making comparisons from this time valid. Today, the stablecoin…

Economist Alex Krüger is revealing his scenarios for Bitcoin (BTC) during election night in the US, saying that a fast move could be coming for crypto markets. The trader tells his 185,000 followers on the social media platform X that in the event of a Trump victory on election night, Bitcoin could “shoot straight up” immediately after. If Kamala Harris comes out on top, Krüger says that Bitcoin will likely correct, but only temporarily before a move upward. “Simple elections framework for Bitcoin Trump win: BTC $90,000 by year-end, probability 55%. Harris win: BTC $65,000 by year-end, probability 45%. Weighted…

A veteran crypto strategist is issuing a dire warning on Bitcoin, saying that BTC is in danger of plummeting to the $50,000 price level. In a new video update, pseudonymous analyst DonAlt tells his 62,500 YouTube subscribers that a Bitcoin weekly close below $70,000 opens the door for another round of cascading liquidations for BTC. DonAlt believes that Bitcoin’s recent climb above $70,000 is driven by paper-handed traders looking to make a quick buck in the event of a Trump victory. But the analyst warns that their positions will likely be liquidated if BTC struggles to sustain its rally. “I…

Leading smart contract platform Ethereum (ETH) is flashing a signal for a potential bounce, according to a popular crypto analyst. The digital asset trader Ali Martinez tells his 76,700 followers on the social media platform X that ETH’s Tom DeMark (TD) Sequential Indicator presented a bullish signal on its four-hour chart. 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. Says Martinez, “For this bullish setup to hold, ETH needs to stay above the $2,480 support.” ETH is still above that level at time…

A long-dormant crypto whale has woken up after years of slumber to move millions of dollars worth of Bitcoin (BTC), according to on-chain data. New data from market intelligence firm Whale Alert reveals a wallet that has been asleep for more than 12 years has abruptly woken up and sent 159 BTC worth about $11.75 million. The wallet first received 759 Bitcoin in September 2012 for a total cost of $7,974, suggesting an average price of $10.50 for the BTC stack. The numbers indicate that the whale relocated the 159 BTC trove after printing gains of more than 700,000%. The…

The Singapore-based digital asset exchange Crypto.com has acquired the US broker-dealer Watchdog Capital in an effort to launch equities trading for American customers. The New Hampshire-based broker is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization that creates and enforces rules for brokerage firms. Crypto.com chief executive Kris Marszalek says the acquisition is a “massive step forward” in terms of bridging crypto with traditional finance. “We are aggressively working towards integrating traditional financial tools with digital financial capabilities and are doing so while maintaining our focus…

Billionaire Warren Buffett is buying a “high flying” asset after significantly reducing his exposure to the US banking industry, according to a new report. The renowned investor has sold $10.5 billion of Berkshire Hathaway’s stake in Bank of America since the summer, after selling all of the firm’s JPMorgan Chase and Wells Fargo positions in recent years. Now, Buffett is turning his attention to a top global insurance company that specializes in property and casualty coverage. New SEC regulator filings show Buffett is steadily buying shares of Chubb (CB), reports The Motley Fool. The firm provides commercial and personal property…

Cryptocurrency analyst and trader Michaël van de Poppe is highlighting a Solana (SOL) competitor that he believes could skyrocket massively during this cycle. In a new video, Van de Poppe tells his 166,000 YouTube subscribers that the native token of the layer-one blockchain Sei (SEI) possesses a “lot of upside” potential. According to Van de Poppe, Sei could go up by between 1,188% and 3,765% from the current level. “…If we have an estimate of anything between $50 to $100 billion [in Sei’s fully diluted valuation], knowing that the ecosystem is currently growing as big as it is and that…