Author: The Daily Hodl

A popular crypto trader says a liquid staking service for the Ethereum (ETH) blockchain is flashing a short-term bullish signal. The analyst Ali Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator recently presented a buy signal on Lido DAO’s (LDO) 3-day chart. “If LDO can hold above $1.85, we could see it rebound toward $3!” 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. LDO is trading at $2.05 at time of writing. The 63rd-ranked…

Two US Senators are writing a bipartisan letter to federal agencies about the potential use of crypto assets by child abusers. According to a new press release, Senator Elizabeth Warren, a Democrat from Massachusetts, and Senator Bill Cassidy, a Republican from Louisiana, say in the letter that digital assets are the “payment of choice” for explicit materials involving children. The letter was sent to both the Department of Justice (DOJ) and the Department of Homeland Security (DHS). In the letter, the Senators detail their concerns over the anonymity of crypto assets and their illegal use in such a manner. “We…

One widely followed crypto analyst is getting granular about the phases of a Bitcoin (BTC) halving. Every four years, BTC rewards for miners are cut in half, an event known as the halving. BTC’s most recent halving occurred just one week ago on April 19th. BTC’s price has changed little in the seven days since. According to pseudonymous crypto trader Rekt Capital, we are still in phase one of the three phases of a halving. First, there’s the transitional phase, where BTC finds itself today, followed by the re-accumulation and parabolic upside phases. “The Transitional Phase consists of three sub-phases: 1a)…

Payment processing firm Stripe plans to roll out global USDC payments this summer, more than six years after the company ended Bitcoin (BTC) support. John Collison, Stripe’s president and co-founder, announced the upcoming payments feature on Thursday. At a presentation, Collison demonstrated how customers could link crypto wallets to Stripe and make instant payments with USDC on Solana (SOL) and Ethereum (ETH). Businesses using the payments firm will also be able to add a stablecoin option for paying customers. The company previously supported Bitcoin payment options but discontinued that feature in April 2018, citing the top crypto asset’s lack of…

Crypto asset manager Pantera Capital has reportedly won a bid to purchase discounted Solana (SOL) from bankrupt crypto exchange platform FTX. According to a new report by Bloomberg, an anonymous person familiar with the matter says that Pantera won a bid to purchase a discounted stash of the Ethereum (ETH) rival. Though the details of the deal haven’t been made public yet, the person says that 2,000 SOL tokens were sold this week. Earlier in April, FTX sold about 66% of its $2.6 billion trove of SOL at a discounted price of about $60. SOL is trading for $142 at…

Financial services giant Visa just launched a new tool to provide the public with more accurate data on key stablecoin activities. In a series of posts on social media platform X, Visa’s head of crypto Cuy Sheffield says the payments firm partnered with data platform Allium to create the Visa Onchain Analytics Dashboard as a public resource for stablecoin transaction data. The dashboard shows relevant metrics such as stablecoin supply, transaction volume and monthly active users for USDC, Tether (USDT), Paypal USD (PYUSD) and Pax Dollar (USDP) across five layer-1 and four layer-2 blockchains. Explains Sheffield, “This Onchain Analytics Dashboard…

BitMEX co-founder Arthur Hayes believes one catalyst could re-ignite bullish momentum for the cryptocurrency market. Hayes tells his 502,700 followers on the social media platform X that more liquidity could soon flood the markets, boosting risk-on assets like crypto. He is referring to the expected May 1st quarterly refinancing announcement (QRA) from U.S. Treasury Secretary Janet Yellen. Hayes details some possible fiscal decisions Yellen could make that he believes would re-accelerate the crypto market. “As expected tax receipts added roughly $200 billion to U.S. Treasury General Account (TGA). Forget about the May Fed meeting the 2Q 2024. Refunding announcement comes…

A lawyer with the crypto investment arm of venture capital giant Andreessen Horowitz (a16z) says web3 projects should not publicly sell tokens in the US to raise funds. In a new blog post, a16 Crypto general counsel Miles Jennings says that the U.S. Securities and Exchange Commission (SEC) has made it clear that Initial Coin Offerings (ICOs) fall under the ambit of securities laws. “In many ICOs, token issuers made clear representations and promises to investors that they were going to fund their operations with the proceeds from the token sale and deliver a future return to investors. Those cases…

A widely followed cryptocurrency analyst and trader believes one type of crypto asset is about to implode. The analyst pseudonymously known as Credible Crypto tells his 391,500 followers on the social media platform X that memecoins could suddenly collapse in value. “Still a lot of salt in this space despite us being at new all-time high for BTC. Mainly because memes are the ‘only’ alts that have been pumping the last few months. Hearing lots of ‘this cycle is clearly different, it’s a meme supercycle’ etc. and ‘fundamentals don’t matter.’ Lots of people have lost hope on their non-meme alt…

A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring. “Highly bullish on memes this cycle though for a lot of reasons. New retail wants to get rich quick, they’re going to enter the casino with us. Adapt or continue to underperform.” The analyst also reveals his top memecoin picks starting with large market cap projects: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK) and dogwifhat (WIF). The analyst’s top mid-cap memecoin…