Author: The Daily Hodl

Closely followed trader and economist Alex Krüger is predicting Ethereum (ETH) will reach new all-time highs (ATHs), while also eyeing up other altcoins. Krüger tells his 171,400 followers on the social media platform X that he “fully expects” new ATHs for ETH based on several fundamental reasons. “I fully expect ETH to trade ATH. I am long ETH. I use ETH. It is useful. It is decent collateral and great for staking. ETH underperforms though. Those not using it for staking are down bad. The reason is simple. Most people in crypto already own too much ETH. I’ve been talking…

The founder of the decentralized finance (DeFi) protocol Curve (CRV) reportedly stared at the prospect of getting liquidated as the altcoin market collapsed during the weekend. According to crypto reporter Colin Wu, Curve founder Michael Egorov faced liquidation in his lending positions after Curve’s native asset dipped to $0.42. “Curve founder Michael Egorov also faced liquidation of his lending positions as CRV fell to $0.42. Michael mortgaged a total of 371 million CRV (approximately $156 million) through five addresses on six lending platforms to borrow $92.54 million in stablecoins. The health rate has dropped to around 1.1.”  In leveraged trading,…

A widely followed crypto analyst says that Ethereum (ETH) competitor Solana’s (SOL) nearly 45% devaluation from its 2024 high may end up being a “lifetime opportunity” for long-term bulls. Pseudonymous crypto trader Inmortal tells his 212,400 followers on the social media platform X that Solana looks poised to erase most of its losses in the last few days as he expects SOL to rally above $200. “Lifetime opportunity.” Based on the trader’s chart, he initially predicted that SOL would drop to $115, which it did on Saturday, before reversing and rallying toward his upside target. At time of writing, SOL…

A closely followed analyst is forecasting when altcoins can recover from their current downturn and enter into another “hype cycle.” The pseudonymous analyst known as Rekt Capital tells his 450,400 followers on the social media platform X that altcoin market cycles tend to happen in quarterly waves, with the last cycle recently peaking this month. According to Rekt, altcoins may bottom out in late May or early June before entering a new “hype cycle” in July. “Altcoins are following the plan… Altcoins bottomed in early February.  Altcoins sold off around the BTC Halving.  Altcoin to bottom early summer.” Looking at…

A closely followed crypto strategist thinks that Bitcoin (BTC) is positioned to surge to new all-time highs following last week’s drop to around $60,000. Pseudonymous analyst Kaleo tells his 634,700 followers on the social media platform X that Bitcoin appears to be mirroring its December 2023 to January 2024 price action – when the market anticipated the approval of spot BTC exchange-traded funds (ETFs). According to the trader, he sees Bitcoin rallying to new record highs around the halving when BTC miners’ rewards are slashed in half. However, he predicts that BTC will see a deep correction after the rally…

An analyst known for making timely altcoin calls says one Dogecoin (DOGE) rival will make a huge comeback after the crowd takes their attention elsewhere. Pseudonymous analyst The Flow Horse tells his 210,100 followers on the social media platform X that he’s long-term bullish on the memecoin dogwifhat (WIF). According to the top trader, WIF will likely see sideways price action in the coming months, which he thinks will prepare the meme token for a big upside move in the second half of 2024. “I think the dog is going to take off the hat for a bit. Across every…

Blockchain analytics firm says Bitcoin (BTC) is still in a “euphoria phase” despite its recent correction based on on-chain metrics. In a new report, the firm says BTC’s current downward price action is still tame compared to previous cycles, suggesting that the crypto king is in the earlier stages of a bull run. “If we return to the magnitude of drawdowns we alluded to earlier, we can see that despite the large-scale profit taking by existing holders, the magnitude of pullbacks remains historically small. If we compare the ATH (all-time high) break in prior cycles, it could be argued that…

Top US crypto exchange Coinbase is looking to file an interlocutory appeal in its lawsuit with the U.S. Securities and Exchange Commission (SEC) regarding the definition of an “investment contract.” In a new thread, Coinbase chief legal officer Paul Grewal says that the crypto exchange is filing an interlocutory appeal because they and the SEC disagree on the definition of “investment contract.” “Today Coinbase filed a brief asking the Court’s permission to seek an interlocutory appeal in our SEC case on this controlling question: whether an “investment contract” requires something contractual – we think it does, the SEC disagrees.” An…

More than half a million altcoins have already been created between January and early April this year, according to crypto data aggregator CoinGecko.  Using data from its decentralized exchange (DEX) tracker GeckoTerminal, CoinGecko examined the number of cryptocurrencies from December 31st, 2021 to April 11th, 2024.  The result shows that 2.52 million cryptocurrencies have been launched to date, including transient memecoins and dead projects. The current number of crypto assets is also 5.7 times more than the 440,000 that existed at the end of 2021. The period between January 1 and April 11th this year saw the rollout of 540,000…

A trader who nailed the 2018 Bitcoin bear market bottom believes that the most recent correction has put BTC in a position to rally to a new all-time high. Top analyst Bluntz tells his 255,000 followers on the social media platform X that Bitcoin appears to have printed a local bottom after completing an ABC corrective wave on the four-hour chart. The trader uses Elliott Wave theory, which states that a bullish asset often witnesses a fresh leg up after an three-part ABC correction. Says Bluntz, “We got the sweep. I think that’s the low. BTC.” Looking at the trader’s…