Author: The Daily Hodl
A closely followed crypto trader says he’s looking to scoop up more of a Solana (SOL)-based memecoin amid the market correction. The pseudonymous analyst known as Altcoin Sherpa tells his 236,000 followers on the social media platform X that he’s got his eye on Fartcoin (FARTCOIN), a memecoin that was created by an anonymous developer referencing the “ideal memecoin” suggested by the artificial intelligence (AI) large language model Truth Terminal. Altcoin Sherpa says he’s looking to accumulate FARTCOIN even if it drops to as low as $0.65. “I’m filling a bit around $0.80ish, approaching my buys. Total buys = some…
The largest publicly traded corporate holder of Bitcoin (BTC) just added over 2,000 new tokens to its stash. According to MicroStrategy founder Michael Saylor, the software development firm just snagged 2,138 BTC worth approximately $209 million. “MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per Bitcoin and has achieved BTC yield of 47.8% QTD (quarter to date) and 74.1% YTD (year-to-date). As of 12/29/2024, we hodl 446,400 BTC acquired for ~$27.9 billion at ~$62,428 per Bitcoin.” Saylor included a link to the company’s SEC filing accompanying the BTC acquisition. Last week, MicroStrategy added three new seats to its…
The co-founders of the blockchain analysis platform Glassnode are laying out how Bitcoin (BTC) can reclaim six figures and more. Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, who share the social media handle Negentropic, start by comparing BTC’s current situation to a similar scenario from a few years back. “Let’s look at the period from December 2020 to February 2021, which corresponds to a similar cycle phase and comparable price action. At that time, the outflow of liquidity coincided with a price correction, but network growth persisted. Likewise, when the price stabilized and a new influx of liquidity…
A crypto strategist known for accurately calling Bitcoin’s retracement earlier this year warns that BTC is flashing signals that could lead to an extended corrective period. Pseudonymous analyst Rekt Capital tells his 524,500 followers on the social media platform X that BTC shattered two support levels on the weekly chart, suggesting that its short-term uptrend has come to an end. According to the analyst, the price action indicates that BTC could take a breather in the coming weeks. “The weekly support has been lost. The five-week technical uptrend is over (orange). Bitcoin is showing increasing signs of transitioning into a…
An under-the-radar project focused on artificial intelligence (AI) is defying the crypto market downturn as tokenomic upgrade plans begin to take shape. The utility token for the AI agent project ai16z (AI16Z) is trading for $1.52 at time of writing, up 23.7% in the past 24 hours. With a market cap of $1.65 billion, the Solana (SOL)-based altcoin is the 79th-largest crypto project. Meanwhile, Bitcoin (BTC) is down nearly 2% on the day, trading for $91,998 at time of writing. The entire crypto market cap is valued at $3.36 trillion at time of writing, down 3.4% in the last 24…
A closely followed crypto analyst says that one factor could cause Bitcoin (BTC) to plummet all the way down to $85,000. In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,700 followers that the next time prominent stablecoin Tether’s (USDT) dominance level (USDT.D) tests the 4.7-5% area, the crypto king will see a significant price decrease. “BTC is starting to break down. If USDT.D tests 4.7-5%, Bitcoin into $85,000 seems appropriate.” According to Bennett, the market won’t hit its bottom until Tether’s dominance levels reach the target area. An asset’s dominance level is…
The chief executive of market intelligence platform CryptoQuant is warning investors that the US government’s motivations for creating a Bitcoin (BTC) standard may be different from what they expect. In a new thread on the social media platform X, Ki Young Ju says that for the US to seriously consider a BTC standard, it would have to see its global economic dominance threatened by another nation. “I personally support the idea of Bitcoin Standard. However, I question whether the U.S., while continuing to grow as other economies stagnate, would adopt Bitcoin as a strategic asset. For the debate to gain…
A crypto whale that participated in the initial coin offering (ICO) of Ethereum has reportedly been spotted sending nine figures worth of ETH to the crypto exchange Kraken this year. Citing data from on-chain analyst Ember, Wu Blockchain reports that after another transfer of 3,370 ETH to Kraken over the weekend, a whale connected to Ethereum’s genesis block has sent a total of 48,687 ETH worth $171.78 million to the exchange in 2024 with an average transfer price of $3,528. Meanwhile, Ember says that the deep-pocketed investor collected 200,000 ETH from the genesis block in 2015. Ember also thinks that…
Venture capitalist Chris Burniske says crypto investors with long-term conviction should be chomping at the bit for entries into the market amid the correction. Burniske, a former analyst at Cathie Wood’s ARK Invest and current partner at Placeholder, says that Bitcoin (BTC) has likely already printed its lows for the bull run, and given that “quality alts” are down significantly, opportunities for the crypto bulls are abound. “Loving where the market is right now. BTC is making PTSD (post-traumatic stress disorder) people fear a precipice when it’s already filled the liquidation wick and fell as far as ~15% from its…
The research arm of Galaxy Digital is revealing its predictions for the two largest crypto assets in 2025. In a new thread on the social media platform X, Galaxy Research’s Alex Thorn says he sees Bitcoin (BTC) surging by nearly 100% from current levels before 2025 expires amid increasing adoption of the largest digital asset by market cap. “Bitcoin will cross $150,000 in H1 and test or best $185,000 in Q4 2025. A combination of institutional, corporate, and nation-state adoption will propel Bitcoin to new heights in 2025. Throughout its existence, Bitcoin has appreciated faster than all other asset classes,…