Author: The Daily Hodl
Stablecoin issuer Circle just rolled out a new smart contract functionality that enables holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. The BUIDL is asset management giant BlackRock’s first tokenized fund that invests in cash, U.S. Treasury bills and repurchase agreements. Shares are represented by a blockchain-based token and dividends are directly sent to investors’ wallets as new tokens each month. In a new statement, Circle says it now offers a near-instant and round-the-clock off-ramp service for BUIDL investors. “Circle’s breakthrough smart contract functionality enables the frictionless transfer of BUIDL shares for…
A closely followed crypto trader is warning that Bitcoin (BTC) may be sending false bullish signals. Pseudonymous trader The Flow Horse tells his 209,900 followers on the social media platform X that Bitcoin may be at risk of a sudden move to the downside. “This kind of Bitcoin structure that has everyone focused on breaking out is exactly the kind that sets up a fake out that barts down and just continues to range longer.” The trader believes Bitcoin could start dipping as it heads into the April 19th halving event, when miners’ rewards are cut in half. “The closer…
A widely followed crypto strategist is remaining bullish on one gaming altcoin this market cycle. Pseudonymous analyst Altcoin Sherpa tells his 214,300 followers on the social media platform X that Beam (BEAM) seems to have a lot more upside potential. “BEAM: one of my bags. It’s just chilling the last several weeks. Still hugely bullish on this coin and it’s still an indexed bet on crypto gaming for this cycle. Going to just keep hodling, not a trade.” Looking at the trader’s chart, he suggests Beam could rally to the key upside levels of $0.036 and $0.040. Beam is trading…
A widely followed analyst and trader is expressing bullish sentiment on an Ethereum (ETH) competitor that has soared by triple digits in half a year. The analyst pseudonymously known as Bluntz tells his 254,100 followers on the social media platform X that Solana (SOL) appears to have completed a short-term bearish phase when paired against the US dollar. Bluntz, who usually applies the Elliott Wave theory in his technical analysis, says that Solana has bottomed out at around $162 and will now go “higher from here” after completing a three-wave bearish pattern. The Elliott Wave theory states that the main…
The host of the Coin Bureau channel Guy Turner is expressing bullish sentiment on Ethereum (ETH) layer-3 scaling solutions. Turner tells the 2.46 million subscribers of the Coin Bureau YouTube channel that the native tokens of layer-3s (the scaling solutions built atop layer-2s) have massive upside potential going forward. “The thing is layer-3s are also super efficient, making them perfect for things like gaming, decentralized finance (DeFi) and much much more besides. As such, layer-3 chains and the cryptos launching on them have some serious 100x potential.” Among Turner’s top layer-3 picks include Degen Base (DEGEN) which is built on…
The market intelligence platform Santiment believes Bitcoin (BTC) could soon hit $100,000 if the correlation between crypto and stocks decreases. In a new video update, Brian Quinlivan, Santiment’s director of marketing, says Bitcoin may be diverging from the S&P 500, a historic bullish signal for the crypto king. “After the bad news about inflation, this could be a sign that crypto is diverging away from equities again and carving their own path. And in most extended bull runs throughout the history of crypto for 15-plus years we have seen that they most often occur when there is little to no…
A widely followed crypto strategist believes the token of one layer-2 blockchain project is among the best market performers. Pseudonymous analyst Altcoin Sherpa tells his 214,100 followers on the social media platform X that Mantle Network (MNT), an Ethereum (ETH) scalability solution, could soar beyond all-time highs (ATHs). “MNT: going to buy some more Mantle here. I think this continues to grind up beyond ATHs, still one of the strongest coins.” MNT is trading for $1.30 at time of writing, down 4.5% in the last 24 hours. MNT reached an ATH of $1.54 on April 8th. Next up, the trader…
One of the biggest centralized crypto exchange platforms in the world is planning on delisting a popular privacy-focused altcoin in two European nations in the coming months. In a new article, crypto exchange Kraken says it’s going to be delisting Monero (XMR), a blockchain focused on anonymity that launched in 2014, from Ireland and Belgium starting in June. According to Kraken, after June 10th, all remaining XMR on the crypto exchange will be automatically converted into Bitcoin (BTC), the top crypto asset by market cap. “We will be delisting Monero (XMR) from the Kraken platform, for clients in Ireland and…
A top crypto analyst is issuing a warning that dogwifhat (WIF) could collapse if the memecoin dips below a key level. In a new strategy session, pseudonymous analyst DonAlt tells his 58,800 YouTube subscribers that WIF could plummet in value if it fails to hold $3 as support. “If Dogecoin goes up, maybe WIF goes back up too, so you can kind of make up your own minds, but I think a close below $3 would be quite catastrophic. So if you’re bullish on WIF, it’s trading quite a bit above $3, but if it starts trading below $3, I…
Marathon Digital Holdings CEO Fred Thiel is offering his thoughts on how the upcoming Bitcoin (BTC) event is likely to affect the price of the flagship crypto asset. The CEO of the crypto mining firm says in a new Bloomberg interview that the upcoming Bitcoin halving is likely to have “some small impact” on the price of the flagship digital asset. The halving is scheduled to occur on April 19th and will reduce the amount of Bitcoin produced per day from 900 to 450. According to Thiel, the spot Bitcoin exchange-traded funds (ETF) in the US, which were approved in…