Author: The Daily Hodl
An analyst who continues to build a following with contrarian crypto calls believes that Solana (SOL) is one more rally away from witnessing a total meltdown. Pseudonymous analyst Credible tells his 395,200 followers on the social media platform X that he thinks Solana is in a distribution phase or a period when deep-pocketed investors in profit are methodically selling their holdings without crashing the market. According to Credible, Solana may see one more surge to the $230 level on the back of Bitcoin’s (BTC) strength before starting a strong downtrend. “With the strength I am seeing on BTC at the…
Macro strategist Henrik Zeberg is predicting Bitcoin (BTC) will make a big move to the upside any day now. In a new interview on the Bloor Street Capital YouTube channel, Zeberg says Bitcoin could soar more than 64% from its current value by the third quarter of the year. “In January I said $110,000 to $115,000 on Bitcoin and I stick to that. I think we’re hours or days away from a big move starting again. We had a big move on [May 20th]. I think that was just the beginning. Now we’ve been consolidating for a few days, and…
Crypto analyst Jason Pizzino says he’s looking at four altcoins flashing signs of strength, which include Solana (SOL) and the memecoin Pepe (PEPE). In a new strategy session, Pizzino tells his 327,000 YouTube subscribers that alongside SOL and PEPE, derivatives platform Pendle (PENDLE) and decentralized GPU rendering blockchain Render (RNDR) have strong-looking market structures. According to Pizzino, Solana looks great against the US dollar. “Solana against USD is holding up pretty damn well, we can see the low here and the 50% [retracement level] back down at $154, so still in a relatively strong position.” Solana is trading for $162.09…
The foundation behind crypto’s leading decentralized exchange (DEX) is disclosing its crypto assets as a governance vote for a new fee mechanism approaches. In a new blog post, the Uniswap Foundation has shared its 2024 first-quarter financials in a show of transparency with the Uniswap (UNI) token-holding community. “On March 31, 2024 we had $41.41 million in USD and stables on hand and UNI 0.73 million (in UNI). The fiat (USD) cash and stables are to be used for grant-making and operating activities and the UNI for employee token awards. The expected runway was through the end of 2025 and was earmarked as follows. Grants commitments and incentives:…
The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will vastly outperform gold for the remainder of the current bull cycle. The co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 63,000 followers that the BTC/gold ratio could more than double in the coming months. The BTC/gold ratio, currently at 29, is the value of Bitcoin relative to the price of gold. “Opinion: a lot of talk about gold over the last couple of months. But is gold really the asset to be exposed to at this point? BTC-Gold…
Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), says it’s inevitable that a spot Ethereum (ETH) exchange-traded fund (ETF) will go live on American stock exchanges. In a new interview on CNBC television, Clayton notes that the SEC has already approved the product itself, and will likely proceed to approving the actual trading of the ETF products. “There’s two pieces of approval for one of these types of products. There’s the listing approval which is what happened [on May 23rd], and then there’s the approval of the product itself which is still pending. That’s called…
One widely followed crypto analyst thinks three leading altcoins are soon to enter bullish phases. Crypto trader Ali Martinez tells his 62,900 followers on the social media platform X that the decentralized supply chain management platform VeChain (VET) is on the verge of lift-off after a successful retest of a parallel channel. “Like in the previous bull cycle, VeChain retests the upper boundary of a parallel channel before VET enters a bull rally.” VET is worth $0.0396 at time of writing, up 4% in the last 24 hours. Looking at the decentralized finance (DeFi) blockchain Injective (INJ), Martinez sees a historical precedent for…
Presidential candidate Donald Trump’s crypto holdings passed the $10 million mark early this week, data from blockchain “de-anonymizing” platform Arkham. The former president’s gains were largely driven by the price appreciation of MAGA (TRUMP), a memecoin inspired by Trump himself. At time of publishing, Trump holds $7.1 million worth of TRUMP, $1.83 million worth of Ethereum (ETH) and a series of other smaller altcoins, many of which were likely sent to his public wallet address as a form of marketing or publicity. Arkham’s data shows Trump’s portfolio is currently in a parabolic upward move. TRUMP, launched late last year on…
Former President Donald Trump is continuing to express his support for the crypto industry, saying that he will protect the right of 50 million Americans to self-custody digital assets. Speaking to his supporters in Washington D.C., the 2024 Republican candidate says that he’s going to “crush” the Biden Administration’s anti-crypto stance. Trump goes on to say he will keep Americans’ crypto safe from Democrat Senator Elizabeth Warren, known for drafting anti-crypto legislation, as well as never allow the government to create a central bank digital currency (CBDC). “I will also stop Joe Biden’s crusade to crush crypto, we’re going to…
A crypto whale was spotted over the weekend scooping up massive amounts of altcoins from the Ethereum ecosystem following the listing approval spot ETH exchange-traded funds (ETFs) from the U.S. Securities and Exchange Commission (SEC). First reported by blockchain tracking firm Lookonchain, a whale with a series of wallets bought Ethereum just above the $3,000 mark just before news of a likely ETH ETF approval surfaced. Shortly after the ETFs got a green light from the SEC, the whale began to accumulate Ethereum-based altcoins, such as Lido (LDO), Uniswap (UNI), Aave (AAVE), Ethereum Name Service (ENS) and Fraxshare (FXS). “Before…