Author: The Daily Hodl

Circle CEO Jeremy Allaire says that the vast majority of unexpected developments in crypto still haven’t occurred yet. In a new interview on the Empire podcast, Allaire says that the two things that surprised him were memecoins and non-fungible tokens (NFTs). “Memecoins and NFTs… The whole phenomenon, and the way in which those phenomena emerged and were popularized. Those were not things that I anticipated. And I can make arguments about the good and the bad. NFTs to me are actually very important technology, very important utility, and NFTs as a pattern is critical in a ton of different ways.…

Hedge fund veteran Mark Yusko believes that the launch of Bitcoin exchange-traded funds (ETFs) has given Wall Street some control over the price action of BTC. In a new interview with crypto podcaster Scott Melker, Morgan Creek’s Yusko says that he’s not seeing signs of intense selling pressure in both the spot and ETF markets. But Yusko says Bitcoin is correcting because of entities heavily shorting BTC in the futures market. The hedge fund veteran believes that Bitcoin is being shorted by institutions to artificially push the price of BTC down so they can accumulate coins at a discount. “There’s…

A widely followed crypto analyst is warning that  Bitcoin (BTC) and crypto could be seeing red this month based on historical seasonality. In a new video update, crypto strategist Benjamin Cowen tells his 810,000 YouTube subscribers that September has historically delivered negative returns for BTC more often than not. 1:30:- “I started noticing a pattern for Bitcoin. And essentially what it was, was that we just had red September after red September after red September. 2017, 2018, 2019, 2020… What you’ll notice, though, no matter how you look at your averages, no matter what years you ignore, September tends to…

Digital assets manager CoinShares says that institutional crypto investors pulled millions in capital from digital asset products last week. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products suffered $305 million in outflows last week driven by strong economic data releases. “…with widespread negative sentiment evident across various providers and regions. We believe this was driven by stronger-than-expected economic data in the US, which has diminished the likelihood of a 50-basis point interest rate cut. We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the FED gets closer…

The number of people holding at least $1 million worth of crypto assets significantly increased over the past year, according to a new report from international wealth and investment specialists Henley & Partners. Data from the firm’s Crypto Wealth Report 2024 shows that as of June 30th, there are already 172,300 individuals worldwide who hold $1 million worth of crypto assets, including Bitcoin (BTC).  The number represents a growth of 95% from July 1st, 2023. Crypto centi-millionaires, or those with digital holdings worth $100 million, now number 325, up by 79% from last year. The number of people holding at…

The Federal Trade Commission (FTC) is reportedly issuing a warning about crypto ATM scams, noting that victims are losing thousands of dollars in the scheme. According to a new report by NBC News, the regulatory body is warning consumers that bad actors are stealing funds via Bitcoin (BTC) ATMs, or machines that convert cash directly into the top crypto asset by market cap. Data from the FTC finds that in the first half of the year, $65 million has been stolen by scammers using Bitcoin ATMs. Furthermore, it shows that from 2020 to 2023, the amount of money drained in…

A closely followed crypto strategist thinks that Bitcoin (BTC) is gearing up to carve the bottom of its extended correction this month. Pseudonymous analyst Rager tells his 198,000 followers on the social media platform X that he thinks Bitcoin will start carving a local bottom this month. According to the analyst, the precise timeline for BTC’s lows is not important as he sees Bitcoin rallying in Q4 of this year. “August and September is a very good chance that the low could/will be in over the next month. And regardless of exact timeline – many here will still agree prices…

Veteran trader The Flow Horse says a painful bleed down for Bitcoin (BTC) may be the most likely path in the near term due to a lack of large buyers. The trader tells his 228,000 followers on the social media platform X that Bitcoin will likely follow the same pattern that Ethereum in its Bitcoin pair (ETH/BTC) has printed over the last several months: a steady grind downward. According to the pseudonymous analyst, Bitcoin will likely continue trending down with periodic bounces unless deep-pocketed investors step in to boost the momentum of BTC. “Bitcoin actually probably follows the same slowbleed.exe…

Ethereum creator Vitalik Buterin says he hasn’t sold any ETH for six years unless it was going toward charity or boosting projects within the ecosystem. In response to rumors of him selling Ethereum, Buterin says that he hasn’t unloaded any ETH for personal gain. “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (eg. biomedical research and development).” Buterin also highlights that the Ethereum Foundation awarded $8.4 million in grants to ecosystem projects last quarter. Last month, Buterin named…

A closely followed analyst is forecasting a breakout for Bitcoin (BTC) later this month based on historical patterns. The pseudonymous analyst known as Rekt Capital tells his 497,000 followers on the social media platform X that cycles based around the Bitcoin halving – when miners’ rewards are cut in half – suggest that a bullish impulse may start around the end of September. Rekt Capital’s chart suggests that in the past, BTC consolidated for about five months mid-cycle before sparking a next leg up. “History suggests that Bitcoin tends to break out 150-160 days after the Halving. That would mean…