Author: The Daily Hodl
A closely followed crypto strategist who’s been bullish on Solana (SOL) for the past year is suddenly flipping bearish on the Ethereum (ETH) rival. In a new video, pseudonymous analyst Bluntz tells his 259,600 followers on the social media platform X that Solana appears to have completed a five-wave rally. Bluntz practices the Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, an asset that has completed a five-wave upside move will likely witness a corrective period. According to the analyst,…
A widely followed analyst in the crypto space says that markets still haven’t fully adjusted to Bitcoin’s recent halving, which slashed BTC miners’ rewards in half. In a new video update, pseudonymous trader Rekt Capital tells his 77,000 YouTube subscribers that Bitcoin has historically ignited a parabolic rally after the halving. But the trader notes that actual pricing in of the halving tends to happen a few months after the event. “The Bitcoin halving is not priced in. Historically, whenever we’ve seen a halving, we’ve seen phenomenal upside at this point in the cycle, where already we’ve seen new all-time…
Coinbase, the largest crypto exchange in the US, has announced the potential future listing of an altcoin within the Bitcoin (BTC) scaling ecosystem. The exchange announced that Core (CORE) is now on its listing roadmap, meaning the exchange will possibly list it for trading in the future. Core is designed to be a hyper-scalable complimentary smart contract platform to Bitcoin. Core’s ecosystem consists of several major components, including its Satoshi Plus consensus mechanism, its non-custodial staking and its native version of wrapped Bitcoin. CORE currently has a market cap of $1.96 billion and a fully diluted valuation of $4.64 billion. Crypto…
A trader known for making timely crypto market calls thinks that one surging memecoin is poised to more than double its valuation. Early last week, pseudonymous analyst Hsaka told his 554,600 followers on the social media platform X that he believes frog-themed memecoin Pepe (PEPE) will soar in market cap en route to dethroning its rival Shiba Inu (SHIB). At the time, PEPE was the 28th-largest crypto by market cap. Since then, the Ethereum (ETH)-based memecoin has been on a tear, rallying by about 71% in a matter of days. Hsaka shares another chart showing that PEPE has leapfrogged six…
A Chinese woman charged for her role in laundering the proceeds of a multi-billion dollar fraud scheme is now reportedly behind bars. According to Reuters, Wen Jian was sentenced to six years and eight months in prison on Friday after jurors found her guilty of one count of money laundering in March. Prosecutors say that Wen converted Bitcoin (BTC) into cash and property to hide the source of money that was purportedly stolen from nearly 130,000 investors in a $6.4 billion wealth scheme that took place in China between 2014 and 2017. The scheme is believed to have been masterminded…
New data from market intelligence firm Kaiko Analytics shows that hedge funds are net short on Bitcoin (BTC) and Ethereum (ETH) on the Chicago Mercantile Exchange (CME). In a new research article, the crypto analytics platform says that while hedge funds are net short on both BTC and ETH on the CME, it does not mean the funds are bearish on crypto, but rather, that they are engaging in basis trades, a type of arbitrage strategy. Net short means that the hedge funds have accumulated more short positions than long positions in the crypto derivatives markets. Says Kaiko Analytics, “This…
A widely followed trader says that Ethereum (ETH) is about to vastly outrun Bitcoin (BTC) and is predicting one memecoin will rally hard. Pseudonymous trader Bluntz tells his 259,000 followers on the social media platform X that he’s got his eye on the two-week chart of the Ethereum versus Bitcoin (ETH/BTC) pair. The trader says that ETH/BTC is just days away from printing a rare bullish divergence, hinting at an outperformance of Ethereum over Bitcoin. A bullish divergence may indicate reversal areas amid rising momentum even though the price moves down or sideways. Bluntz targets the 0.1 BTC level ($6,907),…
An analyst known for making macro crypto calls thinks the altcoin market is poised to spark steep rallies similar to the ones witnessed in 2016 and 2021. Pseudonymous analyst TechDev tells his 451,900 followers on the social media platform X that he’s watching the OTHERS chart, which tracks the total market cap of crypto excluding the 10-largest digital assets and stablecoins. According to the crypto strategist, OTHERS appears to be following a “textbook” bullish formation after breaking out from a rounding bottom pattern. “Alts are entering textbook markup.” Looking at the trader’s chart, OTHERS seems to have printed the exact…
A widely followed crypto strategist thinks that Bitcoin (BTC) is in a position to ignite a breakout rally on the way to fresh all-time highs over the next few days. In a new video update, pseudonymous analyst Credible tells his 53,200 YouTube subscribers that Bitcoin may have just started a five-wave rally that could send BTC above $100,000. Credible relies on the Elliott Wave theory, which states that a bullish asset often witnesses a five-wave surge where waves one, three and five are upside moves and waves two and four are corrective periods. According to the analyst, Bitcoin’s recent move…
The native altcoin of a decentralized education platform surged by over 117% this week amid news that a web3 firm has plans to purchase the token. Open Campus’ governance and utility asset, EDU, is trading at $1.10 at time of writing, up from its seven-day low of $0.505. The 252nd-ranked crypto asset is also up more than 12% in the past 24 hours. Open Campus aims to foster an ecosystem that “connects learners, educators, content creators and educational institutions,” according to the project’s whitepaper. The EDU Chain bills itself as the “first layer-3 blockchain built for education.” EDU’s price surge…