Author: The Daily Hodl

Coinbase has reestablished trading support for XRP in the state of New York. The top US crypto exchange by trading volume first suspended XRP trading across the country shortly after the U.S. Securities and Exchange Commission (SEC) kicked off its lawsuit against Ripple in late 2020. The SEC alleged Ripple sold XRP as an unregistered security. That suspension was lifted last July after US District Judge Analisa Torres ruled that the San Francisco payment company’s automated, open-market sales of XRP did not constitute security sales. Coinbase immediately relisted XRP, though the exchange excluded New York users from trading the asset.…

Galaxy Digital CEO Mike Novogratz believes that the so-called great wealth transfer could give a huge boost to Bitcoin (BTC) and other digital assets. In a new CNBC interview, the billionaire says that the millennials, who stand to inherit the largest transfer of wealth in history, are more inclined to invest in digital assets than their boomer parents or relatives. “Those [younger people] love crypto. They love Bitcoin. They don’t love gold. Even meme stocks. Older people are like, ‘I can’t believe Dogecoin. What a what a waste of time.’ You talk to the 25-year-old and they see it differently.…

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum (ETH) going forward. The analyst pseudonymously known as Flow Horse tells his 216,400 followers on the social media platform X that dogwifhat (WIF), whose logo features a dog wearing a hat, appears to be undergoing consolidation on the daily chart. According to the pseudonymous analyst, WIF could then turn bullish after the consolidation phase. “It looks like WIF isn’t ready to take off the hat.” WIF is trading at $2.97 at time of writing,…

A widely followed cryptocurrency analyst and trader is forecasting that one blue-chip altcoin could rally by double-digits. The analyst pseudonymously known as The Crypto Dog tells his 782,000 followers on the social media platform X that Dogecoin (DOGE) could hit a price of $0.30, about 78% above the current level if Bitcoin (BTC) records a new all-time high. “Feel pretty good about DOGE actually.” Dogecoin, currently the ninth-largest crypto asset by market cap, is trading at $0.169 at time of writing. Turning to Bitcoin, The Crypto Dog says that the largest digital asset by market cap could be on the…

A widely followed crypto analyst believes one Ethereum (ETH) competitor could more than double in price. Crypto trader Michaël van de Poppe tells his 718,900 followers on the social media platform X that interoperability blockchain Polkadot (DOT) is poised to rally due to major network advances. He also says DOT is likely to see a boost from ETH’s upward momentum as well. “Polkadot did a retest at the crucial levels and wakes up slowly. Given their Polkadot 2.0 release and the JAM ( Join-Accumulate Machine) white paper and the correlation with ETH, I’m expecting a lot from them. Next target…

A top crypto trader thinks one Ethereum (ETH)-based decentralized finance (DeFi) token is an “obvious play” amid recent ETH developments. The pseudonymous analyst known as the Flow Horse tells his 216,500 followers on the social media platform X that the governance token of Ethena (ENA) looks promising. “Looking to go for round 2 of a shift in the pace downward and possible turnaround.” The Ethena Labs project includes the yield-earning “synthetic dollar” token USDe. The project aims to create a stable and scalable form of money in the crypto space without relying on traditional banking systems. ENA is trading at…

The U.S. Securities and Exchange Commission appears ready to pass eight spot Ethereum ETFs after expectations on their approval flipped overnight. The agency just approved form 19b-4 filings from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy simultaneously. Although the products have nearly obtained the full go-ahead, the SEC must approve the firms’ S-1 registration filings before trading can begin. Expectations on the approval of the ETFs turned on a dime when the agency reportedly changed its tune on the filings and began following procedures that preceded the approval of Bitcoin ETFs. Bloomberg analyst Eric Balchunas cautions…

The Supreme Court of the United States is ruling against crypto exchange Coinbase in the Dogecoin (DOGE) sweepstakes dispute. According to new legal documents obtained by Cornell Law, the Supreme Court unanimously ruled that the conflict between Coinbase’s sweepstakes contract and user agreement must be determined through the court system. As stated by Justice Ketanji Brown Jackson, “Arbitration is a matter of contract and consent, and we have long held that disputes are subject to arbitration if, and only if, the parties actually agreed to arbitrate those disputes. Here, then, before either the delegation provision or the forum selection clause…

The Financial Innovation and Technology for the 21 Century (FIT21) Act, a bill that would treat crypto assets as commodities provided their blockchain is decentralized enough, has passed the US House of Representatives. According to a new press release by the Financial Services Committee, the House has passed the new crypto bill, which would bolster consumer protections and give the Commodity Futures Trading Commission (CFTC) authority over digital assets. As stated by Republican Representative Patrick McHenry of North Carolina, the Chair of the Financial Services Committee, “Today, the House took a historic step by passing FIT21 with broad, bipartisan support.…

Uniswap (UNI) is fighting back against the U.S. Securities and Exchange Commission (SEC). The largest decentralized exchange by trading volume received a Wells Notice from the SEC last month, which indicates the regulator intends to take enforcement actions against the DEX soon. Marvin Ammori, the chief legal officer at Uniswap Labs, notes that the project submitted an official response to the SEC on Tuesday. Ammori argues that the SEC relies on a false assumption that nearly all crypto assets are securities. “But a token is merely a file format–like a PDF or JPEG. Tokens can represent any value, and overwhelmingly…