Author: The Daily Hodl

A handful of crypto whales appear to have made substantial Ethereum (ETH) purchases in recent days, an indication the largest crypto holders could be turning bullish on the second-biggest digital asset by market cap. The crypto tracker Lookonchain notes that a whale wallet potentially belonging to Tron (TRX) founder Justin Sun withdrew 4,666 ETH worth $14.91 million from the top crypto exchange Binance on Monday. The whale had already purchased 132,054 ETH worth $420 million since April 8th. A new whale wallet also withdrew 7,182 ETH worth $23.06 million from Binance over the course of the day on Monday, according…

A popular crypto analyst says technical indicators are suggesting that the altcoin market is gearing up for a massive breakout. Pseudonymous analyst TechDev tells his 446,400 followers on the social media platform X that the altcoin market cap structure may be repeating a historic bullish pattern. “Altcoin accumulation. The most vertical leg since 2021 appears on deck.” Looking at his charts, the analyst suggests that the crypto market cap, excluding the top 10 digital assets, is repeating a pattern seen during the 2016 and 2021 market cycles when it broke out, retraced and then surged to a new top. The…

The Runes protocol launch is causing Bitcoin (BTC) daily fees to soar well beyond a prior all-time high (ATH), according to the crypto analytics firm IntoTheBlock. Lucas Outumuro, IntoTheBlock’s head of research, says on the social media platform X that Bitcoin transaction fees soared to $80 million on April 20th, 4x the prior ATH from more than six years ago. Runes is a new protocol developed by Casey Rodarmor, who also developed Ordinals. The project aims to make creating fungible tokens on Bitcoin more efficient. Says Outumuro, “The launch of Runes on Bitcoin has been absolutely insane… Daily fees set…

A decentralized cloud computing altcoin is soaring after Korea’s biggest crypto exchange announced support for the digital asset. Akash Network (AKT) shot up Tuesday from a low of $4 to a high of $6.74, a more than 68% increase after crypto exchange Upbit announced support. At time of writing, AKT has retraced slightly to $5.30 and is sitting at a market cap of $1.2 billion. Akash Network is a decentralized open-source cloud network that supports decentralized finance (DeFi) applications and organizations, as well as machine learning, blockchains and AI. Last month, AKT was listed for trading on top US crypto exchange…

The top US-based crypto exchange by volume is listing a new artificial intelligence (AI) altcoin. According to Coinbase via their social media platform X account Coinbase Assets, new crypto project Karrat (KARRAT) will be listed on the platform as an “experimental asset.” “Karrat (KARRAT) is now live on coinbase.com & in the Coinbase iOS & Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.” According to Coinbase, the exchange adds the experimental asset label “to certain tradable assets that are either new to our platform or have relatively low…

Early Bitcoin adopter Brock Pierce is revealing what he thinks is a “reasonable” price target for BTC as the flagship cryptocurrency moves into a new phase. In a new interview on Fox Business, Pierce, who’s also a co-founder of stablecoin giant Tether, says that the recent explosion in Bitcoin fees as new applications are built for its blockchain represents a bullish catalyst for the flagship cryptocurrency. “It’s what we’ve seen – Bitcoin had record fees during this halving because of a lot of what we call ‘layer-2’ technologies, the idea of building on Bitcoin. If you’ve heard of Ethereum it’s…

A closely followed crypto strategist believes that one memecoin is ready to witness mostly bullish price action. Pseudonymous analyst Inmortal tells his 212,700 followers on the social media platform X that Floki (FLOKI) looks primed to ignite bursts to the upside. Inmortal shares a chart suggesting that FLOKI had a failed breakdown after the meme token recovered a key support level at around $0.00015. “Price following my squiggly line perfectly. FLOKI pumped on 4/20. Don’t underestimate the power of memes. Now above KEY level, up only soon.”  Looking at the trader’s chart, he seems to suggest that FLOKI will soar…

A closely followed crypto strategist thinks that Bitcoin (BTC) is primed to launch the final steep rally of its parabolic trend. In a new video update, analyst Kevin Svenson tells his 142,100 followers on the social media platform X that Bitcoin is about to ignite the last leg of its parabolic rally that could see prices close to $100,000. “Bitcoin may be ready to play out the final vertical point on the parabolic trend, which is a big, big move. Bitcoin is currently sitting in base four. Once we break a new high that confirms base four, we could be…

Base’s creator Jesse Pollak is singling out one category of crypto assets that is helping in the adoption of the layer-2 network backed by Coinbase. Pollak says in a new video posted on the social media platform X that memecoins are helping “onboard thousands and thousands of people” into the Base ecosystem. “I think every day from all the conversations I’m having on the ecosystem, memes are one of the big drivers for actually bringing new people in. And obviously, speculation plays some role in this.” On how memecoins are facilitating the adoption of Base, Pollak says, “I think the…

A popular trader known for several accurate crypto market calls is outlining his Bitcoin forecast after the BTC halving last week. The pseudonymous analyst known as Dave the Wave shares a chart with his 147,000 followers on the social media platform X that indicates Bitcoin could reach $169,500 in the last quarter of 2024. According to Dave the Wave, Bitcoin has consistently printed diminishing returns after every bull market since 2012. For the current cycle, the trader expects BTC to generate gains of over 626% from the bottom – a significant reduction from the 1,275% gains witnessed during the 2020…