Author: The Daily Hodl

A popular crypto trader says the decentralized oracle network Chainlink (LINK) is flashing a short-term bullish signal. Ali Martinez tells his 59,300 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator recently presented a buy signal for LINK on the daily chart, which he says suggests “a potential one to four-day upswing.” Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. LINK is trading at $13.81 at time of writing. The 18th-ranked crypto asset by market cap is up…

A decentralized finance (DeFI) protocol has been hacked to the tune of millions of dollars over the Ethereum (ETH) and Arbitrum (ARB) blockchains. In a new announcement, cybersecurity firm Cyvers says that DeFi platform Hedgey Finance has been breached by bad actors who took at least $1.9 million worth of funds that were converted to the stablecoin Dai (DAI). “Hedgey Finance has experienced a security breach with their Hedgey Token Claim Contract! Total loss is around $1.9 million. Attacker is funded by ChangeNOW_io. All stolen funds are swapped to DAI and transferred to an [external address].” According to Hedgey Finance,…

A widely followed crypto analyst says Bitcoin relief is on the way as the imminent BTC halving draws closer. The BTC halving is a pre-programmed event that occurs every four years, slashing BTC mining rewards in half. Analysts and experts anticipate the next BTC halving should occur in the coming days or even hours. One analyst, Michaël van de Poppe, tells his 712,800 followers on the social media platform X that BTC has an opportune shot to fight back from the $61,000 region. “Pretty significant chance Bitcoin will be bouncing from this area upwards for some relief. The hype is slowly fading…

Binance has converted all of the crypto in its $1 billion emergency insurance fund into the stablecoin USDC. The top global crypto exchange established the “Secure Asset Fund for Users” (SAFU) in 2018 to protect Binance users from “extreme situations.” The fund has typically attempted to maintain a balance worth $1 billion, though fluctuating crypto prices have impacted the value of its holdings over the years. In late 2022, the fund held $700 million worth of Binance USD (BUSD) and BNB, as well as $300 million worth of Bitcoin (BTC). Early last year, however, BUSD’s issuer, Paxos, received a “Wells…

Closely followed quant analyst PlanB is predicting that the cycle top for Bitcoin (BTC) will be more than 4x the current value. The pseudonymous analyst tells his 1.9 million followers on the social media platform X that Bitcoin could put up massive gains after the April 19th halving event based on historic precedence. He believes the halving event, when miners’ rewards are cut in half, will once again be a bullish factor for Bitcoin and predicts the crypto king will reach a cycle top of about $300,000 by 2025. “In my opinion, this Bitcoin halving will not be different: All…

Stablecoin issuer Tether (USDT) is launching its dollar-pegged asset over The Open Network (TON), giving it access to the user base of the popular messaging platform Telegram. In a new article, Tether says that it is launching both USDT and Tether Gold (XAUT), its gold-backed crypto asset, over the layer-1 protocol TON, bringing its total coverage to 15 blockchains. According to Tether, Telegram’s instant messaging system can be used to quickly send peer-to-peer payments across the globe. “The TON blockchain works with Telegram, meaning USDT and XAUT on TON have the potential to provide a simple, borderless experience for peer-to-peer…

A closely followed crypto strategist believes if Dogecoin (DOGE) takes off, then another memecoin stands to benefit from the hype. Pseudonymous analyst Inmortal tells his 212,500 followers on the social media platform X that Floki (FLOKI) is poised to have a breakout on April 20th, dubbed “DOGE Day” by the memecoin’s supporters. “Will pump DOGE on 4/20? If yes, FLOKI will follow. Confirmation above 0.00016.” Looking at the analyst’s chart, he suggests a FLOKI breakout would be confirmed if it flips the $0.00016 level into support. FLOKI is trading for $0.0001385 at time of writing, up nearly 2% in the last…

A cryptocurrency analyst and trader is issuing a warning on Bitcoin (BTC) amid a significant market correction. The analyst pseudonymously known as Rekt Capital tells his 73,400 YouTube subscribers that Bitcoin is currently experiencing a correction which typically occurs ahead of the halving. “So we’ve been talking about this danger zone for a while and we’ve seen retracement in that danger zone. And, in fact, we are in the thick of this danger zone, we’ve been in this danger zone for a month or so. And we’ve already seen two pre-halving retraces.” According to the pseudonymous analyst, going by previous…

A crypto investment firm backed by financial giant Citadel Securities is reportedly eyeing a $1 billion valuation after launching its latest round of fundraising. According to a new Bloomberg report, anonymous people familiar with the matter say that Hidden Road Partners, a startup prime brokerage focused on digital assets, is raising funds in a Series B equity round that will bring its overall valuation to nearly $1 billion. Per Bloomberg, Hidden Road, which began in 2018 and completed a $50 million fundraising round in 2022, also provides services for other asset markets, such as precious metals and foreign exchange. The…

A widely followed crypto analyst and trader is expressing bullish sentiment on a Solana (SOL) competitor while offering his forecast on three altcoins. Starting with Sei (SEI), the analyst pseudonymously known as Altcoin Sherpa tells his 215,200 followers on the social media platform X that the native token of the layer-1 blockchain “could be a decent trade” as it sits at a pivotal area. Based on the analyst’s chart, SEI is resting on the 0.618 Fibonacci retracement level and slightly below the 200 exponential moving average (EMA) on the daily chart. The Fibonacci retracement levels are based on Fibonacci numbers…