Author: The Daily Hodl
A closely followed crypto analyst believes that Bitcoin (BTC) and other digital assets are still in just the early stages of a secular bull market. Jamie Coutts, the chief crypto analyst at Real Vision, predicts that adoption will continue to increase for Bitcoin over decades, similar to the lifecycle of the NASDAQ. He notes similarities between the launch of Bitcoin in 2009 and the NASDAQ’s launch in the 1970s, and says that “2009 is to Millennials what 1982 was to Boomers.” “The NASDAQ launched in the 1970s but wasn’t considered a serious investment venue until the mid-1980s or early 1990s.…
Solana (SOL) could be on the verge of a macro uptrend, according to one popular crypto analyst. The pseudonymous trader known as Rekt Capital tells his 483,100 followers on the social media platform X that the Ethereum (ETH) competitor has performed a “green circled weekly candle close.” “Successful retest of the red area as new support could enable trend continuation to the upside over time.” SOL is trading at $172.20 at time of writing. The 5th-ranked crypto asset by market cap is down more than 3% in the past 24 hours but up more than 6% in the last week.…
Prominent privacy-focused email platform Protonmail is releasing its very own native Bitcoin (BTC) wallet. In a new thread on the social media platform X, the encrypted email provider announces the launch of its new crypto wallet allowing users to send BTC via email. “Today we’re launching Proton Wallet, an open-source, end-to-end (ETE)-encrypted, and self-custodial Bitcoin wallet. With features like Bitcoin via email, we hope to be a safer and easier way for Bitcoin newcomers to get started.” According to the company, the new feature will cut down on disastrous errors that novice crypto users commonly make. “Bitcoin transactions are permanent…
The bankrupt crypto exchange Mt Gox has been spotted moving billions of dollars worth of Bitcoin following the successful distribution of BTC to its creditors. On Tuesday, Dave Ripley, CEO of Kraken, which was selected to facilitate the transfer of coins back to creditors, announced that a successful distribution of BTC and Bitcoin Cash (BCH) had been completed. Shortly after, blockchain “de-anonymizing” platform Arkham spotted the movement of at least $2.47 billion worth of coins, much of which ended up in addresses linked to crypto exchange Bitstamp. Mt Gox still holds over $5.32 billion worth of BTC, according to Arkham.…
Coinbase is serving as a custodian for eight of the nine newly approved Ethereum (ETH) exchange-traded funds (ETFs), according to Brian Armstrong, the exchange’s chief executive. Nine Ethereum ETFs kicked off trading in the US on Tuesday, including products from BlackRock, Fidelity, 21Shares, Invesco, Franklin Templeton, VanEck, and Bitwise, as well as two different funds from Grayscale. Of those newly approved ETFs, only Fidelity isn’t tapping Coinbase as a custodian, with the firm choosing to use itself instead, according to a graphic shared by James Seyffart, an ETF research analyst at Bloomberg Intelligence. VanEck names Gemini as a primary custodian…
Coinbase’s market leadership in the US is under threat, according to crypto market data analytics firm Kaiko Research. In a new report, Kaiko Research says that the US crypto exchange landscape has undergone a “shift” with a relatively new entrant Bullish managing to garner increased market share to the point of gaining an advantage over Coinbase on some digital assets. “When it comes to Bitcoin (BTC) and Ethereum (ETH) trading Bullish now has comparable trade volumes to Coinbase. The relatively newer exchange has even eclipsed Coinbase BTC and ETH volumes at times this year. Bullish, which was launched at the…
Asset management giant Bitwise is planning to donate some of its Ethereum (ETH) exchange-traded fund (ETF) profits to the network’s developers. With the Bitwise Ethereum ETF (ETHW) trading on the New York Stock Exchange starting Tuesday, the company is committing to donate 10% of profits earned to benefit the ETH ecosystem. “ETHW profits will be donated to two organizations: Protocol Guild, a grassroots funding organization that supports more than 170 core contributors to Ethereum layer-1 protocol research and development, and PBS Foundation, a non-profit that funds open-source Ethereum block relays and surrounding research.” Bitwise’s Chief Technology Officer Hong Kim says…
The wealthiest person in the world is warning that the United States of America is about to become insolvent. Tesla CEO Elon Musk shares an image on the social media platform X showing that the US dollar is devolving into the Zimbabwean dollar – a currency that witnessed rapid devaluation due to excessive money printing. Before the currency collapsed in 2009, the country’s central bank was issuing notes to the tune of $100 trillion with the price of a loaf of bread hitting $300 billion. Says Musk, “Where are we with dollar value destruction, you might ask?” Elon Musk’s extremely…
The managing partner and the head of research at Fundstrat Global Advisors is predicting that Bitcoin’s (BTC) market cap will one day be as much as gold’s. In a new interview with Natalie Brunell, Lee says that Bitcoin’s market cap could soar more than 1,100% from the current value, reaching $16 trillion. Lee believes investors will increasingly flock to Bitcoin as a more useful store of value than gold. “I think that as a minimum target for Bitcoin, when does Bitcoin have to reevaluate whether it’s peaking, is when the value of Bitcoin exceeds the value of above ground gold…
One Solana (SOL)-based meme token could be facing a correction after hitting new all-time highs over the weekend, according to the crypto analytics firm Santiment. Santiment notes that Popcat (POPCAT) drew attention from mainstream traders after skyrocketing from trading at around $0.469 on July 11th to a new all-time high of $0.987 on Saturday, an increase of more than 110%. Explains the analytics firm, “Historically, this level of sudden interest as a result of a price surge has a high chance of leading to a correction, where better entry points are likely.” The correction may already have begun: POPCAT is…