Author: The Daily Hodl

The venture capital and accelerator arm of the world’s largest crypto exchange by trading volume is leading an investment round on a new blockchain gaming token. According to a new announcement from Binance Labs, the crypto incubator led an investment round in the game finance (GameFi) publishing platform Pluto Studio. The platform’s first release, Catizen, was deployed on the Telegram TON blockchain. “Pluto Studio made waves in March this year with the launch of its flagship project, Catizen, a groundbreaking gaming bot on Telegram that seamlessly integrates Telegram with the TON blockchain. Catizen leverages Telegram’s vast user base to cut…

Long-time crypto bull Anthony Pompliano is predicting that altcoins are coming to Wall Street after the success of the Ethereum (ETH) exchange-traded fund (ETF). In a new interview on CNBC Squawk Box, the Professional Capital Management CEO says that the approval of the ETH ETF by the U.S. Securities and Exchange Commission (SEC) will open the floodgates for more crypto investment vehicles. Of course, the ETH ETF approval was only made possible by the Bitcoin (BTC) ETF which came before it. “I think the flows on the Bitcoin side, some have 10 to 15 to $19 billion in them. Real money…

Billionaire Mark Cuban reportedly believes Kamala Harris would take a more welcoming approach to business, cryptocurrency and artificial intelligence (AI) than the current US president. In a new report from Politico, the Shark Tank star says that the current Vice President and potential Democratic nominee for US president will usher in a more favorable crypto agenda. “The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service. Changing the policies changes the message and lets everyone know she is in charge and…

The highly anticipated spot Ethereum (ETH) exchange-traded funds (ETFs) have officially gone live for trading after months of delays. On Tuesday morning, ETFs from BlackRock, Fidelity, 21Shares, Invesco, Franklin Templeton, VanEck, Grayscale and BItwise hit the market, so far exceeding expectations according to some experts. According to Bloomberg’s ETF analyst Eric Balchunas, all of the Ethereum ETFs have done much more in volume than a “normal” ETF launch after the first 90 minutes. “Here’s where we’re at after 90 minutes. $361m total. As a group that number would rank them about 15th overall in ETF volume (about what TLT and…

A closely followed on-chain analyst says that one key indicator is illustrating the strength of Bitcoin’s (BTC) bull market. Pseudonymous on-chain analyst Checkmate tells his 95,600 followers on the social media platform X that the short-term holder spent output profit ratio (STH-SOPR) is signaling a sustained Bitcoin uptrend. The STH-SOPR tracks the profit or loss levels of all moved BTC during the last 155 days for the short-term holder cohort. According to Checkmate, the STH-SOPR dipped below the “1” level briefly before rebounding, indicating strong market fundamentals. “Bitcoin short, sharp STH-SOPR undercut of 1.0, followed by a break of the…

NBA legend and Hall of Famer Scottie Pippen is receiving thousands of social media responses after posting a crypto-related query. The retired six-time NBA champion posted a simple question on the social media platform X over the weekend: Ethereum (ETH) or Solana (SOL)? However, the Hall of Famer’s question didn’t receive a simple answer, yielding 5,600 replies, including a mishmash of different responses from prominent members of the crypto community. Some didn’t even chime in with an opinion on one of the top two smart contract platforms. For example, Jack Mallers, the chief executive and founder of the Bitcoin wallet…

One Ethereum (ETH) rival appears primed to closely track Solana’s (SOL) latest surge, according to a popular crypto trader. The pseudonymous analyst known as Inmortal tells his 214,500 followers on the social media platform X that the smart contract platform Avalanche (AVAX) is following SOL with “muscle memory, long and strong.” The trader shares two charts to show the identical price patterns of SOL and AVAX. The trader also notes that AVAX has entered its “final setup,” and he is currently targeting $42. Looking at the trader’s chart, he seems to predict that AVAX will rally after reclaiming a key…

A widely followed crypto strategist and trader believes Bitcoin (BTC) is gearing up to ignite a big breakout rally. Pseudonymous analyst The Crypto Dog tells his 805,600 followers on the social media platform X that Bitcoin appears to be mirroring a pattern witnessed in November 2020 when BTC sparked a parabolic rally from $14,000 to $69,000 in just a few months. “The last time BTC broke a level like this, we pumped 375%.” Looking at the trader’s chart, he seems to predict that Bitcoin’s breakout surge will begin after BTC takes out its immediate resistance at around $68,300. At time…

A widely followed crypto analyst is looking at historical price action to lay out a capitulation scenario for the Ethereum versus Bitcoin (ETH/BTC) pair. In a new video update, crypto strategist Benjamin Cowen tells his 803,000 YouTube subscribers that ETH/BTC could be in trouble if the Federal Reserve cuts rates in September and the pair follows the same pattern it did during the 2016 market cycle. “What’s really interesting about 2016 is when you look at [the chart], it swept [the lows at 0.015 BTC] in June whereas this cycle it [swept the lows at 0.045 BTC] in May, about…

The research arm of the leading crypto exchange by trading volume says that one growing sector of digital assets is far outpacing the rest. According to a new study by Binance Research, memecoins are driving crypto awareness in 2024. “Memecoins have driven a significant amount of activity among traders and captured a notable amount of attention within the crypto community. Considering that memecoins have been the top performing sector year-to-date and have returned a staggering 279%, it is hardly surprising that it has been a sector that has garnered much interest.” Coinbase’s Ethereum (ETH) layer-2 chain Base and ETH-competitor Solana…