Author: The Daily Hodl

A widely followed cryptocurrency analyst is issuing a warning on a leading memecoin while outlining the path forward for Ethereum (ETH) and XRP. The analyst pseudonymously known as Credible Crypto tells his 405,000 followers on the social media platform X that the memecoin Pepe (PEPE) has held up “quite well” amid a wider market downturn. The pseudonymous analyst, however, says he is bearish on Pepe over the long term. “I would not be surprised if we see another leg up to take some untapped liquidity before the larger move down continues.” Based on Credible Crypto’s chart on the four-hour time…

Popular on-chain analyst Willy Woo is predicting that Bitcoin (BTC) will ultimately hit a massive value for one key reason. Woo tells his 1.1 million followers on the social media platform X that Bitcoin could capture 3% of the total wealth assets and soar more than 975% from the current value. “Nobody knows what the ultimate price of Bitcoin will be but simple maths can give us an upper bound. All wealth assets is $500 trillion. If BTC captured all of this (never going to happen) it’s $24 million per coin (today’s value before future inflation adjustment). The question is…

A closely followed crypto analyst believes that one Ethereum (ETH) competitor is gearing up for a massive breakout. Jamie Coutts, the chief crypto analyst at Real Vision, says that Solana (SOL) is printing a bullish pattern against Bitcoin (BTC) based on the simple moving average (SMA) crossover on the daily chart. “Solana’s relative strength is quite something. After consolidating against king Bitcoin, it looks like a breakout is on the horizon.” The analyst shares a chart that suggests the SOL/BTC pair is entering an uptrend after the shorter-term SMA crossed the longer-term SMA, which has signaled rallies in the past.…

A Singapore-based crypto exchange is launching a new platform to support up-and-coming digital asset projects. In a new press release, BingX says it’s launching BingX Labs, a new crypto project incubator that aims to help up-and-coming crypto projects with high potential efficiently distribute their tokens. According to the press release, BingX is interested in projects deemed to “exhibit strong marketing, user acquisition potential, and innovative technical solutions,” though no specific digital assets were mentioned. The firm says it will offer market-making, technical support, and strategic consulting services to clients. “The lab is open to collaborating with successful and experienced Web3…

The chief investment officer (CIO) of Bitwise Asset Management Matt Hougan is saying that there’s “big money” coming into the crypto space. In a new interview on the Wolf of All Streets channel, Hougan says that spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are likely to register massive inflows over the coming months. “I think people need to keep their eyes on Q3 and Q4 as it regards these ETFs. We saw the Bitcoin ETF explode out of the gate in January, we saw flows slow down a little in Q2 although they’re still coming in, we saw…

One widely followed crypto analyst says the native token of the XRP Ledger (XRPL) is on the verge of a rally. Crypto trader Ali Martinez tells his 68,700 followers on the social media platform X that XRP just needs to break through $0.90. “XRP has been consolidating within a symmetrical triangle for six years! A bullish breakout could occur if XRP surpasses $0.90.” XRP is worth $0.587 at time of writing, down 10% over the last 24 hours but still up 22% over the last 30 days. Looking at blockchain oracle Chainlink (LINK), Martinez turns to a technical analysis tool…

A top cryptocurrency analyst and trader is warning that Bitcoin (BTC) could flip bearish if one key support level is lost. The analyst pseudonymously known as DonAlt tells the 61,600 subscribers of the Technical Roundup YouTube channel that if Bitcoin fails to hold $63,000 as support on the weekly chart it could plummet in value. “This was the trigger to be bullish – $60,000 reclaimed… And then it went all the way back to top of the range, actually. And now it’s getting rejected. And the long trigger, the bullishness that you should have from the range reclaim, the $60,000…

The venture capitalist arm of the world’s largest crypto exchange by volume says that it’s investing into a modular Cosmos (ATOM)-based layer-1 project. In a new blog post, Binance Labs says it’s investing an unspecified amount into Particle Network as a means of addressing user and liquidity fragmentation, which is when available trading volume is spread out over multiple networks, resulting in splintered liquidity pools. “The number of blockchain networks is rapidly increasing, with a growing proliferation of layer-1 and layer-2 chains across various ecosystems. This chain-dense approach to scalability leads to highly fragmented user bases and liquidity, resulting in…

Federal securities regulators are suing the founder of the social media project BitClout, now known as Decentralized Social (DeSo). In its complaint, the U.S. Securities and Exchange Commission (SEC) alleges that since November 2020, Nader Al-Naji raised more than $257 million from unregistered offers and sales of the platform’s token, BTCLT. The regulator says that despite claiming that investor funds will not be used to compensate him or other BitClout employees, Al-Naji used more than $7 million of the proceeds on personal expenditures, which include rentals for a Beverly Hills payment and extravagant cash gifts. The SEC also accuses Al-Naji…

Liquidity across crypto exchanges has surged this year, according to the digital asset analytics firm Kaiko. Kaiko notes in a new analysis that an increase in trading volume and improving sentiment drove that jump in liquidity, which has been particularly prevalent for Bitcoin (BTC) markets in the US. “The approval of spot BTC ETFs in the US this year has likely contributed to the increase, as more institutional firms participate in the market. US exchanges now account for over 60% of BTC’s 1% market depth, up from around 45% at the beginning of 2023.” The analytics firm also notes that…