Author: The Daily Hodl

The US government has reportedly moved more than $2 billion worth of Bitcoin (BTC) seized from the illicit online marketplace known as the Silk Road. The blockchain de-anonymizing platform Arkham Intelligence notes the government sent 10,000 BTC worth $669.35 million to one address and 19,800 BTC worth $1.33 billion to another. Arkham says the coin shifting likely represents “a 10,000 BTC deposit to an institutional custody/service.” The move comes as multiple presidential candidates outline their plans for the government’s Bitcoin holdings. Former President Donald Trump said over the weekend that he plans to stop the government from selling off its…

Macro expert Luke Gromen says the winner of the November US presidential election can do something to effectively tame soaring inflation rates. In a new interview on the What Bitcoin Did YouTube channel, podcaster Peter McCormack asks Gromen what the next US president can do to strengthen the dollar and reverse the trajectory of “massive inflation.” Gromen says one way to combat inflation now is to offer long-term Treasuries that come with low yields. According to the macro guru, investors will flock to the offering even if the interest rate is low if the participants are rewarded with Bitcoin (BTC).…

A popular crypto analyst and trader thinks a trio of memecoins including Pepe (PEPE) are gearing up for big breakout rallies. Pseudonymous analyst Altcoin Sherpa tells his 219,100 followers on the social media platform X that Ethereum (ETH)-based altcoin PEPE and Solana (SOL)-based meme tokens dogwifhat (WIF) and Popcat (POPCAT) are threatening to take out their immediate resistance levels. “Big-cap memes loading for the next leg up. PEPE, WIF, POPCAT.” Based on the trader’s chart, he seems to suggest that PEPE will break out after soaring above resistance at $0.0000128. At time of writing, PEPE is worth $0.0000177. Looking at WIF,…

The investment arm of Binance has put new capital into aPriori, a startup that aims to create liquid staking solutions for the Monad blockchain. In a recent announcement, Binance Labs says the investment will assist aPriori in expanding its team and research to optimize the high-performance network for widespread adoption. According to the press release, aPriori aims to enhance the Monad user experience by reducing fees and boosting network efficiency through its Miner Extractable Value (MEV) platform. The company says that its approach will also generate new incentives for validators. Says Yi He, co-founder of Binance and head of Binance…

Ki Young Ju, the CEO of blockchain analytics platform CryptoQuant, is predicting when the ongoing Bitcoin (BTC) bull market will reach its peak. Ju tells his 356,900 followers on the social media platform X that Bitcoin’s bull market could continue for another year based on BTC’s realized price for accumulation addresses. “Bitcoin bull cycle likely until mid-2025. Old whales take profits during bull markets. Their selling brings new capital into accumulation addresses, raising realized prices. Past cycles had profit realization periods of about 18 months. It started four months ago this time.” The realized price is the average price of…

An original Ethereum investor has suddenly moved millions of dollars of ETH after remaining inactive for years, according to blockchain tracking firm Lookonchain. Lookonchain notes that the whale participated in Ethereum’s 2014 initial coin offering (ICO) when they received 2,000 ETH, currently worth about $6.7 million. According to the firm, the whale just moved more than half of their dormant ETH holdings, 1,111 ETH worth $3.7 million, to a new wallet. The transaction occurred nine years after the Ethereum network project launched on July 30, 2015. Ethereum is trading for $3,319 at time of writing, up slightly in the last…

Quant analyst PlanB is predicting a big move for Bitcoin (BTC) will unfold by the end of this year, based on several indicators. PlanB tells his nearly 2 million followers on the social media platform X that he’s watching Bitcoin’s miner revenue metric. The analyst’s chart suggests that historically, Bitcoin goes on parabolic run-ups after miner revenue bottoms shortly after halvings, represented by the dark red dots. Based on the correlation between price and miner revenue, PlanB says Bitcoin is set to double in price between now and late December. “Miner revenue bottomed after April 2024 halving. I expect bitcoin…

The Department of Motor Vehicles (DMV) for the most populous state in the US is placing its vast and complex vehicle registration system on the blockchain. According to a new announcement from Ava Labs, the development firm behind Avalanche (AVAX) the State of California is using the chain to update its title transfer system. “What else can an Avalanche L1 do? The California DMV is launching its own chain on Avalanche to modernize the vehicle title transfer experience for CA’s 39M+ residents.” In an accompanying post, Ava Labs says the new system will allow the title transfer process to take…

Independent presidential candidate Robert F. Kennedy wants the US government to buy and hold Bitcoin (BTC) as a “strategic asset.” If elected, Kennedy says he’ll sign an executive order on his first day in office directing the U.S. Department of Justice (DOJ) and the Marshals Service to transfer the approximately 200,000 BTC in their possession to the Department of the Treasury for holding. He also says he’ll direct the government to buy more BTC. “On day one as president, I will sign another executive order directing the US Treasury to purchase 550 Bitcoin daily until the US has built a…

Billionaire Mike Novogratz’s crypto firm Galaxy Digital is reportedly planning to invest more than $100 million into digital asset startups. According to a new report by Bloomberg, Galaxy Digital’s new Galaxy Ventures Fund I LP has so far raised $113 million to benefit startups focusing on crypto software, infrastructure and financial applications. The venture capital fund, a part of the company’s Galaxy Ventures unit, aims to raise a total of $150 million and invest in about 30 different startups. Galaxy has previously invested in startups for years using its own resources, ranging between $30 million and $50 million annually. The…