Author: The Daily Hodl

A widely followed crypto strategist believes that one Ethereum (ETH) competitor is gearing up to witness a breakout rally. Pseudonymous analyst The Crypto Dog tells his 775,100 followers on the social media platform X that he’s bullish on the smart contract protocol Near (NEAR). The analyst shares a chart suggesting that NEAR is threatening to take out its diagonal resistance on the daily chart. “NEAR makes a move soon. Maybe not today but soon. BTC flat, SOL red, NEAR green makes me pay attention.” Even though Near is still struggling to move above the diagonal resistance, the analyst says that…

A widely followed analyst and trader is expressing bullish sentiment on one Ethereum (ETH) competitor while offering his forecast on gaming altcoin Beam (BEAM). The analyst pseudonymously known as Altcoin Sherpa tells his 213,800 followers on the social media platform X that the price of the native token of the layer-1 blockchain Solana (SOL) could “go way higher”. According to Altcoin Sherpa, Solana offers potential accumulation opportunities at the current price. “SOL: It’s very simple- buy within this $168 – $208 range and don’t think too much about the price for the next few months.” Solana is trading at $187…

The research branch of top US-based crypto exchange platform Coinbase says that going forward, investors are likely to aggressively purchase Bitcoin (BTC) when it dips. In a new blog post, Coinbase Institutional says that gold is a winner this cycle due to rising economic and geopolitical concerns. According to Coinbase, the success of gold can be attributed to both the threat of inflation and the anticipation that the Federal Reserve will begin its rate-cutting cycle. “In this environment, gold has been the largest winner, printing new highs amidst increased central bank buying, heightened geopolitical risks, and reflation concerns. What makes…

Ethereum (ETH) rival Fantom (FTM) is launching a new “canonical” stablecoin in partnership with USDC-issuer Circle. Fantom will utilize the cross-chain messaging protocol Wormhole (W) to roll out the new stablecoin, USDC.e. Explains the Fantom Foundation, “USDC.e on Wormhole is bridged from native USDC, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future. It will be the official, endorsed stablecoin of the Fantom ecosystem (and all future network upgrades).” This initiative reduces liquidity fragmentation, introduces stability, and provides additional on-ramps to the ecosystem. By leveraging the Wormhole Native Token…

A top-100 altcoin has more than doubled up during the last week as it announces a host of new partnerships and features. New data reveals that Core (CORE), a layer-1 blockchain that leverages the advantages of Bitcoin’s (BTC) proof-of-work network, has skyrocketed over the last seven days. On March 29th, CORE was trading for $1.07. However, on April 1st, it shot up to $4.10, a staggering 283% gain. However, CORE has since retraced and is trading for $2.75 at time of writing. Earlier this week, CORE’s decentralized autonomous organization (DAO) announced the addition of two features to the blockchain –…

A trader is seeing over 27,600% in profits after investing in a memecoin launched on the Ethereum (ETH) layer-2 scaling solution Base. According to blockchain tracking firm Lookonchain, one smart trader turned $18,000 into $5 million – a gain of 27,677% – after purchasing Degen (DEGEN) in January. “Only invested 7.35 ETH ($18,000) on DEGEN, this trader made ~$5 million, a gain of 272x! He spent 7.35 ETH ($18,000) to buy 260 million DEGEN on January 15th and January 21st. Then sold 102.5 million DEGEN for 1.26 million USDC, with 157.5 million DEGEN (3.75 million) left.” DEGEN, which has a…

PayPal just rolled out a new service that allows users to fund their cross-border money transfers using PayPalUSD (PYUSD), the US dollar-pegged stablecoin that the online payments giant unveiled in August last year. In a new statement, PayPal says that US users of remittance provider Xoom can now convert the PYUSD in their PayPal account to US dollars and use this as a funding source to send money to friends and families in approximately 160 countries. When a user selects the new funding option, Xoom will convert the PYUSD in the linked PayPal cryptocurrency hub to USD without a crypto…

The parent company of MetaMask, one of the world’s most popular crypto wallets, is urging the U.S. Securities and Exchange Commission (SEC) to approve spot market Ethereum (ETH) exchange-traded funds (ETFs). In a new letter to the SEC, Consensys asks the regulatory agency to approve spot market ETH ETFs as Ethereum’s proof-of-stake consensus mechanism, which it transitioned to in 2022, is safer than Bitcoin’s (BTC) proof-of-work system, according to the firm. Consensys notes the SEC had previously asked for public commentary about how to address the “unique concerns” associated with Ethereum when it comes to fraud and manipulation. In response,…

Crypto hedge fund Pantera Capital, which has over $5 billion in assets under management, has reportedly seen its Liquid Token Fund appreciate by 66% during Q1 2024. According to a new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the first quarter with massive gains due to the rise of digital assets such as smart contract platform Solana (SOL), decentralized derivatives exchange Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open source blockchain Stacks (STX). Pantera’s success partially stemmed from having reduced exposure to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.…

A widely followed crypto analyst is detailing when he believes Ethereum (ETH) and altcoins could outpace Bitcoin (BTC). In a new video update, crypto strategist Jason Pizzino tells his 321,000 YouTube subscribers that the altcoin market is setting up for a massive rally – with the ETH/BTC pair as its proxy. “Still seems like the market is building for those mega 37x potential returns for altcoins. [ETH/BTC] is a bit of a proxy for the altcoin pump.” According to Pizzino, if history repeats itself and ETH/BTC behaves the same way it did the last time Bitcoin hit its 2021 cycle…