Author: The Daily Hodl
The financial services giant Cantor Fitzgerald is predicting the stock market will see rallies in the next one to two weeks. In a new interview on CNBC Television, Eric Johnston, a macro strategist at Cantor Fitzgerald, says that he expects a short-term bounce in the stock market during the next couple of weeks even though he says the equity environment looks “fairly poor.” “You have an economy that is clearly slowing. Uncertainty is quite high… But within that view, we think we’re going to get a tactical rally here, probably somewhere in the range of 3% to 5% in the…
Blockchain oracle service Chainlink has undergone a quarterly token unlock of 19 million LINK worth over a quarter of a billion dollars. According to pseudonymous on-chain analyst Ember CN, two Ethereum (ETH) addresses unlocked and transferred 19 million LINK tokens worth $262 million to new wallets. Of the unlocked tokens, Ember CN says $205 million worth of LINK was sent directly to Binance, the world’s largest crypto exchange by trading volume. An additional $57 million worth of LINK was transferred to a separate multi-signature address. Says Ember CN, “Every three months, Chainlink’s non-circulating supply address will unlock about 10 to…
A crypto strategist known for making timely Bitcoin calls says BTC must clear one price area to signal the beginning of a fresh leg up. In a new video, pseudonymous analyst Credible tells his 69,000 YouTube subscribers that he’s looking at Bitcoin’s immediate resistance at $94,000. According to the analyst, Bitcoin’s downside momentum will likely persist as long as BTC trades below what he believes is a “local supply” zone. “We’re looking for some sort of a bottoming structure to form here, some sort of a shift in market structure for a potential reversal to the upside. And that gets…
The layer-1 blockchain MultiversX (EGLD) continues to lead the digital asset gaming sector in the realm of development activity, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that MultiversX, formerly known as Elrond, registered 212.17 notable GitHub events in the past 30 days. The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) ranks second, clocking 168.93 events, and the Ethereum layer-2 protocol Skale Network (SKL) is a distant third with 41.07. MultiversX and Decentraland have occupied the number one and two spots in previous months as well, according to Santiment. Santiment notes that it…
Crypto trader Ali Martinez is highlighting a layer-one altcoin that could appreciate by 30x. Martinez tells his 132,300 followers on the social media platform X that Solana (SOL) is developing a cup and handle pattern on the weekly time frame that could lead to a 2,915% surge. In technical analysis, a cup and handle pattern forms in the shape of a cup and is typically considered bullish if, after forming the cup’s handle, the price breaks out to the upside. “If confirmed, this setup could propel it toward $3,800.” Solana is trading at $126 at time of writing. Next up…
A widely followed crypto analyst and trader is warning that an altcoin market bounce may end up being short-lived. In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 243,900 followers on the social media platform X that alts may give up gains after bouncing based on historical precedence. He also says Bitcoin (BTC) may soon flip $84,000 into support and that the flagship crypto asset could maintain bullish momentum by breaking through the $89,000 level. “BTC looks like $84,000 is the first test that is going to break (to the upside) and we’re ok in that department. $89,000…
United Kingdom prosecutors allege an officer working for the country’s National Crime Agency (NCA) stole 50 Bitcoin (BTC) back in 2017. The Crown Prosecution Services authorized Merseyside Police to charge NCA officer Paul Chowles with 11 counts of concealing, disguising, or converting criminal property, three counts of acquiring, using or possessing converting criminal property and a single count of theft. The 50 BTC was priced at £60,000 ($77,658) back in 2017 and is worth £3.26 million ($4.2 million) at time of writing. Chowles, 42, is set to appear at Liverpool Magistrates’ Court on April 25th. The officer’s charges materialized less…
An analyst who accurately called the crypto market bottom in 2022 believes that one large-cap digital asset will be the fastest horse should conditions become bullish again. In a new strategy session, the analyst pseudonymously known as DonAlt tells 66,000 subscribers of the TechnicalRoundup YouTube channel that he believes XRP has more upside potential and could outperform other crypto assets including Ethereum (ETH). “I’m a big XRP believer in the sense that I think the XRP price is going to go up, just generally. I think it’s the best. And I’ve been saying this since [it was priced at] $0.60.…
The widely followed cryptocurrency analyst Benjamin Cowen says Bitcoin’s (BTC) bull cycle would likely be over if it enters one key level. In a new video, Cowen tells his 886,000 YouTube subscribers that Bitcoin may be repeating a similar pattern from 2017, when it tested the prior year high. However, he warns that if Bitcoin drops below the 2024 low of about $71,000 and enters the $60,000 range, the bull cycle may be over. “In 2017 Bitcoin had a drop in early 2017 where it tested the 2016 high. And it happened, by the way, fairly early on. I would…
A Solana (SOL) layer-2 scaling solution defied the wider crypto market slump and surged by more than 41% this week following a flurry of recent exchange listings. Solayer (LAYER) is a blockchain network designed for high throughput and near-zero latency. The network bills itself as “infinitely scalable” and is designed to handle 1 million transactions per second (TPS). Explains the project, “Solayer is a protocol for developers who want to enhance their decentralize application’s performance on Solana. It aims to increase the reliability of network access while reducing associated costs by up to 50x.” Solayer’s new native token, LAYER, is…