Author: The Daily Hodl
A new validator client for the Solana (SOL) blockchain is about to launch a new $1 million bug bounty program this week. Firedancer aims to improve the blockchain’s transaction processing speed, scalability and efficiency and is slated to launch sometime next year. The Solana validator client’s new bug bounty will award up to $1 million worth of the stablecoin USDC to anyone who can unearth bugs on Firedancer v0.1. The program, which will be run with the bug bounty platform Immunefi, is scheduled to start on Wednesday and run until August 21st. The pseudonymous Firedancer engineer known as CantelopePeel also…
The German government is keeping Bitcoin traders on the edge of their seats, relocating thousands of BTC in just one day. The blockchain “de-anonymizing” platform Arkham reports that the German government moved more than 16,000 BTC worth over $915 million in a 24-hour period. Arkham initially spotted the German government shifting hundreds of millions of dollars in BTC to various addresses mostly belonging to crypto exchanges and market makers. “Today, the German Government sent 2,738.7 BTC ($155.3 million) to likely exchanges/market makers including Kraken, Cumberland, 139Po (likely deposit for institutional/over-the-counter service) and address bc1qu.” In an update, Arkham says the…
A closely followed crypto analyst and trader is warning that Bitcoin (BTC) could correct deeper in the near term. Pseudonymous trader The Flow Horse tells his 220,900 followers on the social media platform X that he believes Bitcoin may decline to the lower $50,000 range. “Unhedged some 20% of those $69,000 sells because although I think we go deeper, I know the only prices I can guarantee are the present. If we have a strong reclaim above $60,000, I will long it all with extra exposure. If we continue down toward low $50,000s, I will tranche buys and evaluate on…
A crypto project that raised 820,000 Ethereum in a 2016 initial coin offering (ICO) recently sold millions of dollars worth of ETH on a handful of exchanges, according to the digital asset tracker Lookonchain. Golem Network (GLM) is an open-source platform that aims to enable decentralized access to computing power. Lookonchain notes the project raised its large ETH stack through an ICO in November 2016, when the price of ETH was only $10.20. Lookonchain says Golem sold 24,400 ETH worth $72 million on the crypto exchanges Binance, Coinbase and Bitfinex over a three-day period. The project still holds 127,634 ETH…
A widely followed crypto strategist believes that Bitcoin’s (BTC) consolidation in the past few months looks similar to a price pattern that foreshadowed last year’s parabolic surge. In a new strategy session, analyst Jason Pizzino tells his 330,00 YouTube subscribers that Bitcoin’s consolidation since March is reminiscent of its price action last year when BTC witnessed mostly sideways price action for six months before igniting a 3X ascent. “This is looking pretty similar to the previous move in 2023. You’ve got about six months in this range before it absolutely pumped out of that zone.” Pizzino also says that the…
A closely followed crypto strategist believes that the current market correction is setting up Ethereum (ETH) for a parabolic surge at the end of the year. Pseudonymous analyst Inmortal tells his 214,800 followers on the social media platform X that Ethereum will likely consolidate between $4,000 and $2,800 in the coming months. The trader shares a chart suggesting that Ethereum will witness a year-long parabolic rally starting in October that will eventually send ETH to a new all-time high at around $8,000. “Capture this. ETH.” At time of writing, Ethereum is worth $2,903, down over 4% on the day. Looking…
Crypto firm Galaxy Digital is forecasting how Ethereum (ETH) exchange-traded funds (ETFs) will stack up to Bitcoin (BTC) ETFs. According to a new research post from Charles Yu, the firm’s vice president of research, Ethereum ETFs will see roughly one-third of the inflows of similar Bitcoin products. To reach their estimate, Yu says the firm compared the two assets’ market cap, open interest levels and volume in futures markets, and the total assets under management (AUM) across existing funds. “Based on the above, we think that ether spot ETF inflows will be approximately 3x less than US spot bitcoin ETF…
A crypto whale is moving hundreds of millions of dollars worth of Bitcoin (BTC) to Binance, the world’s largest crypto exchange platform by volume. New data from market intelligence firm Lookonchain shows the deep-pocketed investor started moving massive amounts of Bitcoin to Binance on June 27th – and just moved hundreds of more BTC to the exchange. As of July 8th, the whale has moved more than $468 million worth of Bitcoin to Binance. “The whale deposited 809 BTC ($45.18 million) to Binance again [July 8th]. He has deposited 7,790 BTC ($468 million) to Binance since June 27th and currently…
Well-known crypto analyst TechDev says that Bitcoin (BTC) is probably in the midst of a bear trap to shake out weak hands before a large move up in price. The pseudonymous analyst shares with his 464,000 followers on the social media platform X a Bitcoin chart that suggests BTC is mirroring its 2017 pre-parabola price action after roughly 1,200 days of accumulation. TechDev’s chart also incorporates the net unrealized profit and loss (NUPL) metric, which gauges the overall sentiment of market participants by tracking the unrealized gains and losses of all coins in circulation. Based on his chart, the analyst…
Asset management titan VanEck believes the upcoming US election will spark new highs for Bitcoin (BTC), according to the firm’s head of digital asset research. In a letter to investors shared by Matthew Sigel on the social media platform X, VanEck says the recent downturn in Bitcoin and other digital assets reflects “spiteful government selling” into relatively thin markets around the 4th of July. Late last month, the German government began selling off large amounts of its confiscated Bitcoin, and has continued to relentlessly offload its holdings since. VanEck also notes that BTC rarely trades below its 200-day moving average…