Author: The Daily Hodl

The lead developer of memecoin Shiba Inu (SHIB) says that web3-based operating systems are now needed after banks and other networks suffered a massive global outage last week. In a new post on the social media platform X, Shytoshi Kusama says that a decentralized web3 operating system could counter events such as the latest outage, which saw marquee banks like JPMorgan, Chase, Bank of America and Wells Fargo experience major disruptions. “As the world [limped toward] the weekend crippled by one simple update, it becomes glaringly obvious that a new worldwide operating system is needed. One that isn’t reliant on…

A trader known for making timely crypto market calls believes that Bitcoin (BTC) has the potential to reach the six-figure level much sooner than most believe. Pseudonymous analyst Dave the Wave tells his 146,400 followers on the social media platform X that based on historical precedence Bitcoin could soar 85% from the local market bottom to reach $100,000. He believes that Bitcoin could be repeating a similar pattern from earlier this year when it corrected and then soared about 85% to reach a new all-time high. “If BTC made a similar move to the recent one looking at price knocking…

Digital assets manager CoinShares says that institutional crypto investors are going in heavy on the leading altcoin Ethereum (ETH). In its latest Digital Asset Fund Flows report, CoinShares says crypto investment products enjoyed $1.35 billion in inflows last week. “Digital asset investment products saw further buying with inflows of US$1.35bn last week, bringing the last 3 week run of inflows to US$3.2bn. ETP (exchange-traded product) trading volumes also increased substantially, up 45% week-on-week to US$12.9bn, but representing a lower than usual 22% of the broader crypto market volumes.” Regionally, the United States and Switzerland saw inflows of $1.3 million and $66…

The American arm of crypto exchange Binance has just secured court approval to invest its customer assets in US Treasury bills (T-bills). In an order dated July 19th, Judge Amy Berman Jackson for the District of Columbia greenlights Binance.US to invest “certain customer fiat funds” that are now in the custody of digital asset trust firm BitGo in T-bills with a rolling maturity period of four weeks. However, Binance.US has to comply with certain conditions. Third parties are not allowed to be involved in the investment. The exchange is also required to maintain sufficient amounts of US dollars on its…

Chainlink creator Sergey Nazarov says that the traditional finance (TradFi) world will be connected to decentralized finance (DeFi) via LINK. Nazarov says on the social media platform X that TradFi is gearing up to take the next big step in its adoption of digital assets and smart contracts. “Accelerating the adoption of digital assets/smart contracts in TradFi is just the start. Once the world’s largest asset managers and banks are on-chain, the next step is connecting them to the DeFi protocols already powered by Chainlink. Once there is a single standard for how transactions work correctly across multiple chains as…

Prominent analytics firm Santiment says that increased volume in one crypto sector has been a precursor to marketwide rallies in the past month. Santiment says it is looking at volume jumps in different areas of crypto to see which one can be a predictor of future price rallies. According to the firm, the current crypto rally began on July 8th when traders allocated capital to Bitcoin (BTC) and layer-1 projects. “All of the major volume spikes from the past month, illustrated by different sectors. Increased volume in Bitcoin and layer-1 assets leads to future crypto rises.Increased volume in AI (artificial…

Billionaire and Shark Tank star Mark Cuban says the stars are aligning for Bitcoin (BTC) in the best possible way. Cuban tells his 8.8 million followers on the social media platform X that the emergence of Silicon Valley support for former President Trump is, in his opinion, a “Bitcoin play.” According to Cuban, a Trump presidency will make it easier to operate a crypto business in the US due to “inevitable and required” changes at the U.S. Securities and Exchange Commission (SEC). He also says that inflationary pressures and geopolitical uncertainty will drive BTC to greater heights. “What will drive…

A trader known for calling crypto bottoms thinks Bitcoin’s (BTC) run toward $100,000 and beyond has started. Bybit’s top Master Trader Bluntz tells his 265,800 followers on the social media platform X that Bitcoin is in the midst of a five-wave surge en route to new all-time highs. The analyst uses Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally where waves one, three and five are upside moves and waves two and four are corrective periods. Says Bluntz, “The [last] BTC weekly is an absolute monster and has been up only from [July…

A trading bot altcoin is rallying after abruptly gaining support from the world’s largest crypto exchange platform by volume. In a new announcement, Binance says that it added support for Banana Gun (BANANA), a trading bot platform that operates across multiple blockchains, including Solana (SOL), Ethereum (ETH) as well as layer-2 protocols Base and Blast (BLAST). Binance says it attached a seed tag to BANANA, which indicates that the token has higher volatility and risks than other crypto assets listed on its platform. The crypto exchange also notes that Banana Gun will be the first project ever listed on the…

Analysts at ARK Invest say that several on-chain indicators are currently reflecting positive market health for Bitcoin (BTC). In a new report, ARK says that BTC is still in a state of being oversold after large-scale selling from the German government, which liquidated coins this month that it confiscated from an illegal movie streaming website. According to ARK analyst David Puell, Bitcoin’s sell-side risk ratio for short-term holders (STHs) is now in a “deep value” zone following the multi-month correction. The short-term holder sell-side risk ratio indicator aims to predict whether STHs are about to unload their coins and potentially…