Author: The Daily Hodl

A closely followed crypto analyst says that altcoins are on the verge of breaking out after falling short of expectations. In a new strategy session, Real Vision chief crypto analyst Jamie Coutts tells his 18,500 followers on the social media platform X that even though Ethereum (ETH) performed well earlier this month, altcoins are still lagging behind Bitcoin (BTC). According to Coutts, altcoins should see a turnaround sometime during the second half of 2024 as liquidity improves. “Most crypto funds are overweight alts and not having as much fun as they would like, despite having a cracking six months from…

A proof-of-stake blockchain leapfrogged the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top non-fungible token (NFT)-related crypto project in terms of development activity, according to the analytics platform Santiment. Santiment notes that Flow (FLOW), a layer-1 permissionless blockchain, registered 190.77 notable GitHub events in the past 30 days, compared to 144.9 for Decentraland. Metaplex (MPLX), a decentralized NFT platform built on Solana (SOL), ranked third with 23.07 GitHub events, and the blockchain gaming project Axie Infinity (AXS) ranked fourth with 17.97. Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data…

One of Shiba Inu’s lead marketers is revealing the details of a highly anticipated SHIB blockchain game. A Shiba Inu insider who goes by Lucie tells her 139,300 followers on the social media platform X that the full release of the blockchain version of Shiba Eternity is nigh. “Shiba Eternity is getting very, very close! You can already play and train on the mobile version, where you can earn Kibbles. The blockchain version will be different, though.” Furthermore, the SHIB lead outlines features players can expect on the blockchain version of the game. “[TREAT]: This will play a big role.…

Crypto venture capital firm Paradigm says it has raised $850 million for a new fund targeting crypto projects that are still in their earliest stages. The San Francisco-based firm was an early contributor to the decentralized cryptocurrency exchange Uniswap (UNI), the Ethereum (ETH) layer-2 network Optimism (OP) and the Ethereum-centric research and development startup Flashbots. In a statement, Paradigm says these are the kinds of early-stage works that it wants to contribute to and which it will be increasingly focusing on. “It’s more important than ever to accelerate a positive future for crypto, not just as investors but as builders.…

The CEO of Ripple Labs says that in order for the crypto industry to drive mass adoption it needs to focus on one key aspect. In a new interview at the XRP Ledger Apex 2024 event, Ripple Labs head Brad Garlinghouse says that for the crypto industry to grow exponentially real use cases need to be developed. “Customers don’t care which technology you’re using. They want their problem solved… One of the things I certainly talk a lot about in the crypto macro ecosystem is we got to focus on utility. We got to focus on problems. If we’re just…

The world’s largest corporate Bitcoin (BTC) owner wants to raise funds to further bolster its crypto holdings. In a new statement, Microstrategy says it is planning to offer $500 million worth of convertible senior notes in a private offering. Convertible senior notes are a type of bond that allows investors to hold until maturity or convert into the issuer’s shares of common stocks. Microstrategy says the notes will be offered and sold to institutional buyers and will mature on June 15th, 2032. The plan is to use the proceeds to buy additional Bitcoin and for general corporate purposes. “The notes…

A widely followed crypto analyst believes Bitcoin (BTC) remains in a historic consolidation phase and predicts a massive breakout within months. Pseudonymous crypto trader Rekt Capital tells his 476,600 followers on the social media platform X that Bitcoin’s consolidation phase could last another three months based on historic precedent. “Bitcoin has been consolidating inside this re-accumulation range for three months now. And history suggests this could still go on for three months more. It shouldn’t be surprising therefore if price rejects from the range high resistance… If history repeats, a Bitcoin breakout from the re-accumulation range would occur in September…

Cryptocurrency analyst and trader Ali Martinez is expressing bullish sentiment on one smart contract-enabled blockchain while updating his outlook on Bitcoin (BTC) and Lido DAO (LDO). Martinez tells his 63,900 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is flashing an opportunity for a long entry on the four-hour chart for the native token of layer-1 blockchain Toncoin (TON). The analyst says that the TD Sequential indicator, which is used to determine potential points of trend reversals, is signaling that Toncoin could rally by around 46% from the current level to reach a price…

A widely followed trader and analyst is updating his outlook on a medium-cap crypto asset that has skyrocketed by quadruple-digit percentage points since January. The trader pseudonymously known as Altcoin Sherpa tells his 217,100 followers on the social media platform X that the utility token of Ondo Finance (ONDO), a crypto project focused on the tokenization of real-world assets (RWAs), is “still one of the strongest coins out there”. According to Altcoin Sherpa, ONDO has bounced off a key support level to potentially confirm the strength of the uptrend. Based on Altcoin Sherpa’s chart, it appears that the support level…

Fidelity Investments’ global macro director Jurrien Timmer says that for Bitcoin (BTC) to hit fresh all-time highs (ATHs) one key event must occur. Timmer tells his 186,600 followers on the social media platform X that Bitcoin adoption may need to increase before the crypto king can print new ATHs. “The growth of Bitcoin’s network has slowed in recent months, while its price has continued to gain. In my view, this divergence between price and adoption could explain why Bitcoin has slowed down a bit along its path to potential new all-time highs. The pendulum will only swing so far. For…