Author: The Daily Hodl
Cryptocurrency analyst and trader Kevin Svenson believes that altseason, a period when altcoins significantly outperform Bitcoin (BTC), is close at hand. In a new video, Svenson tells his 78,600 YouTube subscribers that his bullish thesis for altcoins is informed by the price action of Bitcoin and Ethereum (ETH). “Altseason may actually take place very soon. And the reason why I came to that conclusion is because Bitcoin broke the parabolic trend and is looking to go sideways in this range and consolidate, while the leading altcoin, Ethereum, is actually sitting in an exponential trend. So this is likely going to…
A crypto strategist who nailed the pre-halving pullback for Bitcoin warns that (BTC) could correct to much lower levels. The analyst pseudonymously known as Rekt Capital tells his 79,900 YouTube subscribers that Bitcoin could drop more than 8% from its current value. “What if we were going see a deepest correction in the cycle, or at least equal to the deepest correction in the cycle of 23.8%. That would see us go to $55,000.” However, the analyst believes that a deeper drawdown is unlikely at this point in the cycle. Rekt Capital says it is more likely that either BTC…
Top US exchange Coinbase is not going to facilitate the planned merger of multiple artificial intelligence altcoin projects into a single new crypto. In an announcement via the social media platform X, Coinbase says that customers will have to initiate the merger on their own. “Ocean (OCEAN) and Fetch.ai (FET) have announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase will not execute the migration of these assets on behalf of users.” In March, Fetch.ai (FET), Singularitynet (AGIX) and Ocean Protocol (OCEAN) announced a plan to merge with an aim to create the largest independent player in artificial…
A 24-year-old man from Florida has been convicted of running a crypto-stealing scheme that also included kidnapping and assault. In a new press release, the U.S. Department of Justice (DOJ) says that Remy St. Felix, from West Palm Beach, was the mastermind of a burglary crew that targeted crypto owners from September 2022 to July 2023 in multiple states. According to the DOJ, St. Felix and his crew would invade homes, kidnap the victims, and force them to access and then drain their cryptocurrency wallets. To do this, St. Felix and his co-conspirators would hack into their targets’ email accounts…
A proof-of-work, layer-1 altcoin has defied the crypto market doldrums and surged by 25% this week ahead of an upcoming protocol launch. Kaspa (KAS), which bills itself as “the fastest, open-source, decentralized and fully scalable layer-1 in the world,” is trading around $0.18 at time of writing, up from $0.144 seven days ago. The 27th-ranked crypto asset by market cap is also up more than 6.5% in the past 24 hours. KAS’ gains have materialized as Kasplex, a protocol for the Kaspa ecosystem, gets closer to its open beta, which kicks off on June 30th. The Kasplex Protocol plans to…
A widely followed crypto analyst says that one Ethereum (ETH) competitor is going to be decent moving forward while updating his outlook on Bitcoin (BTC). In a new strategy session, crypto trader Altcoin Sherpa tells his 217,600 followers on the social media platform X that smart contract platform Fantom (FTM) appears to be gearing up for some “healthy price action.” “FTM: price consolidating at a key level, interacting w. the 200-day exponential moving average (EMA). I expect a chop range to form between $.50 and $.70ish for a bit to form a base – this would be pretty healthy price…
Even though crypto was left unmentioned in last night’s first 2024 US Presidential debate, memecoins based on the candidates’ likenesses have responded strongly. Last night, millions of Americans tuned in to watch the first of two debates between Republican candidate Donald Trump and incumbent Democratic President Joe Biden. The two candidate’s crypto stances have been a matter of hot debate within the digital asset community. While Trump has billed himself as “The Crypto President”, Biden’s campaign has taken heat for what is perceived as a hostile stance against the industry, along with the administration’s close connections to Gary Gensler. Despite…
A widely followed crypto analyst and trader says that one top-10 altcoin could be gearing up for a massive rally. Crypto strategist Ali Martinez tells his 65,700 followers on the social media platform X that the native token of layer-1 blockchain Toncoin (TON) could soar more than 19% from its current value. “Toncoin is poised for a … rise towards $9 after breaking out of an ascending triangle!” Toncoin is trading for $7.53 at time of writing, down 1.5% in the last 24 hours. Next up, the analyst warns that Bitcoin (BTC) could retest lower levels if it falls to…
Investment giant VanEck is seeking approval for a spot Solana (SOL) exchange-traded fund (ETF), according to a new filing with the U.S. Securities and Exchange Commission (SEC). The company submitted an S-1 registration statement to the securities regulator on Thursday related to the SOL ETF, which would be called the VanEck Solana Trust. VanEck, who is the first company in the United States to file for an SOL ETF, says it would be listed on the Cboe BZX Exchange if ultimately approved by the SEC. After the filing, Solana’s price shot up from a 24-hour low of $130 to a…
One widely followed crypto analyst says one low-cap artificial intelligence (AI) token is poised to come to life. Crypto trader Michaël van de Poppe tells his 722,600 followers on the social media platform X that the 346th-largest crypto by market cap, Covalent (CQT), is primed to rally. “CQT is currently back to the levels of November 2023. A harsh correction since the peak in February. Expecting to see the price of Covalent rally up significantly, since their recent new updates.” CQT is worth $0.163 at time of writing, up 2.2% on the day. Looking at Bitcoin (BTC), Van de Poppe…