Author: The Daily Hodl

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…

A crypto investment firm says it’s looking to double the impact of digital asset donations made to help finance the campaigns of pro-crypto candidates. Multicoin Capital co-founder Tushar Jain says on the social media platform X that the firm is backing the Sentinel Action Fund, a conservative super political action committee (PAC) advancing pro-crypto candidates. According to Jain, Multicoin Capital will match Solana donations of up to $1 million in SOL to support the super PAC’s efforts. “By building the framework for victory by [Senate candidates] Sam Brown, Dave McCormick, Bernie Moreno, and Tim Sheehy, we can add four critical voices…

Digital assets manager CoinShares says that institutional crypto products raked in major inflows last week despite price weakness. In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products enjoyed $441 million in inflows last week. “Digital asset investment products saw inflows totaling US$441m, with recent price weakness prompted by Mt Gox and the German Government selling pressure likely being seen as a buying opportunity. Volumes in Exchange Traded Products (ETPs) remained relatively low at US$7.9 billion for the week, reflecting the typical seasonal pattern of lower volumes in the summer months.” The US region led inflows…

A new crypto game on the instant messaging platform Telegram has been seeing phenomenal growth since its launch in March this year. According to Telegram CEO Pavel Durov, Hamster Kombat has attracted 239 million sign-ups over the past three months, making it the latest phenomenon on the internet.  Hamster Kombat is a game where users play as the hamster CEO of a fictional crypto exchange mirroring real-world dynamics. Players mine in-game coins when they tap on the digital hamster and the earned coins can be used to strategically upgrade their virtual startup.  Says Durov, “It took Hamster only 73 days…

Justin Sun has announced that developers are now working on a stablecoin transfer solution that can function without gas fees on the TRON (TRX) network. The crypto billionaire says the new service is set to roll out later this year, initially on TRON before expanding to Ethereum (ETH) and other EVM-compatible chains. “Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. This innovation will first be implemented on the Tron blockchain and later support Ethereum…

Crypto veteran Meltem Demirors says that one particular subsector of digital assets will birth “dozens” of multi-billion dollar projects in the future. Demirors tells her 263,000 followers on the social media platform X that she’s looking more closely at the future of decentralized physical infrastructure networks (DePINs). DePINs aim to leverage blockchain to give individuals or companies control over physical infrastructure like wireless connectivity, data storage or compute power in a decentralized manner. Demiror says that Bitcoin (BTC), with its network and token that ultimately incentivized the creation of $100 billion worth of mining hardware and $20 billion worth of…

A widely followed crypto analyst says that investors likely can’t expect Bitcoin (BTC) to spark a rally for at least a few more months. In a new video update, crypto strategist Benjamin Cowen tells his 802,000 YouTube subscribers that based on history, the crypto king could be in a downtrend until September or October before breaking out to the upside. Looking at BTC’s 2019 chart, Cowen notes that it took Bitcoin 202 days to break out of a similar downtrend, a pattern that could form this time around as well. “If you actually look at the time range on this…

A widely followed economist believes several catalysts on the horizon could give Bitcoin (BTC) a massive shot in the arm. Economist Alex Krüger tells his 176,300 followers on the social media platform X that Bitcoin broke below its $60,000 psychological support as fears surrounding sell pressure from the German government and Mt. Gox repayments grip the crypto market. Krüger says that while the sell pressure from Mt. Gox creditors and the German government will keep crypto jittery in the next few months, he names five catalysts that he believes will trigger renewed rallies toward the end of the year. “These…