Author: The Daily Hodl

Bitcoin led a crypto market correction early Monday, taking BTC to the $92,762 level and putting it down over 12% over the last seven days. At the tail end of the weekend, well-known blockchain security expert Taylor Monahan who works for crypto wallet MetaMask reported that several addresses linked to the DPRK were trading on Hyperliquid, a decentralized perpetuals exchange with its own chain. Monahan said the North Koreans were likely testing out the network before considering it as a target for their next attack. In its Discord channel, Hyperliquid disagreed with Monahan’s analysis and said that there was no…

A closely followed crypto strategist says Bitcoin (BTC) is forming a bullish pattern similar to what was witnessed earlier this year before sparking massive surges. Analyst Justin Bennett tells his 115,700 followers on the social media platform X that Bitcoin formed an ascending channel on the daily chart in Q1 of this year when BTC was trading at around $36,000. An ascending channel is typically viewed as a bullish pattern as it suggests that an asset is printing higher highs and higher lows. According to Bennett’s chart, Bitcoin briefly traded below the pattern’s diagonal support in February before igniting a…

Binance, the top global crypto exchange by trading volume, is rolling out support for the new native token of a “decentralized science” project. Binance Launchpool, which lets users stake coins to farm new assets, says its 63rd project will be BIO Protocol (BIO), a decentralized platform aiming to advance biotechnology through collective funding and the tokenization of biotech projects. Says the project, “BIO is a curation and liquidity protocol for decentralized science (DeSci). Our mission is to accelerate biotechnology by giving global communities of patients, scientists and biotech professionals the ability to collectively fund, build and own tokenized biotech projects…

The team behind the largest decentralized crypto exchange (DEX) by trading volume is confirming the launch of its highly-anticipated layer-1 blockchain Unichain. In a new blog post, Uniswap Labs says that, after the successful public testnet phase of the Unichain launch, the launch of a public mainnet is the next step. The firm says Unichain will begin its transition to mainnet on January 6, 2025. “The next major milestone focuses on decentralization, which is core to Unichain. Mainnet will go live with Permissionless Fault Proofs on day one, allowing anyone to verify the chain’s activity. This process will begin on…

BitMEX co-founder Arthur Hayes was spotted moving millions of dollars worth of altcoins to crypto exchange Binance. According to blockchain tracking firm Lookonchain, Hayes sent over $8.47 million worth of Ethena (ENA) to Binance, presumably to sell on the open market. “Arthur Hayes previously accumulated 16.79 million ENA ($11.21 million) at $0.67 between Nov 26th and Nov 28th, making a profit of $7.7 million at the current price.” According to blockchain “de-anonymizing” service Arkham, Hayes also sent an additional $2.42 million worth of ENA to another wallet containing over $11 million worth of crypto. Arkham notes that the receiving wallet…

The head of digital assets research at exchange-traded fund (ETF) provider VanEck says a strategic Bitcoin (BTC) reserve can help the US pay off its rapidly accelerating national debt in about 25 years. In a new thread on the social media platform X, VanEck executive Matthew Sigel shows how a strategic Bitcoin reserve could improve the United States’ financial position by 2050. In July, Republican Senator Cynthia Lummis of Wyoming said she would announce a bill to establish a BTC reserve that would drive the US government to accumulate one million Bitcoin in five years. According to Sigel’s data, the one…

US-based crypto exchange Coinbase says there will be five main trends to watch in the digital asset markets next year. In a new “Crypto Market Outlook” report, Coinbase starts its list with stablecoins, saying that they’re “just getting started” after the sector’s explosive growth in 2024. Coinbase says stablecoins are crypto’s “killer app” and their use case will soon expand beyond simple trading. “As stablecoins continue their surge, we are rapidly approaching the day when their first and primary use cases will be global capital flows and commerce, rather than trading.” Next on the list is the tokenization of real-world…

A veteran of the Bitcoin ecosystem says that BTC is moving into a phase where extreme price impulses to the upside will become normalized. In a new interview on the Block Rewards podcast, Samson Mow says that BTC is almost ready to graduate from printing “god candles” – $10,000 daily moves – to “omega candles” representing $100,000 daily moves. Mow notes that in some countries with much weaker currencies than the USD, omega candles are already taking place on a regular basis. “The world’s going to change. After $100,000, I think everything starts to accelerate and go faster. So post-$100,000…

The creators of the crypto analytics firm Glassnode are warning that altcoins could lose all bullish momentum following last week’s market correction. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,400 followers that “altcoin season,” which they say began in late November, could come to an abrupt end after alts witnessed deep pullbacks over the last seven days. According to the Glassnode co-founders, traders and investors will likely have a risk-off approach on altcoins unless Bitcoin recovers a key psychological price point. “Is This the End of Altcoin Season?…

Rich Dad Poor Dad author Robert Kiyosaki believes that the world is in trouble amid a financial system that runs on inflation and currency debasement. Kiyosaki tells his 2.6 million followers on the social media platform X that the United States has a history of devaluing its currency at the expense of Americans saving their wealth in the dollar. The best-selling author refers to the dollar as “fake money,” highlighting that the government can always print more out of thin air. “I stopped trusting my government in 1965 when I noticed our silver coins were now alloys of cooper. In…