Author: The Daily Hodl
Nearly a third of young voters in the US are using cryptocurrencies, according to a new national poll. An Emerson College Polling Center national survey conducted this month indicates that out of all US registered voters, those under the age of 40 use cryptocurrencies the most. The survey also finds that usage of digital assets declines as the voter age increases. Says Spencer Kimball, executive director of Emerson College Polling, “Nearly one in three voters under 40 have used crypto, declining with age, 28% of voters in their 40s, 17% in their 50s, 9% in their 60s and just 4%…
The co-founders of the crypto analytics platform Glassnode are predicting a Bitcoin (BTC) recovery after they say the Fed’s hawkishness triggered a correction Wednesday. Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,300 followers on the social media platform X that the Fed’s decision to forecast less than previously expected rate cuts next year led to Bitcoin dipping below $100,000. However, they say that the Bitcoin exchange net position change metric, which tracks the 30-day supply held in exchange wallets, continues to signal bullishness. “Another dip, another buy. [Fed chair Jerome] Powell’s hawkish tone triggered…
Analyst and trader Ali Martinez is leaning bullish on the third-largest crypto asset by market cap, XRP. Martinez tells his 100,500 followers on the social media platform X that XRP is flashing a bullish signal on the four-hour time frame and could soar by around 57% from the current level. “XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!” XRP is trading at $2.55 at time of writing. Next up is Bitcoin (BTC). According to Martinez, long-term holders of Bitcoin are…
A lucky crypto trader scored a gigantic return after investing early in the new native asset of a non-fungible token (NFT) project built on Solana (SOL). The market analytics platform Arkham Intelligence notes that someone bought only $6 worth of PENGU, the new utility token for the NFT project Pudgy Penguins, then added it to the Solana-based decentralized exchange (DEX) Raydium (RAY) paired with $1100 worth of SOL. Explains Arkham, “Multiple users trying to snipe PENGU’s launch swapped into his pool, and bought tokens at highly unfavorable prices – earning him a profit of $87,000 in SOL and PENGU from…
Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) as the flagship crypto asset continues to hover above the $100,000 price. Svenson tells his 81,000 YouTube subscribers that based on the Moving Average Convergence/Divergence (MACD) indicator on the daily time frame, Bitcoin could surge higher over the short term. According to the analyst, Bitcoin could go up by around six percent from the current price based on the Fibonacci extension levels – a tool used to determine potential price targets based on the Fibonacci sequence of numbers. “I want to bring your attention to the daily MACD histograms.…
A popular crypto analyst thinks that Ethereum (ETH) is on the verge of printing a massive breakout rally also known as a god candle. Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s (BTC) price action over the last two weeks. The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs. “Same price action, but with one difference. God candle after the breakout. ETH.” Based on the trader’s chart,…
Crypto exchange Coinbase has cited risks linked to Tron-founder Justin Sun during a lawsuit over its delisting of Wrapped Bitcoin (wBTC). In a recent complaint, the wBTC custodian and Sun-affiliated BiT Global accused Coinbase of using wBTC – the tokenized representation of Bitcoin (BTC) on the Ethereum (ETH) blockchain – as a “cash grab” before delisting it and replacing it with its own version of the asset. Said the complaint, “In the case of wrapped Bitcoin, Coinbase viewed it as just another cash grab. It saw a competitor, wBTC, that had something it wanted: an innovative product that released value inherent…
A Bitcoin (BTC) whale that last transacted about 44 months ago has awakened and moved over half a billion dollars worth of the flagship crypto asset, according to on-chain data. Blockchain analytics platform Arkham Intelligence says that the Bitcoin whale, which last transacted in April 2021, has moved the large BTC stash to two new addresses for a total fee of $45.93. “A whale that has been dormant for over three years has just moved $530 million of Bitcoin into two new addresses, with one holding $420 million and the other holding exactly 1000 BTC (approximately $107 million).” Arkham Intelligence…
The chief executive of stablecoin issuer Circle says that dollar-pegged digital assets should become a mass export product of the United States. In a new interview on CNBC Television, Circle CEO Jeremy Allaire says that the US should promote “full reserve digital dollars” as a means of preserving the value of the US dollar. Allaire also says the US’ fiscal situation is “not in order” – something that could also be aided by a transparent digital dollar system. “First and foremost, we have to focus on the strength and competitiveness of the dollar first. We have a situation in the…
The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction. When asked if he sees any value in the Fed building a Bitcoin reserve, Powell said current laws make it impossible. “We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own and we’re not looking for a law change.” The Federal Reserve Act outlines the types of…