Author: The Daily Hodl

Closely followed crypto analyst Ali Martinez says that a contrarian play on Solana might be presenting itself for SOL bulls. Martinez says that Solana’s consolidation from the yearly high and the recent outages on its network have created a low in sentiment for SOL. Late last week, Solana also dealt with some congestion issues partially stemming from a rush of users looking to speculate on memecoins. Martinez says now may be the time for a contrarian bounce from SOL. “Crowd sentiment for SOL hasn’t been this low since the Solana network outage on February 6th. Being contrarian now might just…

New data from market intelligence platform IntoTheBlock reveals that the market cap of memecoins has hit its highest level since 2021. In a new article, IntoTheBlock’s head of research, Lucas Outumuro, says that the aggregate value of meme assets has nearly tripled in Q1 of 2024 to $56 billion. “Demand for memecoins hit the highest since 2021 this quarter. Despite interest rates remaining high and no ’stimmy checks’ being sent out, appetite for seemingly useless crypto-assets has been very strong. It’s unclear whether this is due to the economy getting overheated, or perhaps just growing financial nihilism, but memecoins have…

A Bitcoin whale that sat dormant for the last decade has suddenly awakened and begun transferring millions of dollars worth of BTC. First spotted by blockchain tracking firm Lookonchain, an address beginning with “1CLx” – which bought Bitcoin when it was trading below $30 – has awakened after 10 years of inactivity. “A whale with 1,701 BTC ($115.42 million) woke up after 10 years of dormancy and transferred 246 BTC ($16.73 million) out.. The whale received 4,272 BTC ($125,541 at the time) in 2013 at an average price of only $29.39.” With Bitcoin currently trading at $69,835, the whale is…

Indicators are now strongly hinting that Bitcoin’s (BTC) recent rallies have a lot more gas left in the tank and that much bigger gains are about to be witnessed, a closely followed crypto analyst says. The pseudonymous analyst known as TechDev tells his 444,000 followers on the social media platform X that Bitcoin is currently pushing up on the 2x multiple of its 350 daily moving average (DMA) while it consolidates near all-time highs. TechDev also notes that BTC’s moving average convergence divergence (MACD) indicator on the two-month chart has simultaneously flipped green. The analyst says that together, the three…

A widely followed crypto strategist believes that one Ethereum (ETH) competitor is gearing up to witness a breakout rally. Pseudonymous analyst The Crypto Dog tells his 775,100 followers on the social media platform X that he’s bullish on the smart contract protocol Near (NEAR). The analyst shares a chart suggesting that NEAR is threatening to take out its diagonal resistance on the daily chart. “NEAR makes a move soon. Maybe not today but soon. BTC flat, SOL red, NEAR green makes me pay attention.” Even though Near is still struggling to move above the diagonal resistance, the analyst says that…

A widely followed analyst and trader is expressing bullish sentiment on one Ethereum (ETH) competitor while offering his forecast on gaming altcoin Beam (BEAM). The analyst pseudonymously known as Altcoin Sherpa tells his 213,800 followers on the social media platform X that the price of the native token of the layer-1 blockchain Solana (SOL) could “go way higher”. According to Altcoin Sherpa, Solana offers potential accumulation opportunities at the current price. “SOL: It’s very simple- buy within this $168 – $208 range and don’t think too much about the price for the next few months.” Solana is trading at $187…

The research branch of top US-based crypto exchange platform Coinbase says that going forward, investors are likely to aggressively purchase Bitcoin (BTC) when it dips. In a new blog post, Coinbase Institutional says that gold is a winner this cycle due to rising economic and geopolitical concerns. According to Coinbase, the success of gold can be attributed to both the threat of inflation and the anticipation that the Federal Reserve will begin its rate-cutting cycle. “In this environment, gold has been the largest winner, printing new highs amidst increased central bank buying, heightened geopolitical risks, and reflation concerns. What makes…

Ethereum (ETH) rival Fantom (FTM) is launching a new “canonical” stablecoin in partnership with USDC-issuer Circle. Fantom will utilize the cross-chain messaging protocol Wormhole (W) to roll out the new stablecoin, USDC.e. Explains the Fantom Foundation, “USDC.e on Wormhole is bridged from native USDC, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future. It will be the official, endorsed stablecoin of the Fantom ecosystem (and all future network upgrades).” This initiative reduces liquidity fragmentation, introduces stability, and provides additional on-ramps to the ecosystem. By leveraging the Wormhole Native Token…

A top-100 altcoin has more than doubled up during the last week as it announces a host of new partnerships and features. New data reveals that Core (CORE), a layer-1 blockchain that leverages the advantages of Bitcoin’s (BTC) proof-of-work network, has skyrocketed over the last seven days. On March 29th, CORE was trading for $1.07. However, on April 1st, it shot up to $4.10, a staggering 283% gain. However, CORE has since retraced and is trading for $2.75 at time of writing. Earlier this week, CORE’s decentralized autonomous organization (DAO) announced the addition of two features to the blockchain –…

A trader is seeing over 27,600% in profits after investing in a memecoin launched on the Ethereum (ETH) layer-2 scaling solution Base. According to blockchain tracking firm Lookonchain, one smart trader turned $18,000 into $5 million – a gain of 27,677% – after purchasing Degen (DEGEN) in January. “Only invested 7.35 ETH ($18,000) on DEGEN, this trader made ~$5 million, a gain of 272x! He spent 7.35 ETH ($18,000) to buy 260 million DEGEN on January 15th and January 21st. Then sold 102.5 million DEGEN for 1.26 million USDC, with 157.5 million DEGEN (3.75 million) left.” DEGEN, which has a…