Author: The Daily Hodl

The venture capitalist Arthur Cheong thinks the decentralized finance (DeFi) sector is in the midst of a “renaissance.” The DeFiance Capital CEO tells his 177,800 followers on the social media platform X that both internal infrastructure improvements and external macroeconomic developments are driving DeFi’s resurgence. “As global interest rates shift, risk assets like crypto, including DeFi, become more attractive to investors seeking higher returns. With the Federal Reserve implementing a 50 basis points rate cut in September, the stage is set for what may be a period of lower interest rates, similar to the environment that fueled the crypto bull…

A widely followed cryptocurrency analyst and trader believes that Bitcoin’s (BTC) transition into an explosive part of the market cycle is near. In a video update, pseudonymous analyst Rekt Capital tells his 91,200 YouTube subscribers that Bitcoin is following a similar path to previous bull runs, including the lengthy consolidation around the halving. “We’ve seen retracement, we’ve seen consolidation, everything in between, and it’s slowly becoming time for price to essentially transition into its next phase of the cycle, which is essentially parabolic price action towards the upside.” The analyst says that once Bitcoin enters the “parabolic phase,” the flagship…

Stablecoin issuer Tether Holdings Ltd is reportedly considering venturing into commodity trade financing amid a growing cash pile. According to a Bloomberg report, Tether Holdings, which generated $5.2 billion in net profits in the first half of 2024, is exploring the possibility of providing loans to commodities trading firms. Citing ‘people familiar with the matter,’ the report says that Tether has entered discussions with several commodities trading companies with a view of offering US dollar loans to the sector. Tether Ceo Paolo Ardoino tells Bloomberg he believes the opportunities in the commodities trading sector will be “massive in the future.”…

New data from market intelligence firm CryptoQuant reveals that new Bitcoin (BTC) wallets are now holding a staggering 9.3% of the crypto king’s total supply. In a thread on the social media platform X, CryptoQuant chief executive Ki Young Ju says that new Bitcoin whale wallets have seen their balances increase by a massive 813% year-to-date. New whale wallets are defined as having an average coin age under 155 days. “New whale wallets now hold 1.97 million Bitcoin. Each has over 1,000 BTC, average coin age under 155 days, excluding exchange and miner wallets, likely custodial. Their BTC balance surged…

Vitalik Buterin has floated the idea of dramatically reducing the amount of ETH that’s required to be an Ethereum staker. In a new blog post, the Ethereum founder notes that it currently takes approximately 15 minutes to finalize a block and 32 ETH is required to serve as a staker. Buterin says these specs were a compromise designed to find a compromise between three goals: maximizing the number validators that can stake, minimizing the time to finality and minimizing the overhead of running a node. The Ethereum founder says those requirements could change, however. “Ideally, we want to preserve economic…

Widely followed crypto analyst Ali Martinez says that one historically accurate signal is once again flashing bullish for Ethereum (ETH). Martinez tells his 74,000 followers on the social media platform X that ETH may soar to new all-time highs (ATHs) after retesting the lower bound of an upward channel on the weekly timeframe. “Every bounce off this channel’s lower boundary has historically led to an average 130% price increase for Ethereum. If this pattern holds, a similar move could push ETH to $6,000 – provided the key $2,300 support level stays intact.” Ethereum is trading for $2,593 at time of…

The team behind the Solana (SOL) challenger Sui is pushing back against rumors that project insiders have sold off $400 million worth of SUI tokens. On Sunday, the pseudonymous crypto analyst known as Light claimed the layer-1 altcoin’s insiders were selling off the token, pointing to a graph charting major SUI ICO wallet distribution. “It does not bring comfort that the people building this ecosystem, the people who arguably know this token’s value best, are unloading hundreds of millions of dollars of token into less informed buyers chasing momentum. As some of us have learned, whether now or later, as…

Fundstrat’s Tom Lee says markets are getting a boost from $6 trillion that’s been sitting on the sidelines. In a new interview on CNBC’s Squawk Box, Lee says that the massive amounts of liquidity at the ready may now be more relevant for determining whether markets remain in an uptrend than macroeconomic data. “We’ve kind of been sort of fooled by seasonality because we thought markets would be hesitant before the elections and it’s October, but we’ve seen this market be incredibly resilient. So I’ve underestimated how strong this market’s been. I think it really shows macro data is becoming…

A closely followed crypto analyst believes the lights are green for Bitcoin (BTC) to finally break out of its lengthy consolidation period. Pseudonymous analyst Jack Sparrow tells his 254,100 followers on the social media platform X that Bitcoin is clear for take-off after moving above $62,800. The trader shares a chart suggesting that Bitcoin will initially to $70,000 before a brief dip and a rally toward his first target above $100,000. “Pray with me… If we don’t fizzle the next few weeks and finally get the breakout, the target for the next larger pause to start sits around $106,000.”  Based…

A crypto strategist is warning meme tokens Pepe (PEPE) and dogwifhat (WIF) are now in prime spots to witness deep corrective moves. Pseudonymous trader Credible Crypto tells his 425,900 followers on the social media platform X that he’s leaning bearish on PEPE. According to the analyst, the current PEPE rally will lose steam, setting the stage for a collapse below $0.00000570. “HTF (high time frame) distribution takes time. After bouncing off of our range lows, we are now back at the range highs and once again struggling to clear them – likely leading to another deviation and failure. The next…