Author: The Daily Hodl

An ancient Bitcoin investor is going to spend the next two years in prison after underreporting his BTC gains, according to the U.S. Department of Justice (DOJ). In a new press release, the DOJ says that Frank Richard Ahlgren III of Austin, Texas failed to accurately report the capital gains he earned after selling $3.7 million in Bitcoin. He was sentenced Thursday to two years in prison for filing false tax returns. The DOJ says that taxpayers are required to report any gains or losses from the sale of cryptocurrencies like Bitcoin. Says Stuart Goldberg, the Acting Deputy Assistant Attorney…

New data from market analytics firm Glassnode reveals that traders are keeping their Solana (SOL) stacks amid expectations that its price will continue to rise. In a new thread on the social media platform X, Glassnode says that long-term holders now own a significant supply of SOL, believing that Solana’s bullish phase is far from over. “Solana investors are HODL-ing (holding on for dear life) firm, expecting higher prices. Long-term holders’ share of wealth locked in the network is growing. The 6-12 month cohort now holds 27% of the supply, showing conviction from 2024 rally buyers.” But the data analytics…

The founder and chief executive of the crypto advocacy group The Digital Chamber has a big Bitcoin (BTC) price prediction for 2025. Crypto lobbyist Perianne Boring tells Fox Business in a new interview that President-elect Donald Trump’s future approach to the sector could send BTC skyrocketing close to $1 million. “The stock-to-flow model says it’s going to be at over $800,000 by the end of next year. If Donald Trump is successful in putting forward a lot of the proposals that he’s proposed to the community, the sky is the limit because Bitcoin has a fixed supply.”  The stock-to-flow (S2F) model,…

New court documents show that BiT Global, a custodian of Wrapped Bitcoin (wBTC), is suing Coinbase after the top US-based crypto exchange delisted wBTC in November. In a new complaint, BiT Global accuses Coinbase of using wBTC – the tokenized representation of Bitcoin (BTC) on the Ethereum (ETH) blockchain – as a “cash grab” before ultimately delisting it and replacing it with its own version of the asset. “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 in…

A widely followed crypto analyst is highlighting whale activity surrounding popular crypto assets such as Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP during this week’s market dip. In a new thread on the social media platform X, crypto strategist Ali Martinez tells his 98,300 followers that deep-pocketed investors have loaded up on smart contract platform Cardano during the last two days. “Cardano whales bought over 80 million ADA in the last 48 hours!” Cardano is trading for $1.14 at time of writing, a 6.22% decrease during the last 24 hours. Moving on to the dog-themed meme asset Dogecoin, Martinez…

Decentralized finance (DeFi) altcoin Velodrome Finance (VELO) is skyrocketing following a new listing from the world’s largest crypto exchange by trading volume. Earlier today, Binance announced the addition of VELO to the crypto exchange. “Binance is excited to announce that Velodrome Finance (VELODROME) will be added to Binance Simple Earn, ‘Buy Crypto’, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below.” According to the announcement, Binance’s Simple Earn will list VELO Flexible Products for subscription today. Binance users will be able to purchase VELO on Monday, December 16th. VELO has almost doubled…

A widely followed crypto analyst says that Bitcoin’s (BTC) still has upward momentum while updating his outlook on payments network Stellar (XLM). In a new thread on the social media platform X, pseudonymous crypto strategist Rekt Capital tells his 519,600 followers that it appears as if the top crypto asset by market cap’s technical uptrend will remain in place. “Bitcoin continues to hold its four-week technical uptrend line as support Bitcoin would likely need to lose this uptrend line if a deeper correction is to take place from these levels. So far, the technical uptrend remains intact.” The trader’s chart…

Ethereum (ETH) rival Avalanche (AVAX) has raised $250,000,000 from a locked token sale led by Galaxy Digital, Dragonfly and ParaFi Capital. According to a new announcement, Avalanche says that more than 40 companies participated in the sale, including SkyBridge, Hivemind and Morgan Creek Digital. A locked token sale means the tokens sold have certain vesting or lock-up periods. The proceeds will go toward supporting the blockchain’s upgrade called Avalanche9000. “The influx of capital follows the launch of the Avalanche9000 testnet, a key milestone that paves the way for the upcoming mainnet network upgrade on Monday, December 16th, which will reduce…

Crypto giant Grayscale has launched two new trusts that offer investors exposure to liquid staking service Lido DAO (LDO) and scaling solution Optimism (OP). The new trusts add to the crypto firm’s more than 25 existing digital asset products. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, praises the two altcoin projects for the benefits they bring to the Ethereum (ETH) ecosystem. “Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer-1 blockchains. Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to protocols…

A closely followed crypto analyst believes that the altcoin market is entering an uptrend after bottoming out. In a new strategy session, crypto trader Michaël van de Poppe tells his 751,700 followers on the social media platform X that the price action of the OTHERS chart may be printing a bullish pattern on the weekly timeframe. The OTHERS chart, which is often used to gauge the altcoin market strength, tracks the market capitalization of all crypto assets excluding the 10 largest coins and stablecoins. “The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong…