Author: The Daily Hodl

Bitcoin (BTC) infrastructure firm Blockstream is raising hundreds of millions of dollars in funding ahead of BTC’s next big wave. In a post on the social media platform X, Blockstream confirms that it just concluded a $210,000,000 funding round led by Fulgur Ventures. Fulgur Ventures is a venture capital firm specializing in Bitcoin and Lightning Network start-ups. According to Blockstream, the funds will be used to quicken layer-2 developments, expand BTC mining operations and continue to grow “one of the world’s largest BTC treasuries.” Says Blockstream CEO Adam Back on the successful fundraising round and the addition of a new…

Payments firm Ripple is announcing exchange partners for the launch of RLUSD, the company’s new dollar-pegged stablecoin. According to a new press release, Ripple Labs is collaborating with crypto platforms Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish to launch Ripple USD. Beta testing for RLUSD rolled out on the Ethereum (ETH) mainnet and the XRP Ledger (XRPL) two months ago. Ripple first announced plans for RLUSD in April 2024. In a court filing in May, the U.S. Securities and Exchange Commission (SEC) argued that the planned stablecoin represented an “unregistered crypto asset.” The SEC’s assertions have yet to be confirmed or denied…

Crypto asset management giant Grayscale has released a list of altcoins that it says it’s considering for new institutional products. In a blog post, Grayscale names 35 “assets under consideration” or digital assets not currently included in its products but identified by the firm as possible candidates for inclusion in a future product. Says Grayscale, “As a leading crypto-focused asset manager, introducing investors to a diverse array of investible digital assets is an important part of our mission. Accordingly, we’re excited to share this list of assets under consideration for inclusion for future Grayscale investment products, along with an up-to-date…

A closely followed crypto analyst and trader believes that Bitcoin (BTC) has more gas left in the tank despite its latest surge. Pseudonymous analyst Altcoin Sherpa tells his 224,900 followers on the social media platform X that he’s bullish on Bitcoin after reclaiming support at around $60,000. According to the trader, he expects the latest surge to take Bitcoin close to $70,000. “BTC time for $68,000+. Liquidity got taken out below that recent wick low, let’s see if we can get the highs. After that? no clue. But still bullish until shown otherwise.” At time of writing, Bitcoin is trading…

The key organization backing the Avalanche (AVAX) blockchain ecosystem is announcing plans to repurchase crypto assets sold to the nonprofit behind the Terra (LUNA) protocol in the first half of 2022. The Avalanche Foundation says it has negotiated an agreement to get back all AVAX tokens sold to the Luna Foundation Guard (LFG) in April 2022. The organization adds that the plan is now awaiting a judicial green light amid the ongoing bankruptcy proceedings of Terraform Labs (TFL), the embattled startup behind the Terra blockchain. “This action ensures that LFG would not violate the original agreement’s restrictions on the tokens’…

SkyBridge Capital founder Anthony Scaramucci says mass adoption is likely coming on the back of Bitcoin (BTC) exchange-traded funds (ETFs). In a new interview on crypto influencer Natalie Brunell’s YouTube channel, Scaramucci says that spot Bitcoin ETFs will significantly increase the number of investors, including public entities, investing in the flagship digital asset. “I’m wildly bullish long-term. I’m not worried about the concentration issues, because we have some ETFs right now. I think the ETFs, again from a historical perspective, will have provided a catalyst for further adoption.” Scaramucci believes that investment portfolios will one day be expected to include…

Venture capitalist Arthur Cheong thinks Coinbase’s Ethereum (ETH) layer-2 scaling solution Base is primed to witness a surge in trading volume. The DeFiance Capital CEO predicts on the social media platform X that on-chain spot decentralized exchange (DEX) volume on Base will flip Coinbase’s centralized exchange (CEX) volume “within six to 12 months.” “Makes logical sense when you think about it, and it all comes together with the DeFi (decentralized finance) Renaissance thesis.” Cheong believes Base is “the future of Ethereum.” He also sees the DeFi sector surging alongside memecoins. “Am I the only crazy one to think both DeFi…

Whales have been gobbling up Ethereum (ETH), the native token for the decentralized exchange (DEX) Uniswap (UNI) and a handful of other decentralized finance (DeFi) tokens, according to the crypto tracker Lookonchain. Lookonchain notes one unknown whale wallet withdrew 299,133 UNI worth $2.39 million from the crypto exchange Gate.io over the weekend. The same whale has also recently been accumulating other DeFi altcoins, withdrawing 19,373 Aave (AAVE) worth $2.95 million and 596 Maker (MKR) worth $805,000 from Binance between August 13th and Sept 12th. Lookonchain also notes that a whale wallet related to the investment firm Longling Capital bought 5,000…

Market intelligence platform IntoTheBlock says Coinbase’s Ethereum (ETH) scaling solution is on track to become the largest layer-2 (L2) blockchain by the end of the year. In a new report, IntoTheBlock says that key metrics indicate Base is experiencing exceptional growth this year. IntoTheBlock first looks at Base’s total value locked (TVL), the metric representing the amount of assets staked or locked in a platform. “Base, the L2 blockchain from Coinbase that has been live for just over a year, is close to surpassing Arbitrum as the largest Ethereum L2 by TVL. In September alone, Base saw an influx of…

A closely followed analyst who correctly called Bitcoin’s pullback earlier this year says BTC may soon enter the explosive phase of the market cycle. In a video update, pseudonymous analyst Rekt Capital tells his 91,000 YouTube subscribers that Bitcoin may break through the upper bound of a trading range within weeks and print new all-time highs (ATHs). “We’re retesting this [$60,000 level] for a few weeks in a row and we’re trying to position for a move towards the highs [of around $71,000] here. And of course, we have a series of lower highs to contend with, but once we…