Author: The Daily Hodl
Uniswap’s native token, UNI, ignored a stagnant crypto market and surged by more than 12% on Thursday as the decentralized exchange (DEX) project announced a new Ethereum (ETH) layer-2 project. Uniswap Labs says the new project, called “Unichain,” aims to facilitate decentralized finance (DeFi) and liquidity across chains. “Unichain is designed to leverage and accelerate Ethereum’s scaling roadmap, moving execution to an L2. In practice, this means Unichain will lower transaction costs by ~95% compared to Ethereum L1 in the short term, and even more over time. Unichain will soon introduce a decentralized validation network that allows nodes to verify…
Crypto analytics platform Arkham Intelligence is reportedly planning to launch its own derivatives exchange next month as a means of competing with crypto exchange giant Binance. According to a new report by Bloomberg, an anonymous person familiar with the matter says that the market intelligence firm plans to launch the options exchange next month with the backing of key investors, such as OpenAI CEO and Worldcoin (WLD) founder Sam Altman. The new exchange – which will not be open to customers in the US – aims to compete with the world’s largest crypto exchange platform by volume and will be…
A widely followed crypto analyst believes that one red-hot Solana (SOL) rival may soon print new all-time highs (ATHs). Crypto trader Michaël van de Poppe tells his 729,500 followers on the social media platform X that Sui (SUI) could soar more than 23% from its current value. “Sometimes you’ll need to remain patient. Shared this on SUI before, and marked that level [at $1.79]. Got there and has a strong bounce of close to 10%. I think we’ll continue towards the highs on SUI and potentially reach $2.25-$2.50.” SUI is trading for $2.03 at time of writing, a gain of…
A closely followed crypto strategist is issuing a warning about Bitcoin (BTC) after the flagship digital asset dipped below the $60,000 range on Thursday. Pseudonymous analyst Credible Crypto tells his 424,500 followers on the social media platform X that Bitcoin needs to hold $58,000 as support to avoid plummeting much further. “All the people screaming at me for urging caution at the highs (again) you better pray $58,000-$59,000 holds or else it’s nuke city for Bitcoin baby.” The analyst is also turning short-term bearish on Bitcoin. He suggests the top digital asset by market cap may hold the high $50,000s…
Zcash (ZEC) defied a wider crypto market downtick and jumped by 12% on Thursday as Coinbase rolled out a new feature for the privacy coin. ZEC outpaced the overall crypto market cap, which dropped by nearly 2% over the same time period, according to CoinGecko. The 141st-ranked crypto asset is also up nearly 29% in the past week. ZEC is trading at $32.95 at time of writing, up from $29.15 one day ago. On Thursday, Coinbase announced that its users can now send Zcash to TEX addresses. Zcash has multiple types of addresses, including transparent addresses (t-addresses) and private/shielded addresses…
A top cryptocurrency analyst and trader is saying he’ll turn bullish on Ethereum (ETH) if it breaks through one key resistance level. The analyst pseudonymously known as DonAlt tells the 62,300 subscribers of the Technical Roundup YouTube channel that if Ethereum reclaims $2,800 on the weekly timeframe it could set ETH up for much larger gains. “I still find ETH interesting. But I would like it to trade above here… $3,000 is the line in the sand. If you get back above $3,000, ETH gets really, really good. And I think at this point, $2,800 is the new line in…
A widely followed analyst and trader says that an exponential rally for one of Ethereum’s (ETH) biggest rivals could be around the corner. The analyst pseudonymously known as Kaleo tells his 651,800 followers on the social media platform X that the price action of Avalanche (AVAX) over its first four years mirrors Ethereum’s during the same timeframe. “If similar price action continues to play out, an upside target of $400 AVAX isn’t as crazy as it sounds.” Avalanche, which is trading at $26.19 at time of writing, would have to go up by 1,427% from the current level to reach…
Seasoned trader Peter Brandt is leaning bullish on Bitcoin (BTC) as the flagship crypto asset lingers around 17% below the all-time high. Brandt tells his 741,800 followers on the social media platform X that his price target for Bitcoin is $135,000, a level he sees being reached in either August or September of 2025. According to Brandt, Bitcoin typically records massive gains during the second half of the halving cycles. On what could invalidate his bullish thesis for the crypto king, the veteran trader says, “Close below $48,000 negates my chart analysis.” Bitcoin is trading at $61,070 at time of…
Cardano’s (ADA) longstanding price woes have dampened crypto traders’ enthusiasm about the smart contract platform’s future, but one analyst thinks that lack of enthusiasm indicates a potential opportunity. Ali Martinez tells his 73,700 followers on the social media platform X that he thinks it’s actually a good time to buy more ADA. “Cardano investors seem deep in the depression phase of the market cycle — but that’s often where opportunities lie. Selling now might not be ideal; instead, accumulating ADA during such pessimism could pay off.” ADA is trading at $0.339 at time of writing. The 12th-ranked crypto asset by…
New data shows that nearly half of all traditional hedge funds are now reportedly exposed to crypto assets as regulations start to become more clear. According to a new report by Bloomberg, a recent survey revealed that 47% of hedge funds in traditional markets had exposure to crypto assets, up from 29% in 2023 and 37% in 2022. The survey, published by Alternative Investment Management Association (AIMA) and global accounting giant PricewaterhouseCooper (PwC), also found that 67% of those already exposed to crypto plan to maintain the same level of exposure while the rest plan to purchase more. As stated…