Author: The Daily Hodl

Coinbase is adding support for one artificial intelligence (AI)-focused altcoin on the Solana (SOL) network. In a new announcement, the top US crypto exchange says that decentralized physical infrastructure network (DePIN) io.net (IO) is being added to the platform for trading. Says Coinbase, “Trading will begin on or after 9 a.m. Pacific Time on October 9th, 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our IO-USD trading pair will launch in phases. Support for IO may be restricted in some supported jurisdictions.” IO is trading for $1.77 at time of writing, down…

Cardano (ADA) co-creator Charles Hoskinson is dispelling rumors that the Ethereum (ETH) competitor is a dying blockchain. In a new thread on the social media platform X, the Input Output Hong Kong (IOHK) CEO says that the negative sentiment surrounding Cardano has to do with its governance protocol not scaling to meet its needs, an issue solved by the most recent Voltaire update. “There have been years of pent-up grievances, unexplored road map items, unfunded growth strategies, and needed partnerships that haven’t been addressed due to Cardano’s governance not scaling to meet the needs of the ecosystem. Now that Voltaire…

Payments giant Stripe is announcing global support for USDC settlements over the Ethereum (ETH), Solana (SOL), and Polygon (POL) blockchains. In a new post on the social media platform X, Jeff Weinstein, the head of products at Stripe, says that crypto assets are officially back on the platform and will be available for use in over 150 countries around the world. ] “Okay, crypto on Stripe is officially back! Accept stablecoins from 150+ countries Buyers pay in USDC (via Ethereum, Solana, Polygon) You, as a USA business, receive USD Works with checkout, elements, or payment intents (and soon subscriptions). We’re…

Market intelligence firm DappRadar says that layer-1 crypto projects Sui (SUI) and Aptos (APT) emerged as the standout performers in the decentralized finance (DeFi) space in Q3 of 2024. In a new report, DappRadar says that Sui and Aptos saw an impressive increase in total value locked (TVL), the metric representing the amount of assets staked or locked in a platform. During the period, the TVLs of both Sui and Aptos surpassed $1 billion, which marks nearly 80% growth for each of the two chains. “Both platforms recorded impressive TVL growth, with each seeing a 78% increase since Q2. This surge…

Crypto analytics platform Santiment is naming 20 digital assets that may soon rally based upon one key metric. In a new thread on the social media platform X, the firm says 20 digital assets are standing out for the amount of negative public sentiment they are receiving on social media platforms, including decentralized oracle network Chainlink (LINK) and smart contract platform Ethereum (ETH). The negative sentiment suggests these digital assets may soon surge, according to Santiment. “Chainlink, Ethereum, Bitcoin, Solana and XRP are the assets the crowd has turned the most negative on during this mild crypto slump. Coins with…

A widely followed crypto analyst believes that digital assets are in the “first stage” of a bull market. Crypto trader Michaël van de Poppe tells his 729,100 followers on the social media platform X that two trends are indicating a digital asset market with more upside potential. “The first stage of the bull is recognized by two different things: People are stuck in the bear market mindset. The price action is weak and slow. That’s the current stage. Prices are crawling upwards, but not as much. What does it mean? Buy the dip and hold on altcoins.” Next up, the…

Real Vision’s chief crypto analyst Jamie Coutts is saying that a major Bitcoin (BTC) metric is flashing a bullish signal. Coutts says that the number of active Bitcoin addresses is rising after a downtrend that lasted for eleven months. According to Coutts, the number of active Bitcoin addresses as a predictive tool remains “one of the most significant base-level on-chain metrics.” The Real Vision cryptocurrency analyst further says that Bitcoin could surge to between $147,600 and $184,500 this cycle. “While I anticipate Bitcoin reaching 2x to 2.5x its all-time high this cycle, a corresponding breakout in base chain active addresses…

A widely followed cryptocurrency analyst and trader is leaning bullish on Bitcoin (BTC) while offering his outlook on three altcoins. The analyst pseudonymously known as Sherpa tells his 224,200 followers on the social media platform X that Bitcoin is experiencing “extremely tight” price compression as evidenced by the convergence of the 25-period, 55-period, 100-period and the 200-period exponential moving averages on the daily chart. The pseudonymous analyst says, “Big move coming, probably to the upside.” Bitcoin is trading at $62,150 at time of writing. Next up is layer-1 altcoin Sui (SUI). According to Sherpa, Sui has witnessed “insane” price performance…

Hedge fund manager Hugh Hendry is betting on Bitcoin (BTC) and low interest rates next year. Hendry says there “always two ever-present tail risks” in a short volatility investment strategy, which aims to profit off decreases in market volatility by selling options. “Do you buy the call option that the Mag-7 become capitalized at 100% of GDP or that rates descend rapidly to the lower bound? That’s why I keep hammering on about observing where stock levels are on the day of the next cut. I’m running a barbell: long BTC and long calls on <2% Fed Funds at year…

A participant in Ethereum’s 2014 initial coin offering (ICO) has reportedly unloaded more than $113 million worth of ETH in the past couple of weeks. The crypto tracker Lookonchain notes the whale dumped 5,000 ETH worth $12.22 million to a Kraken deposit address on Monday, continuing a selling spree that started last month. Since September 22nd, the whale has sold a total of 45,000 ETH worth $113.2 million. The address still holds 94,500 ETH worth $230.2 million. Lookonchain notes the ICO participant received 150,000 ETH at the Genesis block for a total cost of $46,500, meaning the whale’s initial average…