Author: The Daily Hodl
Regulators in Taiwan are reportedly planning a trial run of crypto custody services in local banks next year. According to a new report by the Central News Agency (CNA), a media outlet backed by the government of Singapore, Taiwan’s Financial Supervisory Commission (FSC) is planning on letting banks trial digital asset custody services starting Q1 of 2025. So far, three private banks have expressed interest in the program. According to the report, Hu Zehua, Director of the Comprehensive Planning Division of the FSC, said during a press conference that before accepting applications, there will be a 15-day period for external…
The head of blockchain analytics platform CryptoQuant says that ancient Bitcoin (BTC) whales are largely remaining dormant. Ki Young Ju tells his 363,800 followers on the social media platform X that the Spent Output Age Bands (SOAB) metric indicates long-term holders of Bitcoin are not moving their coins. The SOAB bundles spent coins into categories depending on their age and presents them in colored bands as a proportion of total coins moved. “Ancient Bitcoin whales are still sleeping. Moving Bitcoins dormant for seven-plus years has historically triggered market volatility, depending on source and destination. (Mt. Gox excluded in this chart).…
A top analyst known for calling Bitcoin (BTC) bottoms is warning that the rallies witnessed by the crypto markets to start the week may been a bull trap. Pseudonymous analyst Bluntz tells his 279,800 followers on the social media platform X that Bitcoin looks short-term bearish after failing to rally above 0.618 Fibonacci level. Traders use Fibonacci levels to identify potential support and resistance levels. Says Bluntz, “Gut is telling me these early-week crypto pumps might have been a trap. Had a good look at DXY and ES (S&P 500 E-mini futures) today and gave myself a bit of a…
Residents of a town in Texas are suing a publicly listed Bitcoin (BTC) mining firm over noise pollution. According to a lawsuit filed earlier this month by Citizens Concerned About Wolf Hollow, a community group for residents of Granbury in Hood County, Texas, a cryptocurrency mine currently operated by Marathon Digital Holdings (NASDAQ: MARA) is causing “intolerably loud noise conditions.” “The excessive noise conditions created by Marathon constitute a nuisance that invades and substantially interferes with the use and enjoyment of Citizens Concerned About Wolf Hollow’s Members’ respective properties by causing extreme discomfort and annoyance to Citizens Concerned About Wolf…
Investment management giant VanEck is launching a new multimillion-dollar venture fund focused on crypto and artificial intelligence (AI). In a new press release, the exchange-trade fund (ETF) provider announces the launch of VanEck Ventures, a $30 million early seed fund focused on investing in firms that are “operating at the intersection of fintech, digital assets, and AI.” As stated by Jan van Eck, CEO of the firm, “From pioneering an approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a long-term view on transformative opportunities has always been part of our investment philosophy.…
Bitwise CIO Matt Hougan says three conditions could pave the way for Bitcoin (BTC) to rip to the $80,000 level before the end of the year. In a new note to investors, Hougan references a prediction that Bitwise made at the end of 2023 forecasting that BTC would trade above the $80,000 level in 2024. With Q4 underway, the investor now says that for the price target to be hit, Bitcoin needs three conditions to unfold. Hougan’s first condition is an election that results in “anything but a Democratic sweep.” While a Republican victory would portend well for crypto, the…
A popular crypto trader thinks one Dogecoin (DOGE) rival could be headed for a breakout soon. The pseudonymous analyst known as Altcoin Sherpa tells his 224,000 followers on the social media platform X that if the Solana (SOL)-based memecoin dogwifhat (WIF) manages to break above the $2.845 range, it could surge toward $3.50. Despite the possible breakout, Altcoin Sherpa says he wouldn’t buy at WIF’s current level. WIF is trading at $2.47 at time of writing. The 42nd-ranked crypto asset by market cap is down more than 7.6% in the past 24 hours. The analyst also thinks the memecoin Popcat (POPCAT)…
Fundstrat’s Tom Lee says that stocks may be heading to new all-time highs (ATHs) over the coming months. In a new interview on CNBC, Lee says that three main factors may extend the S&P 500 bull market into next year. “Bull markets are supported by strong fundamentals. And this is a case where not only has the economy survived extremely high interest rates, but the Fed is beginning to cut rates. And an economy that has sort of been languishing has been China, and now we have some stimulus and what looks like some bazooka policies that is supporting that…
A widely followed crypto analyst believes Bitcoin (BTC) is poised for one more liquidation event before sparking a fresh bull run. Trader Justin Bennett tells his 112,400 followers on the social media platform X that Bitcoin’s heatmap suggests that BTC bulls have piled up long positions at $57,000. The crypto strategist thinks that the market will likely hunt the liquidity zone to shake out those who were early before BTC witnesses a big upside move. “The size of the BTC long liquidations at $57,000 is FAR greater than the shorts we saw liquidated at $63,000. It would be a shame…
The co-founder of Aptos (APT) believes that the layer-1 crypto project is on the verge of massive mainstream adoption. In a new interview with crypto influencer Scott Melker, Aptos CEO and co-founder Mo Shaikh says that the speed of the Aptos network makes it a highly attractive blockchain for payments. He also says that Aptos’ new cold storage wallet card designed to hold a user’s digital asset portfolio could make crypto payments more mainstream. “I think in one to two years we would love to see card and mobile wallet penetration increase to greater than 20% of all cardholders or…