Author: The Daily Hodl
The executive chairman and co-founder of enterprise software firm MicroStrategy, Michael Saylor, believes Bitcoin (BTC) will always appreciate against the US dollar. In a new interview with Yahoo Finance, Bitcoin bull Saylor says that the flagship crypto asset is on track to eventually hit $1 million after breaking through the $100,000 resistance level earlier this week. “It’s still less than $1 million a coin. You’re getting a 90% discount from $1 million a coin. I’m sure that I will be buying Bitcoin at $1 million a coin, probably a billion dollars a day of Bitcoin at $1 million a coin.…
Circle announced this week that USDC became the first stablecoin to gain compliance with new Canadian digital asset regulations. Canada’s new regulations call for delisting noncompliant stablecoins after December 31st. Circle’s compliance means USDC, which aims to maintain a 1:1 peg with the US dollar, can trade on crypto exchanges in the Canadian market, according to a new press release. Dante Disparte, chief strategy officer and head of global policy at Circle, says the new development underscores the stablecoin issuer’s regulatory efforts. “The Canadian Securities Administrators’ proactive approach in providing a digital asset regulatory framework reinforces the integrity of digital…
A widely followed cryptocurrency analyst and trader is leaning bullish on the second-largest memecoin by market capitalization. The analyst pseudonymously known as Bluntz tells his 302,600 followers on the social media platform X that a “god candle”, a massive candlestick denoting a rapid and sustained upward price action, is loading for Shiba Inu (SHIB) as the Dogecoin (DOGE) rival attempts to break above a resistance level that has been in place since March. “shib god candle loading” The widely followed analyst further says, “I’m convinced retail [investing crowd] is going to pump SHIB when the meme bid comes back because…
Former Goldman Sachs executive and macro expert Raoul Pal is leaning bullish on a large-cap Ethereum (ETH) competitor. Pal tells his 1.1 million followers on the social media platform X that there “literally couldn’t be a more bullish long-term chart” than that of Solana (SOL) on the weekly time frame. “When it breaks higher, it’s going to ACCELERATE.” Based on Pal’s one-week chart, it appears that the macro guru is suggesting that Solana broke out of a descending channel and is now targeting to go above the resistance level around the all-time high price of just above $260. Solana is…
The co-founders of the crypto analytics platform Glassnode are issuing a warning that Bitcoin (BTC) may be heading for a severe correction after its historic $100,000 breakthrough. Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that the Bitcoin Fundamental Index (BFI) metric is singling a weakening market. The BFI evaluates several aspects of the Bitcoin market, including wallet activity and transaction volume. When it declines, the risk of a market correction increases. “Not to rain on the parade, but Bitcoin has crossed $100,000, yet the Bitcoin Fundamental…
A widely followed analyst and trader is leaning bullish on a large-cap altcoin that has skyrocketed by over 5x in a month. The analyst pseudonymously known as Sherpa tells his 233,400 followers on the social media platform X that he “wouldn’t be surprised to see” XRP break out into a new all-time high on its US dollar pair. XRP is trading at $2.65 at time of writing, around 23% below the all-time high of $3.40. The third-largest crypto asset by market cap is up by around 434% since November 4th. According to the pseudonymous analyst, the XRP/Bitcoin pair presents a…
A memecoin based on the name and likeness of a baby hippopotamus in a Thai zoo is stumbling at the gates following a new Coinbase listing. Yesterday, Coinbase announced the listing of Moo Deng (MOODENG), a Solana (SOL)-based memecoin. “Moo Deng (MOODENG) is now live on http://coinbase.com & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.” Moo Deng is the name of a baby pygmy hippopotamus born in the Khao Kheow Open Zoo in Si Racha, Chonburi, Thailand, this past summer. The hippo has become an…
A closely followed crypto analyst says that one Ethereum (ETH)-based altcoin is gearing up for a massive rally while updating his outlook on Bitcoin (BTC). In a new strategy session, crypto trader Justin Bennett tells his 114,600 followers on the social media platform X that decentralized exchange (DEX) Curve Finance (CRV) looks primed to skyrocket by over 500%. “Unsure if we’ll even get the pullback first, but CRV looks ready for $6.80 while above $0.87.” CRV is trading for $1.11 at time of writing, a 2.7% decrease during the last 24 hours. A spike to Bennett’s target price of $6.80…
Bitcoin (BTC) shattered the $100,000 milestone for the first time after President-elect Donald Trump announced his new pick to chair the U.S. Securities and Exchange Commission (SEC). According to a new report by AP News, Trump has picked former SEC Commissioner and current Patomak Partners chief executive Paul Atkins to head the regulatory agency. As stated by Trump on Truth social media, according to AP, “[Atkins] believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, and that provide capital to make our economy the best in the world. He also recognizes that…
Leading crypto asset manager Grayscale just submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) to convert its Solana Trust into a spot exchange-traded fund. The Digital Currency Group (DCG) subsidiary’s Solana Trust is currently the largest Solana investment fund by assets under management (AUM). It manages $134.2 million worth of SOL, roughly 0.1% of all Solana in circulation. Grayscale says it is seeking to list the Solana Trust as an ETF so it can closely track the value of the underlying crypto asset. “The Sponsor thus believes that allowing Shares of the Trust to list and…