Author: The Daily Hodl

An analyst known as a “Master Trader” on the crypto exchange Bybit thinks an altcoin running on the Ethereum (ETH) network is ready to take center stage. Pseudonymous analyst Bluntz tells his 301,800 followers on the social media platform X that he thinks the Ethereum-based decentralized oracle Chainlink (LINK) is poised to spark a five-wave surge to a new all-time high. Bluntz relies on the Elliott Wave theory, a technical analysis approach that states a bullish asset often witnesses a five-wave rally. Says Bluntz, “Major breakout on LINK today, all you have to do is take one look at LINK/BTC…

An analyst at the asset management giant Bernstein thinks Ethereum’s risk-to-reward ratio “looks attractive” given ETH’s relative underperformance recently. Gautam Chhugani, the managing director of Bernstein’s global digital assets division, notes that Ethereum’s total supply has remained mostly stagnant since the network transitioned to proof-of-stake and adopted a burn mechanism. “Yet, Ethereum’s underlying transaction fees drive a steady yield of ~3% (in ETH terms) to Ethereum stakers. This keeps ~28% of ETH supply locked in staking contracts. Further, another ~10% of ETH remains locked in Deposit/Lending contracts on the blockchain and bridged to layer-2 chains. ~60% of ETH has not…

A widely followed crypto analyst says that three prominent altcoins including Ethereum (ETH) look primed to skyrocket. In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 519,200 followers on the social media platform X that if the second-largest crypto asset by market cap can maintain a key support level at $3,650, it could rally to $4,000. “The volatile retest is playing out perfectly. In fact, the retest of the trendline as new support appears to be successful continued stability at the $3,650 region would enable a challenge into $4000 (red).” Ethereum is trading for $3,790 at time…

Coinbase’s fiat-to-crypto payment tool has integrated Apple Pay in an effort to make digital asset onramping easier. Coinbase Onramp enables users to buy or transfer supported crypto on the exchange’s website or directly from self-custody wallets. It aims to allow developers to move money efficiently between fiat and on-chain economies. The exchange says in a new press release that integrating Apple Pay enables a faster end-to-end experience and easier crypto onramping for the 60 million US customers who use the Apple payment product. “Coinbase Onramp makes it easy to build fiat onramps into your app so you can focus on what matters…

Bitcoin Cash (BCH) pioneer and early crypto adopter Roger Ver is asking courts to dismiss an indictment that charges him with evading $50 million in taxes. Ver, an early investor of Bitcoin (BTC) who later decided to support the BCH fork, was arrested in Spain in late April at the direction of the Department of Justice (DOJ). Ver faces multiple charges, including mail fraud, tax evasion and filing false tax returns. Despite renouncing his United States citizenship in 2014 after obtaining citizenship in Saint Kitts and Nevis, authorities say Ver should’ve filed tax returns that reported capital gains from the…

A Solana (SOL)-based memecoin is surging by double digits after Coinbase added the crypto asset to its listing roadmap. Gigachad (GIGA), a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, soared 51% as the top US crypto exchange made the announcement. GIGA was trading for $0.0414 Wednesday morning and shot up to a high of $0.0627. GIGA has since retraced and is trading for $0.04856 at time of writing. With a market cap of $467.5 million, GIGA is the 237th largest crypto project. Coinbase uses the listing roadmap for transparency and to prevent insider trading on…

The chief executive of blockchain intelligence platform CryptoQuant believes a potential incoming altseason will not be like prior ones for one key reason. On-chain analyst Ki Young Ju tells his 381,200 followers on the social media platform X that, unlike past cycles, liquidity can no longer flow at the same levels from Bitcoin (BTC) into altcoins, sending them soaring. The analyst says there is now massive traditional finance participation in Bitcoin, including through spot market BTC exchange-traded funds (ETFs) and increased buying by software company MicroStrategy (MSTR). “This alt season won’t be what you expected. It’s going to be weird…

The chief investment officer of a financial research boutique believes that Bitcoin (BTC) could face a supply shock once it clears the $100,000 price level. In a new CNBC interview, Fundstrat’s Tom Lee says Bitcoin’s scarcity is starting to be a problem for crypto exchanges. Lee says the dwindling supply of available BTC for sale will likely be felt once Bitcoin shatters the psychological price point of $100,000. “I think some of this could be – there’s a lot of folks who don’t want Bitcoin over $100,000 and some of it may be the exchanges themselves [that] are concerned, because…

Former Goldman Sachs executive Raoul Pal is leaning bullish on the flagship memecoin amid the rise of XRP by more than 5x over the past 30 days. Pal tells his 1.1 million followers on the social media platform X Dogecoin (DOGE) is sporting a wedge pattern on the monthly chart and could be headed for gains that “look similar in potential magnitude” to those of XRP. A wedge pattern is characterized by converging trend lines and is considered bullish if price breaks out from above the upper trendline. “Insane banana chart.” A “Banana” chart or zone is a metaphor Pal…

A widely followed analyst is leaning bullish on layer-1 blockchain Avalanche (AVAX) while offering his forecast for the flagship memecoin Dogecoin (DOGE) and interoperable chain Polkadot (DOT). The analyst pseudonymously known as Rekt Capital tells his 518,000 followers on the social media platform X that Avalanche witnessed a strong November. “Avalanche performed a historically bullish monthly close above the light blue level of $38.57. Any dips [below $38.57] in the future would be a retest attempt, in a very similar fashion to the retests from Sept 2021 and March 2024 (green/orange circles).” Based on the trader’s chart, he seems to…