Author: The Daily Hodl

Gamblers on crypto betting platform Polymarket are weighing in on the possible identity of pseudonymous Bitcoin (BTC) creator Satoshi Nakamoto before a new HBO documentary reveals his true name. According to data from the Polygon (POL)-based platform, the overwhelming majority of bettors believe the documentary will reveal deceased American cryptographer Len Sassaman, known for his work on the Mixmaster anonymous retailer, as the creator of BTC. The statistics show that 51.5% of those placing bets believe Sassaman created the flagship digital asset over a decade ago. In second place is deceased American software developer Hal Finney at 10.8% while Adam…

Analyst and trader Justin Bennett is outlining one scenario where Bitcoin (BTC) may suddenly soar to $70,000. Bennett tells his 111,600 followers on the social media platform X that he can see one way Bitcoin surges more than 12% from its current value without first dipping below $60,000. “A counterargument to my calls for BTC $57,000 before $70,000 is this four-hour channel. If Bitcoin can reclaim $63,000-$64,000 we can start talking about sweeping the $69,000-$70,000 shorts. If it can’t and these support levels start to fail, $57,000 becomes the target.” Bennett warns that Bitcoin’s reclaim of the $62,000 level Friday…

A widely followed crypto analyst believes one Ethereum (ETH)-based altcoin is gearing up for a massive breakout. Crypto trader Michaël van de Poppe tells his 727,900 followers on the social media platform X that decentralized oracle network Chainlink (LINK) is looking bullish on the weekly timeframe as it consolidates above the key support level of $9.54. He also highlights key resistance levels to the upside on the weekly chart, including $12.20, $16.05 and $18.55. “Chainlink is still consolidating above the crucial resistance and flipping that for support. I think anything between $9-$11 is an interesting one to buy into. I…

A widely followed cryptocurrency analyst and trader is turning bullish on a top Ethereum (ETH) rival while offering his insight on XRP and decentralized finance (DeFi) protocol Curve DAO (CRV). Starting with Ethereum competitor Solana (SOL), the analyst pseudonymously known as Credible Crypto tells his 423,200 followers on the social media platform X that he is entering a long position on the fifth-largest crypto asset by market cap. Credible Crypto says his bullish thesis for Solana will be invalidated if SOL falls below $126 while his profit-taking level is around $163. “Pretty simple play based on the assumption we may…

Analyst Benjamin Cowen is leaning bearish on Bitcoin (BTC) amid a single-digit correction by the flagship crypto asset over the past week. Cowen tells his 814,000 YouTube subscribers in a new video that if Bitcoin fails to overcome the upper trend line formed by the series of lower highs on the weekly time frame since March, it is likely to plunge by around 32% from the current level to the lower trend line formed by a series of lower lows generated over the same period on the same time frame. “If Bitcoin is rejected up here [upper trendline] again and…

The crypto asset management giant Grayscale has launched a new trust that offers investors exposure to the decentralized finance (DeFi) protocol Aave (AAVE). The crypto firm’s new product is solely invested in Aave’s native token and functions like the company’s other single-asset trusts. Aave, which launched back in 2017, aims to serve as a decentralized liquidity protocol for lenders and borrowers. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says in a press release that the project has “the potential to revolutionize traditional finance.” “By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to optimize lending and borrowing…

$4.5 billion crypto asset manager Bitwise is filing for its second crypto exchange-traded fund (ETF) this week. According to the U.S. Securities and Exchange Commission (SEC), Bitwise filed a Form N-1A for a new product called the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC) earlier today. A Form N-1A is a required registration form for management companies. This is the second ETF filing that Bitwise has made with the SEC this week. On Wednesday morning, Bitwise submitted an S-1 registration statement to the SEC for a spot XRP ETF tracking the price movements of XRP, according to a…

A widely followed crypto analyst says that Bitcoin (BTC) is gearing up to reach a new all-time high (ATH) if it can break above one crucial resistance zone. In a new strategy session, pseudonymous crypto trader Inmortal tells his 216,300 subscribers on the social media platform X that if the top crypto asset by market cap were to break above the $64,000 price tag, it would skyrocket to a new all-time high. “Breakout above $64,000 = New ATH.” The trader goes on to say that the flagship digital asset’s latest crash, which saw it drop from about $66,000 to $60,000…

New data from blockchain tracker CCData show that the market share of the world’s largest crypto exchange slid to its lowest level in four years. CCData says that in September, Binance’s share in the derivatives market dropped to 40.7%, its lowest since September 2020. Its overall market share in the combined spot and derivatives markets also fell to 36.6%, the lowest in the last four years. Spot trading volume on the platform likewise dropped by 22.9% to $344 billion, the lowest since November 2023 and representing Binance’s lowest spot market share (27%) since January 2021. The exchange also saw its…

Payments giant PayPal has reportedly completed its first business transaction using the dollar-pegged stablecoin it launched last year. Bloomberg reports that on September 23rd, the San Francisco-based company used PayPalUSD (PYUSD) to pay an invoice to the Big Four accounting firm Ernst & Young. Paypal settled the undisclosed amount using SAP digital currency hub, a platform that enables users to make and receive payments in cryptocurrencies and stablecoins without intermediaries. Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, cryptocurrency, and digital currencies, says the payment demonstrates a new use case for the stablecoin, which now has a market…