Author: The Daily Hodl

Venture capitalist Arthur Cheong believes that one decentralized finance (DeFi) altcoin may be gearing up for a massive breakout. The DeFiance Capital CEO tells his 176,400 followers on the social media platform X that several factors are signaling bullishness for lending platform Aave (AAVE). He suggests Aave’s open interest (OI), which is the total number of outstanding derivatives contracts for a given asset, may have bottomed after a large decline in the last month. “AAVE price is holding up very well despite the leverage flush on the perps over the past few weeks: 1. Open Interest at 30 days low,…

The filmmaker behind an upcoming HBO documentary has promised a “rollercoaster” probe into the identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto. On Thursday, Cullen Hoback dropped a teaser for his new BTC documentary, “Money Electric: The Bitcoin Mystery.” He also teased the possibility of exposing the identity of the long-mysterious Nakamoto. “A few of you might have wondered why I disappeared. Well, I was tracking down someone else who disappeared. Curious who’s behind Bitcoin?” The promotion sparked a flurry of headlines claiming Hoback pledged to unearth Nakamoto’s identity, though it remains unclear whether the filmmaker’s ambiguous language is an actual…

A cryptocurrency trader and analyst says one red-hot Solana (SOL)-based memecoin may have even more upside potential. The analyst pseudonymously known as Altcoin Sherpa tells his 11,300 YouTube subscribers that Popcat (POPCAT) could soon flip $1 into a support level. “One coin that I think still looks pretty good is Popcat. I think this coin is going to break the $1 area significantly. I don’t know when. And if Bitcoin shits the bed, then obviously it’s not going to. But it still looks incredibly strong. And I’m still of the opinion that cats catch up to dogs a little bit…

Veteran trader Peter Brandt is issuing a warning about Bitcoin (BTC) amid the flagship crypto’s decline to the $60,000 level. Brandt tells his 741,200 followers on the social media platform X that Bitcoin still needs to hit higher price targets on the weekly timeframe to confirm that its bullish trend is intact. “The recent rally in Bitcoin did not disturb the seven-month [price] sequence of lower highs and lower lows. Only a close above $71,000 confirmed by a new ATH (all-time high) will indicate that the trend from the November 2022 low remains in force.” Next, Brandt says Bitcoin seems…

A widely followed cryptocurrency analyst and trader is highlighting one memecoin that he believes possesses more upside potential while offering his insights on layer-1 altcoin Sui (SUI). The analyst pseudonymously known as Bluntz tells his 278,500 followers on the social media platform X that the feline-inspired memecoin, Simon’s Cat (CAT), “looks finally ready for the next leg higher.” According to the analyst who regularly applies the Elliott Wave theory in his technical analysis, CAT has completed a three-wave correction to the downside in the four-hour time frame and has enjoyed a “few days of accumulation.” The Elliott Wave theory states…

A widely followed cryptocurrency trader and analyst is leaning bearish on Bitcoin (BTC) and Ethereum (ETH) amid a market downturn. The trader pseudonymously known as Capo tells his 866,300 followers on the social media platform X that Bitcoin and Ethereum could fall by up to 21% and 23%, respectively, from the current levels. “There’s a possibility of one last shakeout, with BTC testing the $48,000 – $50,000 zone and ETH $1,800 – $2,000, before the real altcoin season begins.” Bitcoin is trading at $60,508 at time of writing, down by 6% over the past seven days. Ethereum is trading at…

A memecoin built on the Ethereum (ETH) layer-2 scaling solution Base is up nearly 128% in the past 24 hours after being added to Coinbase’s listing roadmap. Degen (DEGEN) is trading at $0.009 at time of writing, up from around $0.004 one day ago. The memecoin, which launched on Base in January, serves as a reward token for Farcaster, a blockchain protocol for building social networks. The project aims to give users of Farcaster’s ecosystem the ability to reward those “posting quality content” and bridge “the gap between online contributions and real-world value.” Coinbase also added the Solana (SOL)-based altcoin…

Pantera Capital CEO Dan Morehead thinks the US will have a “rational policy on blockchain” regardless of who wins November’s presidential election. In a recent newsletter, Morehead points to Vice President Kamala Harris’ decision to mention the blockchain sector in a speech last week. At a campaign event in Pittsburgh on September 25th, Harris spoke about the importance of the country’s technological and industrial strength. “I will recommit the nation to global leadership in the sectors that will define the next century. We will invest in biomanufacturing and aerospace; remain dominant in AI (artificial intelligence) and quantum computing, blockchain and…

A widely followed crypto analyst says that one catalyst could spark a bull run for Bitcoin (BTC) and other digital assets. In a new video update, crypto strategist Jason Pizzino tells his 334,000 YouTube subscribers that the latest BTC crash can be attributed to the US dollar breaking out of its slump. “Bitcoin also dropped for a few days but then found its peak when the US dollar found its low… Now we find ourselves at the present day where we’ve just seen the US dollar break out of its downtrend… And this seems to have put pressure on Bitcoin,…

A closely followed crypto strategist is warning that one modular blockchain project may be on the verge of collapse. Pseudonymous analyst Altcoin Sherpa tells his 224,000 followers on the social media platform X that layer-1 Celestia (TIA) could plummet by more than 77% from its current value due to prolonged investor selling. The analyst cites another X user’s research allegedly showing the wallets of the project’s initial investors making steady sales. “This is why TIA will eventually go to sub $1 in my opinion. Investors who got in at $0.02 are going to keep dumping staked tokens. Will this have…