Author: The Daily Hodl
Top US crypto exchange Coinbase has added a red-hot memecoin to its roster of potential upcoming listings. In an announcement, Coinbase says that it has added MOG Coin (MOG) to its listing roadmap, which the exchange uses for transparency and to prevent insider trading on coins prior to them being listed. The announcement means the firm has determined the asset will likely be available for trading in the near future. MOG is trading for $0.000002414 at time of writing, up more than 8,776% in the last year. With a market cap of $944.5 million, Mog Coin is the 138th largest…
Volatility rocked the Korean crypto markets on Tuesday after the government briefly declared martial law, sending Korean Won (KRW)-priced digital assets into discount territory. South Korean President Yoon Suk Yeol declared martial law in a seemingly politically motivated move, prompting the military to attempt to enter parliament in Seoul. However, shortly thereafter, every single member of Korean parliament voted against the president’s declaration, making it invalid. During the commotion, BTC prices in KRW dipped dramatically. Says Korean-based CryptoQuant CEO Ki Young Ju, “South Korea’s financial markets are in chaos because of the president’s political show.” Traders often watch the price…
The co-creator of Meta’s ill-fated crypto payment project Libra says a political hit job stymied their efforts. David Marcus says Libra, later renamed Diem, would have “solved global payments at scale.” The tech executive notes his team spent months briefing “key regulators” in the US and abroad prior to announcing the project in June 2019 alongside 28 other companies. “Two weeks later, I was called to testify in front of both the Senate Banking Committee and the House Financial Services Committee, which was the starting point of two years of nonstop work and changes to appease lawmakers and regulators. By spring…
Digital asset exchange Coinbase is pushing back against accusations that it isn’t supporting Ethereum’s (ETH) scaling roadmap. The top US crypto exchange came under fire online after it announced last week that it wouldn’t support Celo’s (CELO) upcoming migration from a standalone layer-1 chain to an Ethereum layer-2. Multiple Celo executives blasted the decision, including Celo Foundation president Rene Reinsberg and Marek Olszewski, the chief executive of Celo developer cLabs, who said Coinbase’s announcement felt “like a wrench in Ethereum’s layer-2-centric scaling roadmap.” Coinbase, however, says it plans to “reevaluate” Celo L2 after the technical migration is complete. “Any accusation…
Former Goldman Sachs executive Raoul Pal thinks exchanges and other crypto intermediaries are giving power to individuals to revolutionize their finances. Pal recently polled his one million followers on the social media platform X, asking whether their personal portfolios outperformed or underperformed the S&P 500 this year. Nearly 11,000 people responded, with 80.7% of them claiming their portfolios beat the S&P 500, which is up 27.5% year-to-date. Pal says the overwhelming majority of people outperforming the S&P 500 is a sign that everyday investors are sharing ideas to beat market experts. “The BIG idea here is that the exponential trend…
A widely followed crypto strategist believes it’s only a matter of time before top memecoin Dogecoin (DOGE) erupts. Pseudonymous analyst Bluntz tells his 301,200 followers on the social media platform X that DOGE only needs to take out its diagonal resistance at around $0.50 to ignite rallies to a fresh all-time high. “When DOGE finally breaks this three-week range, the upside move will be violent, just like the last one, in my opinion. Tick tock.” Looking at the trader’s chart, he seems to predict that DOGE can surge to a new record high above $0.90. At time of writing, DOGE…
A closely followed analyst believes the economy is in the midst of an “everything bubble” that still has more potential to grow. Analyst Jason Pizzino tells his 121,100 followers on the social media platform X that peak cycle highs may still be a ways off for assets like stocks and crypto. “When we take a broad look at the market there are still a lot of investors that are thinking the stock market, real estate and crypto gains so far are ‘too good to be true’ and this time they’re going to get out before the crash. This is NOT…
A crypto strategist who nailed the pre-halving Bitcoin (BTC) correction earlier this year says altcoins will likely rip once this large-cap coin takes center stage. Pseudonymous analyst Rekt Capital tells his 517,800 followers on the social media platform X that a bullish Ethereum (ETH) would be very favorable for the altcoin market. “An ETH breakout would lead the next wave of altcoin rallies.” Looking at Ethereum, the trader says ETH is very close to sparking a high timeframe breakout. “Ethereum is now pressing past the ~$3,700 resistance of its main pattern (light blue). A weekly close above the pattern top…
Digital assets manager CoinShares says institutional investors have now allocated nearly $40 billion to crypto products this year. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in net inflows that brought yearly flows to $37.3 billion last week, a new record. “Digital asset investment products saw inflows totaling US$270m last week, while the flows displayed an unusual dichotomy between assets within the asset class. Since the launch of options on US ETFs, despite their high initial volumes, we have not seen a commensurate rise in ETP volumes at US$22bn last…
A new animal-based memecoin is surging to start the week, as Coinbase adds the crypto asset to its listing roadmap. Moo Deng (MOODENG), a crypto asset honoring the baby hippo who became an international sensation, soared 108% as the top US crypto exchange made the announcement. The Solana-based memecoin is now up 59% at time of publishing, at $0.5609, with a market cap of $555.8 million. The announcement from Coinbase means the firm has determined the asset will be available for trading in the near future, although the coin is not yet live on the platform. Moo Deng launched in…