Author: The Daily Hodl

A cross-chain protocol’s altcoin is soaring after Korea’s biggest crypto exchange announced support for trading. Messaging protocol Wormhole (W) shot up from a 24-hour low of $0.28 to a current value of $0.37, a more than 32% increase after crypto exchange Upbit announced support on the Solana (SOL) network. With a market cap of $959.7 million, Wormhole is now the 82nd largest crypto project. Wormhole aims to facilitate an efficient transfer of liquidity and data across various blockchains. Wormhole was launched in 2020 by Jump Crypto with help from the Solana Foundation. Wormhole had an initial focus on bridging Solana…

The head of digital assets at BlackRock, Robert Mitchnick, is reportedly saying that the spot Ethereum (ETH) exchange-traded fund (ETF) launched earlier this year by the global investment giant has attracted a lower volume of inflows relative to a similar Bitcoin (BTC) product. The business publication Fortune cites Mitchnick saying that inflows into BlackRock’s iShares Ethereum Trust (ETHA) ETF are “underwhelming” relative to inflows into the monolith asset manager’s iShares Bitcoin Trust (IBIT) ETF. According to the crypto assets tracking platform SosoValue, the cumulative net inflows into IBIT is $21.5 billion as of September 30th. As of the same period,…

Ethereum (ETH) creator Vitalik Buterin isn’t dissuaded by the controversy surrounding the decentralized betting platform Polymarket. The Polygon-based betting platform has sparked criticism for offering war markets related to the ongoing conflicts in the Middle East between Israel, Hezbollah and Hamas. Markets like “Israeli forces enter Lebanon in September?” and “U.S. evacuates Beirut Embassy by October 31?” allow users to bet on the outcomes of geopolitical conflicts. One X user argued that it “feels wrong that Polymarket has an entire Hezbollah betting section that makes a war look like a football game to bet on.” Buterin, a Polymarket investor, pushed back against…

A closely followed trader known for making timely altcoin calls believes six crypto assets are the fastest horses in the digital asset race. Pseudonymous analyst The Flow Horse tells his Telegram subscribers that six altcoins are ahead of the crypto pack including projects in the artificial intelligence (AI), memecoin and layer-1 sectors. “Memes are more diverse, AI is led by TAO. Wif, Bonk, Pepe. Sei and Sui still strong. I would not really diversify outside of this leading pack until the market makes it very obvious. Be late to that change if you must.”  With the latest crypto correction, The…

A popular on-chain analyst says Bitcoin (BTC) is no longer looking bearish based on several key indicators. Pseudonymous on-chain sleuth Checkmate tells his 98,300 followers on the social media platform X that Bitcoin’s Active-Value-to-Investor-Value (AVIV) ratio has moved from a downtrend signal to a neutral one. The AVIV is the ratio between the active capitalization, which excludes lost or inactive coins, and the realized capitalization of investors, the price at which the BTC was purchased. The indicator helps gauge whether Bitcoin is overbought or oversold. “Bitcoin market momentum is back to neutral across multiple timeframes. Not strictly bullish, but no…

BitMEX founder Arthur Hayes thinks it’s going to be “very, very difficult” for other smart-contract platforms to surpass Ethereum (ETH). Hayes says in a new interview with The Big Whale that Ethereum currently leads the pack in terms of innovative applications and number of developers. He argues that innovations start on Ethereum and then “copycats” materialize on other chains. “The Ethereum technology and the people building these things, they’re the most innovative, and then everybody else copies them. So until I see a new chain where a new primitive is launched there first, and it hasn’t started on the Ethereum…

A crypto strategist who supercharged his following after nailing the Bitcoin (BTC) 2018 bottom believes one memecoin is gearing up to spark more rallies. Pseudonymous analyst Bluntz tells his 277,200 followers on the social media platform X that he thinks the frog-themed, Ethereum (ETH)-based meme token Pepe (PEPE) is set to witness bullish continuation after pulling back in the last few days. The trader shares a chart suggesting that PEPE will rally close to $0.000014 before ending its five-wave surge. “Nice little PEPE dip this fine Sunday evening, I think it should be bottoming around here any minute now. There…

Robinhood is announcing the addition of one of the most requested app features in European markets. According to a new press release, Robinhood Crypto customers in Europe can now complete crypto transfers using the Robinhood trading app. “Crypto transfers enable customers to deposit and withdraw more than 20 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USD Coin (USDC), and others, giving them greater flexibility and control over their digital assets.” The launch announcement is also accompanied by a special promotion offering users a 1% match on crypto deposits. Says Johann Kerbrat, VP and GM of Robinhood Crypto, “With the…

A popular analyst and trader says Bitcoin (BTC) may be gearing up for a breakout after holding a key support level. The analyst pseudonymously known as Rekt Capital says in his newsletter that Bitcoin is looking bullish on the weekly time frame and could soon make a run to around $67,000 to kick-off October. “Bitcoin recently formed a new higher high and performed a weekly close above the late August resistance of $64,300 (green), which now means that BTC will try to reclaim this old resistance into new support. There may be downside volatility on this retrace but if BTC…

Cryptocurrency analyst Benjamin Cowen is warning that the US unemployment rate may have a significant impact on Bitcoin (BTC). In a video update, Cowen tells his 814,000 YouTube subscribers that because of the historical correlation between employment data and risk assets, if the US unemployment rate continues to rise to close out the year Bitcoin may remain in a bear market. “If it follows the [cycle] from 2000, the unemployment rate moving up by the end of the year, it could be at 4.8%, 4.9%. Now, if the unemployment rate is at 4.9% by the end of the year, it would…