Author: The Daily Hodl
The software developer who is behind bars because of his involvement in the crypto mixing protocol Tornado Cash will be conditionally released from prison. In a post on social media platform X, Alexey Pertsev says he will be out on Friday after a Dutch court decided to suspend his pretrial detention. He says he has to wear an electronic monitor as a condition for his release. “Dear Friends, on Friday 7 February at 10 am I will be free! It is not real freedom, but it is better than prison.” Pertsev is one of the developers of Tornado Cash, the…
A closely followed crypto analyst is issuing a warning, saying that Bitcoin (BTC) is still showing weakness despite recovering from its latest dip. In a new strategy session, pseudonymous crypto trader Crypto Capo tells his 922,500 followers on the social media platform X that the top crypto asset by market cap could dip to a price tag of between $88,000 and $90,000, noting that altcoins could take a hit as well. “Despite the strong market bounce after the capitulation event, there’s still some underlying weakness. I’ve reopened the hedge position until we see proper bullish confirmations or a second dip,…
A progressive think tank is asking the U.S. Department of Justice (DOJ) to probe the legality of President Donald Trump’s new memecoin. The president launched the Official Trump (TRUMP) memecoin in mid-January, days before he took office. The controversial crypto asset rapidly skyrocketed in value and is now the 41st-largest digital asset by market cap. In a new letter to the DOJ and the Office of Government Ethics, officials at the nonprofit consumer advocacy organization Public Citizen say the memecoin could be a violation of federal law regulating gifts to government officials. Public Citizen officials point out that the TRUMP…
US-based crypto exchange platform Gemini is reportedly mulling over pursuing an initial public offering (IPO) in 2025. According to a new report by Bloomberg, anonymous people familiar with the matter say the billionaire Winklevoss twins’ crypto firm is considering launching an IPO sometime this year. An IPO is when a company sells shares of its own stock to the public for the first time as a means of raising funds. Though the talks are still ongoing, no firm decisions have been made on the matter, the people said, according to the report. Earlier this year, Tyler and Cameron Winklevoss agreed…
Analyst and trader Michaël van de Poppe is flipping bullish on one layer-1 protocol following a massive correction. Van de Poppe tells his 772,700 followers on the social media platform X that NEAR, the native cryptocurrency of Near Protocol, could surge to $20 within months, a 500% increase from its current value. “Pretty ideal spot for NEAR. It took all the liquidity beneath the lows and seems to have a strong weekly candle. If this is the liquidity sweep, then next target is $15-$20 in the next three-six months.” NEAR is trading for $3.33 at time of writing, up 5.6%…
Ethereum (ETH) rival Solana (SOL) could skyrocket to $520 by the end of 2025, according to analysts at the asset management firm VanEck. With SOL trading at $191.43 at time of writing, that would represent an increase of more than 171%. VanEck crypto researchers Matthew Sigel and Patrick Bush base their prediction on Solana’s projected year-end market share within the smart contract platform (SCP) market. The researchers say their market predictions are also tied M2 money supply growth, which has displayed a correlation to the crypto market cap. M2 measures peoples’ cash, checking accounts and other types of deposits that…
Crypto trader and analyst Ali Martinez says Ethereum (ETH) is dangerously close to a major support level. Martinez tells his 123,000 followers on the social media platform X that Ethereum could plunge approximately 39% from the current level to a price of $1,700 if the support level at around $2,500 fails. ETH is worth $2,712 at time of publishing. Martinez’s chart suggests Ethereum is slightly above the lower trendline of an ascending channel pattern on the 12-hour time frame. While an ascending channel pattern is generally considered a bullish signal, a breakout below the lower trendline suggests a bearish reversal.…
Economist Henrik Zeberg believes current market conditions are ripe for a major Bitcoin (BTC) breakout. Zeberg tells his 173,900 followers on the social media platform X that market sentiment has gotten so low that it may indicate the bottom for Bitcoin and other digital assets is close. “BTC reached ATH (all-time high) on January 20th. Since then it has been in a correction. The EW (Elliott Wave)-location seems clear. Sentiment is in the gutter. Massive destruction among alts. But that may be exactly the sentiment we need for the market to move higher.” Zeberg says he believes the top is…
A closely followed crypto analyst says altcoins may undergo an explosive rally once a key Bitcoin (BTC) metric reverses. In a new strategy session, crypto trader Rekt Capital tells his 536,300 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may soon enter a downward phase after hitting a historic peak level, setting alts up to outperform the flagship crypto asset. Bitcoin dominance currently stands at 61.86%. Traders use BTC.D to track if altcoins are outperforming Bitcoin as the metric calculates how much of the crypto market cap belongs to BTC. Rekt also says that alts…
A popular crypto analyst says Bitcoin may experience an aggressive move to the upside once the current consolidation phase ends. In a new video, the analyst pseudonymously known as Credible Crypto tells his 67,500 YouTube subscribers that Bitcoin (BTC) is about to embark on the fifth wave of a bullish trend. According to the analyst who regularly applies the Elliott Wave theory in his technical analysis, BTC could rally by a minimum of 52% from the current level over the coming weeks and months. The Elliott Wave theory states that the main trend of the price of an asset moves…