Author: The Daily Hodl

The chief executive of market insights firm CryptoQuant says that the US is regaining its dominance of Bitcoin (BTC) holdings. In a new post on the social media platform X, Ki Young Ju says that the US recouping its BTC dominance is being driven by demand for spot market exchange-traded funds (ETFs). “The U.S. is regaining dominance in Bitcoin holdings. Its ratio compared to other countries is rising, driven by spot ETF demand. Only known entities are included.” According to Ju, the top crypto asset by market cap has conquered FUD (fear, uncertainty and doubt) this year when it absorbed…

New data from tokenomics insights firm Token Unlocks reveals that billions of dollars worth of crypto assets are expected to pour into markets in October. In a new thread on the social media platform X, the market intelligence platform says that $3.46 billion worth of digital assets are scheduled to be unlocked next month, including modular blockchain Celestia (TIA), artificial intelligence token Worldcoin (WLD) and smart contract platform Solana (SOL). “Uptober is just around the corner. Stay Informed, not FOMO (fear of missing out)-driven. With $3.46 billion in token unlocks scheduled for the month, it’s essential to keep a close…

Digital assets manager CoinShares says that institutional crypto investors poured billions in capital into digital asset products last week in anticipation of further interest rate cuts. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $1.2 billion last week. “Digital asset investment products saw a third consecutive week of inflows totaling US$1.2bn, which we believe is a reaction to continued expectations of dovish monetary policy in the US and associated positive price momentum, with total assets under management (AuM) rising by 6.2% last week.” From a…

The head of blockchain analytics platform CryptoQuant thinks Bitcoin (BTC) is right in the middle of a bull cycle, despite a dip to start the week. Ki Young Ju tells his 346,000 followers on the social media platform X that BTC’s market cap continues to grow faster than its realized cap, a trend that in past market cycles has lasted about two years during the bull phases. If the pattern repeats, the current bull market could last until around April 2025, according to Ju. The realized cap metric records the price of each Bitcoin when it last moved and aims…

The company behind the world’s largest stablecoin by market cap says it aided US authorities in confiscating the proceeds of an overseas crypto-confidence scheme. Perpetrators of crypto-confidence schemes approach their victims through dating apps, text messages or professional meetups or investment groups to gain their trust and lure them into depositing funds into crypto websites that promise bogus returns. On Thursday, the U.S. Department of Justice (DOJ) announced the seizure of assets linked to a crypto-confidence scheme in Southeast Asia that targeted one or more individuals in the US. The DOJ says the FBI was able to trace the funds…

An analyst known as a “Master Trader” on the crypto exchange Bybit believes October will be a bullish month for Dogecoin (DOGE). Pseudonymous analyst Bluntz tells his 276,900 followers on the social media platform X that top memecoin DOGE appears to be in the early stages of a five-wave rally. The trader practices Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology which tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave surge before experiencing an “ABC” pullback. Says Bluntz, “DOGE looks turbo…

The stablecoin industry will have to weather significant losses in interest income following the Federal Reserve’s latest rate cut, a new report from CCData shows. In its latest report on stablecoins and central bank digital currencies (CBDCs), the digital asset data and index provider notes that the vast majority of the top five stablecoin issuers’ reserves are in US Treasury Bills, making interest rates a critical aspect of their business model. With lower interest rates and thus lower yielding T-Bills, the firm estimates a loss of about $632 million for the big stablecoin issuers. “With the top five centralized stablecoins…

Closely followed economist and trader Alex Krüger says that Solana (SOL) exceeding the market cap of Ethereum (ETH) isn’t as farfetched as many investors believe. In a new discussion on the Unchained podcast, Krüger addresses Multicoin Capital managing partner Kyle Samani’s perspective that Solana will eventually flip Ethereum. Krüger says that he’s long-term bullish on SOL/ETH and that Solana has all its ducks in a row if it wants to flip Ethereum. “I think it’s very feasible in the long run. I’m not betting on that trade, but I think it’s very feasible. The way I see it is SOL…

An analyst who became popular after accurately calling the 2022 crypto meltdown believes Bitcoin (BTC) and altcoins are gearing up for bullish continuation. Pseudonymous analyst Capo tells his 102,828 subscribers on the instant messaging platform Telegram that a small pullback is in sight for BTC. According to Capo, the minor retracement would set the stage for BTC to rally above $70,000. “Major resistance level also for Bitcoin. A pullback to the $64,000-$65,000 level would be healthy before bullish continuation.”  At time of writing, Bitcoin is trading for $64,370, down over 2% in the past 24 hours. Looking at the altcoin…

A closely followed analyst believes that one Ethereum (ETH) challenger is gearing up to spark massive rallies and play catch-up with other high-flying crypto assets. In a video update, pseudonymous analyst Rager tells his 197,800 followers on the social media platform X that Fantom (FTM) is one of his highest conviction trades for the coming year. Rager says Fantom’s upcoming migration to Sonic could push the altcoin to revisit all-time high levels. “If you just look at the Fantom chart, you’re going to have an idea of how high this can go. All-time high close [is] around $3.30, $3.50 as…