Author: The Daily Hodl
A crypto strategist known for accurately calling the 2021 digital asset cycle top believes that several altcoins are poised for significant rallies. The analyst pseudonymously known as Pentoshi tells his 854,200 followers on the social media platform X that the crypto market is not reacting to bad economic news, signaling that a possible bottom is in. “Now price not reacting to tariffs or negative news anymore while many, not all things, are at high timeframe supports. Not a bad sign for some relief.” He says several alts appear poised to undergo mean reversion moves after the market correction. In trading,…
President Donald Trump’s new decentralized finance (DeFi) project is partnering with real-world asset (RWA) tokenization protocol Ondo Finance (ONDO) to boost RWA adoption. In a new thread on the social media platform X, the development team behind Ondo Finance says it’s collaborating with World Liberty Financial (WLFI) as a means of bringing traditional finance to the world of blockchains. According to Ondo, WLFI is adding Ondo’s tokenized assets – such as the stablecoin Ondo US Dollar Yield (USDY) and the Ondo Short-Term US Treasuries Fund (OUSG) – into its network as treasury reserve assets. Furthermore, WLFI is planning on integrating…
ARK Invest’s Cathie Wood says that the chances of Bitcoin (BTC) eventually hitting $1.5 million are improving for one key reason. In a new update to investors, Wood says that it’s looking more likely that Bitcoin will increase by 1,455% its current value due to increasing adoption by financial institutions. “Many people know us for our bull case, $1.5 million. And we actually think the odds have gone up that our bull case will be the right number because of what is becoming the institutionalization of this new asset class. So many institutional investors are now looking at Bitcoin and…
A widely followed analyst believes that one large-cap altcoin now has a compelling narrative that will fuel its surge to a fresh record high. Pseudonymous analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) appears to be mimicking its 2021 bull market pattern when it shattered a diagonal resistance before surging to a cycle high. According to Kaleo, LTC is repeating a similar price action but he thinks Litecoin will ascend to new all-time highs and breach the $1,000 price area, fueled by the LTC exchange-traded fund (ETF) narrative. “LTC/Litecoin I’ve been waiting for…
The opportunities in altcoins are probably bigger and more plentiful than ever before, according to Bitwise chief investment officer Matt Hougan. In a new note to investors, Hougan says that the situation for altcoins “is more complex” than it was in previous bull markets since there isn’t any major new application driving interest like in 2020 or 2017. Hougan says the main narrative in altcoins right now is memecoins, which has turned out to ultimately have been a short-term casino environment that lacks substance for serious investors. However, the investor says long-term, “the setup for altcoins is stronger than at…
The Japanese mobile gaming firm Gumi plans to accumulate more than $6.5 million worth of Bitcoin (BTC) as part of a new corporate strategy. A translated announcement from the gaming company indicates the firm will invest 1 billion yen (equivalent to $6,558,150 at time of writing) between now and May to acquire the crypto. Gumi has already expanded into the blockchain gaming sector and node operation. The firm plans to use Bitcoin as security collateral for other blockchains, and it plans to invest some surplus funds in BTC for staking on the Babylon protocol. Gumi isn’t the only Japanese company…
Blockchain tracking firm Lookonchain says a crypto trader is looking at massive losses after one decentralized finance (DeFi) project underwent a severe correction. According to Lookonchain, a crypto whale sold nearly 18 million Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), for a loss of more than $12 million after the altcoin plunged below $1. “A whale sold off all ENA and lost over $12 million! This whale unstaked 17.87 million ENA ($8.78 million) [on Monday] and deposited it to Binance. The whale had accumulated these ENA on Binance at an average price of $1.17, resulting in a…
An Alabama man has pled guilty to hacking the U.S. Securities and Exchange Commission’s (SEC) X account last year and faces up to five years in prison. In January 2024, Eric Council Jr., 25, conspired with others to commandeer the SEC’s X account and prematurely announce the approval of spot Bitcoin (BTC) exchange-traded funds (ETF) in the US, according to the Department of Justice (DOJ). The fake ETF announcement caused the price of Bitcoin to increase by more than $1,000 and then drop by more than $2,000 after the SEC regained control of its X account and declared the statement…
Attention in the crypto sector is shifting away from memecoins and moving towards large-cap layer-1 projects, according to the digital asset analytics firm Santiment. Santiment notes traders are more focused on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Toncoin (TON) and Cardano (ADA), which the firm says suggests a healthier crypto market dynamic. “A shift in trader attention from meme coins to Bitcoin and layer-1 assets is generally a sign of a more stable and sustainable market environment. Memecoins tend to attract speculative enthusiasm, often driven by hype, viral trends, and a gambling mindset rather than fundamental value. When these assets…
A crypto strategist who has earned the “Master Trader” rank on the digital asset exchange Bybit thinks Litecoin (LTC) is gearing up for a big burst to the upside. Pseudonymous analyst Bluntz tells his 315,900 followers on the social media platform X that looks bullish against the US dollar and Bitcoin (BTC). According to the trader, LTC appears to have completed an ABC corrective wave against the US dollar while flashing a bullish swing failure pattern (SFP) on its Bitcoin pair. Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a fresh five-wave rally…