Author: The Daily Hodl
Two popular altcoins are surging in price after receiving surprise listings from US-based crypto exchange platform Bitstamp. In a new blog post, the crypto exchange says that its US branch is adding support for smart contract platform Solana (SOL) and Pepe (PEPE), a frog-themed meme asset built on top altcoin Ethereum (ETH). “The day US fans of Solana and Pepe have been waiting for is finally here! We’re excited to announce that well-known Solana and the popular meme coin Pepe are now available for trading on Bitstamp in the US.” News of the listings sent both SOL and PEPE flying,…
The co-founders of the crypto analytics platform Glassnode believe that Bitcoin (BTC) may start heading higher after retracing to the low $90,000s based on one metric. Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that Bitcoin’s correction may be over after long-term holders (LTHs) sold less than in the first quarter of the year. LTHs are addresses that hold coins for at least 155 days and they tend to exit the market when BTC makes a bull run. “Long-term holders have taken profits near $100,000, but not…
Real Vision’s head crypto analyst Jamie Coutts says that during the last two years, about $1.1 trillion of the world’s money supply has been fed into Bitcoin (BTC) and other assets. In a new thread on the social media platform X, Coutts tells his 29,200 followers that the crypto king blossomed after the M2 money supply, a measure of the sum of cash and checking account balance plus savings deposits and money market mutual funds, bottomed out at $94 trillion in Q4 2022 before subsequently shooting up to $105 trillion. “Global M2 bottomed at $94 trillion in Q4 2022 and…
The founder of the Tron (TRX) blockchain is making headlines for eating a famously controversial piece of art. After winning Italian artist Maurizio Cattelan’s art piece “Comedian” last week in a Sotheby’s art auction for $6.2 million, Justin Sun made good on his promise today to eat the art installation, which was a banana duct-taped to a wall. Last week, Sun announced winning the art auction and his plans for the piece. “I’m thrilled to announce that I’ve bought the banana!!! I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian…
A closely followed crypto analyst says that one top-50 altcoin by market cap is primed for an explosive breakout. Crypto trader Michaël van de Poppe tells his 745,200 followers on the social media platform X that the native token of the Bitcoin (BTC) layer-2 project Stacks (STX) could increase 70% from its current value as the coin challenges a key resistance level. “The Bitcoin ecosystem fires up. STX attacks the recent high, and is likely breaking through this resistance zone. Next stop? I think a new all-time high.” STX is trading for $2.29 at time of writing, up nearly 20%…
Hong Kong is reportedly eyeing new tax policies that can help in its push to become a top finance and cryptocurrency hub. Citing a 20-page proposal that was circulated this week, The Financial Times reports that China’s special administrative region (SAR) plans to exempt private equity funds, hedge funds and the investment vehicles of the super-rich from paying taxes on crypto profits. Hong Kong also wants to extend the tax exemption to other investments, including private credit, overseas property and carbon credit. The SAR is now conducting a six-week consultation on the proposals. The development comes as Hong Kong and…
The crypto analytics firm Santiment says Bitcoin (BTC) is likely heading higher if one key trend continues. According to Santiment, if the Mean Dollar Invested Age (MDIA) metric keeps declining, the chances are high for Bitcoin to start surging again. The MDIA metric is the average age of all tokens sitting on each wallet on the coin’s network. A declining MDIA is considered bullish as it indicates long-dormant coins are coming back into circulation, increasing network activity. “As long as this Mean Dollar Invested Age line for BTC continues dropping, it should be considered as validation that crypto markets are…
A top analyst who accurately called the end of the 2022 crypto bull market thinks Ethereum (ETH) is poised to rally in both its Bitcoin (ETH/BTC) and US dollar pairs. Pseudonymous analyst Pentoshi tells his 826,200 followers on the social media platform X that ETH/BTC looks good after respecting its support at 0.30 BTC. According to the crypto strategist, ETH/BTC may bounce to as high as 0.4597 BTC. “Very promising start. Let’s see if we can get to the target.” At time of writing, ETH/BTC is trading for 0.0373 BTC worth $3,563. As for Ethereum against the dollar, Pentoshi thinks…
A widely followed cryptocurrency trader and analyst is turning bullish on a competitor to Dogecoin (DOGE) and Shiba Inu (SHIB) while offering his forecast for Bitcoin (BTC) and the decentralized finance (DeFi) altcoin Jupiter (JUP). The trader pseudonymously known as Bluntz tells his 300,000 followers on the social media platform X that the meme token Pepe (PEPE) is on the cusp of a breakout after a correction of around 30% from the all-time high reached earlier this month. Based on the pseudonymous analyst’s chart, it appears that Bluntz sees PEPE going up by around 60% from the current level to…
An analyst who nailed Bitcoin’s pre-halving correction this year says BTC may have entered a market cycle phase where steep rallies are in sight. The analyst pseudonymously known as Rekt Capital tells his 100,000 YouTube subscribers that the act of Bitcoin breaking above the resistance zone that formed around the 2021 cycle high of just below the $70,000 price is “essentially the very first signal to kickstarting the parabolic phase.” “We see the analogous level like this across cycles. In 2020 and 2021 this was the level: $19,000, roughly speaking $20,000. That was the old all-time high resistance. Here in…