Author: The Daily Hodl
Interest in crypto assets by family offices is on the rise, according to a survey conducted by the fourth largest bank in the US by total assets, Citibank. Citibank’s Global Family Office 2024 Survey Report says that around 25% of the family offices that participated “had already invested or were planning to invest in digital assets.” The survey drew responses from 338 family offices, one-third of which were based in North America and the remainder in the rest of the world. “The early adopters category (17%) is likely to grow in the years ahead, having already committed some allocations to…
Layer-1 modular blockchain Celestia (TIA) is soaring after the project’s foundation raised $100,000,000 to support the ecosystem. According to the Celestia Foundation, the nonprofit group set up to support the TIA network, the $100 million fundraising was led by Bain Capital Crypto. Other groups contributing to the funding included Syncracy Capital, 1kx, Robot Ventures and Placeholder. TIA was trading for a low of $5.44 to a high of $6.86 on the day of the announcement, a more than 26% gain. At time of writing, TIA is trading for $6.61. With a current market cap of $1.4 billion, TIA is the…
The founders of analytics firm Glassnode believe that the time is getting close for when altcoins will start to outperform Bitcoin (BTC). Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that altseason may arrive once Bitcoin breaks out of its all-time high (ATH) of about $74,000. “Altcoins have followed the bullish momentum of Bitcoin. It seems that we are on the verge of an altcoin season. We are bound to experience it intensely once BTC breaks its ATH and enters uncharted territory.” The analysts suggest that the…
A popular crypto analyst thinks historical trends indicate Bitcoin (BTC) could be on the verge of a breakout. The pseudonymous trader known as Rekt Capital tells his 501,400 followers on the social media platform X that BTC has historically broken out from its re-accumulation range 154-161 days after its halvings. “It is 157 days after the halving now. History suggests it is ‘Breakout Time’ for Bitcoin.” The analyst says historical patterns suggest BTC will now transition into its “Parabolic Upside phase.” Rekt also notes that standard halving cycles indicate the current Bitcoin cycle is only 44.8% of the way through…
A closely followed analyst and trader thinks that altcoins are gearing up to have their time under the sun and outperform Bitcoin (BTC). Crypto strategist Ali Martinez tells his 72,200 followers on the social media platform X that he’s keeping a close watch on the TOTAL3 chart, which tracks the market cap of all digital assets excluding Bitcoin, Ethereum (ETH) and stablecoins. The trader shares a chart suggesting that TOTAL is about to witness a big burst to the upside. “The altcoin market cap looks primed to surpass $1 trillion… It is just a matter of time before altcoin season!” …
A leading US-based crypto exchange is establishing its European footprint by acquiring the Dutch crypto broker Coin Meester B.V. (BCM). In a new press release, Kraken says it has closed on a deal with BCM that will “strengthen” the crypto exchange’s presence in Europe. “With the acquisition of BCM, one of the Netherlands’ oldest and most respected registered crypto brokers, we have significantly expanded our Dutch footprint and enhanced our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.” In February of this year, Kraken announced it had obtained its VASP (Virtual Asset Service Provider) registration…
The research arm of a top crypto exchange is warning traders to keep an eye on open interest (OI) while trading altcoins. In its latest Alpha research findings, Bitfinex says that a drop off in OI has helped many altcoins, like SUI and AAVE, rally tremendously. “We believe that a risk-on sentiment and the ability to move altcoins quite easily due to the reduction in altcoin OI is partly responsible for altcoins like SUI and AAVE being up 100 percent since their respective lows in August and September. The concerning development in the altcoin market however is that OI has…
An original Ethereum investor has suddenly moved millions of dollars of ETH after remaining inactive for years, according to blockchain tracking firm Lookonchain. Lookonchain notes that the whale participated in Ethereum’s 2014 initial coin offering (ICO) when they received 150,000 ETH at the Genesis block. According to the blockchain tracking firm, the initial investment that cost just $46,500 is valued today at about $389.7 million – translating to an increase of 837,964%. The holder just woke up after more than two years of dormancy to send 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange, where the crypto…
Quant analyst PlanB believes that Bitcoin (BTC) is on the verge of having an explosive 2020-style breakout to new highs. PlanB tells his 1.9 million followers on the social media platform X that Bitcoin has been consolidating near $60,000 range similar to how it did near $10,000 in 2020. “$60,000 is the new $10,000. [It’s] a matter of time before it explodes upwards in my opinion.” The analyst shares a chart of the realized price metric, which records the value of all coins in a current time frame at the price they were last transacted on-chain, divided by the number…
Arthur Hayes’ family office fund has unloaded a huge chunk of its position in the decentralized finance (DeFi) altcoin Pendle (PENDLE). Hayes sold 1.59 million PENDLE for $5.62 million at an average price of $3.52 over a two-day period, resulting in a loss of $1.29 million, according to the crypto tracker Lookonchain. Lookonchain also notes that the price of PENDLE surged by 24% after his sell-off. Less than two weeks ago, Hayes, who has served as an advisor to Pendle, predicted on the social media platform X that the asset would surge to $10. On Saturday, the BitMEX co-founder acknowledged…