Author: The Daily Hodl

Top US-based crypto exchange platform Coinbase is adding three new Ethereum (ETH)-based altcoins to its suite of products, causing the assets to skyrocket. In a new announcement on the social media platform X, Coinbase says it’s adding support for decentralized roll-up protocol AltLayer (ALT), decentralized finance network Pendle (PENDLE), and gamified learning platform Layer3 (L3) nearly a week after adding them to its listing roadmap. News of the additions sent all three altcoins flying, as AltLayer, a protocol that uses rollups to enhance scalability, went from a low of $0.037 on March 26th to a peak of $0.041 a day…

Coin Bureau’s Guy Turner is turning bearish on Ethereum (ETH) as the second-largest crypto asset hovers around 58% below the all-time high price reached in November of 2021. In a new video, Turner tells 2.66 million subscribers of the Coin Bureau YouTube channel that Ethereum has underperformed Bitcoin (BTC) over the past couple of months, despite expectations that ETH would follow the flagship crypto asset’s lead and rally. “Ethereum’s performance has been so poor that it’s basically become a meme while BTC has rallied to new all-time highs… ETH has yet to reclaim its 2021 high of around $4,900. In…

A widely followed crypto analyst says that Bitcoin (BTC) appears primed to skyrocket to a six-figure price tag but warns investors that it may go through a correction first. In a new thread, pseudonymous crypto trader Inmoral tells his 230,800 followers on the social media platform X that the crypto king will make a pit stop around the $85,000 level before shooting up to $100,000. “$90,000 > $85,000 > $100,000.” The trader’s chart indicates that the top crypto asset by market cap will once again cross into six-figure territory sometime in May. According to Inmortal, the $90,000 level is where…

A widely followed crypto analyst says the decentralized oracle network Chainlink (LINK) may be at the start of a new uptrend. Michaël van de Poppe tells his 781,500 followers on the social media platform X that LINK is starting to break out against Bitcoin (LINK/BTC) on the weekly chart. “Slowly, but surely, LINK starts to wake up strongly. I assume we’ll have the next leg upwards to be higher and that the bull for Chainlink has begun.” Looking at his chart, the trader suggests that LINK may rally to 0.0007950 BTC ($69.15). LINK/BTC is trading for 0.0001793 BTC ($15.57) at…

The asset management titan Fidelity Investments reportedly plans to roll out its own dollar-backed stablecoin. Citing two people familiar with the matter, the Financial Times reports that the Boston-based firm with $5 trillion in assets under management (AUM) is now in the advanced stages of testing the crypto asset. Fidelity’s digital assets arm will manage the stablecoin, which is designed to function as cash in cryptocurrency markets. The report says the company is launching the stablecoin as part of its expansion into the nascent market for tokenized versions of US Treasury bonds. Last week, the asset manager also submitted a…

GameStop (GME) shares are returning to normal levels today following an initial rally on the announcement of fundraising plans to buy Bitcoin (BTC). Yesterday, GameStop announced a proposed private offering of $1.3 billion in convertible senior notes with plans to use the funds to purchase the crypto king. “GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.” GME rallied 14% yesterday, following the news of the company’s board approving the BTC treasury strategy, which was outlined in a U.S. Securities and Exchange…

Real Vision’s chief crypto analyst, Jamie Coutts, is leaning bullish on altcoins despite the prevailing bearish sentiment. Coutts says that sentiment is “so bombed out”, as evidenced by the ratio between the equal cap weight and the market cap weight of the top 200 largest altcoins by market cap, which is at a four-year low. According to Coutts, the ratio suggests that some altcoins are on the cusp of a bullish reversal. “Structural issues of investing in the asset class aside, where we are today are levels where, in the past, you start to see high-quality altcoins start to recover.”…

Crypto veteran Meltem Demirors thinks upcoming outflows could be rough for the crypto market. Demirors, a general partner at the investment firm Crucible Capital, says on the social media platform X that there’s “apathy and complacency everywhere.” “Zooming out, BTC volumes are lower than they were pre-election, and implied volatility in options markets is also very depressed – meaning there’s low demand for leveraged bets on Bitcoin by savvy traders. So, what’s the outlook on flows? 2024 ripped – between ETFs (exchange-traded funds) and the Trump Pump and the persistent strategy bid – it was a mega year for inflows.…

The CEO of the financial services firm deVere Group, Nigel Green, is predicting that Bitcoin (BTC) will hit a massive six-figure target by the year’s end. In a new video update, Green says that Bitcoin may see a boost from US President Donald Trump’s support of crypto, helping to pump it to $150,000 this year. He also says that Trump’s tariff policies may create macroeconomic turmoil, driving investors to move their wealth into the safe haven asset golf. However, Green says some investors may also invest in Bitcoin, treating it like digital gold. “Bitcoin has the opportunity to do incredibly…

An analyst who nailed Bitcoin’s pre-halving correction last year says that an explosive BTC move to the upside remains in play despite this month’s correction. The analyst, pseudonymously known as Rekt Capital, tells his 107,000 YouTube subscribers that Bitcoin remains in the “banana zone” based on historical precedence. The banana zone is a term used by crypto analysts to describe a period of rapid and explosive price growth for digital assets. “This is the banana zone still. The banana zone doesn’t just occur in just one vertical line towards the upside. The banana zone is comprised of an uptrend, of…