Author: The Daily Hodl
A closely followed crypto trader is predicting that one Solana (SOL) competitor is gearing up for an explosive set of rallies. Pseudonymous trader Criptopaul tells his 112,800 followers on the social media platform X that layer-1 chain Sui (SUI) has strong market fundamentals and massive upside potential. He notes the total value locked (TVL) in Sui has been skyrocketing, which is sometimes seen as a bullish precursor for price action. TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem. He also says that memecoins…
An analyst from one of the biggest asset managers in crypto says any result of the November election will end up being bullish for Bitcoin (BTC). In a new report for VanEck, Matthew Sigel, the firm’s head of digital asset research, says that the US federal election will likely have a significant impact on the crypto space, but will be bullish for Bitcoin regardless of which party wins. Sigel says that both Kamala Harris and Donald Trump are bullish for Bitcoin, with only nuanced implications for digital assets. Sigel adds both candidates will likely maintain fiscal spending – or increase…
Crypto analyst Ali Martinez says that the time for altcoins to outperform Bitcoin (BTC) is fast approaching, with Dogecoin (DOGE) perhaps set to benefit. Martinez tells his 71,900 followers on the social media platform X that Bitcoin dominance – which tracks the market cap of BTC versus the rest of crypto assets – is currently nearing the end of a rising wedge, traditionally viewed as a bearish setup if price breaks below the support line. Simultaneously, Martinez says the OTHERS chart – which tracks all crypto assets excluding stablecoins and the top 10 coins – is breaking out of a falling…
A closely followed analyst says Bitcoin (BTC) bears are close to rolling over as the top crypto asset by market cap continues to show strength. Pseudonymous analyst Cred tells his 645,000 followers on the social media platform X that the $64,000 price level is the line in the sand for BTC bears. According to the crypto strategist, a weekly close above the crucial price area will flip the market structure of Bitcoin from bearish to bullish. “We’ve only seen lower highs on the weekly thus far. Locally, this is the bears’ last stand i.e. last reasonable area where a lower…
A crypto strategist known for making timely altcoin calls believes that the native asset of a layer-1 project is gearing to witness its first uptrend. Top trader Bluntz tells his 275,200 followers on the social media platform X that Saga (SAGA) looks poised to spark big rallies after breaking out from an inverse head-and-shoulders pattern (IHS). An IHS is typically viewed as a bullish reversal pattern as it indicates investors are no longer waiting for the price to revisit lows before accumulating the asset. Says Bluntz, “Still thinking SAGA has one of the best structures of the mid caps in…
A widely followed crypto analyst says that the Ethereum versus Bitcoin (ETH/BTC) pair is on the cusp of printing a cycle bottom. In a new video update, crypto trader Benjamin Cowen tells his 813,000 YouTube subscribers that all altcoins will eventually bottom out against the crypto king and it appears as if ETH is poised to stop bleeding against BTC. But Cowen says Bitcoin’s dominance level – or the ratio of BTC’s market cap compared to the market cap of all other crypto assets – is still on the rise, suggesting that ETH/BTC can still witness a leg down. “I…
FBI agents just arrested two men accused of carrying out a heist that saw one victim lose about a quarter of a billion dollars worth of Bitcoin (BTC). The U.S. Attorney’s Office for the District of Columbia says authorities are charging California residents Malone Lam and Jeandiel Serrano with conspiracy to steal and launder $250 million in Bitcoin after robbing 4,100 BTC from a Washington D.C. victim. Authorities allege that the duo started the massive heist on August 18th, 2024, after getting in touch with the victim. After obtaining the large Bitcoin trove, the pair allegedly laundered the BTC through…
Financial services titan Franklin Templeton says it’s building a money fund for regulated securities on the smart contract platform Solana (SOL). In a session during the Solana Breakpoint 2024 event, Mike Reed, Franklin Templeton’s head of digital asset partnership development, says that the investment giant’s last step to completing its project is to file to develop natively on the Solana blockchain. According to Reed, the tokens minted by the firm on Solana would represent authentic records of ownership. “We don’t use third parties, we mint authentically on-chain. We do not have an off-chain book of records that we maintain, the…
Chainlink (LINK) creator Sergey Nazarov says that traditional finance (TradFi) will flood the real-world assets (RWA) crypto sector with trillions of dollars. In a new speech at the TOKEN2049 conference in Singapore, Nazarov says that TradFi will ultimately be the largest customer of decentralized finance (DeFi). Nazarov says that he expects RWAs to overtake all other crypto assets by market cap by creating an environment that allows TradFi money to arrive in the blockchain industry. “It’s actually about net new value coming in from the traditional market, and coming in not in the hundreds of billions but in the trillions.…
On-chain analyst Willy Woo says one classic indicator is suggesting that now is an opportune time for bulls to position themselves for Bitcoin’s (BTC) next leg up. On the social media platform X, Woo looks at the Puell Multiple, which has often been used to call tops for Bitcoin. The Puell Multiple is a ratio between the daily coin issuance in dollar terms and the 365-day moving average of daily coin issuance, aiming to provide an oscillator derived from miner profitability and income stress. Woo shares a chart that smooths out the Puell Multiple to roughly pinpoint when the indicator…