Author: The Daily Hodl

Ethereum (ETH) creator Vitalik Buterin says that starting next year, he will only publicly mention layer-2 projects that he believes are en route to optimal decentralization. Addressing his 5.4 million followers on the social media platform X, Buterin says that in 2025, he plans to only publicly name L2s that are in “stage 1” or above, referencing a previous blog post detailing the different phases of decentralization. In the November 2022 blog post titled “Proposed milestones for rollups taking off training wheels,” Buterin said that L2s are either in stage 0, 1 or 2 in terms of decentralization. Buterin says…

Software firm MicroStrategy is reportedly accumulating Bitcoin (BTC) at the highest rate it has since 2021. According to a new report by Bloomberg, MicroStrategy purchased 18,300 Bitcoin for about $1.1 billion between August 6th and September 12th, the highest amount the firm has bought since February 2021 when it purchased 19,452 BTC. The report finds that the enterprise software firm now holds about 244,800 BTC worth $14 billion, or about 1% of the top crypto asset by market cap’s total supply. The data also unveils that MicroStrategy bought the BTC for an average cost of $38,585. MicroStrategy – co-founded by…

A widely followed crypto analyst says the altcoin market could start breaking out if one key event occurs. In a new video, analyst Nicholas Merten tells his 509,000 YouTube subscribers that if Bitcoin (BTC) starts flipping resistance levels into support, altcoin rallies may start within the next few weeks. “We talked about one of two [Bitcoin] scenarios playing out. We talked about either having the more painful scenario… when we come down to the 200-week moving average [around $38,000], which definitely, I think, is still in the cards if we don’t see price action development over the next couple of…

A widely followed crypto analyst believes one Solana (SOL) competitor may have more upside potential. Crypto trader Michaël van de Poppe tells his 724,900 followers on the social media platform X that layer-one blockchain Sei (SEI) may soar more than 46% from the current value by next month. “Altcoins are doing relatively well. SEI continues to find momentum, and I’d like to see it rally to $0.34 (preferably even above the previous high, but not expecting that yet), make a HL (higher low) and continue that rally to $0.44 in October.” SEI is trading for $0.30 at time of writing,…

A widely followed analyst and trader is leaning bullish on an altcoin in the Ethereum (ETH) ecosystem while updating his outlook on three crypto assets. The trader pseudonymously known as Sherpa tells his 223,200 followers on the social media platform X that Aave (AAVE) is “still undeniably very strong” as the Ethereum-based decentralized finance (DeFi) lending platform rests below a major resistance level on the weekly time frame after a consolidation phase that has lasted years. “This thing chopped for 2+ years, it looks ready.” AAVE is trading at $147 at time of writing, up by around 54% over the…

Cryptocurrency analyst and investor Jason Pizzino is highlighting a critical resistance level that Bitcoin (BTC) needs to overcome to potentially kick off a rally. Pizzino tells his 333,000 YouTube subscribers in a new video that if Bitcoin appreciates by around 6% from the current level, the flagship crypto asset could set up conditions for a larger bullish move. “Provided we start to see some tests and closes above $58,000 in the short term, this could be a nice little early bounce here coming up to test the more important level in my analysis around $61,500, which is the correction 50%…

Crypto analyst Benjamin Cowen is predicting a deeper Ethereum (ETH) correction before the year’s end. In a new interview on the Bankless podcast, Cowen says Ethereum could dip more than 48% of its current value before rallying at the start of 2025. “My base case right now is that ETH/USD, it still stays up here a little bit longer, above $2,000. It goes below $2,000 in Q4 and then, starting next year, it bounces out of that.” Cowen warns that if a recession occurs it would change his outlook. “My hope is that the Fed has not absolutely wrecked the…

Top US-based crypto exchange platform Coinbase is announcing the launch of Coinbase Wrapped Bitcoin (cbBTC), a Bitcoin (BTC)-backed Ethereum (ETH)-based token. In a new thread on the social media platform X, Coinbase says that cbBTC is now onchain and ready, meaning that holders of the top crypto asset by market cap can now access decentralized finance (DeFi) apps on the Base and Ethereum blockchains. According to Coinbase, cbBTC will be available on many prominent DeFi networks, including Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL). In a new blog post, Coinbase explains how BTC…

A popular crypto analyst thinks three indicators suggest Bitcoin (BTC) is far from its top. The pseudonymous crypto trader known as TechDev shares a graphic with his 468,700 followers on the social media platform X that charts the liquidity cycle, Bitcoin’s Relative Strength Index (RSI) and BTC’s Fisher Transform Indicator. TechDev’s first chart displays a line for Bitcoin’s price and a line that pits the Chinese 10-year bonds (CN10Y) against M2SL, the seasonally adjusted measure of money supply in the United States. Based on the trader’s chart, he appears to suggest that an expansion in the CN10Y against M2SL could…

The head of digital assets research at exchange-traded fund (ETF) provider VanEck says that Bitcoin (BTC) and one or two layer-1 blockchains will outperform the market. In a new interview on the Bitcoin Macro YouTube channel, VanEck executive Matthew Sigel says that in the long run, the economic value of the digital assets industry will overwhelmingly consist of just a few layer-1 networks. According to Sigel, once this happens, traders will turn to investing into decentralized applications (DApps) and DePIN (decentralized physical infrastructure networks) technology. “One to three kinds of layer-1 blockchains are likely to take 99% of the economic…