Author: The Daily Hodl
The top U.S. securities regulator has reached a settlement with the trading app eToro severely limiting the platform’s crypto trading abilities. According to the U.S. Securities and Exchange Commission (SEC), eToro has agreed to pay $1.5 million in penalties and limit its crypto trading options to Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) without admitting to or denying charges of operating as an unregistered crypto broker and clearing agency since 2020. The SEC contends that eToro allowed customers to trade cryptos as securities on the app without following the proper registration processes. eToro customers holding crypto on the app…
A widely followed crypto analyst is warning that Bitcoin’s (BTC) historical cycle pattern may soon come to an end. In a new strategy session, crypto trader Justin Bennett tells his 111,300 followers on the social media platform X that Bitcoin’s traditional four-year cycle could change if the business cycle contracts. According to Bennett, Bitcoin’s cycles have been correlated to the performance of the overall macroeconomy. “Since its inception, Bitcoin has followed mostly perfect three to four-year cycles: one to two years of a bear market followed by one to two years of a bull market. But that won’t last! Bitcoin…
Two prominent payment platforms are offering their support for Ethereum Name Service (ENS) domains. In a new thread on the social media platform X, payment giants PayPal and Venmo are now supporting the ENS domain naming service, which allows users to forgo having to use complicated crypto wallet addresses and instead adopt a representative username. “How does it work? Simply enter your ENS name when sending crypto on PayPal or Venmo, and the platform will automatically resolve it to the correct wallet address. No more copying and pasting long addresses – just seamless, user-friendly transactions.” According to the service, there…
A widely followed cryptocurrency analyst and trader is saying that Bitcoin (BTC) is set for a bullish phase once September comes to a close. The analyst pseudonymously known as Rekt Capital tells his 501,200 followers on the social media platform X that the fourth quarter could be bullish for Bitcoin. “You just need to survive September. Because if history repeats, Bitcoin may be heading for three straight months (October, November and December) of positive upside monthly returns.” Bitcoin is trading at $56,810 at time of writing. According to the pseudonymous analyst, Bitcoin has enjoyed an average return of 22.9% in…
A widely followed crypto analyst is predicting one Ethereum (ETH) competitor is gearing up for a massive breakout. Crypto trader Michaël van de Poppe tells his 725,300 followers on the social media platform X that NEAR Protocol (NEAR) could soar 275% from its current value within six months. “The markets are shaping up for a reversal. NEAR has retested a crucial area for support and seems likely to hold from here. As long as $2.75-$3.40 holds, I assume we’ll see $15 in the next three to six months.” NEAR is trading for $4 at time of writing, down 1.3% in…
Cryptocurrency analyst Kevin Svenson is turning bullish on Bitcoin (BTC) as the flagship trades at over 20% below the all-time high reached in March. Svenson tells his 79,200 YouTube subscribers in a new video that Bitcoin is “likely just a couple of months away from a new all-time high.” According to the analyst, the correction that Bitcoin keeps experiencing happens in all cycles and the current one is not an exception. “People may just be heavily overexposed to the market, having grand expectations to be set for life after this bull run. And because everyone is so overexposed all the…
A widely followed crypto strategist believes sharp recoveries are in store for Ethereum (ETH) and its competitor Solana (SOL). Starting with the top smart contract protocol, pseudonymous analyst Kaleo tells his 647,300 followers on the social media platform X that his bearish scenario for Ethereum is no longer valid. The trader shares a chart suggesting that ETH has already printed a local bottom and is now gearing up for big rallies. “The yellow line is cursed. The white line in this thread has been goated and will continue to be goated. Run it back.” Looking at the trader’s chart, he…
Financial services giant Fidelity is forecasting how stablecoins could cause further divergence between the top two crypto assets by market cap. In a new report, Fidelity says that the rise of stablecoin usage on Ethereum (ETH) will push it apart from its competitors in the layer-1 sector as well as from Bitcoin (BTC). “Bitcoin and Ethereum are likely to continue diverging technologically as we look toward the future. This divergence will result in more differentiated use cases and increase the potential to add further diversification to a portfolio. One specific example of this phenomenon is the rise of stablecoins… The…
A closely followed crypto analyst says that Bitcoin (BTC) could break out of the current consolidation phase within weeks. In a new video update, crypto strategist Jason Pizzino tells his 333,000 YouTube subscribers that Bitcoin could start printing a bullish pattern on the monthly chart at the close of September. He looks at previous cycle lows and the number of months it took before Bitcoin printed the beginning signs of parabolic rallies, which was at 20, 21 and 19 months – when there was a monthly close above previous resistance levels. “If September happens to hold up higher than August,…
Smart contract platforms have reached all-time highs in active addresses in the face of a price correction – a good sign for the asset class, according to analyst Jamie Coutts. Citing active address data from the analytics platform Artemis, Coutts says that the surge during the current price dip is a positive sign. “The daily active addresses metric for Smart Contract Platforms (SCP) hits an all-time high of 17 million, up from 5 million 12 months ago. Total Mkt Cap is down -35% since March but up 63% from a year ago. This is a healthy correction in a secular…