Author: The Daily Hodl
The Federal Trade Commission (FTC) is reportedly issuing a warning about crypto ATM scams, noting that victims are losing thousands of dollars in the scheme. According to a new report by NBC News, the regulatory body is warning consumers that bad actors are stealing funds via Bitcoin (BTC) ATMs, or machines that convert cash directly into the top crypto asset by market cap. Data from the FTC finds that in the first half of the year, $65 million has been stolen by scammers using Bitcoin ATMs. Furthermore, it shows that from 2020 to 2023, the amount of money drained in…
A closely followed crypto strategist thinks that Bitcoin (BTC) is gearing up to carve the bottom of its extended correction this month. Pseudonymous analyst Rager tells his 198,000 followers on the social media platform X that he thinks Bitcoin will start carving a local bottom this month. According to the analyst, the precise timeline for BTC’s lows is not important as he sees Bitcoin rallying in Q4 of this year. “August and September is a very good chance that the low could/will be in over the next month. And regardless of exact timeline – many here will still agree prices…
Veteran trader The Flow Horse says a painful bleed down for Bitcoin (BTC) may be the most likely path in the near term due to a lack of large buyers. The trader tells his 228,000 followers on the social media platform X that Bitcoin will likely follow the same pattern that Ethereum in its Bitcoin pair (ETH/BTC) has printed over the last several months: a steady grind downward. According to the pseudonymous analyst, Bitcoin will likely continue trending down with periodic bounces unless deep-pocketed investors step in to boost the momentum of BTC. “Bitcoin actually probably follows the same slowbleed.exe…
Ethereum creator Vitalik Buterin says he hasn’t sold any ETH for six years unless it was going toward charity or boosting projects within the ecosystem. In response to rumors of him selling Ethereum, Buterin says that he hasn’t unloaded any ETH for personal gain. “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (eg. biomedical research and development).” Buterin also highlights that the Ethereum Foundation awarded $8.4 million in grants to ecosystem projects last quarter. Last month, Buterin named…
A closely followed analyst is forecasting a breakout for Bitcoin (BTC) later this month based on historical patterns. The pseudonymous analyst known as Rekt Capital tells his 497,000 followers on the social media platform X that cycles based around the Bitcoin halving – when miners’ rewards are cut in half – suggest that a bullish impulse may start around the end of September. Rekt Capital’s chart suggests that in the past, BTC consolidated for about five months mid-cycle before sparking a next leg up. “History suggests that Bitcoin tends to break out 150-160 days after the Halving. That would mean…
Macro guru and Real Vision CEO Raoul Pal says he’s anticipating a “big breakout” for one crypto subsector. In a new interview on the Empire podcast, the former Goldman Sachs executive says gaming applications are approaching a new phase of adoption that may help trigger growth in the digital asset class. “When we start to see just straight-up user applications, we’re starting to see gaming, it’s starting to happen. I think that’s going to be a big breakout.” Pal adds that his expected surge in crypto adoption will not be limited to blockchain-based games. He says that he expects crypto…
An analyst with a fast-growing following says he has one price target for Bitcoin’s (BTC) bottom before a bullish reversal could take place. The pseudonymous trader known as Credible Crypto tells his 415,000 followers on the social media platform X that he’s anticipating BTC to pull off a relief rally before heading down further. Credible says he sees BTC forming an “ultimate” price bottom just below $55,000. “While we could technically still push lower to my ultimate $53,000-$54,000 target now, I think it makes the most sense for us to see some relief here first. We got a decent flush…
A huge chunk of the revenue generated by the messaging app Telegram reportedly came from crypto assets. A new report from The Financial Times shows that in 2023, over 40% of the revenue generated by the company was derived from its integrated wallet and sales of collectibles. Telegram sells collectibles and provides integrated wallet services in exchange for Toncoin (TON), the token of the layer-1 blockchain The Open Network that the platform originally created in 2018 but is now being operated by an open-source community of developers. The firm’s financial statement shows that the platform’s wallet generated $130 million in…
Coinbase chief executive Brian Armstrong says that artificial intelligence (AI) agents are now making crypto transactions among themselves. In a new thread on the social media platform X, Armstrong says the top US-based crypto exchange witnessed its first AI-to-AI transaction earlier this week. “What did one AI buy from another? Tokens! Not crypto tokens, but AI tokens (words basically from one langue learning model to another). They used tokens to buy tokens. AI agents cannot get bank accounts, but they can get crypto wallets. They can now use USDC on Base to transact with humans, merchants, or other AIs. Those…
A prominent analytics firm says deep-pocketed Bitcoin investors are gobbling up massive amounts of BTC at the expense of retail traders. In a new post on the social media platform X, Santiment says the number of crypto wallets holding at least 100 BTC has increased rapidly over the last 30 days. “As crypto prices have let retail traders down, Bitcoin whales are growing in number. A net gain of +283 wallets holding at least 100 BTC has emerged in just one month. The now 16,120 such wallets on the network have broken a 17-month high.” Santiment also says that Bitcoin…