Author: The Daily Hodl
Real Vision analyst Jamie Coutts believes Ethereum (ETH) could be on the cusp of a massive rally based on several market conditions. Coutts says on the social media platform X that momentum is building in the crypto space which could signal that the smart contract platform is about to surge. However, the analyst warns that ETH’s network activity needs to see a significant increase before an uptrend is ignited. “While the conditions for a rally are forming, Ethereum will struggle to rally without a resurgence in activity. Fees are at four-year lows. On the positive side: Layer-2 (L2) adoption has…
A widely followed cryptocurrency analyst believes Bitcoin (BTC) is on the verge of rallying to fresh record highs. Pseudonymous analyst Bluntz tells his 270,000 followers on the social media platform X that he thinks Bitcoin has started a fresh five-wave surge that could propel BTC to a new all-time high after taking out resistance at $62,000. The trader practices the Elliott Wave theory, which states that a bullish asset often witnesses a five-wave upside move before a significant correction. Says Bluntz, “We got the breakout, pretty confident this is the all-time high run starting now.” Based on the pseudonymous analyst’s…
Macro investor and fund manager Dan Tapiero is expressing bullish sentiment on Bitcoin (BTC) and Ethereum (ETH). In a new interview on the CoinDesk YouTube channel, Tapiero says that Bitcoin could go up by over 56% from the current level while Ethereum could appreciate by more than 81% from the current price over the coming months. “Over the next six months, I think we will be over $100,000 per Bitcoin and probably over around $5,000 in Ethereum as well. I think there’s a big bull rush coming.” At time of writing, Bitcoin is trading at $63,941 while Ethereum is changing…
The crypto giant Grayscale has launched a new trust for the layer-1 Ethereum (ETH) competitor Avalanche (AVAX). Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says Avalanche has played a “pivotal role” in advancing the adoption of real-world asset (RWA) tokenization. AVAX shot up in price by 5.65% on Thursday, outpacing the broader crypto market, which dropped 1.3% over the same time period. The new Grayscale Avalanche Trust will function like the asset manager’s other single-asset investment trusts and is solely invested in the AVAX token. Grayscale’s new product wasn’t the only recent development that could have had a hand…
Companies from the crypto industry are spending large amounts of money to influence US elections, according to the nonprofit consumer advocacy organization Public Citizen. In a new report, Public Citizen says crypto firms are by far the dominant corporate political spenders this year with backers from the sector giving over $119 million, or 48% of the $248 million that have so far been contributed for the 2024 polls. The organization says crypto corporations primarily contribute to super political action committees (PACs) that are dedicated to electing candidates with a favorable stance on digital assets. US-based crypto exchange Coinbase is the…
A widely followed crypto analyst says that the flagship crypto is showing signs of a bull run. Crypto trader Ali Martinez tells his 69,600 followers on the social media platform X that the Bitcoin (BTC) bull-bear market indicator is showing bullish signals. “Since early August, the Bitcoin bull-bear market indicator has been oscillating between bearish and bullish. Now, it has switched back to bullish again!” Looking ahead, the analyst thinks BTC’s next resistance could be as high as $66,000. “If Bitcoin can maintain support at $60,365, the next key resistance levels to watch are $64,045 and $66,250!” Furthermore, the analyst…
Former FTX executive Ryan Salame says the US government has walked back its promise not to charge his partner Michelle Bond. Salame is the former co-CEO of FTX Digital Markets, the Bahamian subsidiary of the bankrupt crypto exchange. Last year, the former executive pled guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission, as well as conspiracy to operate an unlicensed money-transmitting business. In May, a judge sentenced Salame to 7.5 years in prison, and he’s due to report to prison in October. But Salame says he cut a deal with the government and pled…
Coinbase has added Ethereum (ETH) layer-2 Polygon’s yet-to-be-launched native token to its listing roadmap. Making the announcement via social media platform X, the top US crypto exchange says it has placed Polygon’s POL on its listing roadmap, which the exchange created in 2022 for the purpose of transparency and to prevent front-running of token listings. POL is the upcoming rebrand of Polygon’s MATIC, which is slated for launch on September 4th, according to Polygon Labs. MATIC will ultimately be replaced by POL as the native gas and staking token for Polygon in the initial phase of the transition. In subsequent…
A closely followed crypto strategist believes that one top-10 altcoin is about to move another leg up. Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that that he thinks BNB, the native asset of the DeFi protocol Binance Smart Chain, will witness higher prices this year. He also believes that the expected release next month of Changpeng Zhao (CZ), the former CEO of Binance, could be a bullish catalyst for BNB. “BNB is still one of the better majors out there right now; also going to coincide with CZ’s release date about a month…
Crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is heading for new all-time highs (ATHs) if it breaks through one key level. The analyst tells his 723,200 followers on the social media platform X that if Bitcoin bounces 2.25% from its current value it could hit a new ATH by early September. “It feels great to have the market breaking out. Bitcoin bouncing upwards, onto the final resistance at $62,000. If that breaks, then it’s close to getting a new ATH in September. Expecting a lot of positive inflow in the data on the ETF [August 22nd]… The…