Author: The Daily Hodl

A widely followed analyst is saying that Bitcoin (BTC) is sending worrying signals as the flagship crypto asset languishes about 20% below the all-time high reached in March. In a new video, analyst Nicholas Merten tells his 509,000 YouTube subscribers that Bitcoin is showing weakness after failing to overcome a major resistance level after several attempts. “[Bitcoin] price action is showing some pretty bleak signs here… just from a pure price analysis perspective, right now we are still facing consistent resistance for… more than a week and a half here for Bitcoin against that 21-day moving average. We have not…

A widely followed cryptocurrency analyst and trader is expressing bullish outlook on altcoins. The analyst pseudonymously known as Sherpa tells his 220,000 followers on the social media platform X that altcoins are likely to experience another rally similar to the one that occurred between November of 2023 and March 2024. On when the next altcoin rally could occur, Sherpa says, “I think it will probably come around December/January of this year. It will set up well with Bitcoin hopefully hitting an all-time high and then cooling.” According to the pseudonymous analyst, the next altcoin season could be relatively mild. “But…

A crypto analyst and trader believes that a “monumental breakout” is just around the corner for Bitcoin (BTC). The analyst pseudonymously known as Rekt Capital tells his 82,400 YouTube subscribers that Bitcoin may be about to enter the parabolic phase of the market cycle based on historical precedence. “And when it comes to breaking out from this re-accumulation phase we tend to see breakouts from here 160 days after the halving. We’re currently around 126 days after the halving. So that just gives us a month, over a month, before we finally see a potential scenario for breaking out beyond…

A cryptocurrency whale has sold off tens of millions of dollars worth of Solana (SOL) since the year started, on-chain data shows. According to blockchain tracker Lookonchain, the whale initially sold the first batch of SOL on January 15th. Over the ensuing weeks and months, the whale unloaded 614,000 SOL worth $89 million on Coinbase, OKX and Binance crypto exchanges, per on-chain data. The whale has averaged one sale per week, according to Lookonchain. Looking closer at on-chain data, it appears that a stash of approximately 100,000 SOL was withdrawn from staking platforms over the last 30 days before being…

The world’s largest crypto exchange by volume and its founder are being named as defendants in a new money laundering lawsuit. According to a new class action, Binance willfully neglected to register itself with the proper authorities and failed to maintain adequate anti-money laundering protocols as a means of earning profits from the US markets. According to the lawsuit, Binance’s actions lead Binance.com to be a “hub” for criminals looking to wash money. “Defendants’ willful disregard of important laws and regulations turned Binance.com into a magnet and hub for criminals, users from sanctioned jurisdictions, terrorists and other bad actors, because…

A widely followed crypto strategist believes that Bitcoin (BTC) is repeating its early 2020 recovery when it crashed by over 50% in one week before rallying to new highs. Pseudonymous analyst The Crypto Dog tells his 811,100 followers on the social media platform X that there’s a good chance Bitcoin is on the verge of a fresh bull rally after bouncing from its recent low of $48,000 earlier this month. “Started to consider a very optimistic outlook on the market from here, likening this wipeout from $70,000-$50,000 to the Covid crash [of] March 2020. Time will tell, open to other…

An unknown entity has printed incredible gains with a recently launched memecoin on the TRON network. Blockchain “de-anonymizing” platform Arkham says that one of the earliest investors of dog-themed altcoin SUNDOG made roughly 1,183,331% in just six days on a $1,690 investment. “This trader turned $1.69K of SUNDOG into $20 MILLION in 6 days TT4S5 was one of the earliest SUNDOG buyers & purchased 104.33 million tokens for $1.69K. They currently hold $19.52 million of SUNDOG across 7 addresses, and also sent $1.08 million SUNDOG to exchanges – for a total profit of $20.60 million.” SUNDOG, launched earlier this month,…

The native token of a cross-chain bridge project is in the green after top US crypto exchange Coinbase suddenly announced its trading support. In a new Coinbase announcement, the platform says it is listing cross-chain bridge Across Protocol (ACX) for trading over the Ethereum (ETH) network. “Trading will begin on August 21st, 2024 at or around 12 pm ET if liquidity conditions are met. Once sufficient supply of this asset is established trading on our ACX-USD trading pair will launch in phases. Support for ACX may be restricted in some supported jurisdictions.” Across Protocol jumped from a low of $0.371…

Stablecoin issuer Tether (USDT) is announcing new plans to launch a new digital asset pegged to the Dirham (AED), the currency of the United Arab Emirates (UAE). In a new press release, the firm behind USDT says that it will be working closely with the nation’s central bank as well as blue-chip tech companies to add a Dirham-pegged crypto asset to its suite of products. “Tether’s Dirham-pegged stablecoin will provide users with a seamless and cost-effective means of accessing the benefits of the AED while leveraging the transparency and efficiency of blockchain technology. This digital asset will streamline international trade…

Crypto market data analytics firm Kaiko Research is warning that one real-world asset (RWA) project could remain bearish for two main reasons. In a new report, Kaiko Research says that Ondo Finance (ONDO) is losing momentum after the hype around RWA projects has died down. The firm also warns that expected Fed interest rate cuts in September could further dry up investment inflows into Ondo Finance. CME’s FedWatch Tool indicates that 67.5% of traders and investors are expecting the Fed to cut interest rates by 25 basis points next month. “Most of these funds invest in short-term US debt instruments.…