Author: The Daily Hodl
An interoperable Ethereum (ETH)-based decentralized finance (DeFi) platform is skyrocketing after suddenly gaining support from Binance. In a new announcement, the world’s largest crypto exchange platform by volume says that it will be adding futures contracts for interoperability protocol Synapse (SYN). “To expand the list of trading choices offered on Binance Futures and enhance users’ trading experience, Binance Futures will launch the SYNUSDT Perpetual Contract at 2024-08-16 12:30 (UTC) with up to 50x leverage.” News of the listing sent SYN, the project’s native asset, flying. SYN is trading for $0.522 at time of writing, a staggering 32% increase during the…
A popular crypto trader says a potential chart pattern indicates Ethereum (ETH) could be on the verge of a correction. The analyst Ali Martinez tells his 69,400 followers on the social media platform X that ETH could be forming a rising wedge, a technical pattern that is typically interpreted as a bearish signal that indicates more downside price action after a bounce. Martinez says the potential correction could take Ethereum down to $2,350, though he also notes that “the bearish outlook could be off the table” if ETH closes above $2,800. Ethereum is trading at $2,567 at time of writing.…
The co-founders of crypto analytics platform Glassnode predict a six-figure price tag for Bitcoin (BTC) by 2025. In a new thread, Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,000 followers on the social media platform X that the crypto king will skyrocket to $100,000 by next year. However, the Glassnode co-founders also note that BTC’s risk index is rising, meaning it could dip further in price before sparking a rally. “The Bitcoin Risk Index has surged, but it still remains far from the levels seen when Bitcoin corrected to $56,500 in May and bounced…
Crypto exchange Binance is resuming its services in India after complying with the nation’s registration requirements. Late last year, India blocked Binance along with nearly a dozen foreign crypto exchanges for failing to register as a reporting entity with the Financial Intelligence Unit (FIU) as required by the country’s anti-money laundering law. In June, the FIU also imposed a fine of $2.25 million on the world’s largest crypto exchange for violating local regulations. On Thursday, following months of hiatus, Binance says its website and application are now available to its users in India. The announcement comes after the exchange registered…
US Presidential hopeful Donald Trump now owns over $1 million in crypto despite once calling the technology a scam. According to new official financial disclosures from the former reality television star, Donald J. Trump owns over $1 million in crypto. The disclosures also show that the business magnate made $300,000 selling Christian bibles. Trump’s crypto wallet and “virtual Ethereum key” are estimated to be valued anywhere between $1 million and $5 million. During Trump’s only presidential term, he called crypto a “scam” and suggested that the Department of Justice should go after Bitcoin (BTC) for “fraud.” Trump has famously since…
A closely followed crypto strategist thinks Ethereum (ETH) is gearing up for a massive breakout against Bitcoin (ETH/BTC). Analyst Benjamin Cowen tells his 849,000 followers on the social media platform X that the ETH/BTC trading pair may be setting up for a bullish reversal in 2025 after being stuck in a downtrend for about one year. “One year later and it’s almost complete. I think that the altcoin reckoning will end this year. The altcoin reckoning refers to the devaluation of altcoins on their BTC pairs. Next year, ETH/BTC should go up, but still four and a half months to…
A widely followed crypto strategist and trader believes that one low-cap layer-1 altcoin project may be gearing up for a massive rally. Pseudonymous analyst The Crypto Dog tells his 810,000 followers on the social media platform X that Saga (SAGA) may be breaking out of a descending trendline on the three-day chart. “Longed SAGA. Looks ready to start it’s first bull trend.” The blockchain project Saga aims to enable developers to launch interoperable, application-specific chains called “Chainlets.” Saga is trading for $1.45 at time of writing, down 10% in the last 24 hours. Next up, the analyst suggests Ethereum (ETH)…
A widely followed crypto analyst says that the chart of the market cap for most digital assets is flashing a bullish signal against Bitcoin (BTC). Crypto trader Michaël van de Poppe tells his 723,100 followers on the social media platform X that the TOTAL3 chart appears gearing up for a breakout against the top digital asset by market cap. The TOTAL3 chart tracks the market capitalization of all crypto assets excluding Bitcoin, Ethereum (ETH) and stablecoins. “The only chart to watch. TOTAL3/BTC looks absolutely great, with a massive bullish divergence. This indicates that altcoins are on edge for a big…
Ex-Goldman Sachs executive Raoul Pal is expressing bullish sentiment on a large-cap Ethereum (ETH) rival. In an interview with Wall Street veteran Anthony Scaramucci, Pal says that by the end of the current cycle, Solana (SOL) could explode to a price that’s “probably north of $1,000,” representing a potential gain of at least 604% from the current level. “I think the range for me is.. worst case is $800, mid case is like $1,200. Upper case in a blowoff top would be $2,500.” Solana is trading at $142 at time of writing. On whether Solana could outgrow Ethereum by market…
Real Vision analyst Jamie Coutts believes Bitcoin (BTC) could be on the cusp of a massive rally based on one factor historically associated with bullishness. Coutts says momentum in global liquidity is “starting to accelerate higher, ” offering the perfect bullish setup for Bitcoin. The Real Vision analyst says that these conditions coincide with “all the froth from exchange-traded funds’ (ETFs) launches and excess leverage” leaving the Bitcoin market. “Over the past decade, Bitcoin has had a tendency to trough several months before the bottom in global money supply. Then it rips, gets way ahead of the move in liquidity,…