Altcoins
Analyst Predicts ‘Violent’ Rallies for Ethereum-Based Altcoin, Says RWA-Focused Coin a Good Short-Term Play
Published
3 days agoon
By
adminA widely followed crypto strategist and trader thinks that rallies are in sight for two altcoins amid upcoming catalysts.
Pseudonymous trader Pentoshi tells his 847,800 followers on the social media platform X that he thinks the Ethereum (ETH)-based automated staking service Lido DAO (LDO) is gearing up for a steep move up.
The analyst believes that traders will enter long positions on LDO amid speculations that US regulators will approve the staking of ETH held in spot Ethereum exchange-traded funds (ETFs).
“LDO
Probably violent repricing when the filings come in the next couple of weeks… If you believe ETH staking will be approved, then LDO is likely a great bet.
So far, the price seems to be appreciating rapidly and has begun to start to price this in.”
Looking at the trader’s chart, he seems to be targeting $3.612 for LDO. At time of writing, LDO is worth $1.95
Another altcoin on the trader’s radar is Ondo Finance (ONDO), a decentralized finance (DeFi) protocol that aims to tokenize real-world assets (RWAs). Pentoshi says the ONDO Summit 2025 slated for February 6th could fuel short-term rallies for the crypto asset.
“ONDO summit coming up in [10 days].
BlackRock’s chief investment officer will be speaking and they have many connections there that will likely lead to some speculation short-term.
Price could potentially move up leading into the event followed by a sell-off on whatever news it may be. Might be a good short-term play.
One-12 days.”
The trader also highlights that he plans to unload his ONDO stack just before the event.
At time of writing, ONDO is worth $1.29.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Published
14 hours agoon
January 30, 2025By
adminThe newly rebranded layer-1 blockchain Sonic (S) is being called the “golden standard” of layer-2s (L2s) by Andre Cronje, the project’s co-founder.
Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the “only actual decentralized stage 3 L2.”
“No fee extraction, all submits 100% to ETH, no ‘centralized value extraction’. Decentralized sequencing. Decentralized bridges.
While the rest of the L2s continue to fake pretend to ‘decentralize’ (why would they when they get millions of fees per year?), we already did it.
Scaled transactions per second to 16,000+ on the L1. Decreased storage by 98% even on archival nodes. Scaled L1 and jumped to the ‘golden standard’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Fees.”
A South Korean computer scientist launched Fantom (FTM) in 2018. The project aimed to serve as a tool to aggregate smart contracts into decentralized applications (dApps).
Last year, the development team behind the blockchain announced a rebrand to Sonic as a way to improve transaction efficiency.
Investors can trade in their FTM tokens at a 1:1 rate for S tokens, which will have multiple functions within the Sonic ecosystem.
S is trading at $0.453 at time of writing. The 85th-ranked crypto asset by market cap is down nearly 8.5% in the past 24 hours.
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Altcoins
President Trump’s Executive Orders Build Confidence With Institutional Crypto Investors: CoinShares
Published
3 days agoon
January 27, 2025By
adminCrypto asset manager CoinShares says institutional investors poured billions into digital asset investment vehicles last week following Trump’s executive orders directed at the industry.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment vehicles raked in nearly $2 billion last week alone.
“Digital asset investment products saw inflows totaling US$1.9bn last week bringing year-to-date (YTD) inflows to US$4.8bn — likely as a result of recent presidential executive orders that proposed the initiation of a strategic reserve asset in Bitcoin.
Despite the relatively flat price action last week, trading volumes were high at US$25bn for the week, comprising 37% of all trading volumes on trusted crypto exchanges.”
The United States regionally led international inflows, raking in $1.7 billion of the $1.9 billion in inflows. Canada, Switzerland and Germany provided $31 million, $35 million, and $23 million, respectively.
Bitcoin (BTC), per usual, snatched up the lion’s share of inflows.
“Bitcoin saw inflows totaling US$1.6bn, bringing YTD inflows to US$4.4bn, accounting for 92% of all inflows in the digital asset sector. Following Bitcoin’s pre-inauguration new all-time highs last week, it was no surprise to see short-Bitcoin ETFs regain traction, with inflows of US$5.1 million.”
Ethereum (ETH) led altcoins with $205 million in inflows, bringing YTD ETH inflows to $177 million. With the exception of Cardano (ADA), no crypto institutional investment products suffered outflows last week.
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Altcoins
Crypto Whales Load Up $3,807,886,076 Worth of Ethereum in Just Two Days, According to Analyst
Published
4 days agoon
January 27, 2025By
adminA prominent crypto analyst says deep-pocketed investors have been spotted loading up huge amounts of Ethereum (ETH).
Trader Ali Martinez tells his 119,200 followers on the social media platform X that crypto whales gobbled up more than $3.80 billion worth of Ethereum in a two-day span.
“Whales have bought over 1.14 million Ethereum $ETH in [48 hours!]”
At time of writing, Ethereum is trading for $3,340.
The trader is also keeping an eye on the interoperable blockchain Polkadot (DOT). According to Martinez, DOT looks primed to ignite a big upside burst as it threatens to break out from a bullish continuation pattern.
“Polkadot DOT looks ready to break out of a bull pennant, targeting $17!”
At time of writing, DOT is worth $6.34.
Looking at the layer-1 protocol Aptos (APT), Martinez warns that the crypto asset appears to be forming a bearish reversal structure on the 12-hour chart. The trader says that APT has to spark rallies soon otherwise the altcoin might witness a severe corrective move.
“Aptos APT appears to be forming a head-and-shoulders pattern, with a potential downside target of $4.30. A sustained close above $10.50 is needed to invalidate the bearish outlook.”
At time of writing, APT is trading for $8.26.
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