A widely followed analyst says one decentralized finance (DeFi) token built in the Ethereum (ETH) ecosystem may be gearing up for a massive breakout.

Pseudonymous analyst Credible Crypto tells his 466,000 followers on the social media platform X that Curve DAO (CRV) may increase more than 240% from its current value if it can break through a key resistance area.

“For those looking to buy a dip on CRV, on lower timeframes, we are approaching a key level of resistance on both USD and BTC pairings.

Identify this level (it’s easy enough to do on the four-hour chart) and understand that this region is the most likely place for this rally to the upside to end if the bottom isn’t already in. If we clear this region, it’s clear skies to $2+. As we push into this resistance zone, you want to be watching for a potential rejection.”

The trader says CRV needs to reclaim $0.67 in its USD pair (CRV/USD) to rally toward new local highs, while its key resistance level to break through against Bitcoin (CRV/BTC) is 0.00000633 BTC ($0.55).

“These are the aforementioned levels of interest on low timeframe for CRV. A clean re-claim of the red zone and we should quickly accelerate to new local highs. Lots of untapped local highs above us that are a draw to the upside.

We just need to clear local resistance and have some favorable developments on BTC (aka avoid a BTC nuke back down to low $80,000s). We successfully clear this zone and that is our confirmation that the bottom is in.”

CRV is trading for $0.58 at time of writing, up 10.2% in the last 24 hours.

Lastly, he warns that payments token XRP may be on the verge of a correction.

“I am calling for a drop on XRP and a pump on ETH and CRV. Not everything must move in the same direction at all times.”

XRP is trading for $2.33 at time of writing, down 2% in the last 24 hours.

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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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A whale who previously won big on the Official Trump (TRUMP) memecoin booked a loss on the controversial asset over the weekend, according to the crypto tracker Lookonchain.

Lookonchain notes on the social media platform X that the whale spent $5 million worth of Circle’s stablecoin, USDC, to buy TRUMP right after President Donald Trump posted “I LOVE $TRUMP” on his social media platform Truth Social.

The whale then sold the TRUMP stash an hour later, booking a $207,000 loss.

However, the loss pales in comparison to gains the whale made earlier this year when it spent 1.09 million USDC to buy 5.97 million TRUMP and booked a $108 million profit, according to Lookonchain.

The president launched the Official Trump memecoin in mid-January, days before he took office. The asset has generated controversy in and out of crypto circles, raising questions of corruption in an already heavily questioned administration.

Even Ethereum (ETH) founder Vitalik Buterin said in January that political coins represented “vehicles for unlimited political bribery.”

In a February letter to the U.S. Department of Justice (DOJ) and the Office of Government Ethics, officials at the nonprofit consumer advocacy organization Public Citizen argued TRUMP could be a violation of federal law regulating gifts to government officials.

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The asset management titan Fidelity Investments reportedly plans to roll out its own dollar-backed stablecoin.

Citing two people familiar with the matter, the Financial Times reports that the Boston-based firm with $5 trillion in assets under management (AUM) is now in the advanced stages of testing the crypto asset.

Fidelity’s digital assets arm will manage the stablecoin, which is designed to function as cash in cryptocurrency markets.

The report says the company is launching the stablecoin as part of its expansion into the nascent market for tokenized versions of US Treasury bonds. Last week, the asset manager also submitted a filing to the U.S. Securities and Exchange Commission (SEC) to register a blockchain-based version of the Fidelity Treasury Digital Fund.

The development comes amid Donald Trump’s support for dollar-backed stablecoins. The president has pledged to promote stablecoin growth to strengthen the dominance of the US dollar and urged Congress to pass legislation establishing regulatory clarity for the assets.

Lawmakers are working to pass the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which restricts what types of investments the assets can use for collateral.

Senator Bill Hagerty (R-TN), who sponsored the bill, says that a regulatory framework for stablecoins can help boost demand for the US Treasury.

“This legislation is a critical first step in establishing a safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to make America the world capital of crypto.”

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