Author: Daily Hodl Staff

Euro-pegged stablecoin use is increasing amid new European crypto regulations that phase in over time, according to digital asset analytics firm Kaiko. In a new report, Kaiko says that the European crypto market is facing big changes as the regulations impacting stablecoins in the 2023 Markets in Crypto Assets (MiCA) law go into effect later this month. Says Kaiko, “Impending regulation in Europe is about to shake up the stablecoin market. Binance revealed plans to restrict stablecoins that don’t meet the bloc’s Markets in Crypto Assets (MiCA) standards last week. Elsewhere, reports suggest Kraken has been actively reviewing which stablecoins meet…

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A Solana (SOL)-based altcoin project with an artificial intelligence (AI) focus is soaring after gaining support from Binance, the world’s largest crypto exchange. In a new announcement, Binance says it’s listing decentralized AI computing network io.net (IO) for trading on its platform. “Binance is excited to announce that io.net (IO) has been added to Binance Simple Earn, ‘Buy Crypto’ and Binance Convert. In addition, Binance will add IO on Binance Margin, Binance Futures and Binance Auto-Invest at 2024-06-11 14:00 (UTC), 2024-06-11 14:00 (UTC) and 2024-06-13 10:00 (UTC) respectively.” IO is trading for $5.66 at time of writing, up nearly 52%…

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Bitcoin (BTC) is currently weathering a miner capitulation phase, according to on-chain analyst Willy Woo. Woo tells his 1.1 million followers on the social media platform X that the Bitcoin halving event in April is currently “culling weak miners” The event, which happens roughly every four years, essentially cuts the Bitcoin reward that miners receive for powering the network in half, reducing the new supply of BTC entering the market. Woo says the weak miners dump BTC “as they die” and then Bitcoin’s price rebounds afterward. “But first we need to purge the degen open interest in futures bets. Liquidations…

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The venture capital and incubation arm of the world’s largest crypto exchange is advancing artificial intelligence (AI) technology-focused integration with blockchain in its latest investment. In a new announcement, Binance Labs says it has invested in Zircuit, a new Layer-2 (L2) network with AI-enabled “sequencer level” security. According to the announcement, Zircuit’s L2 combines rollup infrastructure tech with zero-knowledge proofs with the aim of creating fast, low-cost, and Ethereum Virtual Machine (EVM)-compatible transactions. Says the project’s co-founder, Martin Derka, “Zircuit was born out of cutting-edge scaling and security research. We’re innovating on top of a deep technical foundation, and making…

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A trader known for several accurate crypto market calls says that Bitcoin (BTC) remains in a bullish market trend. Pseudonymous analyst Dave the Wave tells his 146,500 followers on the social media platform X that as long as Bitcoin remains above an ascending diagonal level, the crypto king is still poised to print fresh all-time highs (ATHs). “BTC still on track.” Source: Dave the Wave/X The analyst says that Bitcoin could still fall lower than its current value and remain in an uptrend provided that it stays above a diagonal support that has kept BTC bullish since October 2023. “Plenty…

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The world’s biggest bank, the Industrial and Commercial Bank of China (ICBC), is reportedly calling Bitcoin (BTC) “digital gold” and Ethereum (ETH) “digital oil.” In a new report shared by Matthew Siegel, VanEck’s head of digital assets, the ICBC gives praise to the top two cryptocurrencies by market cap. The report also says that market demand is strong for digital assets, pushing innovation in the sector. “Market demand drives the continuous iteration of digital currencies.” The report draws comparisons between Bitcoin and gold while also saying the crypto king has added benefits. “Bitcoin retains the scarcity similar to gold through…

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Bitcoin (BTC) has been flying off exchanges as the digital asset market tracks sideways, according to a popular crypto analyst. The trader Ali Martinez tells his 63,700 followers on the social media platform X that approximately 22,647 BTC worth more than $1.57 billion were withdrawn from crypto exchanges in a recent seven-day period. Source: Ali Martinez/X Martinez also notes that the number of daily Bitcoin addresses recently broke a downtrend that started on March 5th. “In [24 hours], 765,480 BTC addresses were active. This surge in network activity is a positive sign that the BTC bull run will continue.” Source:…

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BitMEX co-founder Arthur Hayes just unveiled a massive prediction for Ethereum (ETH) competitor Aptos (APT). In a new interview with Coin Bureau co-host Jessica Walker, Hayes predicts that layer-1 (L1) smart contract blockchain Aptos will overtake Solana (SOL) this market cycle. “I’ll put this out there on this particular venue and I’ll qualify it with more information probably later this summer once I get back in the swing of things. Aptos flips Solana in the layer-1 game. I’ll put that out there. I’m not going to say any more than that. I think Aptos could be the number two L1…

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Bitcoin (BTC) whales opened massive long positions on the digital asset exchanges Bybit and HTX, according to CryptoQuant chief executive Ki Young Ju. Young Ju notes that the whales opened the long positions at $69,000. Source: Ki Young Ju/X Young Ju reminds his followers that Bitcoin whales also opened massive long positions in August 2023, just before a parabolic rally that sent BTC from $25,000 to above $73,000 in just a few months. The analytics firm CEO also says that Bitcoin isn’t currently overvalued from a network fundamentals perspective. Young Ju cites BTC’s “thermo cap ratio” as evidence. Thermo cap…

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A closely followed crypto analyst is listing five altcoins he believes are showing strength despite the choppy market conditions. Pseudonymous crypto trader Altcoin Sherpa tells his 217,200 followers on the social media platform X that layer-1 protocol Injective (INJ), cross-chain protocol Wormhole (W), data democratization project JasmyCoin (JASMY), Bitcoin (BTC) layer-2 scaling solution Stacks (STX) and layer-1 blockchain Toncoin (TON) all look bullish amid a generally range-bound market. “Eyes on these for active trades, a lot of stuff looks like cr*p right now.” According to the analyst, Wormhole is one of his top picks. However, he warns that it’s still possible…

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