The CEO of centralized finance platform Celsius Network (CEL), Alex Mashinsky, is unveiling price predictions for the two largest crypto assets by market cap.

Mashinsky says in a Kitco News interview that Bitcoin (BTC) could fall by up to 20% from the current price before surging.

“So we have very strong support in that $29,000 to $33,000 range. This is the range we’re at right now. We keep bouncing off that range.

And the question is, we may have to retest it again. So there’s a pretty good chance. The market usually likes to test support, and after that, we should see that increase.”

Bitcoin is trading at $36,767 at time of writing.

The Celsius Network head says that after testing the critical support level, Bitcoin could follow past precedence and surge by around four times from current levels.

“If Bitcoin does what it did last time, it should go at least 300% up from here. Three multiplied by $35,000 puts us just over $100,000.

My projection for this year stays what I said late last year. And it’s $140,000 to $160,000 before the end of this year.”

In the case of Ethereum (ETH), Mashinsky says that the second-largest cryptocurrency by market cap could hit a new all-time high later this year or early 2023 as the ecosystem expands and the adoption rate rises.

“I expect Ethereum prices to go [to] the $6,000 to $7,000 level. I think the highest it got to was $4,800. But I think we’re going to break through that later this year, maybe beginning of next year.

And that’s because of the use cases, the number of applications running on Ethereum continues to grow. And adoption continues to grow.”

Ethereum is trading at $2,403 at time of writing.

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A low-cap decentralized finance (DeFi) altcoin has bucked the overall crypto market trend and surged in price this week after receiving expanded retail support from a popular exchange.

The Singapore-based Crypto.com listed Tectonic (TONIC), the 1275th-ranked crypto asset by market cap, on its mobile app Sunday.

Tectonic bills itself as “a cross-chain money market for earning passive yield and accessing instant backed loans.” TONIC, the project’s protocol token, is used for governance and staking. Crypto.com first listed the token on its website earlier this month.

Tectonic, which is built on the Cronos blockchain, also announced on Twitter this week that it was working with Immunefi, a platform that rewards hackers for reviewing code and discovering any vulnerabilities in systems.

“Protocol security is always our No.1 priority. Today we are proud to announce that Tectonic smart contracts and price oracles are now under the scope of @cronos_chain Bug Bounty Program on @immunefi.”

TONIC was trading around $0.00000044 prior to the listing and has since surged to $0.00000075398 at time of writing, a more than 71% price increase.

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Gaming altcoin The Sandbox (SAND) is unveiling a joint metaverse venture with one of the biggest music labels in the world.

In a new blog post, land-focused virtual reality crypto The Sandbox says that it’s partnering up with the world-famous Warner Music Group to create the first-ever music-themed world within the metaverse.

Warner purchased what is equivalent to beachfront property as an in-game ESTATE, which they plan on turning into a hybrid of a musical theme park and a concert venue for Warner’s vast array of leading musical artists to perform for and interact with their fans.

Warner chief digital officer of business development Oana Ruxandra says,

“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate. As a first-mover, Warner Music has secured the equivalent of a beachfront property in the metaverse.

On the LAND, we’ll develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before.”

To mark this partnership, SAND will be holding a sale of in-game LAND non-fungible tokens (NFTs) that are adjacent to the property purchased by Warner at a later date, according to the post.

This isn’t the first time the world-famous music giant partnered up with a cryptocurrency firm as the company threw its weight behind decentralized finance (DeFi) protocol Flow (FLOW) in 2019.

SAND is exchanging hands at $3.43 at time of writing, a 27.5% increase from its seven-day low of $2.69.

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Ripple competitor Stellar (XLM) is announcing plans to roll out smart contracts later this year.

Stellar Development Foundation (SDF) ecosystem head Justin Rice says smart contracts will enable a new suite of products and services on Stellar.

“There’s a lot of work to be done to get there, but at SDF we’re committed to researching and shepherding the development of the code and creating community engagement around an implementation.

The goal is to have Stellar remain one of the most accessible networks for developers so they can deliver high quality and safe applications to their users, while also allowing it to adapt and respond to the competitive blockchain landscape.”

Smart contracts are coming to Stellar. pic.twitter.com/jwMnsvod5T

— Stellar (@StellarOrg) January 25, 2022

Stellar is an open network for storing and moving money. The project’s native token, XLM, is used as a bridge currency between two fiat currencies when sending money abroad. XLM is trading at $0.192945 at time of writing, down 2.37% in the past 24 hours.

Tomer Weller, the vice president of tech strategy at Stellar, outlines the rough timeline for smart contract implementation in a new tweet.

“We’re aiming for a feature-complete test network by the end of 2022. Ultimately, the ecosystem will decide if and when to turn on smart contracts on Stellar.”

In October, the SDF announced a new partnership with the payments giant MoneyGram to use the Stellar blockchain to facilitate cross-border payments.

MoneyGram had previously entered into a partnership with Ripple, a Stellar competitor, in June 2019 for foreign exchange settlements and cross-border payments.

However, the payments giant suspended its use of XRP payments this past February in the wake of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.

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A top executive at YouTube is unveiling the video-sharing giant’s plans to adopt elements of Web3 into its platform.

In a new company blog post, YouTube CEO Susan Wojcicki says that non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) are areas of strong interest to the flagship video-sharing website.

“We’re looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube.

The past year in the world of crypto, non-fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.

We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”

By moving into the NFT space, the video-hosting behemoth would be following in the footsteps of other social media giants such as Twitter and Reddit, which both recently launched test versions of a feature that lets users set NFTs as their profile pictures.

Wojcicki’s announcement comes on the heels of YouTube’s parent company Google forming a unit dedicated to researching blockchains and other technologies centered around crypto assets.

This isn’t the first time Google ventured into the world of crypto, having previously teamed up with top US-based crypto exchange Coinbase and payments provider BitPay to load cryptocurrencies onto digital cards while having users pay for them in fiat currency.

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President Nayib Bukele is responding to the International Monetary Fund’s (IMF) warning that El Salvador should remove the legal tender status of Bitcoin (BTC) with a meme.

Back in September of last year, El Salvador became the world’s first nation to recognize Bitcoin (BTC) as an official currency.

The leading crypto asset has since gone on a roller coaster of price swings, climbing to an all-time high above $69,000 in November before a series of steep declines took it below $40,000 this month.

Now the IMF, after its annual bilateral meeting with Salvadoran officials, recommends that Bitcoin’s legal tender status be rescinded.

“There are large risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities.

Some directors also expressed concern over the risks associated with issuing Bitcoin-backed bonds.”

President Bukele then took to Twitter to post an animated meme from the popular TV show The Simspons, where the character Homer Simpson performs a walking handstand while two other characters are speaking.

One of them shoos him away and responds dismissively,

“I see you, IMF. That’s very nice.”

https://t.co/s1F5kwOBEn pic.twitter.com/LD0I2dBHha

— Nayib Bukele (@nayibbukele) January 26, 2022

Bukele routinely updates his followers when El Salvador buys Bitcoin, recently informing the world that he’d just scooped up over 400 BTC.

“El Salvador just bought 410 Bitcoin for only 15 million dollars.

Some guys are selling really cheap.”

The big buy follows several other purchases after Bitcoin’s price fell, including 100 BTC in November, 420 BTC in October, and 150 BTC in September.

At time of writing, Bitcoin is trading sideways on the day and priced at $37,428.

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The host of popular YouTube channel Altcoin Daily says that the money keeps pouring into Ethereum (ETH) despite the market dip.

In a new video, Altcoin Daily co-host Austin Arnold says developers continue to build on Ethereum regardless of market conditions.

“Even though we are watching prices consolidate and decline in the short-term, the building continues.”

Arnold points to plans announced by Ethereum-based metaverse platform The Sandbox (SAND) to start a $50,000,000 accelerator fund for metaverse startups.

“This is a huge injection of cash into the Ethereum metaverse, The Sandbox. Because of this, we are about to see a lot of building…

This isn’t just going into The Sandbox metaverse. It’s going towards building an interoperable, open network in general.”

Looking to the future, Arnold says the Ethereum scalability issues will be solved, in part, by zero-knowledge (ZK) roll-up technology, a scalability solution that runs computations off the chain and then submits a validity report.

“[ZK roll-ups make Ethereum] a little more private, a whole lot more scalable, and BitDAO just launched this $200 million initiative to advance Ethereum scaling endeavors. Progress is happening.”

According to Arnold, decentralized autonomous organization (DAO) BitDAO is launching a fund backed by big money to improve Ethereum’s scalability.

“What about scaling? Well, BitDAO just launched a $200 million zkDAO to advance Ethereum scaling via zkSync…

Major players are backing this scaling solution of zkSync through this DAO.”

According to the Altcoin Daily co-host, one nascent crypto sector will boost Ethereum even further – non-fungible tokens (NFTs).

App research Nima Owji recently revealed the social platform Reddit will soon allow users to set any NFT as their profile picture.

#Reddit is working on #NFT profile pics as well! pic.twitter.com/l2cqfSuIbK

— Nima Owji (@nima_owji) January 21, 2022

Reddit has already been dabbling in the world of NFTs, releasing their own line of Ethereum-minted digital collectibles called CryptoSnoos.

While Arnold is quick to point out that the NFT profile pictures are just a test, he also reminds his viewers of how huge an adoption event this could be for crypto.

“Reddit trial will allow users to set any NFT as their profile picture…

While this is only being tested, at the moment, it is pretty cool to see. Reddit obviously has tens if not hundreds of millions of active daily users on their platform… it should be clarified at the moment, though Reddit has stated that this is a small, internal test.”

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NBA superstar LeBron James is teaming up with the Crypto.com exchange to promote the development of Web 3.0 through education.

In a new blog post, Crypto.com says it’s partnering with the LeBron James Family Foundation (LJFF) to provide education and access to participants of the non-profit organization’s I Promise program.

James says that he wants to ensure people from disadvantaged backgrounds are not left behind as new technologies transform the world at a rapid pace.

“Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another. I want to ensure that communities like the one I come from are not left behind.

Crypto.com and I are aligned on the need to educate and support my community with the information and tools they need for inclusion.”

The I Promise program assists public school students and their families in James’s hometown of Akron, Ohio.

Singapore-based Crypto.com says of the initiative,

“Web3 promises to deliver a more fair and equitable internet, owned by the builders, creators and users. That promise can only be realized through the active engagement of diverse participants.

Through this partnership, I Promise students and families will get a strong foundation in Web3 and the innovations behind blockchain-based decentralized applications powering the future of many sectors from finance to media to art.”

The partnership with the four-time NBA champion is the latest in a series of major deals Crypto.com has secured with professional sports franchises worldwide in recent months.

Back in November, the iconic Staples Center where James plays for the Los Angeles Lakers was renamed Crypto.com Arena.

Other sponsorships with popular franchises include Formula 1 Racing, the UFC, the NHL’s Montreal Canadiens, and two European soccer teams.

Crypto.com Coin (CRO), the native token of the digital asset marketplace, is currently up 2.4% on the day and trading for $0.41.

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The U.S. Securities and Exchange Commission (SEC) is probing several cryptocurrency firms that offer high-interest yields amid a broader governmental effort to regulate digital assets.

According to a new Bloomberg report, the SEC is specifically looking at the methodology that Celsius Network (CEL), Voyager Digital Ltd. and Gemini Trust Co. employ when paying interest on virtual tokens deposited by users.

Whereas traditional financial institutions offer savings account holders less than a tenth of a percent in yields, the report notes that crypto token interest rates range from 3% to 18%.

Bloomberg says of the disparity,

“The firms are able to pay customers rates higher than most bank savings accounts by lending out their digital coins to other investors…

But since the firms don’t register their products with authorities, regulators have said they worry that potential risks aren’t disclosed to investors.”

Last September, the US states Texas and New Jersey each filed legal actions against the Celsius Network, but thus far the SEC has not accused it or the other two companies of wrongdoing.

The Gemini crypto exchange was founded in 2015 by twins Cameron and Tyler Winklevoss, who previously gained notoriety while disputing Mark Zuckerberg’s claim to have founded Facebook, now Meta.

Regarding the SEC inquiry, Voyager spokesman Mike Legg says,

“It’s normal for financial services companies, digital asset-related or otherwise, to be in ongoing dialog with regulators.”

Just this week news broke that the White House intended to take action on regulating digital assets, including a possible executive order.

Days earlier, the Federal Reserve released a report outlining the pros and cons of central bank digital currencies, commonly referred to as CBDCs.

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January 28, 2022 – Tortola, British Virgin Islands

GameFi unit DeFi Land is pleased to announce its land NFT seed sale. A total of 7,500 DeFi Land seeds will be made available for sale, distributed via the project’s website and the Magic Eden platform.

Blockchain gaming-oriented investors continue to take an interest in projects that combine decentralized finance with gaming in a GameFi effort. DeFi Land is one such project, as it provides an agricultural game setting where various aspects of decentralized become gamified. While players can earn money by playing the game, DeFi Land serves as an educational platform for newcomers to decentralized finance.

DeFi Land now enters a new chapter by introducing the DeFi Land seeds, which are NFTs on the Solana blockchain. The gen-zero NFT launch – split into two phases – is the first chance for players to earn core NFTs necessary to unlock the ecosystem’s play-to-earn functionality, coming in late Q1 2022.

As such, these core NFTs are both collectibles and gain utility as they provide access to various mini-games to be played in the DeFi Land ecosystem.

Every core NFT pairs with one mini-game, ensuring players only require one NFT to begin earning. It is a solid way to democratize access to the play-to-earn features of DeFi Land. Additionally, every NFT has its own rarity and specific attribute to help holders unlock greater rewards and more income. Moreover, the core NFTs have three or more attributes giving a distinct advantage in the corresponding mini-game.

All seed NFTs need to be watered for 30 days by using DeFi Land Token (DFL). Once the plant matures, it will provide gen-zero utility NFTs. All DFL spent on watering seed NFTs will be burned by the DeFi Land team, which results in a circulating supply reduction of up to six percent.

Moreover, harvesting the plant daily will provide four gen-zero NFTs with the highest chance of receiving a rare item. More information on the rewards is found here.

In late 2021, DeFi Land secured $4.1 million in funding from several dozen investors. Participants include Animonca Brands, FTX, Alameda Research, NGC Ventures, Solana Foundation, Gate.io, Jump Capital and many others. Such outspoken support from investor heavyweights confirms there is tremendous market potential for GameFi projects capable of bringing gamers to the DeFi industry.

DeFi Land announced its public testing phase on December 22, 2021, after reaching first place at Solana’s Hackathon in the summer. That public test came on the heels of a closed beta test with 3,000 authenticated users. The public testing further confirms DeFi Land’s commitment to delivering products and achieving goals rather than building anticipation.

DFL holders soon will be able to stake it in the single-sided pools with flexible and locked periods of time. They will be receiving instant rewards in tokens, in-game items and future NFT drops.

Players can play mini-games for prizes, farm for produce, exchange tokens and much more.

About DeFi Land

DeFi Land is a multi-chain agriculture simulation web game created to gamify decentralized finance. The game aggregates all decentralized finance platforms, turning them into a hybrid play-to-earn game and DeFi interface for Solana and other chains.

Contact

Erwin at DeFi Land

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January 28, 2022 – Sofia, Bulgaria

DeFi-focused crypto wallet by Ambire is launching its much anticipated governance token on the Huobi exchange.

Ambire Wallet is a new-generation, non-custodial and open-source smart wallet that offers its users easy access to DeFi, enhanced user experience and a focus on security. The Ambire Wallet was released in December and currently has more than 45,000 accounts holding over $22 million worth of assets in their wallets.

Ambire Wallet will be governed by its own governance token called WALLET. Early users of the wallet are already accruing WALLET as airdrop rewards based on the amount of funds they are holding in their wallets. The token will become claimable shortly after its public release.

A total of 0.6% of the token supply is launching on January 29, 2022, exclusively on Huobi, one of the world’s major digital asset exchanges. The token will be offered during a Primelist event on the Huobi platform.

Starting at 20:00 (UTC+8) on January 29, 2022, Huobi users will be eligible for an allocation at the opening price if they lock in and trade assets for allotted tickets during the event period. Other users not participating in Primelist can also purchase WALLET tokens on Huobi Global after the listing.

Among Ambire Wallet’s features are batching transactions and simplifying protocol approvals to avoid unnecessary transaction fees, gas management automation, Trezor and Ledger hardware wallet support and much more. The wallet has also integrated popular DeFi protocols such as Aave, Yearn and SushiSwap, and wallet users can start using these protocols in just a couple of clicks on Ethereum, Fantom, Avalanche, BSC and Polygon with layer twos and other networks coming soon.

About Ambire 

Ambire (formerly AdEx Network) is the company that develops the new-generation solution for digital advertising Ambire AdEx and a DeFi-focused crypto wallet, Ambire Wallet.

Ambire AdEx originated in 2017 as a decentralized ad exchange for digital advertising – the experience from making Ethereum and DeFi accessible to everyone later on led to the creation of the Ambire Wallet, and subsequently evolved into a full protocol for digital advertising. To date, the Ambire AdEx platform has more than 17,000 registered users.

Ambire Wallet is a full-featured cryptocurrency wallet for anyone – from the absolute beginner to the crypto and DeFi pioneers. It brings a number of innovative features like automatic gas management, hardware wallet support and much more. With Ambire Wallet, anyone can easily benefit from the crypto and DeFi industries without dealing with complicated interfaces or concepts.

Learn more here.

Contact

Vanina Ivanova, CMO of Ambire

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Crypto exchange FTX US president Brett Harrison says that venture capital (VC) investors remain confident in crypto despite the volatility in the market.

In a new interview on Yahoo Finance, Harrison says that VCs will likely continue to bring money into crypto even after investing $30 billion in the space in 2021.

“There seem to be no signs of venture capital money coming into crypto slowing at all… People are investing in the technology and the entrepreneurs that are building in this space, that’s not slowing down at all.”

He says that the continued interest from investors is a positive indicator for the crypto market.

“I think this is a very positive sign for what is to come, that people are putting their heads down, they’re building, they’re creating in spite of what’s happening with the current market volatility.

We’re just seeing this continued interest whether it be in new ways of disrupting existing financial technologies, ways of integrating things like NFTs [non-fungible tokens] into blockchain-based gaming and more.”

Harrison’s comment comes after FTX US raised $400 million in its first external fundraising round, bringing the company’s valuation to $8 billion.

“We’re very excited to potentially partner with many of these companies looking to get into the crypto space and continuing to see excellent interest from investors all across the crypto landscape.”

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Bitcoin (BTC) and Ethereum (ETH) are currently trading at a discount, but crypto exchange Kraken says that the bull run might not be over for the two biggest digital assets by market cap.

In its January 2022 crypto on-chain digest, Kraken says that Bitcoin’s spent output profit ratio (SOPR) and Ethereum’s market value to realized value (MVRV) Z-score indicate that ETH and BTC are trading below their fair value, but the exchange says that a rebound is possible.

“Though BTC’s SOPR shows that market participants are mainly trading BTC at a loss, the situation was much worse during Bitcoin’s latest bull run retracement from $65,000 to $30,000 from May 2021 to July 2021 before its rebound to new all-time highs.

Moreover, ETH’s MVRV Z-score shows that the crypto asset is now in ‘oversold’ territory, where it historically has struggled to remain for long periods before a bounce in prices.”

The SOPR on-chain metric determines if Bitcoin owners are selling at a profit or loss. If the SOPR is greater than 1, holders of the asset are selling at profit. Otherwise, they are selling at a loss.

BTC’s SOPR shows a bearish sentiment with a reading below 1, but Kraken says that the metric was worse last year when Bitcoin dropped from $65,000 in May to $30,000 in July.

“Should the metric break through a reading of 1 and hold above that level, it could signal the end of the recent bull market correction. However, if Bitcoin remains below a reading of 1 while [the] price continues dropping, it might otherwise confirm BTC has entered into a bear cycle…

While the SOPR is currently signaling bearish, on-chain data painted a much worse picture during the last similar market correction, after which BTC managed to make a strong comeback. In other words, don’t count BTC out just yet.”

The MVRV Z-score also indicates a bullish outlook for Ethereum. The metric is used to assess market profitability based on whether or not the price of the asset is selling above or below its fair value. A reading above 5 suggests that ETH is overbought, or selling above its fair value. Readings below 1 indicate that the cryptocurrency is oversold, or trading below its worth.

“With ETH down -49% from its all-time high of $4,867 on November 9, 2021, the MVRV-Z Score has fallen into ‘oversold’ territory. History shows that ETH’s MVRV Z-score tends to drop to the “oversold” zone during retracements but doesn’t stay in that range long before prices revert.

The last time Ethereum’s MVRV Z-score fell to this zone was around the time of the Black Thursday market crash in March 2020. Though asset values and network activity are retreating, historical on-chain data suggests that it’s not all gloom and doom for ETH. Market participants have historically accumulated during ‘oversold’ MVRV Z-score readings.”

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The CEO of financial services firm deVere Group, Nigel Green believes that the future of money is “digital” and recognizes Bitcoin (BTC) as the world’s largest digital currency.

Green says that institutional investors are consequently allocating more of their resources to Bitcoin and other crypto assets.

“This is why more and more institutional investors, household name investors, Wall Street giants and multinational corporations are all sensibly, increasing their exposure to crypto and bringing with them capital, reputational clout and expertise.

They understand and value the key characteristics of Bitcoin and cryptocurrencies are designed for this century and, therefore, are growing in appeal.”

According to Green, the qualities that make Bitcoin and other crypto assets appealing include the fact that they are unencumbered by geographical restrictions.

“These include that they’re borderless, making them perfectly suited to a globalized world of commerce, trade, and people; that they are digital, making them an ideal match to the increasing digitalization of our world; and that demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.”

The deVere Group CEO also says that the International Monetary Fund (IMF) is on the “wrong side of history” after the global body earlier this week asked El Salvador to revoke Bitcoin’s legal tender status.

“But the IMF asking a pioneering sovereign nation to drop a future-focused financial policy that attempts to bring it out of financial instability and reliance on another country’s currency shows the institution to be on the wrong side of history.

Is the IMF scared of the future of finance? Why do they continue to want to pile on debts to poorer countries that they know are unlikely to be able to repay using traditional currencies? Is the IMF worried about the domino effect of nation-state adoption that might weaken their dominant global influence? If so, is this a warning shot to those countries?”

El Salvador officially adopted Bitcoin as a legal tender in September of 2021.

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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 loses 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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Cryptocurrency analyst Justin Bennett says that market crashes don’t happen when everyone expects them to.

Bennett tells his 97,800 Twitter followers that the crypto bull market is still intact, but a correction could be months away.

“I don’t think the crypto bull market has ended.

Markets don’t crash when everyone expects them to, and right now, everyone expects it.

My base case is for one more melt-up this year, followed by a correction in either late 2022 or 2023.”

Bennett believes that the Federal Reserve will not hike interest rates and reduce asset purchases aggressively but will instead “choose market stability over controlling inflation” especially if the “stock market corrects further.”

The crypto analyst says that volatility could consequently increase if the Federal Reserve is forced to remain “accommodative.”

“So that means we could be in for more volatility in the short term if the stock market is going to strong-arm the Fed into remaining accommodative for longer.

But ultimately, I don’t think this crypto bull market is over just yet. It’ll be an interesting few months regardless.”

Bennett also relays in a newsletter that Bitcoin could surge to the resistance level between $40,000 and $42,000 if it manages to stay above the $35,000 price.

But if the flagship cryptocurrency falls below $35,000, it could collapse by nearly 20%, according to the crypto analyst.

“For now, it’s a matter of Bitcoin staying above the $35,000 area. Do that, and $40,000-$42,000 is the resistance area to break, followed by $45,000-$46,000.

On the other hand, a daily close below the $35,000 region would open the door to $30,000.”

Bitcoin is trading at $36,655 at time of writing.

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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 loses 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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January 27, 2022 – New York, New York

Globally-respected 3D artist Gal Yosef is excited to launch his Meta Eagle Club NFT collection. More importantly, the launch is backed by Eden Gallery, an internationally acclaimed gallery for its high-end curation of artwork.

Gal Yosef is a well-known name in the 3D art and NFT community. He is the artist behind the Crypto Bulls Society collection – which sold out immediately upon launch and generated over $50 million in primary sales and market auctions. Furthermore, Gal has worked with Justin Bieber, DJ Steve Aoki and others. A one-of-a-kind NFT created through such collaborations sold at Sotheby’s for $214,000.

Many consider Gal Yosef to be one of the most influential role models in 3D NFT art, making the launch of his upcoming Meta Eagle Club NFT collection all the more exciting. The collection will feature Yosef’s much-appreciated and well-liked detailed, lifelike cartoon-style avatars.

The collaboration between Gal Yosef and the internationally acclaimed art gallery Eden Gallery is a crucial turning point in the NFT industry. Projects from accredited artists are taking center stage. Eden Gallery and Gal Yosef will bring a new vision to NFT art through the Meta Eagle Club and their combined curation skills.

As the first installment of a series of Gal Yosef’s own collections, Meta Eagle Club features a digital art world named Galyverse. The first collection in the Galyverse spans 12,000 captivating eagle avatars.

The choice for the eagle is straightforward, as Gal Yosef explains,

“I was searching for a character that could help portray a charismatic avatar but also one that’s warm and inspiring to others. Depicted as a symbol of freedom in so many different cultures, eagles, out of the entire animal kingdom, also represent the strong and brave-hearted. Working on the wings and feathers allowed me to soar and explore new heights in 3D art.”

The Meta Eagle Club wants to merge upscale art with community building, exclusive physical gallery events and an evolving artistic vision. Moreover, the collection will support NFT collectors by bringing physical artwork to Eagle avatar owners. That process is made possible with the help of Eden Gallery and its cutting-edge NFT studio RNSNC.

Other benefits collectors can look forward to will include VIP flights around the globe and to-be-announced aviation-related experiences.

The sale event for Meta Eagle Club will start soon. Interested parties can find more information on how to get whitelisted and how the event timelines shape up on the official Galyverse website, the Galyverse Discord, Instagram and Twitter.

About Gal Yosef

A self-taught prodigy in the field of 3D art and digital sculpting, Gal Yosef specializes in reimagined designs of well-loved cartoon characters and avatars forged from his own imagination. A curiosity and passion for painting and drawing inspired Gal to begin experimenting with 3D design when he was just 12 years old. Gal Yosef’s art continues to evolve in the style of his latest pieces, depicting a darker, avant-garde version of an imagined cartooniverse.

Gal has evolved his career, from a digital studio owner who specialized in 3D art, into a recognized gallery-proven artist, who was one of the most talked-about artists at the last Art Basel in Miami.

About Eden Gallery

Since its foundation in 1997, Eden Gallery has evolved into one of the largest global network of high-end art galleries. Collectively, Eden artists represent and promote contemporary optimism and a colorful view of life.

Eden offers premiere gallery spaces, including locations in New York, London, Miami, Mykonos, Aspen and opening soon in Dubai.

About RNSNC

RNSNC (‘renaissance’) is the new age of art. Its mission is to connect art, tech and luxury, connecting like-minded individuals to the new age of art. Operating worldwide and collaborating with some of the biggest names in the industry, utilities and benefits are plentiful.

Contact

Gal Yosef

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Macro investment strategist Lyn Alden says she would be surprised to see Bitcoin (BTC) drop below $20,000.

In a new interview, Alden says that Bitcoin is less likely to have extreme price swings now that the market is maturing.

“I’d be somewhat surprised to see a sub 20,000 print. I don’t rule it out as an option though. One way I would describe it is that Bitcoin had these 85% drops in the past, but also had massive blow-off tops in the past. 

Most of the indicators showed they didn’t reach the same level of exuberance in this cycle, so basically you’re measuring it from a less extreme topping point. It had more of that rolling top than a huge spike. Basically the market, I think, is more mature so I would be somewhat surprised to see a 20,000 print.”

Despite her optimism, Alden says that a Bitcoin crash is still possible under certain circumstances.

“The environment that I can imagine getting there, if I would have put on my bear hat for a second, it would basically be that the Fed’s tightening or at least talking about tightening…

I think if you have a liquidity event, if you have credit markets freeze, if you have some sort of major events like that, I could see a very illiquid Bitcoin spike down.

I think barring that, I’d be somewhat surprised to see a sub $20,000 sustained level.”

Alden’s comment comes after Bitcoin dropped below $34,000, or half of its all-time high, this week. At time of writing, the benchmark cryptocurrency is trading at  $37,053.32.

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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 loses 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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Popular gaming crypto The Sandbox (SAND) is partnering up with a global venture company to open an acceleration fund for developing metaverse start-ups.

According to a news release, SAND has committed $50 million to Hong Kong-based accelerator company Brinc for The Sandbox Metaverse Accelerator Program, which will invest $250,000 in 100 new metaverse altcoins.

The program will fund 30 to 40 start-up companies per year over the next three years. Start-ups that receive the acceleration money will be encouraged to build on SAND’s ecosystem, and top performers will be further granted funds in the form of $150,000 in SAND tokens.

As stated by The Sandbox co-founder Sebastien Borget,

“The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs.

With imagination, ideas and hard work, start-ups from all over the world can realize their visions and drive societal impact by creating more opportunities for everyone.

We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem.”

Other prominent partnerships formed with SAND include a partnership with famous rapper Snoop Dogg, who purchased his own virtual plot of land in the ecosystem with plans to offer fans VIP access to concerts. The Sandbox has also partnered with video gaming pioneer Atari, which plans to introduce intellectual property from its vast portfolio onto The Sandbox metaverse.

The Sandbox is exchanging hands at $3.46 at time of writing, a 6.5% increase on the day.

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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 loses 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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Real Vision CEO and macro guru Raoul Pal says that the current downturn in the cryptocurrency market is driven by a shift in narratives.

In an interview during Ark Invest’s virtual Big Ideas Summit 2022, Pal explains what happens when the inflation rate frustrates market expectations.

“Why we’re seeing volatility right now is the shift of narratives. Markets don’t like that shift. The narrative was the inflation shift. The inflation shift last year. I think what happened is inflation was real and inflation destroyed marginal spending and marginal investing and I think we saw it in meme stocks.

We’ve seen across the market, we’ve seen it in cryptocurrencies where the marginal investor got marginalized because they didn’t have enough money. I think that was one of the features of what happened and the bond market was pricing in some more inflation, but not a great deal.”

Pal says that the narrative is shifting and that future indicators show both growth and inflation slowing faster than the general market expects.

“My general view, and I’ve held this for a while now, is that the central banks are more likely to get away with one hike, two hikes max before they’re looking at stimulative measures again because I don’t think the economy has got traction and we don’t know what the true traction is of the economy until maybe two years, three years after the pandemic recession has followed through.”

Despite the current volatility, Pal predicts that what comes are monetary policies that will be bullish for crypto.

“Very typical of every recession I’ve ever followed is basically there is a growth slowdown that comes fast afterward. The market panic starts talking about recession again. Usually, that doesn’t happen. There’s generally more stimulus, so I think it’s very supportive of crypto prices overall.

I think crypto’s gone through that transition phase. We saw the marginal spending, investing in crypto go down. I think now all I’m doing is speaking to large institutions about investing so I think the ongoing investment thesis continues and I think that the central banks will be more dovish than people expect going forward so we should have a longer cycle with more tailwinds than most people expect right now.”

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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 loses 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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One popular crypto analyst says Bitcoin (BTC) must reclaim a specific price level to turn crypto markets bullish again.

In a series of tweets, crypto trader Michaël van de Poppe tells his 565,700 Twitter followers that the markets rejected Bitcoin at $38,000.

“Bitcoin rejected on the first crucial resistance at $38K. 

Reclaiming $37.6K would be something, not expecting it.”

Hours later, Van de Poppe confirmed the $38,000 rejection while highlighting BTC support levels at $34,000 and $36,000. Van de Poppe also names the first step towards entering a bull market – flipping the $37,600 resistance to support.

“When we’re looking at a bit higher timeframes for Bitcoin. 

Rejected at the crucial resistance around $38K. 

Dropped south, making important support levels $36K and $34K. 

If we want to become bullish -> Flip $37.6K is [the] first step.”

Van de Poppe predicts a possible BTC bounce in the coming weeks and months, but with a major caveat.

“Might have a short-term bounce, but anything sub $37.5K isn’t shouting for bullishness.”

Bitcoin is trading for $36,037 at time of writing, down 3.22% on the day.

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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 loses 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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