The pseudonymous host of Coin Bureau is revealing the current contents of his crypto portfolio.

In a new YouTube update, the closely followed analyst known as Guy tells his audience how he is reorganizing his portfolio in the wake of crypto’s recent meltdown.

According to the analyst, BTC and ETH are the main pillars of the crypto markets to hold onto during times of uncertainty.

“Most of the profits from [from altcoins] have been plowed back into BTC and ETH. My positions on these two account for pretty much 70% of my entire portfolio for two main reasons. 

Firstly, I firmly believe Bitcoin and Ethereum will continue to be the two main pillars of the crypto market for the foreseeable future. BTC will remain the benchmark cryptocurrency and its status as digital gold will only solidify. Ethereum will continue to be the primary layer-1 platform and the base layer for countless projects and protocols.”

Even though Guy is heavily invested in Bitcoin and Ethereum, he keeps his portfolio diverse because he believes the future is multi-chain. Guy reveals an allocation to Solana (SOL), Polkadot (DOT) and Cosmos (ATOM), three ETH competitors.

“I believe the future is multi-chain. Yes, Ethereum will still be the big dog, but that doesn’t mean other smart contract platforms won’t play a role in crypto’s future. As a result, Solana’s SOL, Polkadot’s DOT, and Cosmo’s ATOM are my next three biggest positions and together they make up almost 14% of my portfolio.”

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A decentralized media-sharing ecosystem built on Solana (SOL), plus several altcoins built on Ethereum (ETH) are surging after being added to top US crypto exchange Coinbase’s roster of digital assets.

In an announcement, Coinbase says Media Network (MEDIA) and four other cryptocurrencies will start trading paired with Tether (USDT) once appropriate liquidity conditions are met.

Media Network is a new type of content delivery network (CDN) that harnesses the power of decentralized peer-to-peer (P2P) streaming to provide bandwidth-on-demand while always maintaining user privacy by never requiring sign-ups or personal information to participate.

The project is part of the Solana (SOL) ecosystem, and users can earn the MEDIA token for contributing spare bandwidth.

Media Token is up 10.74% and trading for $26.57.

Also rallying is layer-2 scaling solution Metis (METIS). The Metis protocol aims to offer lower fees and faster transaction times than Ethereum (ETH), while still retaining the security of the leading smart contract platform.

Native token METIS can be used for staking and internal payments, but also serves an important function within the Metis Virtual Machine (MVM) during the creation of a decentralized autonomous company (DAC).

Metis is up in a big way, in the green by 23.16% on the day and priced at $0.0075.

Also joining the Coinbase roster is Monavale (MONA), native token of Digitalax which enables users to custom design digital clothing in the form of non-fungible tokens (NFTs).

The project brings Creative Commons (CC0) licensing to fashion for the Web 3.0 internet, saying in a blog post its long-term goal is to become “the digital fashion NFT house for all gaming, VR [virtual reality] and metaverses in the crypto ecosystem.”

Monavale is up over 12% on the day and priced at $666.66.

Coinbase will add support for Chain (XCN), MetisDAO (METIS), Monavale (MONA), and AirSwap (AST) on the Ethereum network (ERC-20 token) and Media Network (MEDIA) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. pic.twitter.com/M1PfwEARX8

— Coinbase Assets (@CoinbaseAssets) June 27, 2022

AirSwap (AST) is another blockchain project that harnesses P2P, notably as a decentralized token trading network that has no order books or trading fees. The project was founded as a joint venture by ConsenSys and Fluidity.

At time of writing, AirSwap is soaring by nearly 26% with a market price of $0.106.

Last on the list of new Coinbase crypto assets is the Ethereum-based cloud blockchain protocol Chain, whose native token XCN provides governance and utility.

The company recently announced that it is continuing to hire new employees despite widespread stagnation in the crypto markets, plus Chain said it had burned a staggering $2.6 billion worth of XCN, more than 22% of the token’s total supply, under a new governance shift.

Currently, Chain is down less than a percent and priced at $0.086.

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A popular crypto analyst is comparing the returns of a traditional investment class against Bitcoin (BTC) to gauge which was the better play.

In a new strategy session, the anonymous host of InvestAnswers tells his 442,000 YouTube subscribers that Philip Morris tobacco company’s return on investment (ROI) for dividend stocks has been hampered by both taxes and inflation.

“Let’s dig into a dividend stock and show you the danger of dividend stocks with an illustration of Philip Morris over the last five years. Philip Morris is a top blue-chip dividend stock. They sell [cigarettes].

They pay about 4.8% dividend a year, and you’re taxed on that dividend… Look at this stock: it basically fell from $120 over five years ago, down to $100 today… give or take a few bucks. You get no alpha. You get no return from dividend-paying stocks. That was always my thesis, always my point.

And plus, very important to remember, that $120 you invested five years ago has less than $80 dollars in purchasing power today. So $40 of that $120 is gone because of debasement of the currency. It’s still denominated in US dollars, and that’s the problem.”

The host next looks at Bitcoin’s performance over the same timeframe, noting that even after BTC falling dramatically since last November, it remains up by more than 8x.

“Despite the crushing downfall of Bitcoin, [it] is still up 728% over that exact five-year period. Yes, this chart looks really ugly and that line there you’re seeing is the 200-week moving average.

We are under that right now, but even despite that, if you had reversed the clock back to November [2021], those returns would have been over 2,600%, not 728%.

The point is, even just a small allocation of 2% to 5% into things like Bitcoin or Tesla can change the game and change your portfolio. If I fast forward my age a couple of years, if I was 60 would I still hold Tesla? Yes.

Would I still hold Bitcoin? Yes, because I can’t find better risk-rewards out there. It’s that simple. Especially at these prices. Not financial advice.”

At time of writing, Bitcoin is down 1.51% over the last 24 hours, priced at $20,684.

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A widely followed crypto analyst is predicting that three altcoins, including Solana (SOL) and Polygon (MATIC), appear poised for a corrective move after rallying from their 2022 lows.

Pseudonymous crypto trader Altcoin Sherpa tells his 179,500 Twitter followers that he expects one indicator on the four-hour chart to act as a resistance that could send the prices of SOL, MATIC and LooksRare (LOOKS) tumbling in the short term.

“Expected a slight altcoin pullback here in the short term. 200 exponential moving average [EMA] on the four-hour acting as resistance for many; when there is a large gap between price and [the] 200 [EMA], you’ll see it act as support or resistance usually. What happens after this is what we need to watch.”

Altcoin Sherpa says the first touch of the 200 EMA on the four-chart after a rally often results in a pullback. In the case of smart contract platform Solana, SOL has rallied from the low of $26.02 and is now finding resistance at around $40, according to the analyst’s chart.

At time of writing, Solana is trading for $37.90, down almost 3% on the day.

The crypto strategist says LOOKS, the utility token of the Ethereum-based NFT marketplace LooksRare, is on the same boat as SOL. According to Altcoin Sherpa, LOOKS could struggle to go above $0.40 in the short term.

At time of writing, LooksRare is trading for $0.33, up 2.25% over the last 24 hours.

As for Ethereum (ETH) scaling solution Polygon, Altcoin Sherpa says MATIC’s recent move above the 200 EMA is a “deviation,” and he expects the altcoin to move lower.

At time of writing, Polygon is valued at $0.51, below the 200 EMA and down over 6% in the past day.

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A Shark Tank investor is laying out what he thinks must happen for Bitcoin (BTC) to take off as the better version of gold.

In a new interview with the Bankless podcast, billionaire Mark Cuban says BTC faces a problem of relative lack of utility and resulting lack of mainstream popularity.

“Part of the challenge for Bitcoin is, even with the Lightning Network, improving and becoming more popular. There’s not enough utility, but that’s the same problem gold has. Nobody needs gold jewelry. People like gold jewelry and want it, but they don’t need it. So there’s a utility issue with Bitcoin but, that said, like gold, it’s a good store of value.”

The billionaire then explains why he keeps BTC in his portfolio and what he thinks is bound to push Bitcoin to new highs.

“It’s a better store of value when you’re trying to be diverse in your portfolio, and that’s why I own it. Because I think even though I have no idea where it’ll go, I have no idea how low it will go, but I do know that once there are applications with smart contracts not on Bitcoin but across crypto that regular people use and figure out, just like streaming was a better version of getting audio and video than traditional media was when there’s better reason to use crypto applications, that’s when it takes off.”

Cuban also says Bitcoin works as a type of digital gold.

“I always analogize Bitcoin as it’s a better version of gold. It’s a digital version of gold and I truly believe that.”

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An altcoin project built on Ethereum that has been relatively quiet for some time is in the middle of an explosive rally as it outperforms the rest of the crypto markets.

Stratis Platform is an Ethereum-based, decentralized blockchain platform aimed at enabling Microsoft developers to build applications on top.

The Stratis code is based on Bitcoin‘s (BTC) architecture but combines its own implementation of proof-of-stake (POS) to aim for a more energy-efficient blockchain.

Stratis’ native token STRAX shot up 103% in the last 24 hours, cooling off from a rally that at one point reached 160%.

While the precise cause of the Stratis Platform rally is unclear, STRAX took off minutes after the project announced a series of updates, including a new non-fungible token (NFT) ticketing system.

According to the announcement, Stratis is developing a ticketing management system through which NFTs will be used to validate entry and record perks for venues and events.

In addition, the project says a slew of new blockchain-powered video games are set to hit the Stratis mainnet this year.

Stratis’ announcement also included an update on the launch of a stablecoin pegged to the British pound called Great British Pound Token (GBPT).

“Plans to launch a Great British Pound Token (GBPT) stable coin using Stratis technology are progressing with ‘Stratis Investment Group Limited’, a new entity created that will be used for the Stratis GBP stable coin. Stratis is currently working with Price Waterhouse Coopers (PwC) to complete FCA Registration. We also expect this partnership to continue with PwC, whereby they provide auditing services for the GBPT stablecoin implementation.

With entities like Visa increasingly willing to accept stable coin payments, there’s a huge opportunity to simplify cross-border and wholesale payments using blockchain technology. We also expect more UK equities and securities to be digitally issued in the coming months and years. This will likely drive the need for these instruments to pay out to holders using a GBP-denominated crypto stablecoin like GBPS.” 

At time of writing, STRAX is trading for $0.92, up 13% on the day.

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Global hacktivist collective Anonymous is promising to hold Terra (LUNA) co-founder Do Kwon accountable for the collapse of Terra’s stablecoin ecosystem.

In a new video, Anonymous says it will bring Kwon to justice at the earliest opportunity.

“Do Kwon, if you are listening, sadly, there is nothing that can be done to reverse the damage that you have done.

At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible.”

The global hacktivist group says that even though the crypto industry was bound to “experience some pain” at some point due to the tough macroeconomic environment, the Terra founder is to blame for wiping out billions of dollars in value.

“The past several months have been bad for crypto and the economy as a whole. We were likely going to experience some pain in the crypto industry because of the macro environment regardless of what was happening internally.

We were also due for another bear market this year. But the actions of Do Kwon, the founder of the Terra ecosystem, is single-handedly responsible for scamming billions of dollars away from retail investors.”

According to Anonymous, Kwon may have committed more crimes in the past than what is publicly known.

“It is obvious to us that Do Kwon has plenty of secrets, and he has been very sloppy in his execution. Multiple governments are conducting their own investigations into the scammer. But so are we.

Anonymous is looking into Do Kwon’s entire history since he entered the crypto space to see what we can learn and bring to light. There is no doubt that there are many more crimes to be discovered in your [Do Kwon’s] trail of destruction.”

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June 28, 2022 – Vaduz, Lichtenstein

Cantina Royale and Elrond Apes are teaming up to enhance the appeal of the upcoming top-down tactical arcade shooter with play-to-earn mechanics. Elrond Apes NFTs will be featured in the game and become usable across single and multiplayer battle modes.

Elrond Apes is yet another popular NFT collection to be bootstrapped into Cantina Royale. Additionally, the Bored Ape Yacht Club will be integrated in Q3 2022.

Collaborative efforts are an essential aspect of the NFT industry of today and the future. Cantina Royale is a highly-anticipated free-to-play play-to-earn game and embraces some innovative technologies to enhance the industry’s interoperability and composability.

Verko’s interoperability protocol is a crucial part of the Cantina Royale ecosystem. It enables NFT collections to become fully functional and playable 3D in-game characters. For Elrond Ape holders, that means using their favorite and most popular assets in the game. Furthermore, Verko’s protocol will bring a set of exclusive traits and assets of the 3,000 Elrond Apes NFT collection to Cantina Royale.

Those perks include the one-percent lifetime earnings for all future recruited Space Apes. Adding such substantial liquidity to Elrond Apes increases the collection’s appeal and offers a valuable incentive for long-term holding.

Daniel Sagi of Cantina Royale said,

“Seeing NFT interoperability come to life with renowned NFT collections like Elrond Apes always feels like getting one step closer to the core tenet of blockchain technology. By bringing the Elrond Ape and Cantina Royale community together, I’m certain that this partnership will be a shiny case study for interoperability while everyone enjoys playing with their favorite NFTs.”

The minting of an initial collection of 3,000 Elrond Apes NFTs will occur in the second half of July 2022. That initial collection allows holders to play the Cantina Royale game, with assets being redeemable once the Elrond Apes reveal takes place a few weeks later.

Elrond Apes holders will receive access to the lending platform. Through lending, NFT holders can tap into a passive revenue stream where they earn from digital assets by lending them to others. Rewards are earned as their borrowers do, with tokens allocated every week.

Karl Thomas of Elrond Apes said,

“Cantina Royale’s innovative vision to bring the first of [its] kind, free-to-play, play-to-earn game was one that Elrond Apes wanted to be part of. From lending, to breeding, to playing the game with their favorite NFTs is what our communities will enjoy. Their innovative interoperability protocol will reach mass market, and partnering with them and having unique Elrond Apes part of the game is an exciting endeavor.”

About Cantina Royale

Cantina Royale is the first title incubated by Verko, a layer two metaverse experience framework. Founded by Koby Menachemi and Daniel Sagi, Verko is a 40-person strong team with diverse multi-disciplinary backgrounds.

Verko acts as a plug-and-play mechanism that any game can use to tap into the benefits of blockchain technology through the use of APIs.

Cantina Royale is a passionate 15-person development team, with dozens of years of experience in game development.

Website | Twitter | Telegram | Discord

About Elrond Apes

Elrond Apes comprises 10,000 3D apes that are unique and randomly generated. The collection is working to assemble an NFT community on Elrond made up of collectors willing to participate in an amazing adventure. Creators enjoy a 10% royalty fee for every purchase made.

Website | Twitter | Discord | Telegram

Contact

Dan Edelstein

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Galaxy Digital founder and CEO Mike Novogratz thinks an overall economic recession will follow the current “crypto recession.”

In a new interview with New York Magazine, the crypto billionaire says he thinks the US could deal with an economic downturn through the end of 2023.

“My instinct is 18 months, maybe even a little shorter because I think the Fed is going to have to pause hiking rates by the fall, and I think that’ll get people comfortable to start building again.”

The chief executive also predicts there will be a regulatory crackdown on decentralized finance (DeFi).

“In some ways, the regulators are going to lick their chops and say, ‘Oh my goodness.’ But DeFi, for the most part, has worked. It just is worth a lot less. Where the big losses are, it’s really in this weird combination of CeFi [centralized finance] and DeFi.

Celsius and BlockFi were black boxes that investors put their money in, and then they did whatever they wanted with it. It wasn’t on-chain. You didn’t know what the leverage was unless you got under the hood. You didn’t know what their asset-liability mismatch was. They borrowed short, and they lent long. Those are the two ways you die a sudden death in markets.”

Novogratz admits Galaxy Digital made the mistake of being “too long” on crypto assets. However, he notes that other crypto companies made an even bigger mistake of taking more credit risk than they should have.

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Veteran trader Peter Brandt is highlighting one metric which might reveal whether Bitcoin (BTC) has what it takes to rally after months of market woes.

Brandt, who became a famous figure in crypto circles after correctly calling Bitcoin’s 2018 collapse, tells his 664,300 Twitter followers that it would be a positive development for BTC if the Bitcoin Dominance chart (BTC.D) manages to reach 50%.

“This chart could be the big ‘tell.’

A decisive close back above 50% would be huge positive BTC.”

The BTC Dominance chart, which tracks how much of the total crypto market capitalization belongs to Bitcoin, has not reached 50% since July of 2021 when it bottomed out at around $30,000 before rallying to its all-time high at $69,000.

A bullish BTC Dominance suggests Bitcoin is rising faster than other crypto assets or altcoins are losing value while the leading crypto by market cap surges.

Traders view a rising BTC.D chart as a sign that investors are flying to the relative safety of Bitcoin, suggesting that most speculators have left the crypto markets.

On the other hand, a falling BTC.D suggests altcoins are gaining value faster than Bitcoin. Traders often see a bearish BTC.D chart as a signal of froth and excess speculation in the crypto markets.

In addition to his 2018 Bitcoin call, Brandt warned investors in April that the leading crypto by market cap was likely to fall below $30,000.

At time of writing, Bitcoin is down 1.75% and trading for $20,841.

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A popular crypto analyst says Chainlink (LINK) could see short-term losses while setting up for even bigger returns down the road.

Crypto trader Kevin Svenson tells his 109,500 Twitter followers that if Ethereum (ETH) drops to the $500-$700 range, LINK will correspondingly plummet to $2.00-$3.00 territory.

“In the next few years, that’s a 100x return on Chainlink if you buy [LINK between $2-$3]. If these prices show up, you better be ready.

I’m avoiding most alts right now. The reason I mention ETH and LINK as good buys is because they are the most highly adopted projects in the entire industry. True infrastructure plays. Long-term potential.”

Svenson’s 100x call on LINK appears to be based on its performance between April 2019 to May 2021 when the altcoin rose 13,200% to its all-time high of $53.

Chainlink, the 24th-ranked crypto asset by market cap, is trading for $6.61 at time of writing. The Ethereum-based decentralized data feed and oracle platform is down more than 2% over the last 24 hours.

Ethereum is trading for $1,196 at time of writing, down nearly 1% on the day.

Svenson believes the overall crypto bear market will continue in the short term.

“The Destructive Domino Effect we’ve seen unfold in this crypto bear market has been historic. An over-leveraged market starting with LUNA creating downside pressure, BTC miners capitulating, then that bled into the lending platforms falling [one] after another.

It’s hard for me to believe that all of this would just end now without it more pain. Probably still some more blood to come. But the good news is events like these are usual markers of a cycle bottom. Just depends on where/when exactly that will be.”

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A closely tracked crypto strategist is warning Bitcoin traders and investors that BTC could be 48 hours away from resuming its downtrend.

In a new strategy session, pseudonymous analyst Cheds says Bitcoin is still in a macro downtrend and BTC’s recent rally from the lows of $17,600 is likely to meet an abrupt end.

“I’m looking at the daily chart. [It] looks like a bear continuation. I can draw a bear pennant. I can draw a bear flag. I can draw a rising wedge. It just feels so far kind of a minor relief rally. Got the volume [downtrend],  standard volume trend, which means this channel is like one to two days from being done. We are one to two days from [BTC] making a move.”

Recently, Cheds told his 268,800 Twitter followers that a break of Bitcoin’s bear pennant or rising wedge could send BTC to new 2022 lows.

“BTC observing spinning top at daily [exponential moving average] eight after relief rally.

Structure could be viewed as a bear pennant or flag rising wedge with measured move in the low teens if the trend continues.”

Earlier this month, Cheds released a video saying he believes there’s a “strong case” for Bitcoin to bottom out at $12,000.

At time of writing, Bitcoin is changing hands for $20,715, down 1.51% on the day.

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Popular crypto strategist Michaël van de Poppe is outlining what he thinks is in store for four altcoins including XRP, Binance Coin (BNB) and Cosmos (ATOM) after a weekend that witnessed a bounce across the crypto markets.

Van de Poppe tells his 613,700 Twitter followers that he believes XRP appears poised for a brief pullback after rallying over 35% from its 2022 low of $0.28.

“This one is showing strength but rejected at first resistance. Expecting to see a test around $0.343 and that would be a potential long trigger. Targets are quite easily defined and potentially $0.43 and $0.47.”

At time of writing, XRP is changing hands for $0.36.

Next up is BNB, the utility token of crypto exchange Binance. According to Van de Poppe, he sees BNB flipping former resistance at $222 into support before resuming its bounce.

“Would like to see $222-$225 hold and then $255 and $267 could be next.”

At time of writing, BNB is trading at $238.

Another altcoin on the trader’s list is Cosmos, an ecosystem of blockchains designed for both scalability and interoperability. Van de Poppe says ATOM must take out its immediate resistance to gather more bullish momentum.

“This one is showing strength, and I’m still a fan of the ecosystem, expecting to be a big gainer and have fundamental growth. Price action -> at resistance. Breaking $8.70 results in acceleration, with $10 and $12 as primary short-term targets.”

At time of writing, ATOM is valued at $8.32.

The last altcoin on the list is Celer Network (CELR), a scaling platform desinged to enable off-chain transactions in a secure manner. Van de Poppe says that he’s waiting for CELR’s price action to unfold after the coin rallied by over 135% from its 2022 low at $0.01.

“Need to see whether it can actually hold any level after this move.”

At time of writing, CELR is swapping hands at $0.017.

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A leading digital assets manager says large institutional investors are exiting crypto markets at a historic rate.

In the latest Digital Asset Fund Flows Weekly report, CoinShares finds that digital asset investment products suffered over $420 million in outflows last week, with Bitcoin taking the brunt of the blow.

“Digital asset investment products saw outflows totaling $423 million last week, the largest since records began by a wide margin…

The outflows were solely focused on Bitcoin, which saw net outflows for the week totaling $453 million.”

Bitcoin’s record-setting week of outflows nearly cancels out the digital asset’s year-to-date inflows, reduced from $479 million to $26 million.

After months of primarily heavy outflows, leading smart contract platform Ethereum (ETH) digital asset investment products led altcoin markets with nearly $11 million of inflows. Despite a positive week, ETH products have still suffered nearly $450 million in outflows this year.

Tron (TRX), Polkadot (DOT) and Cardano (ADA) digital asset investment products all saw inflows of less than $1 million a piece on the week.

CoinShares reports most of last week’s massive outflows originated from Canadian exchanges, citing one unnamed exchange specifically.

“Regionally, the outflows were almost solely from Canadian exchanges, and one specific provider. The outflows occurred on 17th June but were reflected in last week’s figures due to trade reporting lags, and likely responsible for Bitcoin’s decline to $17,760… 

Stripping out the $493 million outflows reveals that other providers saw aggregate inflows totaling $70 million, highlighting highly polarized sentiment amongst digital asset investors.”

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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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The closely followed analyst and host of the popular Coin Bureau channel says that one metaverse altcoin has more potential than most crypto assets in the sector.

In a new video update, the pseudonymous analyst known as Guy tells his 2.07 million followers that while its price action has looked underwhelming for many months now, virtual world The Sandbox has solid fundamentals.

“SAND token is reportedly rallying because tech giants came together to see standards for the metaverse earlier this week. Now I would say this is bearish rather than bullish for crypto, but it seems that SAND holders disagree. It’s too bad that the SAND-castle has collapsed, and by that, I mean SAND’s price. 

It’s a good thing that SAND has some actual fundamentals unlike most of the other metaverse cryptos out there. Not naming names.”

Last week, a large roster of tech giants and multinational corporations announced the creation of a “Metaverse Standards Forum” that aims to create global interoperability standards for the open metaverse. Some companies involved include Huawei, Meta and Microsoft.

The Sandbox also announced a partnership with media giant TIME last week that aims to recreate Times Square in Manhattan, New York inside its virtual world.

TIME CEO Keith Grossman said,

“We are thrilled to now tap into that community as we seek to find the architect to design TIME Square in the metaverse, as we create an immersive experience with The Sandbox that provides a natural bridge between the virtual community of TIMEPieces, the historical coverage and global relationships of TIME, the unique IP coming from TIME Studios, TIME for Kids, and our real-life IRL events.” 

The Sandbox (SAND) has outperformed much of the crypto markets over the last seven days. While it is currently down 7% on the day at time of writing, SAND is still up 38% on the week, priced at $1.18.

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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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The post One Ethereum Gaming Altcoin Stands Out From Rest of Emerging Market, According to Coin Bureau appeared first on The Daily Hodl.

Ripple chief Brad Garlinghouse reportedly says that the firm will leave the country if the U.S. Securities and Exchange Commission (SEC) wins its lawsuit against them.

According to a new report from Axios, Garlinghouse says that the company will cease to operate in the US if they lose the lawsuit that the SEC filed against the firm in late 2020 for allegedly issuing XRP as an unregistered security.

Says Garlinghouse,

“It’s not that we could, we will.”

The CEO reportedly said that should the San Francisco-based company leave the US, it would more or less do what it’s already been doing since the lawsuit began.

“If you think about how the world is operating right now, it’s as if the case has been lost other than a few other exceptions… So if we lose, if Ripple loses the case, does anything change?”

Garlinghouse’s remarks come after Ripple, who previously stated that most of its growth has come from outside of the US, opened up an office in Toronto, Canada.

Recently, Garlinghouse said that the SEC contradicted itself when it approved Coinbase’s S-1 initial public offering (IPO), less than a year after filing its lawsuit against Ripple.

“When Coinbase went public, which really wasn’t that long ago, Coinbase was trading XRP. They enabled consumers and businesses to trade XRP. The SEC had to approve their S-1 such that Coinbase could go public.

The SEC now seems to take the position when they sued us that, ‘Hey, XRP is a security and always has been.’ But they approved Coinbase going public, even though Coinbase is not a registered broker-dealer.

So there are contradictions here of the SEC almost not, within its own organization, knowing left hand, right hand.”

XRP is changing hands at $0.36 at time of writing, a 1.5% 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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Financial services titan Goldman Sachs is reportedly raising $2 billion to purchase discounted assets from embattled crypto lending platform Celsius (CEL).

According to a new report by CoinDesk, sources familiar with the matter say that Goldman Sachs is spearheading a group of investors in an effort to gobble up marked down assets of Celsius in case the firm files for bankruptcy.

An unnamed source familiar with the situation says that Goldman Sachs is determining whether there’s interest from Web 3.0 crypto funds, traditional financial institutions with capital to deploy and funds that specialize in distressed crypto assets.

The report also notes that the assets, which is likely in the form of crypto, would probably be managed by participants of the fundraiser.

Earlier this month, Celsius started a restructuring process featuring two prominent attorneys as a means of exploring its options in the face of possible insolvency after its native asset CEL fell 99% from its all-time high.

On June 13th, Celsius announced the halting of withdrawals and transfers due to extreme volatility in the crypto markets.

The firm said it made the decision “in order to stabilize liquidity and operations while we take steps to preserve and protect assets.”

“Celsius Network is pausing all withdrawals, swap, and transfers between accounts. Acting in the interest of our community is our top priority. Our operations continue and we will continue to share information with the community.”

Celsius is changing hands at $0.83 at time of writing, a nearly 20% drop 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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A large crypto exchange is issuing a notice of default to a major crypto hedge fund.

In a new announcement, Voyager Digital says they intend to seek and recover both Bitcoin (BTC) and US Dollar Coin (USDC) owed by Three Arrows Capital.

“[Voyager Digital] has issued a notice of default to Three Arrows Capital (3AC) for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC.”

With Bitcoin trading for $20,711 at time of writing, the 15,250 BTC is currently worth over $300 million, bringing the total debt to slightly over $665 million.

In the announcement, Voyager assures customers the default will not affect normal platform operations. Voyager plans to continue operating by using capital and facilities from Alameda Ventures Ltd. as the result of a separate deal.

“The default of 3AC does not cause a default in the agreement with Alameda.”

Last week, Three Arrows Capital founders Kyle Davies and Su Zhu said the crypto hedge fund was hit with heavy losses amid the crypto downturn.

Davies and Zhu said 3AC has hired legal professionals and financial advisors to help them meet its obligations to lenders and investors while mulling its options, including a rescue from outside firms.

“We have always been believers in crypto and we still are. We are committed to working things out and finding an equitable solution for all our constituents.”

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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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A robot with a reputation for outpacing the crypto markets is presenting its latest portfolio allocations as Bitcoin (BTC) and Ethereum (ETH) attempt to stay afloat.

Each week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a “hive mind” consensus.

The bot’s newest data finds that traders’ risk appetite is increasing as most market participants voted to overweight their portfolios with 17 altcoins, in addition to crypto stalwarts Bitcoin at 69% and Ethereum at 62%.

Coming in a close third was layer-1 blockchain protocol Solana (SOL) at 58% overweight, followed by popular cryptocurrency exchange Binance’s native token BNB at 33% and layer-2 scaling solution Polygon (MATIC) at 31%.

“Latest results of the RealVision Exchange crypto survey. Risk appetite is increasing. Percentage of participants who voted for overweight.

1. Bitcoin 69%

2. Ethereum 62%

3. Solana 58%

4. Binance 33%

5. Polygon 31%”

Other prominent digital assets that participants voted as “overweight” include Ethereum rival Avalanche (AVAX) at 25%, decentralized blockchain Cardano (ADA) at 20%, cross-chain liquidity protocol THORChain (RUNE) at 20%, as well as application-creating protocol Hedera Hashgraph (HBAR) and virtual world Decentraland (MANA) receiving 18%.

Cross-chain interoperability protocol Polkadot (DOT) was voted 16% overweight with dollar-pegged stablecoin US Dollar Coin (USDC) just one percentage point behind.

Seven other altcoins received overweight votes between 8% and 9%, including oracle network Chainlink (LINK) and smart contract platform Fantom (FTM).

The Real Vision Bot was co-developed by quant analyst and hedge fund CEO Moritz Seibert and statistician Moritz Heiden.

Real Vision founder and macro economic expert Raoul Pal has called the bot’s historic performance “astonishing,” saying it outperforms an aggregated bucket of top 20 crypto assets on the market by more than 20%.

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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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Binance has announced the launch of a new platform specifically built for VIP clients and institutional crypto investors.

The world’s largest exchange by trading volume says that Binance Institutional is aimed at leveling up its products and services for institutional investors, asset managers, brokers, hedge funds, family offices, proprietary trading firms, liquidity providers, high-net-worth individuals and mining companies.

Binance Institutional provides a range of proprietary offerings, including support for trading on credit, over-the-counter services for trade sizes of at least $200,000, yield products for clients and other professional services.

Binance launches the new platform as the exchange reports continued growth despite the crypto winter.

In an interview on Yahoo! Finance Live last week, Binance CEO Changpeng Zhao said that the exchange is hiring more people and increasing its merger and acquisition (M&A) activities. 

“We do look at stressed assets, companies that are insolvent, and we would like to help them either with loans, minority investments, or even M&A – majority acquisitions. So all of those things are on the table. But I think all of us are looking at all the deals that’s available in the market. And today, almost all of those deals do come to us.”

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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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