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• fun’s BOOST buybacks helped offset selling from the latest token unlock.
• PUMP reclaimed $0.002 as daily trading volume topped $135 million.
• Bulls are watching the $0.00210-$0.00215 resistance zone.

Pump.fun price extended its recovery this week, climbing above the $0.002 mark as buying pressure continued to outweigh concerns over a major token unlock.

The token gained more than 14% over the past 24 hours, with trading volume rising to roughly $135 million, showing that market participation remained elevated during the rally.

Notably, the price hike comes after one of the largest vesting events for the project, a development that many traders expected would trigger heavy selling.

BOOST buybacks absorbed the token unlock pressure

A key catalyst behind the latest rally has been the BOOST mechanism, which creates ongoing buying pressure for PUMP through token buybacks.

The feature has become an important part of the project’s token economy and has attracted renewed attention as the token recovered from recent lows.

Introducing BOOST mode – the new standard launch mechanism for EVERY new pump fun coin

Over $100M in dead liquidity is lost every year when tokens migrate. Now, we’re reinjecting future liquidity into EVERY BONDED COIN.

Learn more 👇 pic.twitter.com/FJEE0rSXiB

— Pump.fun (@Pumpfun) July 21, 2026

But the recovery has been particularly notable because it followed a major vesting event.

Around 32.5 billion PUMP tokens allocated to investors and another 50 billion tokens allocated to the team became eligible for unlocking as part of the project’s vesting schedule.

Rather than leading to an immediate collapse in price, the market continued to absorb the additional supply.

The remaining unlocked allocations are scheduled to enter circulation gradually over the next 36 months instead of all at once.

That has shifted traders’ attention toward whether continued demand can keep pace with future releases rather than focusing solely on the initial unlock.

Technical indicators point to an improving trend

The improving price structure has also been reflected across several technical indicators.

PUMP has recovered above the Guppy Multiple Moving Average cluster, a sign that short-term momentum has strengthened.

At the same time, the Supertrend indicator has turned bullish as the token attempts to break above the upper boundary of a long-term descending channel that has capped price advances for months.

Another closely watched development is the behavior of derivatives markets.

Unlike rallies driven primarily by leverage, recent data showed that open interest declined while the token price continued to rise.

That combination suggests that spot market demand has played a larger role in supporting the recovery.

Trading activity has also accelerated significantly. Daily trading volume climbed above $135 million, while recent sessions recorded volume growth of more than 500% compared with earlier levels.

Higher participation has helped support the move as buyers pushed the token back above the psychological $0.002 level.

Market participants have also been watching the positioning of well-known Solana trader Ansem, who publicly disclosed a long position around the $0.001675 area.

The disclosure drew additional attention to PUMP during the early stages of its recovery and coincided with improving sentiment across the Solana memecoin sector.

Key PUMP price levels to watch

The next technical test lies around the $0.00210 to $0.00215 resistance zone, where previous rallies have struggled to maintain momentum.

A sustained move above that area would place the next upside targets between approximately $0.0025 and $0.0028.

On the downside, immediate support is seen between $0.00185 and $0.00190.

A deeper pullback could bring the $0.00170 area back into focus, while broader technical analysis identifies around $0.00130 as a level that would invalidate the current bullish structure.

Longer term, some market observers have pointed to $0.005 as a possible target if the current breakout develops into a sustained trend.

However, reaching that level would require continued buying pressure, further increases in trading activity, and the market’s ability to continue absorbing tokens released through the vesting schedule.

The post Pump.fun price climbs as BOOST buybacks absorb vesting supply appeared first on CoinJournal.

• The lawsuit was filed the day BitMEX announced its shutdown.
• Lawsuit alleges excess Bitcoin collateral was retained.
• Plaintiffs claim losses totalling 622.66 BTC.

BitMEX is facing fresh legal trouble after a class-action lawsuit accused the cryptocurrency derivatives exchange of deliberately engineering customer liquidations to take possession of traders’ Bitcoin collateral.

The lawsuit was filed on the same day the company announced plans to shut down its operations, placing renewed attention on allegations surrounding its liquidation system and trading practices.

The case, filed in the US District Court for the Southern District of New York, seeks to recover hundreds of bitcoins that the plaintiffs claim were wrongfully taken through forced liquidations.

Lawsuit claims more than 622 Bitcoin were wrongfully seized

The lawsuit was brought by BKX Services Inc. and investor David Namdar, who allege they collectively lost 622.66 BTC because of BitMEX’s liquidation process.

According to the complaint, BKX Services lost at least 305.81 BTC, while David Namdar claims losses exceeding 316.85 BTC.

The plaintiffs argue that these losses were not the result of normal market conditions but stemmed from a liquidation system that allegedly operated in BitMEX’s favour.

The complaint accuses the exchange of intentionally triggering liquidations that enabled it to retain customers’ remaining Bitcoin collateral.

It further alleges that BitMEX profited from these liquidations instead of returning any excess collateral after positions were closed.

The plaintiffs are seeking damages and other legal remedies, arguing that the exchange’s practices caused significant financial losses over multiple trading events.

Plaintiffs challenge BitMEX’s liquidation model

At the center of the lawsuit is BitMEX’s liquidation engine, which the plaintiffs claim was designed to benefit the exchange rather than protect traders from excessive losses.

BitMEX became one of the largest crypto derivatives platforms by offering leveraged trading of up to 100x, allowing traders to control positions much larger than their deposited collateral.

While leverage can increase profits, it also raises the risk of liquidation when the market moves against a position.

The complaint alleges that traders’ positions were liquidated even when the remaining collateral exceeded the amount required to cover losses. Instead of returning the excess Bitcoin after closing the positions, the lawsuit claims BitMEX retained those funds.

The plaintiffs also allege that server outages and disruptions during periods of heightened market volatility contributed to liquidations that could have been avoided.

According to the filing, these incidents prevented some traders from managing or closing their positions before they were automatically liquidated.

The lawsuit argues that these practices allowed the exchange to accumulate customer Bitcoin through forced liquidations rather than simply covering trading losses.

Legal action coincides with BitMEX shutdown announcement

The timing of the lawsuit has drawn attention because it was filed on the same day BitMEX announced that it would cease operations.

The company said it plans to shut down on September 23, 2026, following a strategic review of its business.

As part of the closure process, customers have been advised to close open positions and withdraw their assets before operations end.

The legal action now adds another layer of uncertainty to the exchange’s final weeks of operation.

While the shutdown announcement focused on the company’s decision to wind down its business, the lawsuit raises separate allegations regarding the handling of customer funds and liquidation practices.

The claims made in the complaint have not been proven in court, and the lawsuit represents allegations brought forward by the plaintiffs.

The court proceedings will determine whether BitMEX or its related entities bear legal responsibility for the alleged losses.

The case also revives long-running scrutiny of BitMEX’s liquidation system, which has been the subject of debate within the cryptocurrency trading community for years.

As the exchange prepares to end its operations, the outcome of this lawsuit could become one of the most closely watched legal disputes involving a crypto derivatives platform and its treatment of customer collateral.

The post BitMEX sued for engineering customer liquidations to seize traders’ Bitcoin collateral appeared first on CoinJournal.

• Ethena (ENA) is testing critical support at $0.085.
• A 290M ENA wallet transfer raised selling concerns.
• Bitcoin’s next move could determine ENA’s direction.

Ethena is back in focus after a large wallet transfer drew attention at a time when the token is already testing a crucial price level.

While the transfer sparked concerns about potential selling pressure, the broader market reaction has remained measured.

ENA tests key support as whale transfer attracts attention

Ethena was trading at $0.08695, down 2.4% over the past 24 hours, after moving between $0.08530 and $0.09125 during the session.

Although the daily decline has put pressure on the token, ENA is still up 8.3% over the past seven days and 11.1% over the last two weeks, showing that it has recovered part of the losses recorded earlier this year.

The latest market attention came after a wallet linked to Ethena’s Coinbase custody holdings transferred approximately 290 million ENA, valued at about $26.4 million, to another wallet that has previously interacted with cryptocurrency exchanges.

Today, Ethena’s Coinbase custody wallet (0x631) transferred 290m $ENA, worth $26.41m, to the personal wallet 0xfDD.

Based on its transaction history, wallet 0xfDD typically transfers ENA to personal wallets, which are then used to sell the tokens on Binance and Coinbase.… https://t.co/CkCGU73kLv pic.twitter.com/jkB8dFUNEG

— Nazoku (@Nazo_ku) July 23, 2026

Transactions of this size often raise concerns because they can precede exchange deposits and increased selling activity.

However, the transfer alone did not trigger an immediate wave of selling.

Market data showed that exchange netflows remained negative, meaning more ENA continued leaving exchanges than entering them. That suggests the transaction has not yet translated into confirmed selling pressure in the spot market.

The transfer has therefore become an important signal for traders rather than confirmation of a bearish trend.

Focus is now on whether additional transfers to centralised exchanges follow in the coming sessions.

Falling trading volume points to weak selling conviction

Another notable development is the decline in trading activity.

ENA recorded approximately $89.4 million in 24-hour trading volume, while recent market data showed that daily trading activity had dropped by more than 40% compared with previous sessions.

Lower trading volume during a price decline often indicates that sellers are becoming less aggressive rather than accelerating their positions.

While this does not guarantee a reversal, it also means the recent weakness has not been accompanied by unusually strong conviction from the market.

The token’s historical price action also provides additional context.

ENA reached an all-time high of $1.52 in April 2024 but currently trades about 94.3% below that level.

At the same time, it remains roughly 23.4% above its all-time low of $0.07023, recorded on June 30, 2026.

These figures highlight that ENA continues to trade much closer to its recent lows than its previous peak, making current support levels particularly significant for short-term price direction.

$0.085 remains the level traders are watching

From a technical perspective, $0.085 has emerged as the most important near-term support level.

A sustained move below this area, especially if accompanied by rising trading volume, would increase the likelihood of a decline toward the next major support around $0.080.

On the upside, resistance is beginning to form between $0.093 and $0.096.

Price data also shows a concentration of short liquidation levels just above $0.093, meaning a successful breakout through that region could trigger additional buying as short positions are forced to close.

For now, ENA remains caught between these two key technical zones, leaving traders focused on confirmation rather than anticipation.

Bitcoin’s next move could shape ENA’s direction

Beyond token-specific developments, Bitcoin continues to play an important role in ENA’s short-term outlook.

Market participants are watching whether Bitcoin can remain above $64,000, as broader weakness in the largest cryptocurrency has weighed on sentiment across the digital asset market.

If Bitcoin stabilises, buying interest could return to several altcoins, including ENA.

Conversely, continued weakness in Bitcoin would increase pressure on support levels that are already being tested.

That makes Bitcoin’s price movements an important external factor alongside the developments surrounding the large ENA wallet transfer.

Ethena also continues to maintain strong protocol activity, with approximately $3.992 billion in total value locked (TVL).

While TVL reflects ongoing capital committed to the protocol, traders are currently placing greater emphasis on price action, exchange flows, trading volume, and macro market conditions when assessing ENA’s next move.

For now, attention remains fixed on three developments: whether the $0.085 support can hold, whether the 290 million ENA wallet transfer eventually results in meaningful exchange deposits, and whether Bitcoin can provide enough market stability to support a broader recovery.

The post Ethena price prediction: can ENA hold $0.085 after $26.4M whale wallet transfer? appeared first on CoinJournal.