Monat: August 2025

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Ethena price rises towards $1 as TVL tops $10B as Golden Cross forms

  • Ethena (ENA) nears $1 as TVL jumps past $10B and momentum builds.
  • Golden Cross and bullish signals point to further upside.
  • Buybacks, whale activity, and USDe growth drive demand.

The price of the native token of Ethena, ENA, has risen sharply over the past few days, and traders are taking note.

Moreover, the protocol’s total value locked has surged past $10 billion, which has added fresh momentum to the rally.

Ethena’s TVL surges past $10B

According to DefiLlama data, Ethena’s TVL has jumped to roughly $10.979 billion. The protocol’s revenue has also climbed sharply, with weekly USD inflows rising materially in recent weeks.

Additionally, Ethena’s synthetic dollar USDe now sits among the largest stablecoins, with an estimated market cap north of $10.2 billion.

Notably, the high APY on USDe and its cross-chain expansion have attracted both retail and institutional liquidity.

Technical analysis signals a bullish run

From a technical analysis standpoint, the charts are aligned in favour of bulls after a classic golden cross formed, with the 50-day EMA crossing above the 200-day EMA.

Ethena price analysis

Additionally, momentum indicators support further gains, with the Relative Strength Index (RSI) rising and a bullish Moving Average Convergence Divergence (MACD) crossover in place.

Adding to the bullish scenario, the price action also shows higher highs and an ascending channel, which traders regard as a durable bullish structure.

However, some caution is advised, seeing that the RSI has entered the overbought region.

Token buybacks strengthen the bullish case

Moreover, Ethena’s tokenomics include a $260 million buyback fund that currently targets around $5 million in daily repurchases.

Sustained buybacks have already begun to reduce the circulating supply and to add a scarcity premium to ENA.

Additionally, planned token unlocks and a forthcoming fee switch could alter supply dynamics further, and these mechanisms may funnel more value back to holders.

Whales, volume, and institutional interest

Furthermore, on-chain analytics indicate growing whale accumulation, with large addresses holding a significant portion of the supply.

There is also an increased institutional inflow into derivatives amid heightened open interest, suggesting professional participation has increased.

Moreover, spot and futures liquidity have expanded, with recent daily volumes spiking into multi-billion dollar ranges.

Key Ethena price levels to watch

The market has established $0.75 as a key support, and traders are watching this level closely.

Meanwhile, immediate resistance sits in the $0.84–$0.87 band, and a decisive break above those levels could clear the path toward $1.00.

The upside targets that analysts cite include $1.02 and $1.18 if momentum continues, and extended rallies could reach higher levels.

However, traders should remember that a breach below $0.68 would increase the probability of a deeper correction.

Moreover, traders should monitor buyback cadence, exchange listing news, and USDe adoption metrics as primary catalysts.

Additionally, on-chain whale movements and derivatives open interest should be watched for signs of allocation shifts.

The post Ethena price rises towards $1 as TVL tops $10B as Golden Cross forms appeared first on CoinJournal.

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Solana price breaks past $200, targets July peak

  • Solana (SOL) jumps above $200, aiming for the July peak of $206.32.
  • Whale sales and unstaking raise short-term supply concerns.
  • $170 support and $206 resistance are key to the next price move.

Amid renewed altcoin market optimism, the native token of Solana, SOL, has surged past the $200 mark, reclaiming a key psychological level.

Over the past 24 hours, SOL has risen by 15.4% to trade near $201.71, with a 24-hour range stretching from $174.20 to $201.58.

Solana now targets July peak

Crucially, breaking $200 is a psychological and technical milestone that can attract buyers. As renowned analyst Jelle notes, “above $200, very little resistance left to bring it back down.”

Technically, a minor support sits at $195.26, while the critical support ranges from $187.71 to $184.67.

A breakdown through $173.43 would signal a medium-term reversal and might target the June–August trendline near $163.37.

However, on short timeframes, the hourly Moving Average Convergence Divergence (MACD) is gaining in the bullish zone, and the Relative Strength Index (RSI) remains above 50, indicating moderate momentum.

With the sharp price surge, all eyes are now on the July high at $206.32 as the next immediate target.

Moreover, if SOL clears $206.32, there are chances that it could extend toward the March 2024 peak at $210.18, testing bullish conviction. Market analysts project that the token will rise to $222.66 or even $230.32, especially if it clears the resistance at $204.

So far, SOL has climbed more than 13% from Monday’s low of $173.43, hinting at a strong bullish momentum.

Whales stir concern

Meanwhile, on-chain data shows large transfers to exchanges, prompting questions about distribution.

Specifically, more than 226,000 SOL moved to exchanges in recent days.

Notably, one whale slashed holdings by 71% in under two days, trimming a $24 million position to roughly $6.8 million.

These sales clustered near an average price of about $177 and coincided with a dip below $185.

SOL unstaking adds pressure

In addition, a wallet linked to Alameda Research unstaked roughly $35 million worth of SOL.

The tokens had been locked since late 2020, when their value was about $350,000 — a roughly 100-fold gain.

Nevertheless, the Net Position metric remains positive and has helped price consolidate above the critical $170 level.

What traders should watch out for

Notably, despite the rebound, Solana has lagged Ethereum in recent stretches.

Indeed, SOL is up roughly 1.07% in August while ETH has gained about 15.75%. Over the quarter, ETH’s roughly 72% return far outpaces SOL’s near 12.8%.

Importantly, large exchange inflows and the Alameda unstaking raise the prospect of coordinated distribution.

If $170 fails to hold, traders should expect increased downside and a deeper correction.

Conversely, a sustained breakout above $206.32 could draw fresh buyers and revive momentum.

The post Solana price breaks past $200, targets July peak appeared first on CoinJournal.