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Ethena price prediction following the Ethena StablecoinX SPAC deal

  • Ethena (ENA) has breached $0.55 after 130% rally fueled by $360M SPAC deal to form StablecoinX treasury company.
  • StablecoinX is expected to list on Nasdaq, focusing on long-term ENA buybacks.
  • A hold above $0.55 brings $0.91–$1.52 target in view, with a pullback risk to $0.20 on the contrary.

Ethena (ENA) is in the spotlight due to a remarkable price rally amid a game-changing SPAC deal that could redefine the altcoin’s long-term trajectory.

With the announcement of a $360 million treasury initiative involving a merger with the SPAC TLGY Acquisition Corp, the Ethena Foundation has triggered widespread speculation about what’s next for ENA.

The merger has coincided with a sharp recovery in the price of ENA, which recently surged more than 130% from its June lows, flying past the critical $0.5892 mid-range resistance.

The SPAC deal has fueled investor excitement

On July 21, the Ethena Foundation revealed it had launched StablecoinX, a crypto-native treasury company that will merge with TLGY Acquisition Corp to go public on the Nasdaq under the ticker USDE.

The newly-formed company is tasked with accumulating a long-term strategic reserve of ENA, backed by $360 million in PIPE funding, including a $60 million commitment from the Foundation itself.

Top-tier crypto investors like Dragonfly, Pantera Capital, Galaxy, and Polychain have also joined the deal, reinforcing confidence in ENA’s potential as a long-term ecosystem token.

The proceeds will not only fund token accumulation but also allow StablecoinX to operate validator infrastructure and staking services for the Ethena protocol.

With Ethena already positioned as the third-largest issuer of digital dollars on-chain — trailing only Tether and Circle — this treasury strategy aims to deepen liquidity and promote price stability across the ecosystem.

Ethena price technical breakout signals shift in momentum

As the news of the StablecoinX launch broke, ENA’s market reaction was swift and bullish, pushing the token past both the descending resistance line and the key horizontal resistance at $0.42.

The price pushed past the crucial decision level at $0.55, a mid-range resistance that has historically defined bullish or bearish continuations, and hit an intraday high of $0.6056.

If ENA manages to reclaim and close above $0.55 with volume support, it could ignite a push toward $0.91 and potentially the all-time high of $1.52 set in April 2024.

Ethena price chart
Source: GeckoTerminal

However, if the price is rejected at this level, traders may witness a corrective move back to the range lows near $0.20, a zone that could present a compelling re-accumulation opportunity.

Momentum indicators such as the RSI and MACD are clearly in bullish territory, with no signs yet of bearish divergence, suggesting that the rally may still have legs.

Market fundamentals strengthen ENA’s case

Beyond price action, ENA’s market fundamentals have dramatically improved, with a current price of $0.5377 and a 30-day gain of over 105%.

Its circulating supply of 6.35 billion ENA represents just over 42% of its 15 billion total supply, while the token boasts a robust $3.38 billion market cap and a TVL of $6.358 billion.

Daily trading volume has soared to $1.5 billion, reflecting growing liquidity and heightened investor interest following the SPAC announcement.

Ethena’s USDe, a synthetic dollar backed by a delta-hedging strategy, has also reclaimed a $6 billion supply — a figure last seen at its peak, further boosting community confidence.

In the short term, Ethena’s price outlook largely depends on how the price behaves at the $0.55 resistance and whether StablecoinX’s listing on Nasdaq progresses without delays.

The post Ethena price prediction following the Ethena StablecoinX SPAC deal appeared first on CoinJournal.

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Ethereum price rises towards $3,900 as it mirrors a historic stock market rally

  • Ethereum price is nearing $3,900 as its bull run mirrors Dow’s 1980 bull pattern.
  • Target at $7,150 if ETH price breaks out of the current ascending pattern.
  • Ethereum has recorded $2.12B ETH inflows, signalling strong institutional demand.

Ethereum (ETH) is gaining attention as its price pushes closer to the $3,900 mark, fueled by technical patterns that echo a historic stock market rally.

Ethereum’s bullish momentum is drawing comparisons to the Dow Jones’ explosive run in the 1980s, as analysts suggest ETH may be entering the final phase of a long-term uptrend.

Ethereum follows a historic roadmap

According to market analyst Gert van Lagen, Ethereum is tracing a textbook expanding diagonal, also known as a broadening megaphone pattern, which is nearly identical to a bullish formation seen in the Dow Jones Industrial Average over four decades ago.

This technical setup has been in place since mid-2022 and has already powered a massive 245% rally from November 2022 to February 2024.

Now, Ethereum appears to be in the final stretch of this structure, setting the stage for a potential surge toward the upper boundary of the pattern near $8,000.

Van Lagen links this bullish structure to Elliott Wave Theory, identifying Ethereum’s current position as the fifth and final wave — a stage often described as the “blow-off top,” where prices can rise rapidly before a trend reversal.

Triangle breakout could unlock new highs for ETH price

Ethereum’s chart is also flashing another bullish signal in the form of an ascending triangle, which is typically a continuation pattern that forms ahead of significant upward moves.

The token is currently consolidating between $3,900 and $4,150, which analysts consider a critical resistance zone.

If Ethereum (ETH) manages to break through this level, the pattern’s measured move points to a potential target of $7,150 — an 80% increase from current prices.

This technical breakout could act as the first major confirmation that the final leg of Ethereum’s megaphone pattern is underway, offering swing traders and institutional players strong upside potential.

Institutional capital floods Ethereum

Adding fuel to the fire, Ethereum has just posted a record-breaking week for institutional inflows, with $2.12 billion pouring into ETH investment products according to Coinglass’ total Ethereum spot ETF net inflow data.

That figure nearly doubles the token’s previous weekly inflow high and reflects surging interest from hedge funds, asset managers, and ETF providers.

So far in 2025, Ethereum has attracted over $6.2 billion in capital, already surpassing its entire 2024 total.

Over the last 13 weeks, these inflows have accounted for 23% of Ethereum’s total assets under management — a powerful signal that institutions are increasing exposure.

Although Bitcoin still leads overall with $2.2 billion in inflows this week, Ethereum’s momentum stands out, especially as exchange-traded product (ETP) volume now makes up more than half of Bitcoin’s total trading volume.

This data suggests that institutions are not only accumulating ETH but may also be positioning it as a leading asset in the next phase of crypto adoption.

Macro tailwinds strengthen ETH price outlook

On the macro front, expected interest rate cuts from the Federal Reserve and the recent approval of Ether-based ETFs are creating a favourable environment for Ethereum to thrive.

These developments could reduce downside risk and help sustain the current rally, especially if capital rotation from traditional assets into digital assets continues.

Investor confidence is also growing as Ethereum regains its long-term ascending trendline, further reinforcing the view that the current rally is technically healthy.

According to some projections, ETH may reach as high as $10,000 under the right conditions, particularly if institutional inflows accelerate.

In the short term, according to our earlier Ethereum price forecast, eyes are on the $4,150 resistance zone as the next key ETH price level.

The post Ethereum price rises towards $3,900 as it mirrors a historic stock market rally appeared first on CoinJournal.

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Strategy buys 6,220 Bitcoin for $739.8M, takes total holdings past $43B

  • $740.3M raised via equity sales across four security classes.
  • 1.6M MSTR shares sold under $21B ATM authorisation.
  • Strategy’s BTC yield for 2025 stands at 20.8% year-to-date.

Strategy has added another 6,220 Bitcoin to its corporate balance sheet, spending $739.8 million during the week ending July 20, 2025.

The purchase was funded through the company’s ongoing at-the-market (ATM) equity offerings.

With this latest acquisition, the firm now owns 607,770 BTC—worth over $43 billion at current prices—making it the largest institutional holder of Bitcoin worldwide.

The firm, chaired by billionaire Michael Saylor, paid an average of $118,940 per Bitcoin in its latest purchase, as disclosed in a filing published on Monday.

This represents a significant premium over its historical average acquisition cost of $71,756 per BTC.

Strategy issues 1.6M MSTR shares in latest equity round

Between July 14 and July 20, Strategy raised approximately $740.3 million across four different security classes.

The majority of funds—$736.4 million—were generated from the sale of 1,636,373 MSTR common shares.

The company also issued 5,441 STRK preferred shares with an 8.00% strike, raising $700,000. Another 2,000 STRF shares were sold at a 10.00% strike, bringing in $200,000. Additionally, 31,282 STRD preferred shares, also with a 10.00% stride, were issued for $3.0 million in proceeds.

All four instruments fall under large multi-billion-dollar issuance programmes. Both the MSTR and STRK share classes are authorised for up to $21 billion each.

These programmes demonstrate Strategy’s continued ability to convert equity into Bitcoin reserves at scale without relying on traditional financing channels.

BTC acquisition cost shows 20.8% YTD return for Strategy

Bitcoin prices remain significantly higher than Strategy’s average cost basis of $71,756, giving the firm a year-to-date return of 20.8% on its BTC holdings.

At current market prices—just above $118,000—Strategy’s crypto treasury continues to outperform many traditional corporate investments.

This yield figure is particularly notable as Bitcoin has consolidated after hitting an all-time high of $123,000 last week.

Although prices have since pulled back slightly, the bullish market structure remains intact.

Analysts have observed a pennant formation following BTC’s strong rally in July, typically a continuation pattern that suggests potential for further upside.

Despite short-term market volatility, Strategy’s long-term accumulation approach has proven resilient.

The latest purchase reinforces its strategy of treating Bitcoin as a primary treasury asset and a long-term store of value.

Market reacts as Saylor signals continued BTC accumulation

Michael Saylor has maintained a consistent narrative around Bitcoin being a superior store of value.

On Saturday, just days after the most recent BTC buy, he posted on X (formerly Twitter): “Stay humble, stack sats.” The phrase has been interpreted as a signal that Strategy’s accumulation is far from over.

The company’s approach, combining equity capital markets with ongoing BTC purchases, serves as a blueprint for institutional crypto exposure.

As regulatory clarity and institutional infrastructure improve, Strategy’s model could influence how other publicly listed firms handle treasury allocation.

Bitcoin’s latest rally, paired with corporate participation at this scale, continues to shift market sentiment toward long-term adoption.

While the token’s price has slipped slightly from its recent peak, its resilience above the $115,000 level is being closely watched by traders and institutional investors alike.

The post Strategy buys 6,220 Bitcoin for $739.8M, takes total holdings past $43B appeared first on CoinJournal.

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Arbitrum leads with $1.9 billion inflows, outpaces Avalanche and Unichain in DeFi liquidity race

  • Ethereum price stability supports Layer 2 network usage.
  • Developer activity and fintech integrations drive growth.
  • Capital shift indicates rising trust in Ethereum scaling solutions.

Arbitrum has emerged as the top-performing cross-chain bridge this past week, attracting $1.9 billion in net inflows and surpassing its closest competitors by a wide margin.

This figure is more than 20 times higher than Avalanche’s $85.69 million and nearly 30 times Unichain’s $63.51 million over the same period.

The sharp rise in inflows points to a significant shift in investor capital towards Layer 2 solutions with deep liquidity, Ethereum compatibility, and active decentralised finance (DeFi) ecosystems.

The surge also strengthens Arbitrum’s standing as a leading Ethereum Layer 2 network offering lower transaction fees and faster processing speeds.

According to on-chain data, the bridge inflows are predominantly in stablecoins like USDT and USDC, helping Arbitrum diversify its asset base while shoring up the platform’s total value locked (TVL).

Stablecoin flow boosts liquidity and TVL

The inflow surge is driven by substantial stablecoin movement into Arbitrum’s ecosystem, with USDT and USDC being the primary assets.

These inflows not only bolster short-term liquidity but also create favourable conditions for long-term TVL growth across decentralised applications (dApps).

As TVL grows, platforms benefit from improved borrowing conditions, liquidity incentives, and higher yield opportunities—all of which contribute to ecosystem resilience.

This trend mirrors earlier DeFi cycles, notably in July 2021, when large inflows through cross-chain bridges led to accelerated adoption for networks like Polygon and Optimism.

In Arbitrum’s case, the inflow boost is particularly timely, with Ethereum’s recent price levels hovering around $3,763, helping sustain high throughput and transaction demand on Layer 2 networks.

Developer activity and fintech integration support momentum

Developer participation remains a key driver of Arbitrum’s ecosystem health.

Recent data shows sustained engagement from builders focusing on improving interoperability, expanding dApp functionalities, and reducing onboarding friction for users.

With technical leadership from figures like Steven Goldfeder and Harry Kalodner, Arbitrum continues to prioritise cross-platform compatibility to support seamless asset transfers.

Arbitrum is also strengthening its position in the fintech sector.

Its integration with multiple platforms catering to retail investors is expanding its user base and enhancing accessibility to decentralised finance tools.

As regulatory frameworks for crypto evolve, this dual focus—on compliance and reach—is enabling Arbitrum to maintain an edge in the highly competitive Layer 2 market.

Liquidity growth signals shift in DeFi investment

The platform’s ability to attract capital at this scale suggests increasing investor confidence in Ethereum scaling solutions that offer both utility and security.

The liquidity shift away from competing bridges such as Avalanche and Unichain indicates a reallocation of DeFi capital towards ecosystems with more mature infrastructure and broader use cases.

Arbitrum’s growing dominance in this sector has broader implications for Layer 2 expansion strategies and the direction of cross-chain DeFi innovation.

The rising inflows also signal renewed interest in Ethereum-based ecosystems following a period of cooling across the crypto market.

As the bridge landscape evolves, platforms like Arbitrum are expected to continue benefiting from their early-mover advantage, interoperability focus, and integration of stable assets to enhance liquidity depth and platform stability.

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Solana price prediction: SOL targets breakout above $200

  • Solana price is above $190, with intraday highs of $192 as bulls target the psychological $200 level.
  • Analysts say SOL could explode above the $190 level amid current altcoin gains.
  • Institutional interest in Solana continues amid investment product inflows.

Solana (SOL) is trading above $190 on Monday, breaking higher to hit its highest level since February.

This comes as SOL gained over 14% this past week and by more than 34% in the past month, buoyed by a rally for altcoins after the GENIUS Act became law.

With on-chain activity and technical indicators bullish, analysts say a breakout above $190 could see Solana rally hard. Other altcoins, including Ethereum, XRP, and Cardano, are also bullish.

Solana price breaches key resistance level

Solana has recently ticked higher amid an upward trend that excites bulls, with analysts noting it’s poised for a potential parabolic move if it breaks above a critical resistance level.

According to an analysis by Glassnode, the next major resistance for SOL is around $190, where investors have accumulated over 8 million Solana tokens.

Although this accumulation zone represents a significant hurdle, bulls are currently retesting it.

Buyers have in the past 24 hours gained nearly 7% to breach the supply barrier and reach intraday highs of $191.79.

Furthermore, Glassnode suggests breaking above this level could be key as the supply becomes less dense.

As a thinning supply zone sits above $190, the $200 price level could be on the cards.

SOL price forecast

As noted, market forecasts for Solana are increasingly optimistic, with a confluence of technical and on-chain factors in favour.

Liquidations have jumped as shorts feel the heat, accounting for over $12 million of the $16 million wiped out in the past 24 hours.

Notably, market observers say that high market activity has often seen SOL liquidations explode on Solana-based perpetual trading platforms.

This surge in on-chain liquidations underscores the intense trading volume and speculative interest in SOL, particularly on decentralized platforms leveraging Solana’s high-speed blockchain.

Crypto analyst Ali Martinez says a break above $189 for SOL leaves nearly no major hurdle for bulls.

Solana’s total value locked (TVL) amid a massive spike in decentralized finance (DeFi) adoption adds to the bullish sentiment for SOL.

Solana-based digital asset products exchange-traded products have also been on an upward trend in terms of inflows.

The ETPs, including exchange-traded funds (ETFs), managed over $39.1 million in inflows for the past week.

While it lagged Bitcoin’s $2.19 billion in weekly inflows, the number is a reflection of growing adoption for SOL.

DeFi TVL on Solana has in fact jumped to $10.2 billion, hitting the milestone for the first time in nearly two years.

The SOL price appreciation has helped push the TVL up, with Jito Sol up to $3.09 billion, Jupiter Exchange to $2.9 billion and Kamino Finance to $2.89 billion.

The post Solana price prediction: SOL targets breakout above $200 appeared first on CoinJournal.