Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

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.

Veröffentlicht am

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.

Veröffentlicht am

LINK rallies 12% to overtake Hyperliquid, eyes $30; Check forecast

Key takeaways

  • Chainlink (LINK) is one of the best performers in the top 20, up 12% in the last 24 hours.
  • The coin is rallying on the back of recent partnerships.

Chainlink overtakes Hyperliquid on the market cap list

LINK, the native coin of the Chainlink blockchain, is one of the best performers among the top 20 cryptocurrencies by market cap. The coin is up 12% in the last 24 hours and is now trading above $23.

This positive performance means that Chainlink’s market cap now stands at $16 billion, surpassing Hyperliqudi’s $14 billion. This means that LINK has become the 11th-largest cryptocurrency by market cap.

The rally comes after Chainlink launched the Chainlink Reserve last week. The Reserve aims to convert revenue from Chainlink’s services and enterprise integrations into LINK tokens, establishing persistent buying momentum.

In addition to that, Chainlink announced its partnership with Intercontinental Exchange, the parent company of the New York Stock Exchange, earlier this week. This will see the two entities work together to bring foreign exchange and precious metals pricing data on-chain. The partnership showcases Chainlink’s expanding role as a bridge between traditional finance and blockchain rails.

LINK eyes $30 as bullish momentum grows

The LINK/USD 4-hour chart is one of the most bullish, thanks to the coin’s ongoing rally. The technical indicators are also bullish, with the RSI of 63 underscoring the immense buying pressure. The MACD lines also crossed over into positive territory since last month, suggesting a bullish bias.

LINK/USD 4H Chart

At press time, LINK is trading at $24. If the positive momentum continues, LINK could break above the first major resistance level at $26.9 over the next few hours. An extended rally would allow LINK to test the $30 mark for the first time since December 2024. 

However, if the market undergoes a correction, LINK could retest the TLQ and support level at $21.075. The bulls would defend this level, as failure to do so could see LINK drop to the monthly low of $15.5.

The post LINK rallies 12% to overtake Hyperliquid, eyes $30; Check forecast appeared first on CoinJournal.

Veröffentlicht am

Dogecoin price prediction: DOGE eyes $0.30 on whale accumulation

Key takeaways

  • DOGE is up 11% in the last 24 hours and is now eyeing the $0.30 resistance level.
  • Whales have been accumulating Dogecoin in recent weeks. 

Dogecoin rallies as the broader crypto market recovers

DOGE, the native coin of the Dogecoin blockchain, is one of the best performers in the top 10. The coin added 11% to its value in the last 24 hours and is now trading above $0.24.

The positive performance comes as the broader crypto market recovers from Monday’s slump. Bitcoin is trading at $120k once again, while Ether could set a new all-time high soon after surpassing $4,600.

In addition to that, whale accumulation has been the major driver behind DOGE’s price in recent weeks. Over 1B DOGE (valued at ~$200M) were acquired in recent sessions. Large-holder ownership now approaches half the circulating supply, signalling institutional confidence despite intraday volatility.

DOGE eyes the $0.3 mark as bullish momentum returns

The DOGE/USD 4-hour chart remains bullish thanks to the coin’s ongoing rally. DOGE has established a strong support at $0.220 (volume-backed morning defense) after overcoming the $0.238 resistance earlier today. 

Traders are now watching out for a possible breakout continuation, with stability of $0.232-$0.220 support band on further profit-taking. Persistence of whale accumulation flows in the coming sessions could signal further bullish momentum, while the impact of broader market volatility on meme coin positioning cannot be ignored. 

DOGE/USD 4H Chart

The RSI of 67 shows that buyers are in charge, with the MACD lines also within the bullish territory. If the bullish trend continues, DOGE could surge past the $0.28 resistance and hit the $0.30 mark for the first time since February.

However, the market could still undergo a correction that could see DOGE retest the $0.22 support level. Failure to defend this level could see DOGE drop below the $0.20 mark for the second time this month.

The post Dogecoin price prediction: DOGE eyes $0.30 on whale accumulation appeared first on CoinJournal.

Veröffentlicht am

How Bitcoin Penguins is turning out to be one of the best new meme coins to invest in

  • BPENGU’s 30-day presale hits $3.13M as Ethereum rally sparks altseason buzz.
  • Investors eye BPENGU with listing gains possible before 2 September launch.
  • Ethereum surge boosts sentiment for new meme coins like Bitcoin Penguins.

In the race for dominance among new meme coins, Bitcoin Penguins (BPENGU) is emerging as one of the most talked-about contenders— blending the viral appeal of penguin culture with the credibility of Bitcoin’s hard money thesis.

The project takes its cue from the meteoric rise of Pudgy Penguins (PENGU) — one of the top-performing altcoins in recent months with a 209% rally in 90 days.

But instead of running on Ethereum like Pudgy, Bitcoin Penguins has fused meme culture with Bitcoin maximalism, aiming to create a meme token that pairs viral community power with BTC’s store-of-value appeal.

A strong presale that is about to end

The 30-day presale, which was launched on July 28, has been one of the strongest token presales in the market.

Bitcoin Penguins has already raised $3.13 million so far, and the token is currently available at $0.00148, with the next price jump scheduled in 2 days.

The 15-stage presale is structured in a way that the price will increase by 5% in each stage.

With 14 days remaining in the presale, investors getting in now can get up to a 35% return at the time of listing.

Out of the 10 billion total token supply, 55% is allocated to the presale.

The remainder is distributed to staking (20%), liquidity (10%), cold storage vault (5%), NFT giveaways & airdrops (5%), the penguin charity fund (2%), and team/advisors (3%).

The project’s mantra — “Penguins don’t sell. Penguins don’t FUD. Penguins just HODL.” — is designed to cement a strong, loyalty-driven community, a tactic that has proven effective in the meme coin space.

Ethereum rally fuels altcoin season hopes

The broader backdrop for Bitcoin Penguins’ debut comes amid renewed strength in the altcoin market, led by a sharp rally in Ethereum.

Ether (ETH), the native asset of the Ethereum network, climbed as much as 8.6% on Wednesday to $4,666, leaving it just 5% shy of its all-time high from November 2021.

Analysts attribute the move to accelerating demand from institutional investors and corporate treasuries.

Notably, BitMine Immersion Technologies has filed to expand its at-the-market equity offerings to $24.5 billion, with plans to channel much of the proceeds into Ethereum purchases.

BitMine now holds 1.2 million ETH worth $5.27 billion, representing nearly 1% of total supply — a 600% jump in just 30 days.

Other major holders, such as SharpLink Gaming and Ether Machine, have also significantly expanded positions, while July saw the sharpest-ever monthly gain in corporate Ethereum balances, up 127% to 2.7 million ETH.

This aggressive accumulation has bolstered sentiment that altcoin season may be near.

For new meme coins like BPENGU, such a backdrop could prove favourable, as traders often rotate profits from large-cap rallies into smaller, high-volatility tokens when market confidence rises.

Timing the penguin meta for altcoin season

Market sentiment is turning bullish. Bitcoin is trading near record highs, Ethereum has been surging, and traders are increasingly eyeing new meme coins as altcoin season stirs.

In the last cycle, penguin-themed tokens became unexpected breakout stars, and BPENGU is billing itself as the natural evolution of that trend — “the next PENGU,” but with Bitcoin-powered tokenomics.

For traders hunting the next viral hit among new meme coins, the waddle might be worth joining before the ice melts on 2 September.

 

 

 

The post How Bitcoin Penguins is turning out to be one of the best new meme coins to invest in appeared first on CoinJournal.