Schlagwort: crypto business

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Ethena looks to gain as Mega Matrix scoops $6m ENA for treasury strategy

  • Ethena price hovered near $0.70 amid overall crypto market wobbles on Friday.
  • Mega Matrix announced it acquired $6 million of ENA for its treasury strategy.
  • Analysts see scope for ENA to approach the $1 mark in the coming weeks as bulls regain control.

Digital asset treasury moves have been the talk of Wall Street for a while now, and the latest cryptocurrency to attract notable investment is Ethena (ENA).

On Friday, Singapore-based short-video streaming operator Mega Matrix announced its institutional foray into the DAT ecosystem with a $6 million scoop of ENA tokens.

While the news came amid an overall crypto downturn, ENA price remained near a key level of $0.70.

Mega Matrix buys $6 million ENA for treasury

Mega Matrix announced in a press release that it has completed a $6 million purchase of ENA tokens.

The company said the move reflects its commitment to a diversified treasury approach focused on stablecoin governance assets, with the Ethena token positioned as a central element of its “DAT Strategy.”

“Following our launch of MPU’s Stablecoin Governance Token Treasury Reserve (DAT) strategy, we have further expanded our holdings of $ENA and will continue executing weekly accumulations based on market conditions, strengthening our commitment to building the premier treasury reserve for stablecoin governance tokens,” Mega Matrix management said in a statement.

According to the announcement, the purchase was executed over several weeks through open-market transactions on major exchanges, allowing Mega Matrix to build its position without disrupting market dynamics.

Mega Matrix said it has acquired a total of 8.46 million ENA tokens at an average purchase price of $0.7165 per token.

The company noted that holding ENA provides potential governance influence along with exposure to staking rewards and protocol fees, aligning with the broader objectives of its DAT strategy to optimise treasury yields in digital asset markets.

ENA price forecast: Why else is Ethena bullish?

With a market capitalization of $4.6 billion, Ethena now ranks among the top 50 cryptocurrencies.

Backed by endorsements from established entities, the token is drawing attention similar to other leading altcoins such as BNB, XRP and Solana — a trend that could support further adoption of Ethena and similar projects.

Other than the crypto treasury bets spree, Ethena’s bullish outlook stems from several interlocking factors, including a leading role in the stablecoin market.

Ethena’s USDe stablecoin has surged to more than $14 billion in circulating supply, underscoring strong demand from investors seeking dollar-denominated returns via DeFi strategies such as delta-hedging and staking.

Broader market dynamics, including improving regulatory clarity and ETF approvals, are also contributing to the bullish outlook.

At the same time, Ethena’s open-market ENA buybacks and whale accumulations are reinforcing sentiment.

With momentum building, analysts see scope for ENA to approach the $1 mark in the coming weeks as bulls regain control.

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Dogecoin and XRP ETFs draw massive volume on first day of trading

  • New US ETFs for Dogecoin and XRP debut with $54.7M trading volume.

  • XRP ETF leads with $37.7M, biggest day-one of any 2025 ETF launch.

  • Dogecoin ETF hits $17M, far above initial forecasts of $2.5M.

The first US-listed exchange-traded funds tied to Dogecoin and XRP debuted Thursday with far heavier demand than expected, posting a combined $54.7 million in trading volume.

Bloomberg ETF analyst Eric Balchunas noted that most new ETFs average about $1 million in first-day activity.

“No slouch,” he wrote on X, calling the funds’ debut “a good sign for the onslaught” of pending crypto ETFs awaiting regulatory approval.

Issuers have submitted multiple applications for crypto ETFs, including those linked to speculative altcoins and products incorporating mechanisms such as staking.

XRP ETF posts record opening

The REX-Osprey XRP ETF (XRPR) saw $37.7 million in volume, according to Cboe data, marking the biggest first day for any ETF launch in 2025.

Within its first 90 minutes of trading, XRPR had already taken in $24 million.

“That is way more than I would have thought,” Balchunas said, noting it was five times higher than the debut volume of XRP futures ETFs.

Dogecoin ETF beats forecasts

The REX-Osprey DOGE ETF (DOJE) also surprised, finishing the session with $17 million in trades.

Balchunas had initially expected only $2.5 million in volume, a level he said would have been “respectable but nothing too special.”

Instead, DOJE’s performance put it among the top five ETF debuts of more than 700 launches this year.

Regulatory structure and outlook

Both funds were launched under the Investment Company Act of 1940, rather than the Securities Act of 1933, used by last year’s Bitcoin and Ether ETFs.

The “40 Act” framework allows for faster approval — 75 days compared to 240 — but imposes restrictions on holdings.

XRPR and DOJE do not directly own crypto.

Instead, they invest in a Cayman Islands subsidiary that holds digital assets, along with stakes in European and Canadian exchange-traded products that track the coins’ prices.

The strong start comes as issuers await approval for dozens of other crypto ETFs, including altcoin-focused products and funds tied to staking.

The Securities and Exchange Commission this week approved new ETF listing standards that could accelerate the pipeline.

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XRP price outlook as REX-Osprey XRPR ETF notches $37.7m in day one volume

  • XRP price jumped amid the REX-Osprey ETF launch before falling slightly.
  • Analysts have noted the impressive $37.7 million volume as a potential signal for more gains.
  • If the upside momentum holds, XRP could eye the $5 to $10 range next.

The cryptocurrency market witnessed a significant milestone on September 18, 2025, as the REX-Osprey XRPR ETF, the first US-listed spot ETF for XRP, debuted with an impressive $37.7 million in trading volume.

This development has sparked renewed interest among investors and analysts, raising questions about the future trajectory of XRP’s price amid growing institutional adoption.

XRP price rose slightly amid the launch, jumping to highs of $3.13 before paring gains to around $3.02.

REX-Osprey XRP ETF hits $37.7 million in volume

The launch of the REX-Osprey XRPR ETF marked a historic moment for the cryptocurrency sector, offering investors regulated exposure to XRP through a traditional exchange-traded fund structure.

According to data shared by Eric Balchunas, a prominent ETF analyst, the XRPR ETF recorded a staggering $37.7 million in turnover on its first day of trading.

It’s a mark that surpasses the debut performance of the $IVES ETF and sets a new benchmark for 2025 ETF launches.

Balchunas’ shared data reflects a volume of 1,462,622 shares traded at a last price of $25.728.

The strong initial performance outpaced the $17 million debut of the REX-Osprey DOJE ETF for Dogecoin, signalling robust demand for XRP exposure within the regulated investment landscape.

Balchunas noted that this success bodes well for the anticipated wave of 33 Act ETFs, suggesting a potential shift toward mainstream acceptance of altcoin-based financial products.

Ripple price prediction: is XRP about to explode?

The impressive debut of the XRPR ETF has fueled optimistic sentiments across the XRP community, with many speculating that this could be a catalyst for a significant price surge.

Analysts and enthusiasts have pointed to the ETF’s $37.7 million volume as evidence of growing institutional interest, which could drive substantial inflows in the coming months.

Some predict that if XRP sustains its current support levels around $3.00, the price could climb toward $5 or higher.

In particular, ETF-related buying pressure could intensify when the SEC gives a nod to the many “Act 33” filings before it.

From a technical perspective, the Ripple token’s price hovers within a key support zone between $2.75 and $3.12.

A breakout from a descending channel means XRP keeps its bullish outlook, with the RSI and MACD on the daily chart offering an upper hand to bulls.

If the upside momentum holds, XRP could eye the $5 to $10 range next.

ETF momentum and Ripple’s expansion in global payment networks, including with RLUSD, will be key.

Regulatory developments and macroeconomic conditions, such as if the Fed cut interest rates further in 2025, will buoy bulls.

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Bitcoin price forecast: BTC eyes $120k despite slight resistance

Key takeaways

  • BTC is down by less than 1% in the last 24 hours and trading around $117k.
  • The coin could target the $120k psychological level next, following a recent bullish momentum

Fed rate cut pushes BTC above $117k as bullish trend resumes

The cryptocurrency market performed excellently this week, with Bitcoin bouncing back from its Monday low of $114k to trade above $117k. The positive performance was due to macroeconomic factors, especially the Fed rate cut on Wednesday.

The rate cut allowed Bitcoin to hit the $117k level, with bulls now targeting another high around $120k in the near term. Analysts believe that the rate cut will push liquidity into the crypto market.

In an email with Coinjournal, Sergei Gorev, Head of Risk at YouHodler, stated that the Fed’s rate cut is quite an important factor for the market. 

“This is a positive development for the financial and crypto markets. Cheaper money pushes the quotes higher and higher. As long as liquidity prevails in the markets, the cryptocurrency market will feel quite confident. We will soon see new historical quotes for BTC, which will also support other coins. In addition, the approval of all new altcoin ETFs will also boost inflows into some cryptocurrencies soon.”

Bitcoin bulls target $120,000

The BTC/USD 4-hour chart is bullish and efficient after Bitcoin’s price surged past its 50-day Exponential Moving Average (EMA) on September 10. It found support around the $116k level earlier this week before rallying past the $117k on Wednesday. 

BTC has been consolidating around $117k over the past 24 hours, but could be set to rally higher in the near term. The RSI of 57 shows that the bulls are still in control, with the Moving Average Convergence (MACD) indicator on the same chart displaying a bullish crossover since September 6th. 

BTC/USD 4H Chart

If the bullish trend continues, BTC could extend its current rally towards the psychological level of $120,000. An extended bullish run would allow it to hit the $125k mark and set a new all-time high in the process. 

However, if the market corrects and closes below the $116k support level, BTC could face selling pressure and extend its decline towards the next major support and TLQ zone at $113,924.

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Aster token pumps more than 500% post-TGE launch

  • ASTER token soars 550% to $0.52 post-TGE.
  • Total value locked catapulted to $1 billion, doubling pre-launch figures.
  • Aster’s debut bolsters BNB Chain’s ecosystem, boosting the BNB price.

The Aster ($ASTER) token’s debut saw it hit $0.58, rocketing by more than 500% within hours.

Aster then slightly pared the gains as traders looked for profits post-TGE and airdrop distribution for the YZi Labs-backed protocol.

Altcoins such as Lagrange, EigenLayer and BNB have outshone the broader market.

Launching at an initial price of approximately $0.08, the token swiftly ascended to a peak of $0.52.

It is a move that encompassed a staggering 550% gain in its first trading session and saw ASTER’s market capitalization rally past the $800 million threshold.

On debut, Aster rose to rank among the top 150 cryptocurrencies by market cap.

As the token’s price pumped, daily volume rose to over $420 million in the initial 24 hours, up 1800%.

While the 500% climb validates Aster’s utility in perpetual trading, bulls have to be aware of a potential sharp pullback if price overextends into the overbought territory.

Aster TVL jumps to $1 billion

Aster’s total value locked has exceeded expectations, surging to over $1 billion within days of the TGE in a milestone that represents a more than twofold increase from pre-launch figures of around $400 million, attracting over 330,000 new wallets and solidifying Aster’s position as the second-largest perpetual DEX globally.

The influx highlights the platform’s multi-chain prowess, spanning BNB Chain, Ethereum, Solana, and Arbitrum, where users leverage unique collateral options like liquid-staking as BNB and yield-bearing USDF stablecoins.

Privacy-focused innovations, such as zk-proofs have drawn sophisticated traders seeking capital efficiency without custodial risks whereas Aster’s integration with PancakeSwap has boosted ecosystem liquidity, contributing to a 15% uptick in BNB’s price over the past week.

Market observers note that this $1 billion TVL not only enhances on-chain stability but also positions Aster to capture a slice of the $16 billion Hyperliquid pie, potentially driving annual revenues toward $500 million through fee structures that reward $ASTER holders.

A significant first step for $ASTER on BNB Chain

For $ASTER, this TGE marks a transformative debut on BNB Chain, laying the groundwork for broader DeFi adoption.

As a high-performance Layer-1 with privacy at its core, Aster Chain empowers seamless perpetuals and spot trading, democratizing access for both novice and pro users via intuitive Simple and Pro modes.

The platform’s non-custodial ethos, coupled with governance via $ASTER enables fee discounts and protocol upgrades.

Implementation of this feature aligns with the community-first principles that propelled BNB Chain’s growth to over $16 billion in TVL.

This milestone extends beyond numbers as it validates BNB Chain’s edge in low-fee, high-throughput environments, especially as altcoin rotations favor derivatives amid Bitcoin’s stabilization above $117k.

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