Schlagwort: crypto business

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Ethena (ENA) eyes 50% rally as whale activity, transactions and users surge

  • Soaring transactions and active addresses signal growing demand.
  • Accumulation by Whales hints at massive price moves on the horizon.
  • ENA eyes significant rallies to the resistance at $1.20.

Cryptocurrencies trade in the green on Friday, fueled by optimism of rate cuts after the latest inflation statistics.

The market cap has reclaimed the $4 trillion mark as large-cap altcoins like Solana steal the show with steady gains.

Meanwhile, this article evaluates the Ethena ecosystem, which has remained on the community’s radar lately due to its thriving USDe synthetic stablecoin.

While Ethena’s native token lags amid broader rallies, fundamentals and technical indicators suggest a massive rally on the horizon.

ENA trades at $0.7722 after a 0.67% dip in the past day, but rising active addresses, whale activity, and transaction volume position the token for impressive rebounds.

Bulls will target the crucial resistance at $1.20, which would mean an approximately 54% surge from ENA’s market price.

Let’s analyze supporting factors.

On-chain data paints a bullish picture for ENA

Crypto analyst and trader Ali Martinez has highlighted Ethena’s flourishing ecosystem, with active addresses, transaction volume, and whale activity on uptrends.

The chart reflects significant network engagement over the past month.

Such developments reflect increased activity from users moving digital assets, transacting, and interacting with decentralized applications (dApps).

That confirms a healthy and growing ecosystem.

Most importantly, whales have also re-entered.

Ethena has seen wallet growth and significant inflows, indicating institutional repositioning ahead of potential ENA rallies.

Ethena’s stablecoin initiative has contributed to the enhanced interest from institutions.

For instance, Mega Matrix filed $2 billion shelf registration for a USDe strategy last week.

The synthetic stablecoin has gained traction due to its yield-bearing model, which distinguishes it from the established USDT and USDC.

USDe ranks 3rd in stablecoin rankings, behind USTD and Circle’s USDC, with its $13.2 billion market cap confirming impressive growth since its February 2024 launch.

ENA price outlook

Ethena’s native token trades at $0.7720 after slight declines over the past day.

Analysts attribute the downside, which coincides with broader rallies, to the project exiting the Hyperliquid stablecoin USDH race.

While the faded trading volumes signal weakness, Ethena exhibits a healthy ecosystem that can support significant rebounds and rallies.

A bullish resurgence would see ENA targeting the foothold at $0.90. That could support stability above the psychological mark at $1.

Ethena will extend toward the key resistance between $1.20 and $1.30 amid continued gains.

That would mean an over 50% uptick from ENA’s current market price.

However, the Fed decision next week will set the market tone and influence Ethena’s short-term performance.

Crypto trader and investor Smith predicts a massive rally for ENA, citing the weekly chart.

He believes a decisive breakout amid an altseason would take the token’s price to $7.

Also, BitMEX co-founder Arthur Hayes has remained confident in Ethena, testifying to that with consistent purchases and bold predictions.

Hayes anticipates a 51x growth for ENA by 2028.

The post Ethena (ENA) eyes 50% rally as whale activity, transactions and users surge appeared first on CoinJournal.

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Solana price prediction: SOL targets $250 as it outperforms the broader market

Key takeaways

  • SOL is approaching $240 after adding 7.5% to its value.
  • The cryptocurrency is now targeting the $250 psychological level.

SOL outperforms other major cryptos, approaches $240

SOL, the native coin of the Solana blockchain, is the best performer among the top 10 cryptocurrencies by market cap in the last 24 hours. The coin has added 7.5% to its value in the last 24 hours and is now trading at $238.8 per coin.

The positive performance comes as Bitcoin and other leading cryptocurrencies recorded strong gains this week. Bitcoin briefly dropped below $114k on Thursday following the CPI news, but has now bounced back to hit the $116k level.

Ether, the second-largest cryptocurrency by market cap, has also reclaimed the $4,500 mark, while XRP is trading above $3 once again.

With XRP now approaching $240, the coin could extend its gains over the next few hours. It is up by 15% since the start of the week, only behind Dogecoin in terms of performance. 

SOL eyes the $250 psychological level

The SOL/USD 4-hour chart has flipped bullish thanks to Solana’s rally over the last few days. The technical indicators are also bullish, suggesting that buyers are currently in control of the market.

The RSI of 74 shows that SOL is heading into the overbought territory if the trend continues, with the MACD lines also within the positive region. 

SOL/USD 4H Chart

If the rally continues, SOL could hit the $250 psychological level soon, with a minor resistance at $243. An extended bullish run would bring its all-time high price of $294 into play over the coming days or weeks.

However, the market could face a correction following days of positive performances. If that happens, SOL could retest the ILQ and support level at $220 in the near term. Failure to defend this level could see SOL to the weekly low of $211.

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Ether holds in tight range as accumulation data suggests long-term support

  • ETH holds $4.2K–$4.5K range as $7.5B accumulation signals long-term support.
  • Institutional open interest hits records, boosting confidence in ETH outlook.
  • Key $4.5K resistance may trigger rally, while $4K–$4.1K offers downside support.

Ether (ETH) is trading in a narrow band between $4,200 and $4,500 this month, showing signs of fading momentum even as underlying on-chain data suggests stronger structural demand.

While short-term traders remain cautious about potential weakness, accumulation patterns, exchange flows, and institutional positioning paint a more nuanced picture of Ethereum’s market trajectory.

Accumulation trends around $4,300–$4,400

Data from blockchain analytics firm CryptoQuant highlights a key accumulation zone between $4,300 and $4,400.

Roughly 1.7 million ETH, worth around $7.5 billion, has been absorbed into long-term accumulation addresses at these levels.

Much of this activity has been linked to withdrawals from centralized exchanges, which reflects an average cost basis near $4,300.

This cluster of buying interest establishes a significant support region that could serve as a cushion if Ether revisits lower levels.

Analysts suggest that the ability of ETH to hold above this range may determine whether the current consolidation turns into a springboard for a rally or a deeper correction.

Binance, the world’s largest exchange by volume, has been central to this dynamic, handling the largest outflows during the accumulation phase.

Interestingly, addresses that deposited ETH onto Binance show a markedly lower average cost basis, closer to $3,150.

This divergence highlights contrasting strategies between longer-term holders accumulating at higher levels and shorter-term traders potentially seeking profits at lower entry points.

Institutional participation and derivatives market activity

Institutional flows are also shaping Ether’s outlook.

Open interest on the Chicago Mercantile Exchange (CME) has climbed to record highs, with a heavy concentration in short-term maturities spanning one to three months.

While this concentration increases the likelihood of volatility around contract expirations, it also signals rising institutional engagement.

Notably, longer-term maturities of three to six months are also building, which analysts interpret as a sign of confidence in Ethereum’s broader trajectory.

Crypto market analyst Pelin Ay emphasized that institutional demand and positioning in derivatives markets could support further upside.

While liquidation risks remain elevated, Ay suggested ETH may still target the $6,800 resistance level before the end of the year.

Technical levels and market sentiment

From a technical perspective, Ether has largely ranged between $4,200 and $4,500 in September, underperforming peers such as Bitcoin and Solana, which have recently notched higher highs.

This divergence suggests a temporary rotation of capital into other major crypto assets.

Still, the $4,500 level is seen as a crucial inflection point.

A decisive break above this threshold could restore momentum and trigger a stronger upside move.

On the downside, risks of a liquidity sweep remain, with support zones identified around $4,200 and an order block near $4,000–$4,100.

Market sentiment remains divided. Crypto trader Merlijn pointed to monthly indicators turning more constructive, including a MACD flip to green after years of consolidation.

According to Merlijn, this technical signal suggests Ethereum is “coiled and ready to detonate,” adding that clearing the $4,500 level could trigger a parabolic rally.

As Ethereum approaches the final quarter of the year, the balance between weakening short-term momentum and deepening structural support may determine whether it breaks higher or retests key demand zones.

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Solana price hits 7-month high, outlook points at $250

  • Institutional demand and ETF momentum fuel Solana’s rally.
  • Network upgrades have boosted speed, efficiency, and DeFi growth.
  • Key test ahead as SOL eyes breakout above $245–$250.

The Solana price has surged to a seven-month high, extending its lead as one of the best performers in the digital currency market this year.

The token, which recently climbed past $225, has outpaced broader crypto benchmarks as investors, institutions, and traders rally behind what many see as a pivotal stage for the blockchain’s growth.

With momentum building from technical, institutional, and macroeconomic factors, Solana’s near-term outlook is now tilting towards a test of $250.

Solana price analysis

Solana’s recovery from earlier support around $200 has turned into a sustained rally, fueled by higher highs and steady trendline support.

Notably, there is an ascending triangle formation that often precedes sharp breakouts, with resistance zones emerging between $245 and $280.

Solana price analysis

A clean push above these levels would put Solana in striking distance of its January all-time high near $293.

Technical indicators remain bullish, with the Relative Strength Index (RSI) hovering at manageable levels despite recent gains, while the MACD has flashed a golden cross that signals further upward momentum.

As long as $200 holds as a solid floor, Solana’s chart continues to favour the bulls.

Solana institutional interest rises

Solana’s futures open interest on the CME reached a record $1.49 billion on September 9, underscoring the role that large investors are playing in driving demand.

Additionally, the launch of the first US Solana staking ETF has deepened the trend, adding legitimacy to Solana’s position within regulated markets.

Fresh developments on Wall Street have amplified the story, with Nasdaq recently welcoming the listing of SOL Strategies (ticker STKE), the first Solana-focused treasury company, which currently holds about $90 million worth of the token.

The listing is seen as a milestone for institutional validation, echoing the trajectory Bitcoin followed with ETFs.

At the same time, other firms such as Upexi and DeFi Development Corp. have accumulated hundreds of millions in Solana (SOL) this year, while Forward Industries announced a $1.65 billion raise with plans to anchor a large Solana treasury.

Solana network gets faster

The Solana blockchain itself is also undergoing meaningful upgrades.

For instance, the recent Alpenglow consensus upgrade has reduced transaction finality to just 150 milliseconds, while recent capacity increases have boosted throughput by two-thirds.

These changes address previous bottlenecks and enhance Solana’s appeal as a high-performance Layer 1 network.

In addition, although memecoins still dominate fee generation, Solana’s total value locked in DeFi has reached $13 billion, rising sharply over the third quarter.

Solana price forecast

The short-term Solana price outlook is centred on whether Solana can close above the $245 to $250 zone.

A decisive breakout would strengthen the case for an extension toward $280, with higher targets of $300 to $350 possible if momentum continues.

Macroeconomic conditions could provide the additional fuel needed for the rise to $280, markets pricing in US interest rate cuts before the year’s end, a shift that often benefits risk assets like cryptocurrencies.

If ETF approvals materialise in the coming months, Solana’s relatively smaller market size compared to Bitcoin and Ethereum means that even moderate inflows could have an outsized effect on its price.

However, a pullback toward $200 remains a risk if profit-taking sets in, especially given the token’s strong 90-day run of more than 55%.

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Coinbase-backed petition pushes UK on blockchain and stablecoin policy

  • Coinbase backs UK petition urging stablecoin rules and blockchain adoption.
  • Petition tops 5K signatures; 10K triggers government reply, 100K a debate.
  • Supporters warn UK risks falling behind without clear crypto strategy.

A public petition urging the United Kingdom to adopt a pro-innovation strategy for blockchain and stablecoins has gathered momentum after crypto exchange Coinbase rallied its users to support the initiative.

The petition, which has been live on the UK government’s website since July, calls for a comprehensive framework covering stablecoin regulation, blockchain adoption, and the appointment of a blockchain “czar.”

While it initially gained little attention, interest accelerated this week after Coinbase issued in-app messages encouraging users to sign.

Screenshots shared on social media showed notifications from the exchange urging customers to “help UK lead stablecoin innovation now.”

At the time of writing, the petition had surpassed 5,000 signatures.

Once it reaches 10,000 signatures, the government is required to issue a formal response.

If the total climbs to 100,000 signatures, the proposal will be considered for parliamentary debate.

The petition remains open until March 3, 2026.

Calls for regulatory clarity and innovation

The proposal outlines three specific demands: establishing a framework for stablecoins and tokenization, promoting blockchain adoption across government functions, and designating a senior official dedicated to overseeing crypto policy.

Supporters of the petition argue that stablecoins form the foundation of a tokenized economy and that regulatory clarity is essential for the UK to remain competitive.

The petition highlights that the United States has ruled out a central bank digital currency (CBDC) in favor of stablecoins, suggesting that the UK risks falling behind without a clear strategy.

“This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing,” the petition states.

Advocates warn that without timely action, the UK may lose its edge to other jurisdictions pursuing more aggressive digital asset strategies.

Coinbase’s role in shaping UK crypto policy

Coinbase has been vocal in its campaign for clearer digital asset regulation in the UK.

In recent months, the exchange has stepped up efforts to influence public debate and policymaking.

On July 31, Coinbase released a satirical video titled “Everything is Fine.”

The video contrasted upbeat lyrics celebrating Britain’s financial system with visuals of inflation, poverty, and economic challenges, a pointed critique of the status quo.

Just days later, on August 5, former UK Chancellor and current Coinbase adviser George Osborne published an opinion piece in the Financial Times.

In the article, Osborne warned that the UK is falling behind in the global digital asset race and singled out stablecoins as an area where the country has ceded ground.

Coinbase’s support for the petition reflects its broader strategy of pressing for regulatory clarity and fostering a more favorable operating environment for digital assets in the UK.

With the petition already halfway to the government’s response threshold, the initiative underscores growing pressure on policymakers to provide direction on stablecoins and blockchain innovation.

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