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

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

    Ethena (ENA) rallies 16% as $8B TVL sparks bullish momentum

    • 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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  • Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    • Bitcoin ETFs saw a $751 million net outflow in August, a first-ever event.
    • Ethereum ETFs absorbed a massive $3.9 billion in net inflows in August.
    • BTC’s price has fallen below key short-term holder cost basis levels.

    A stunning and unprecedented reversal has rattled the very foundations of the cryptocurrency market.

    For the first time since their celebrated launch, the institutional tide that carried Bitcoin to a record high has turned, with spot ETFs bleeding hundreds of millions of dollars in August.

    At the same time, a powerful and quiet current of capital has been flowing into Ethereum, signaling a potential changing of the guard and the beginning of a major rotation story that could define the rest of the year.

    The scale of the divergence is stark. In August, just weeks after they powered the asset to a 124,000 dollar all-time high, Bitcoin spot funds shed a staggering 751 million dollars in net outflows.

    In that same period, Ethereum ETFs quietly absorbed an incredible 3.9 billion dollars, a profound role reversal that suggests institutional investors may be fundamentally rebalancing their crypto exposure.

    Bitcoin’s fragile foundation

    The pain for Bitcoin is not just in the ETF flow data; it’s etched into the blockchain itself. A recent report from the analytics firm Glassnode paints a picture of a market slipping from euphoria into deep fragility.

    The analysis shows Bitcoin’s price has fallen below the cost basis of both 1-month and 3-month holders, a critical development that leaves a huge cohort of recent investors underwater and dramatically increases the risk of a deeper, panic-driven sell-off.

    If the price continues to slide below the six-month cost basis near 107,000 dollars, Glassnode warns, it could accelerate losses toward the crucial 93,000 to 95,000 dollar support zone, a dense cluster of accumulation by long-term holders.

    Prediction markets are echoing this cautious sentiment.

    Traders on Polymarket now assign a 65 percent chance that Bitcoin revisits 100,000 dollars before it retakes 130,000 dollars, a clear sign that the July rally is now seen as overextended and unsustainable without a renewed wave of institutional demand.

    Ethereum: the quiet ballast

    While Bitcoin falters, Ethereum is emerging as a quiet and powerful source of stability. Its ETF inflows have been remarkably consistent, logging positive net subscriptions in 10 of the last 12 months.

    August’s 3.9 billion dollar haul has been the engine behind the token’s impressive 25 percent gain over the past 30 days, a stunning outperformance during a brutal market-wide correction.

    The conviction behind Ethereum’s rise is firm. Polymarket traders see over 90 percent odds of the asset holding above 3,800 dollars into early September, and longer-term bets give it a 71 percent chance of finishing 2025 above the coveted 5,000 dollar mark.

    As Bitcoin’s institutional tide flows out, Ethereum’s steadier bid is becoming the market’s new anchor. The great rotation may be in its early stages, but the signs are unmistakable.

    A new power dynamic is taking shape, and the battle for crypto’s throne is just beginning.

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  • SUI price sees 15% gain, but are bulls out of the woods yet?

    SUI price sees 15% gain, but are bulls out of the woods yet?

    Sui Price

    • SUI price surged 15% to $2.91, rebounding from a weekly low of $2.29.
    • Gains align with a broader crypto market recovery driven by improved investor sentiment and easing geopolitical tensions.
    • SUI could break above $3 and potentially eye a new peak, or dip to support near $2.

    The SUI token, native to the Sui layer-1 blockchain, has soared by more than 15% in the past 24 hours, with gains to highs of $2.91 coming amid a lift in crypto market sentiment.

    Notably, Sui’s uptick halts a month-long decline that pushed the token from highs of $3.80 to its lowest levels since April. But as the broader market sentiment improves, SUI’s rebound has investors in an optimistic mood as bulls target further gains.

    However, with key resistance levels looming, the question remains whether this surge signals a lasting bullish trend or a bull trap.

    Sui price jumps 15% amid crypto bounce

    After enduring weeks of downward pressure, SUI has rebounded sharply, trading to an intraday high of $2.91 on Tuesday. At the time of writing, the altcoin’s price was at $2.79.

    The double-digit gains align with the uptick in prices for the broader cryptocurrency market, with easing geopolitical tensions and Fed chair Jerome Powell’s remarks adding to investor confidence.

    Sui price also gained as OKX Wallet teamed up with Navi Protocol and Momentum to “bring BTCfi to life” on Sui. The community can take part for a chance to grab a share of $2.5 million in rewards.

    The SUI token thus gained as major assets like Bitcoin (BTC) and leading altcoins posted upward moves.

    However, SUI’s double-digit surge stands out as it reflects a bullish impulse amid what appears as a bearish set still. The token remains 20% down over the past month and is well off its all-time peak of $5.35.

    Sui price prediction: Are bulls ready to run?

    The technical picture shows SUI’s price action in a descending channel on the daily chart. Sui also signals a broader descending triangle pattern. This suggests sellers may yet have a say despite the spike from weekly lows of $2.29.

    A look at the charts shows the RSI bouncing off the oversold level, which means room for growth. The MACD indicator also signals a potential bullish crossover, highlighting gains as critical for bulls if they want to take the upper hand.

    In this case, the key hurdles will be around $3.50 and $4.13. Take these out, and bulls could run to the ATH and higher.

    Sui price chart by TradingView

    Conversely, failure to maintain momentum could see SUI retreat to the $2.43 support, where a recent local low formed. If bears breach this level, it might be a bloodbath to the psychological $2 or lower.

    SUI’s 15% surge reflects a broader market recovery and renewed interest in the SUI ecosystem.

    Yet, with critical resistance levels ahead and the threat of bearish pressure lingering, the token’s trajectory remains uncertain.
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  • Analyst shares NOIA price outlook after 168% gain

    Analyst shares NOIA price outlook after 168% gain

    • NOIA is the native token of Syntropy, a distributed routing protocol for the Internet.
    • The token’s price surged 168% from its December lows and one analyst says bulls are likely to aim for more.
    • Sentiment is bullish for Syntropy ahead of its public network launch.

    Cryptocurrencies are looking to end January on a winning note, with most digital assets rocking huge gains in a month that saw Bitcoin break above $23,000.

    On 31 July, the total crypto market capitalization was above $1 trillion, helped by Bitcoin’s market cap rising to $446 billion to account for a market dominance of 40.9%. A similar upside trend has been observed across altcoins, led by Ethereum’s breakout from lows of $1,200 at the beginning of the month.

    Analyst says NOIA could do another 2x

    Perhaps notable is the bullish sentiment for Syntropy that has been increasing since the team updated the token’s circulating supply schedule and as the platform edges closer to its public launch.

    While tokens like Aptos and dYdX continue to outperform, crypto analyst Rekt Capital is pointing to one other coin that could benefit from the recent bull run.

    According to the crypto trader, Syntropy (NOIA) is likely to do a 2x if it holds a crucial price level on the monthly close. In a tweet early Tuesday, the highly respected analyst noted that NOIA’s 168% rally from its lows in December has the Syntropy token at a crucial area.

    “NOIA enjoyed a +168% rally from December’s lows & is now approaching a crucial area. If NOIA is able to turn the green box top (~$0.068) into support on Monthly Close, Syntropy could be well-positioned for another 2x rally,” he suggested.

    Syntropy (NOIA) price prediction chart. Source: Rekt Capital on Twitter.If bulls hold the highlighted price zone ($0.068), Rekt Capital sees a 135% or more rally towards $0.15. That could open up the NOIA price for a potential retest of its all-time high price near $0.20. However, a negative flip could see bears push for $0.030 or even target $0.020.

    The Syntropy token was changing hands around $0.065 early afternoon on Tuesday, up 2.3% in the past 24 hours and 32% higher this past week.

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  • DOGECOIN | Dogecoin posted a weekly gain of 12%

    DOGECOIN | Dogecoin posted a weekly gain of 12%

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  • SHIB 8% Gain Bigger Than TWTR’s As Elon Musk Set For Twitter Takeover

    SHIB 8% Gain Bigger Than TWTR’s As Elon Musk Set For Twitter Takeover

    Shiba Inu managed to finally be on the green across its short-term price charts as SHIB gets exposed to a number of positive stimuli over the last few days.

    The cryptocurrency reacted positively to the news of Elon Musk’s upcoming takeover of social media giant Twitter, increasing the price of SHIB by over 8% just moments after the development was announced.

    The meme crypto, however, experienced a slight price correction according to latest tracking from Coingecko. At press time, SHIB is changing hands at $0.00001087.

    It is still up by 10.1% over the last seven days and by 6.8% for the past two weeks. SHIB also managed to slash its 30-day losses to just 2.2%.

    The altcoin performed decently over the last couple of days that it actually managed to surpass Twitter’s stock (TWTR) in terms 24-hour gains.

    TWTR settled at $53.35 on Thursday. It was slightly higher than its $52.78 closing value a day before.

    Elon Musk has until Friday to finalize his $44 billion acquisition of Twitter.

    Image: ABC News

    SHIB Continues To Ride Dogecoin Momentum?

    In the past, it has become evident that Shiba Inu benefited whenever the original dog-themed cryptocurrency Dogecoin is having a good run.

    This was once again proven on October 26 when the crypto market witnessed a relatively strong surge that pushed Bitcoin and Ethereum above crucial price levels.

    DOGE managed to increase by 28.2% over the last week as it is currently trading at $0.075. With this, the digital asset pumped its market capitalization by over $2 billion. SHIB replicated this action as it also pushed its overall valuation to $6.407 billion.

    Among crypto assets belonging to the top 20 list of Coingecko, Dogecoin and Shiba Inu were two altcoins that tallied the highest gains over a seven-day time period.

    Whale Activity Observed Following Musk’s Twitter Move

    Meanwhile, Dogecoin whales became active following the development involving the tech billionaire Musk and Twitter. In fact, there were 85 transactions with value of at least $100,000 that was recorded after the news broke out.

    This might be an indication that investors are hopeful that DOGE will be able to duplicate its impressive run last year.

    On the other hand, SHIB is just trying to capitalize on every positive development that could trigger price rallies, no matter how small they are.

    The meme coin continues to deal with problems like high supply inflation and lack of utility – two factors that negatively impact its price direction.

    Its recent surge might help fend off an impending doom as some analysts believe the crypto might “die” by the end of next year.

    SHIB total market cap at $6 billion on the daily chart | Featured image from EyeEm, Chart: TradingView.com

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