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  • POL price outlook as Polygon implements key bug fix

    POL price outlook as Polygon implements key bug fix

    Image Of Polygon Token POL

    Polygon’s token POL is up 1.6% as bulls try to break higher following a recent drop amid the proof-of-stake network’s node software bug that introduced a 10-15 minute delay in transaction finality.

    But with the platform implementing an important fix, could the retest of the $0.275 area allow bulls to once again dominate?

    The POL token’s jump to above $0.27 means the Polygon price is hovering near a key level above which buyers have previously rallied to $0.71.

    Polygon rolls out key bug fix

    On September 10, 2025, Polygon’s network announced its team had successfully implemented a fix to a bug that saw a node software malfunction cause a transaction finality delay.

    While this briefly disrupted the decentralized applications (dApps) and remote procedure call (RPC) services, developers swiftly deployed a hard fork and software updates that have resolved the issue.

    Specifically, the disruption stemmed from a bug in the Bor and Erigon node configurations, which impeded validator synchronization and milestone processing.

    “We identified the cause of the finality issue and have rolled out v2.2.11-beta2 for Bor and v0.3.1 for Heimdall, the latter a hardfork to be implemented at 3PM UTC,” Polygon wrote.

    Node restarts resolved issues for most validators and RPC providers, with the network achieving full consensus restoration shortly thereafter.

    An update later provided more details:

    “The hard fork has been successfully completed, and milestones are now processing normally along with state sync. Checkpoints are going through and consensus finalization has been fully restored on Polygon PoS.”

    Polygon co-founder Sandeep Nailwal commented on the incident, emphasizing that this setback is part of the “growing pains” for the network.

    The price of POL reacted negatively to the initial announcement, but looks set for a steady rebound alongside other top coins. On the bug fix and upgrade issues, Nailwal noted:

    “The team is still monitoring the network closely and is investigating how this scenario occurred in the first place. I’m extremely grateful to our team of engineers for quickly identifying and resolving this issue, and for the patience and understanding of our community.”

    POL price outlook

    Sentiment across crypto presents a bullish outlook for tokens, but as seen in recent weeks, POL’s structure remains largely bearish.

    After a breakout to the upper limit of an ascending channel on the daily chart, the token has dipped to leave buyers battling pressure below the $0.30 area.

    POL price chart by TradingView

    Technical indicators such as the RSI at 55 suggests room for bulls to grow. However, the MACD presents a mixed signal with a hint of a bearish crossover.

    If upside momentum holds, POL price could target $0.54. Conversely, a dip below the $0.25 level could escalate the downturn to $0.20 and lower.

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  • LAUNCHCOIN price pump leads to $4m loss for crypto trading firm

    LAUNCHCOIN price pump leads to $4m loss for crypto trading firm

    • Launch Coin on Believe price rose suddenly, jumping 60% to highs of $0.118.
    • Gains saw a surge in liquidations, with crypto trading firm.

    Launch Coin on Believe (LAUNCHCOIN) price surged nearly 60% in early trading on Tuesday, with the altcoin’s sudden pump leading to significant losses for shorts.

    The token’s rapid price increase also triggered a cascade of liquidations, with on-chain data showing a liquidity provider suffered losses of over $4 million.

    Launch Coin on Believe price sees sudden 60% pump

    Cryptocurrencies like Worldcoin and MYX Finance are riding bullish news to top gainers charts over the past 24 hours. Meanwhile, small cap token LAUNCHCOIN is also attracting social chatter.

    As noted, the Launch Coin on Believe price experienced a sharp price surge amid a nearly 60%  spike. Trading around $0.076 in early deals during the Asian session, LAUNCHCOIN suddenly pumped to $0.132.

    LAUNCHCOIN chart by TradingView

    This sudden jump accounted for a 60% rise that hit many traders betting on a continued consolidation or downturn.

    With intense buying pressure, driven by speculative trading and potential market manipulation, LAUNCHCOIN saw its daily trading volume skyrocket.

    According to CoinGecko, the rapid ascent pushed volume on centralized crypto exchanges such as LBank and Bitget 540% up, and stood around $255 million in 24 hours.

    The more than fourfold increase in volume from the day before attests to the sharp uptick in market activity.

    $4 million loss amid cascade of liquidations

    While buyers celebrated the meteoric price surge, LAUNCHCOIN’s gains saw a notable market player suffer significant losses.

    According to analytics account Lookonchain, a wallet linked to the market maker GSR suffered one of the biggest losses as the token’s price rose.

    The wallet, shown to have been hedging a short position on LAUNCHCOIN, was fully liquidated. It meant a loss equivalent to $4 million as GRS Market’s other positions saw a cascade of liquidations on decentralized exchange Hyperliquid.

    As liquidation on LAUNCHCOIN’s gains hit the leveraged positions betting against a price increase, other positions too were wiped out. Lookonchain notes GRS Market’s other short positions caught in the carnage included Mantle, Popcat, Chainlink and Lido DAO.

    “The liquidation of #GSRMarkets’ short position triggered a domino effect, wiping out their other shorts on $MNT, $POPCAT, $LINK, and $LDO, and zeroing out the account,” Lookonchain posted.

    LAUNCHCOIN’s price currently hovers around $0.091, slightly off its intraday high. The $0.08 level, above which bulls took charge for the spike, is likely to be critical if price falls further.

    As LAUNCHCOIN looks for a decisive move, analysts say the event highlights how the cryptocurrency trading market can offer opportunity but also be a brutal arena with fortunes shifting in an instant.

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  • Somnia (SOMI) price soars post mainnet launch amid numerous partnerships

    Somnia (SOMI) price soars post mainnet launch amid numerous partnerships

    Mantle Price Bullish

    • Somnia is a SoftBank-backed Improbable’s Layer 1 blockchain network.
    • Somnia’s token price is rallying after 10 billion testnet transactions and the mainnet launch.
    • Somnia has partnered with ZNS Connect for .somnia domains and decentralised identity tools.

    Somnia (SOMI) token has seen a dramatic upswing in value, climbing more than 40% in the past 24 hours and marking a significant step for one of the newest entrants in the blockchain space.

    With strong trading volume and multiple partnerships fueling momentum, SoftBank-backed Improbable’s Layer 1 is emerging as a serious contender in the Web3 arena.

    Why is the price of Somnia cryptocurrency rising?

    Somnia (SOMI) is currently trading around $1.60, with a market cap of more than $260 million.

    At its peak, Somnia touched an all-time high of $1.84, only days after hitting an all-time low of $0.38.

    This sharp swing highlights the intense market activity surrounding the project, amplified by trading volumes that surpassed $898 million within 24 hours.

    Somnia’s surge can be traced back to the successful launch of its mainnet six days ago.

    The mainnet launch came after the network processed more than 10 billion testnet transactions, a figure that signalled both the robustness and scalability of its underlying technology.

    The mainnet launch generated strong market confidence, which quickly translated into a rally in SOMI’s value as investors rushed to secure early positions.

    Beyond the technical milestones, Somnia’s partnerships are also proving to be a strong catalyst for price growth.

    The network recently announced its collaboration with ZNS Connect to create decentralised identity solutions.

    Through this partnership, users can mint .somnia domains, deploy smart contracts, and interact directly on-chain.

    Notably, the integration of identity with utility has added a layer of uniqueness that makes the ecosystem more attractive to both developers and users.

    Another crucial boost came from Somnia’s partnership with TheResidncy, a platform that connects sports fans with their favourite athletes through interactive live events.

    In just six sessions, the collaboration attracted over 121,000 unique fans, peaking at 22,000 concurrent participants and recording 245,000 messages and reactions — all processed fully on-chain via Somnia.

    This not only demonstrated the network’s ability to scale under heavy demand but also introduced a compelling real-world use case that resonates with global audiences.

    Somnia price outlook

    With the token’s price climbing more than 300% from its lows and trading activity showing no signs of slowing, the short-term outlook appears bullish.

    The project has successfully combined market excitement with clear utility, which is often a critical factor in sustaining long-term growth.

    However, as with most emerging cryptocurrencies, volatility remains a key consideration.

    The price is just under its record high, and profit-taking could cause sharp swings in the days ahead.

    Nevertheless, the fundamentals — particularly the network’s capacity to handle large-scale activity and its focus on identity-driven Web3 experiences — provide a strong foundation for continued expansion.

    The back-to-back partnerships are also setting it apart in a crowded market.

    If the platform can maintain its momentum and deliver on its roadmap, the SOMI token may continue to attract investor interest well beyond its post-launch rally.

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  • Myx Finance (MYX) price continues to rise despite insider manipulation fears

    Myx Finance (MYX) price continues to rise despite insider manipulation fears

    Myx Finance (MYX) price continues to rise

    • Myx Finance (MYX) hits $4.20 after a 160% daily surge with record trading volumes.
    • Analysts have flagged token unlocks and whale-driven short squeezes as red flags.
    • The Myx Finance V2 upgrade hype and new exchange listings are fueling the bullish market sentiment.

    The price of Myx Finance’s native token, MYX, has surged to fresh highs, making it one of today’s top gainers in the crypto market.

    The price surge comes as excitement builds around the platform’s forthcoming protocol upgrade, even as traders and analysts voice growing concerns about insider activity and manipulation.

    Myx Finance token price hits new ATH

    MYX climbed as high as $4.20 on September 8, marking a new all-time high and cementing its place among the day’s top gainers.

    MYX Finance price chart

    The rally has been extraordinary in scale, with the token jumping more than 160% in the past 24 hours and over 260% during the last week.

    Notably, the token’s market capitalisation has risen above $520 million, while fully diluted valuation now exceeds $4 billion.

    The trading activity behind the rally has also been notable.

    In a single day, MYX registered more than $328 million in trading volume, a sharp increase compared to earlier in the month.

    The derivatives market has been even more heated, with perpetual futures volumes reported at more than $4 billion and open interest more than doubling, according to data from Coinglass.

    MYX fiannce futures open interest

    Together, these numbers point to speculative traders piling in, pushing leverage and volatility higher.

    Hype builds around Myx Finance’s V2 upgrade

    Part of the optimism stems from the upcoming launch of Myx Finance’s V2 upgrade.

    The new version promises features such as zero-slippage trading, cross-chain support, and a more seamless user experience.

    Supporters argue these improvements could make MYX a stronger rival to established decentralised exchanges.

    Interestingly, the upgrade hype has coincided with fresh listings on larger exchanges, including Binance Alpha, which has boosted liquidity and widened access to the token.

    Reports of institutional wallets accumulating MYX ahead of the update have further fueled confidence.

    This combination of technical improvements and stronger market access has helped sustain bullish momentum, even as critics warn that the price is running ahead of fundamentals.

    Concerns over insider activity

    As the MYX token continues to rise, questions have arisen about the sustainability of the rally as several developments cause concerns.

    One of the issues under scrutiny is the timing of the recent 39 million token unlock that coincided almost perfectly with the price surge, raising questions about whether early holders were using the retail rush to offload holdings.

    In addition, several analysts have flagged red flags that point to manipulation.

    Commentators such as Dominic, a well-followed Web3 analyst, argue that whales deliberately triggered short squeezes to push the price higher and liquidate leveraged positions.

    In support of the concerns raised by Dominic, Coinglass’ liquidations data shows that more than $13.77 million worth of shorts were wiped out in a single day, creating forced buying pressure that exaggerated the rally.

    On-chain data has also shown coordinated buying across exchanges, with multiple small trades funnelled into central wallets — a pattern consistent with wash trading.

    Notably, the current occurrences mirror earlier episodes in the project’s history.

    In August, MYX gained nearly 2,000% before crashing more than 60% in the weeks that followed; a pattern reminiscent of the collapse of Mantra earlier this year, when suspected insider activity triggered a sudden 90% crash in a single hour, erasing billions in value.

    MYX Finance price outlook

    Despite these warnings, not all data points to an imminent collapse.

    Some monitoring groups have noted that whales have not yet engaged in large-scale sell-offs, suggesting they may be content to hold their positions for now.

    This has lessened immediate concerns of a mass exodus, although the risk remains high.

    However, for retail traders, the split in market opinion creates uncertainty.

    On one hand, MYX has real momentum, with an upgrade that could expand its utility and strengthen its position in decentralised finance.

    On the other hand, the heavy reliance on leveraged trading, the suspicious timing of token unlocks, and the echoes of past pump-and-dump activity mean the asset carries significant risks.

    Whether the MYX price surge proves to be a sustainable breakout or a prelude to another steep correction will likely depend on how much of the current momentum is driven by genuine demand — and how much by insiders looking for an exit.

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  • Sui price prediction after SUI Group Holdings’ $332m token grab

    Sui price prediction after SUI Group Holdings’ $332m token grab

    Sui is trading up as bulls continue the uptick seen since SUI Group Holdings’ recent acquisition of 20 million SUI tokens.

    As the company boosted its treasury to over $332 million, Sui prices jumped amid optimism about the future of SUI.

    The altcoin is up from lows of $3.12 this week and could explode as the crypto market eyes a Q4 rebound.

    Sui price surge – key bet by SUI Group Holdings

    Although gains in the past 24 hours and week are below 3%, analysts are bullish about SUI following recent activity.

    The token, which  currently stands at $3.41, with a 24-hour trading volume of $806 million according to CoinMarketCap, also has open interest at $12.19 billion to indicate trader confidence.

    As this happens, the recent purchase of 20 million SUI tokens by SUI Group has added to short term optimism.

    The company’s holdings of 101.8 million tokens are a move that hints at strong confidence in the project’s future.

    “Since the initiation of our SUI treasury strategy in late July, we have expeditiously accumulated over 100 million SUI, underscoring our conviction in the transformative potential of the SUI blockchain and its critical role in the future of decentralized finance,” said Stephen Mackintosh, Chief Investment Officer of SUI Group.

    Accumulation executed through a discounted deal with the Sui Foundation has sparked discussions about a potential price surge, building on the bullish momentum.

    The recent treasury boost is seen as a catalyst, potentially pushing the price toward $4.00 within the next quarter if market conditions remain favorable, which further strengthens SUI’s fundamentals, attracting long-term investors.

    Sui price volatility

    Despite the optimism, the crypto market’s volatility encounters challenges as analysts caution that whale activity, like SUI Group’s, might lead to short-term price swings, with a possible dip to $3.00 if selling pressure mounts.

    Buyers appear willing to step in repeatedly, reinforcing the base if the price finally cracks, with the structure favouring a swift climb as liquidity thins above.

    In this case, the Sui price could explode above $4.00, with targets above $5.00 in the short term.

    Sui chart by TradingView

    However, the SUI Group’s cash reserves  for further acquisitions signal a commitment to growth, potentially stabilizing the token.

    As the crypto community reacts with enthusiasm, with users heaping praise on the treasury strategy move, the main target will be on what this means for the long term price outlook.

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  • RedStone price spikes 55% amid Upbit listing

    RedStone price spikes 55% amid Upbit listing

    RedStone Price

    • RedStone’s price rose 55% as the 24-hour trading volume surged to $418 million.
    • The project’s token soared after Upbit announced trading support for RED.
    • RED price could surge to $1 or find support around $0.50.

    RedStone (RED), a leading decentralised finance oracle infrastructure provider, has experienced a significant price surge of 55% in the past 24 hours.

    While the price increase mirrors the rest of the market’s bounce, RED has surged after Upbit, South Korea’s largest crypto exchange, announced trading support.

    The announcement, made on Sept. 5, ignited excitement among traders and DeFi enthusiasts, pushing RedStone’s price to above $0.78.

    RedStone price jumps 55% as Upbit lists RED

    The price of RedStone skyrocketed to $0.78 on Friday, following its listing on Upbit.

    Other platforms like Bithumb also saw newly-listed tokens explode.

    According to CoinMarketCap, RedStone rose from lows of $0.47 to $0.78, which represents a notable 55% increase within 24 hours.

    This was accompanied by a trading volume of $418 million, which had jumped by over 800% at the time of writing.

    RedStone chart by CoinMarketCap

    The surge comes on the heels of Upbit’s official announcement to support RED/KRW trading, with the market opening at 17:00 KST.

    RedStone’s team, via their X account, celebrated the listing with a post highlighting the availability of RED/KRW on Upbit.

    The post also teased upcoming events in Seoul, including the Korea Blockchain Week (KBW) and side events like the Hyperliquid hackathon and XRP Seoul, signalling the project’s active engagement with the crypto community.

    This move fueled trader confidence in RED, with South Korea a market known for its robust trading activity.

    RedStone price forecast

    RedStone, which provides modular oracle infrastructure for DeFi protocols and secures over $10 billion in assets, aligns with Upbit’s focus on innovative projects, further driving the price jump.

    Recently, RedStone acquired DeFi ratings provider Credora, which will boost the platform’s expansion efforts.

    Commenting on the acquisition, RedStone noted via X:

    “This brings TradFi-grade risk assessment to DeFi. It positions RedStone to play a role in decentralised markets similar to what S&P or Moody’s has long provided in traditional finance, a trusted framework for understanding and pricing risk.”

    The 55% spike also reflects broader market dynamics, with protocols like Compound, Lido, and Pendle also posting gains.

    While the bullish trend is evident, with Bitcoin showing higher lows, September’s historical reputation as a challenging month for assets like BTC could introduce short-term fluctuations.

    Analysts suggest that sustaining the current momentum will depend on RedStone’s ability to leverage Upbit’s platform and deliver on its event promises.

    For now, RED must hold above $0.60 to maintain the upside momentum.

    Conversely, the token’s price could drop to $0.50 or lower.

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  • Bithumb listing sends the price of Euler (EUL) price flying

    Bithumb listing sends the price of Euler (EUL) price flying

    Bithumb lists Euler (EUL)

    • The Euler (EUL) price has surged over 30% after Bithumb confirmed KRW trading.
    • Euler’s TVL hit $1.52B, marking rapid DeFi growth in 2025.
    • Coinbase and Pendle integrations have boosted Euler’s ecosystem momentum.

    Bithumb, South Korea’s second-largest cryptocurrency exchange, has announced that trading for Euler (EUL) will begin today at 5:00 pm Korean Standard Time.

    The news has sent the EUL price surging more than 30% within hours, with intraday fluctuations taking the token from lows of $9.25 to as high as $13.33.

    By press time, the token was hovering around $13.02, still up more than 30.6% from the previous day.

    Euler price chart

    Besides impacting the altcoin’s market price, the listing also fueled an immediate spike in trading activity.

    EUL’s daily volumes jumped nearly 292%, reaching $9.58 million, with a significant portion of the trades taking place on Asian exchanges.

    Notably, this surge in key market metrics has positioned EUL among the day’s top gainers in the global crypto market, drawing attention to a project that had already been gathering momentum throughout 2025.

    Expanding ecosystem and new integrations

    The listing comes at a time when Euler has been expanding its ecosystem with new products and integrations.

    In early August, the token was listed on Coinbase, a move that gave US investors easier access to the protocol.

    Euler also unveiled EulerEarn, a passive yield strategy backed by $50,000 in USDC incentives in August.

    Euler has also introduced isolated ETH markets on Linea, an Ethereum layer-2 network designed to boost scalability and cut transaction costs.

    More recently, it integrated with Pendle, unlocking additional yield opportunities for decentralised finance users.

    Today, the protocol is also celebrating its first anniversary of its V2 upgrade, which included the launch of the Euler Vault Kit, a modular system for creating customised lending markets.

    These developments highlight the project’s ongoing effort to cement its role in a competitive sector.

    According to data from DeFiLlama, Euler’s total value locked has reached $3 billion, a sharp rise from just $100 million at the start of 2024.

    This growth reflects a surge in user adoption and positions the protocol among the more dynamic projects in the decentralised finance sector.

    Revenues and fees collected by the network have also increased more than fivefold this year, according to Token Terminal.

    Euler (EUL) price analysis points to a bullish momentum

    From a technical perspective, Euler’s momentum remains bullish.

    Notably, the sharp price surge pushed EUL above its upper Bollinger Band, a signal of strong market demand but also of potential overextension.

    The Relative Strength Index now stands at 67, just below overbought levels, while moving averages across 10, 20, and 30 days remain aligned in a bullish pattern.

    If the current rally continues, EUL could retest its July peak of $15.81 in the coming weeks.

    However, traders should be cautious of profit-taking, which could drive the token back into the $10.50 to $11.00 range in the near term.

    Euler Finance network growth

    The price rally lifted Euler’s market capitalisation to roughly $242 million, while its fully diluted valuation stood at about $353 million.

    But despite the gains, the token remains nearly 20% below its all-time high of $15.81, reached on July 11.

    According to the market outlook, although the sentiment remains firmly positive, the resistance at the current price level could prove difficult to break in the short term.

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  • Cardano price prediction as retail sentiment flips bearish

    Cardano price prediction as retail sentiment flips bearish

    Cardano Price

    • Cardano price hovers near key support as optimistic crowd flips bearish.
    • Sentiment is at its lowest in five months, but ADA price is holding up.
    • The downswing could allow whales to come in and catalyse fresh gains.

    Cardano (ADA) price has failed to break above the notable resistance level around $0.84 as analysts point to a shift in retail trader sentiment.

    After surging alongside top altcoins to highs of $1.23 in December 2024, Cardano has found it hard to regain momentum, with short retail sentiment allowing bears to push ADA below $1 and to the $0.80 support level.

    But what does a shift in sentiment mean for Cardano price?

    ADA dips to key support amid retail sentiment slip

    Cardano remains among the top 10 coins by market cap, but is currently down more than 6% in the past week amid a significant change in retail trader sentiment.

    ADA enjoyed a bullish commentary ratio in August as the price rose to above $1, with this coming on the back of a sharp pullback earlier in the month.

    Per analysts at on-chain metrics platform Santiment, the retail outlook has again swung bearish, with a bullish-to-bearish commentary ratio of 1.5:1, the most negative the crowd sentiment has been in five months.

    Santiment’s data, which highlights social media activity and comments, suggests gains follow such dips in retail sentiment.

    Notably, this bearish sentiment has been a catalyst for a 5% price rebound thus far, with ADA price eying a fresh breakout.

    “Cardano has quietly seen its normally optimistic crowd start to turn bearish. After the lowest sentiment recorded in 5 months, $ADA’s price is +5%. Patient holders and dip buyers during this three-week downswing should root for this trend of bearish retailers to continue,” Santiment posted on X.

    Bulls are thus trying to keep the $0.80 support level intact.

    Cardano retail sentiment swings bearish: Source: Santiment on X

    Cardano price prediction

    The flip in retail sentiment has sparked optimism among analysts regarding Cardano’s price trajectory.

    According to Santiment, hodlers and dip buyers may want to position further ahead of a potential price rally.

    Historically, bearish retail sentiment has offered an ideal accumulation phase for whales, in this case, the outlook that could potentially drive ADA’s price upward.

    “Prices typically move the opposite direction of the crowd’s expectations. When small traders sell off their bags out of impatience and frustration, it is generally the key stakeholders who accumulate and drive up prices again,” the analysts noted.

    However, while short-term volatility is expected, Cardano may yet experience an extended pullback.

    Broader market conditions and whale activity will provide signals, while traders may have to look at the technical picture.

    As the market is largely weak amid September woes, ADA price could revisit support around $0.69 and $0.54.

    On the upside, a breakout above $0.84 will allow buyers to aim for the psychological $1 level and $1.24. The all-time high is at $3.10.

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  • Ethena price forecast amid a 94 million ENA token unlock

    Ethena price forecast amid a 94 million ENA token unlock

    Ethena Price Amid Token Unlock

    • Ethena’s token ENA is up nearly double digits in 24 hours as bulls eye a breakout above $0.80.
    • The token expects a major unlock event of 94 million ENA.
    • Analysts say price could break out amid key fundamental strengths for Ethena.

    Ethena (ENA) price is up nearly 10% in the past 24 hours, despite the USDe stablecoin platform facing a huge token unlock.

    The price of Ethena at $0.69 signals a potential breakout if buyers drive sentiment post the over 94 million ENA token unlock event.

    Meanwhile, trading volume has surged 53% to over $574 million and market cap to $4.6 billion, putting Ethena among the top gainers on the day.

    Bitcoin Cash, Tornado Cash and Sky are among the outperformers in the past 24 hours.

    Ethena price ticks up ahead of token unlock

    As noted, Ethena is preparing for a significant token unlock, with 94.2 million ENA tokens set to be unlocked on Sept. 2.

    Per current price, the total value of the tokens coming into circulation stands at around $63.1 million, scheduled for 15:00 UTC+8.

    According to on-chain details shared by SoSoValue in a post on X, the huge ENA unlock will account for 0.63% of the total supply.

    Notably, the coins will be distributed between the ecosystem fund and foundation, with 53.55 million ENA going to the fund and 40.64 million ENA to the foundation.

    In the crypto market, token unlocks are critical events and often affect market liquidity and price stability.

    Ethena’s price will likely swing amid the token release, with trader sentiment key to short-term price movement.

    However, this unlock comes amid substantial milestones for the Ethena network, including the success of its synthetic dollar USDe.

    The past month has seen USDe cross the $12 billion market cap, and Ethena surpassed $500 million in cumulative gross interest revenue. Ethena also saw over $30 million USDe of rewards distributed.

    Strong fundamentals and broader market sentiment may thus help ENA price even as 94 million tokens come into circulation.

    Ethena price forecast

    The ENA token reached highs of $0.85 in August after a significant uptick from lows of $0.51 earlier in the month.

    However, profit taking tanked prices to around $0.62 before a bullish bounce faded around $0.75.

    Ethena price chart by TradingView

    Ethena price is back near the $0.70 mark after its latest uptick, with ENA’s current daily chart displaying a potential cup and handle pattern.

    The pattern often signals a bullish trend continuation, and a price breakout above $0.80 is likely to confirm this for Ethena.

    The daily RSI above 54 and upsloping add to this bullish outlook. Buyers could target $1.26 in the short term.

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  • Tornado Cash price forecast: TORN retests key level as bulls eye $20

    Tornado Cash price forecast: TORN retests key level as bulls eye $20

    Tornado Cash

    • Tornado Cash price retests supply wall at $12 with 6% spike in the last 24 hours.
    • Overall bounce for top coins has seen TORN price rebound from lows of $11.50 to retest the key resistance area around $12.40.
    • The technical picture is bullish with TORN looking to break above a key ascending triangle pattern on the daily chart.

    Tornado Cash (TORN), the governance token for the Ethereum-based privacy protocol, recently in the headlines for a court verdict on one of its co-founders, is trading at a key level after bouncing off recent lows.

    With the broader cryptocurrency market displaying resilience, and analysts forecasting a recovery in Q4, is TORN’s price action set for further gains?

    Could bulls retest the $20 last seen in January 2025?

    Tornado Cash price retests $12 hurdle

    As cryptocurrencies struggled amid bearish pressure on Monday, Tornado Cash traded lower alongside other tokens.

    However, with top coins recouping some gains, TORN rebounded from lows of $11.50 to climb to the key resistance area around $12.40.

    Notably, this is a level that has previously provided a significant supply wall for TORN.

    A retest of the area comes with price action that mirrors that of the broader market bounce as both Bitcoin (BTC) and Ethereum (ETH) bounce to key levels after experiencing dips on Monday.

    BTC, which briefly fell below $108k, has regained ground to trade above $110k.

    Meanwhile, ETH, down from its new all-time high above $5k, has stabilised above $4,400 as bulls keep bears off.

    TORN’s upward move aligns with this renewed market optimism, as the token tests the $12.40 resistance zone.

    As noted, this level has historically acted as a barrier, having thwarted bulls in December 2024 and January 2025.

    In the past 24 hours, Tornado Cash crypto is up nearly 6%.

    However, its 24-hour trading volume is a mere $84.9k, with this up 3% from the previous day to signal minimal market activity.

    Tornado Cash price forecast: Is $20 next?

    The technical outlook for TORN is increasingly bullish, with the token forming an ascending triangle pattern on the daily chart.

    Tornado Cash chart by TradingView

    Analysts associate this pattern with potential breakouts, and the $12.40 resistance level is critical in this respect.

    If there’s a decisive close above this point, momentum could propel TORN toward the next significant resistance at $20.

    Looking at the chart, the Relative Strength Index (RSI) currently sits at 57.

    Year-to-date highs of $27 and the November 2024 peak of $39 could be the next targets.

    If TORN fails to decisively breach $12, it may retreat to the $10 support level. A robust buy zone is around $7.20.

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