Ethena Labs’ synthetic dollar stablecoin USDe is gaining notable traction in the cryptocurrency market.

Less than a day after Binance launched a rewards program for the asset, USDe has officially entered the United States through Kraken.

USDe is coming to @krakenfx, the first USDe listing on a US exchange https://t.co/CsAdZTDPnu pic.twitter.com/rwcAwUZkdj

— Ethena Labs (@ethena_labs) September 23, 2025

The move is crucial in pushing Ethena’s stablecoin into international markets.

Kraken has confirmed it will open trading soon, allowing traders in America to access an innovative stablecoin that’s different from traditional fiat-pegged alternatives like Circle’s USDC and USDT.

How Ethena’s USDe works

While USDT and USDC use bank-held fiat reserves, USDe leverages delta-neutral hedging with BTC and ETH derivatives to maintain a dollar peg.

The approach aims to build a censorship-resistant, on-chain stable token while avoiding dependence on third-party and centralized custodians.

Proponents suggest that USDe’s design heralds the next wave of stablecoin revolution, which promises the reliability and efficiency that matches blockchain’s decentralization code.

Also, the asset has gained popularity due to its yield-bearing offerings, allowing individuals to earn passive returns from idle stablecoin balances.

Participants can stake USDe and receive sUSDe, which compounds yield with time.

The regulatory significance

Besides bolstering USDe’s adoption, Kraken’s listing sets the stablecoin ahead in compliance.

Authorization to join a licensed US exchange generally involves significant regulatory and legal checks, which Ethena has likely passed.

The move adds a layer of credibility to the synthetic dollar protocol.

One X user commented on its US debut, stating:

USDe hitting a US exchange signals more than growth. It’s validation. The synthetic dollar is no longer a niche.

Compliance is vital since it may reassure investors and traders of the asset’s safety.

Stablecoin competition intensifies

While USDT and USDC dominate the current stablecoin industry, USDe rises as a serious contender.

Ethena’s stablecoin sees remarkable growth as it attracts participants seeking more decentralized options.

USDe ranks 3rd with its $14.43 billion market cap, far below USDT ($172.83 billion) and USDC ($74.03 billion).

The stablecoin rivalry would likely surge in the coming times.

Established projects should adjust and adopt accommodating models.

ENA price outlook

Ethena’s native coin traded in the green amidst the Kraken news.

ENA has gained more than 4% on its daily price chart to $0.6156.

The altcoin braces for impressive growth as USDe strengthens the Ethena ecosystem.

Meanwhile, bulls should hold the support barrier at $0.60 to keep the upside steam in the near-term.

Breaching the support zone at $0.50 to the downside will invalidate ENA’s bullish trajectory with notable price dips or sideways.

The post Ethena’s USDe stablecoin makes US debut with Kraken listing appeared first on CoinJournal.

Ethena’s USDe stablecoin makes US debut with Kraken listing

Source: https://coinjournal.net/news/ethenas-usde-stablecoin-makes-us-debut-with-kraken-listing/

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.

The post Ethena looks to gain as Mega Matrix scoops $6m ENA for treasury strategy appeared first on CoinJournal.

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

Source: https://coinjournal.net/news/ethena-looks-to-gain-as-mega-matrix-scoops-6m-ena-for-treasury-strategy/

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.

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.

Ethena price rises towards $1 as TVL tops $10B as Golden Cross forms

Source: https://coinjournal.net/news/ethena-price-rises-towards-1-as-tvl-tops-10b-as-golden-cross-forms/

Ethena (ENA) is in the spotlight due to a remarkable price rally amid a game-changing SPAC deal that could redefine the altcoin’s long-term trajectory.

With the announcement of a $360 million treasury initiative involving a merger with the SPAC TLGY Acquisition Corp, the Ethena Foundation has triggered widespread speculation about what’s next for ENA.

The merger has coincided with a sharp recovery in the price of ENA, which recently surged more than 130% from its June lows, flying past the critical $0.5892 mid-range resistance.

The SPAC deal has fueled investor excitement

On July 21, the Ethena Foundation revealed it had launched StablecoinX, a crypto-native treasury company that will merge with TLGY Acquisition Corp to go public on the Nasdaq under the ticker USDE.

The newly-formed company is tasked with accumulating a long-term strategic reserve of ENA, backed by $360 million in PIPE funding, including a $60 million commitment from the Foundation itself.

Top-tier crypto investors like Dragonfly, Pantera Capital, Galaxy, and Polychain have also joined the deal, reinforcing confidence in ENA’s potential as a long-term ecosystem token.

The proceeds will not only fund token accumulation but also allow StablecoinX to operate validator infrastructure and staking services for the Ethena protocol.

With Ethena already positioned as the third-largest issuer of digital dollars on-chain — trailing only Tether and Circle — this treasury strategy aims to deepen liquidity and promote price stability across the ecosystem.

Ethena price technical breakout signals shift in momentum

As the news of the StablecoinX launch broke, ENA’s market reaction was swift and bullish, pushing the token past both the descending resistance line and the key horizontal resistance at $0.42.

The price pushed past the crucial decision level at $0.55, a mid-range resistance that has historically defined bullish or bearish continuations, and hit an intraday high of $0.6056.

If ENA manages to reclaim and close above $0.55 with volume support, it could ignite a push toward $0.91 and potentially the all-time high of $1.52 set in April 2024.

However, if the price is rejected at this level, traders may witness a corrective move back to the range lows near $0.20, a zone that could present a compelling re-accumulation opportunity.

Momentum indicators such as the RSI and MACD are clearly in bullish territory, with no signs yet of bearish divergence, suggesting that the rally may still have legs.

Market fundamentals strengthen ENA’s case

Beyond price action, ENA’s market fundamentals have dramatically improved, with a current price of $0.5377 and a 30-day gain of over 105%.

Its circulating supply of 6.35 billion ENA represents just over 42% of its 15 billion total supply, while the token boasts a robust $3.38 billion market cap and a TVL of $6.358 billion.

Daily trading volume has soared to $1.5 billion, reflecting growing liquidity and heightened investor interest following the SPAC announcement.

Ethena’s USDe, a synthetic dollar backed by a delta-hedging strategy, has also reclaimed a $6 billion supply — a figure last seen at its peak, further boosting community confidence.

In the short term, Ethena’s price outlook largely depends on how the price behaves at the $0.55 resistance and whether StablecoinX’s listing on Nasdaq progresses without delays.

The post Ethena price prediction following the Ethena StablecoinX SPAC deal appeared first on CoinJournal.

Ethena price prediction following the Ethena StablecoinX SPAC deal

Source: https://coinjournal.net/news/ethena-price-prediction-following-the-ethena-stablecoinx-spac-deal/

The cryptocurrency market is in an uptrend, with several altcoins under $1, including Sei, Ethena, and Arbitrum, seeing notable gains in the past 24 hours.

Sei has surged 20% in the last 24 hours, breaking above $0.31, while Ethena has spiked above $0.35. Elsewhere, Arbitrum trades above $0.41.

With these tokens among the top 100 best performers as altcoins gain alongside Bitcoin, are they worth watching?

Here’s a brief overview of each.

Sei (SEI) price poised at $0.31

Sei, a high-performance layer 1 blockchain designed for decentralized finance (DeFi) and high-frequency trading, has recently captured significant attention.

On July 10, 2025, Sei announced a major milestone with the integration of native USDC and Circle’s CCTP V2, positioning it as a trusted financial rail for institutional-scale transactions.

This development, coupled with a 20% price surge in the last 24 hours, underscores Sei’s potential to dominate the DeFi and payment sectors.

Stablecoin TVL on Sei has grown by over 100% in the past 4 months.

Just the start.

($/acc) pic.twitter.com/zcupEx0mRs

— Sei (@SeiNetwork) July 9, 2025

As Sei continues to enhance its infrastructure for seamless, near-instant global settlement, it remains a coin worth watching for investors seeking exposure to high-speed blockchain solutions.

The broader crypto market, currently at $3.6 trillion, is experiencing a bull flip. Sei broke above $0.30 and could eye a further upward trajectory.

Bulls will target $1 having already seen the token tap the all-time high of $1.14 in March 2024.

Ethena (ENA) breaks above $0.35

Ethena, a delta-neutral stablecoin protocol based on Ethereum, has seen a notable price increase, surpassing $0.35 as top altcoins rallied alongside Bitcoin.

The ENA token’s uptick in the past 24 hours comes amid listing by Upbit, South Korea’s largest crypto exchange. Upbit announced the listing of ENA trading pairs with KRW, BTC, and USDT, beginning July 11, 2025.

$ENA is listed on Upbit @upbitglobal, the largest South Korean exchange

업비트 원화 마켓에 $ENA 가 상장되었습니다

주요 한국 거래소에 또 상장하게 되어 매우 기쁩니다 pic.twitter.com/P1dktBReXx

— Ethena Labs (@ethena_labs) July 11, 2025

Ethena, which aims to provide a stablecoin solution resilient to market volatility, could see its native token benefit from Upbit’s listing with further adoption and liquidity.

The Ethena Lab’s focus on stability and its integrations across the market means it’s a key player in the stablecoin and DeFi sectors.

Given the crypto market’s recent surge, Ethena’s one of the altcoins to monitor. ENA traded at an all-time high of $1.52 in April 2024.

Arbitrum price breaks $0.41

Arbitrum, an Ethereum layer-two (L2) scaling solution, has demonstrated strong performance. ARB price has reached $0.41 and looks bullish.

Known for improving Ethereum’s speed, scalability, and cost-efficiency through optimistic rollups, Arbitrum is well-positioned to dominate the smart contract platform sector.

Its native token, ARB, is used for governance within the Arbitrum DAO, further solidifying its role in decentralized applications (dApps).

A 15% increase in Arbitrum’s price over the last 24 hours and 26% in the past week, aligns with the broader market’s uptick.

If institutional interest in L2 solutions continues to rise, Arbitrum’s potential for further gains makes it a noteworthy altcoin under $1.

The token traded at the ATH of $2.40 in January 2024.

The post Top 3 altcoins under $1 worth watching: Sei, Ethena, Arbitrum appeared first on CoinJournal.

Top 3 altcoins under $1 worth watching: Sei, Ethena, Arbitrum

Source: https://coinjournal.net/news/top-3-altcoins-under-1-worth-watching-sei-ethena-arbitrum/