The post ENA Gets a $2 Target from Standard Chartered: What Has to Go Right? appeared first on Coindoo.

The Defiant reported the forecast; because the bank’s research note is not public, the case must be assessed through Ethena’s business model and the conditions attached to it.

How Ethena’s dollar model works

Ethena is a synthetic-dollar protocol built on crypto rails. Its flagship product, USDe, is a dollar-denominated digital asset backed by crypto assets and corresponding short futures positions, according to Ethena’s documentation.

The design aims to reduce the impact of directional moves in the collateral. If the crypto assets backing USDe rise or fall, short derivative positions are intended to move in the opposite direction. Staking rewards from collateral and funding payments in perpetual-futures markets can contribute to the returns generated through Ethena’s savings product, sUSDe.

The hedge is designed to reduce directional risk; it does not remove funding-rate, liquidity, execution, custody or counterparty risk. That is why USDe should be assessed through the resilience of its full operating model, not only its dollar peg.

Why the wider onchain-dollar market matters

Digital dollars are increasingly being used for settlement, collateral, savings products and tokenized investments. That gives protocols such as Ethena a potential role beyond serving traders who need a stable balance between crypto positions.

Coindoo recently examined why crypto’s next growth phase may be built on dollars rather than Bitcoin. Citing Visa Onchain Analytics, that analysis found adjusted stablecoin volume rose 58% and adjusted transaction count increased 35% in the 12 months through August 31.

Those figures suggest that onchain-dollar rails are expanding. They do not show which protocol will retain the activity, how much is economically valuable or whether a larger stablecoin market will create demand for ENA. Ethena still needs to compete for distribution, liquidity and user trust.

Where ENA fits into Ethena’s growth

A larger USDe supply could support higher protocol activity and revenue. The benefit to ENA depends on how that revenue is allocated among reserves, operating costs, user rewards, token emissions and tokenholder mechanisms.

The Defiant cited Ethena’s buyback programme as part of Standard Chartered’s reported investment case. The public fee-switch proposal provides the necessary detail: it would direct part of net protocol revenue to ENA buybacks after specified USDe supply milestones are reached, subject to the governance process and the framework’s conditions.

That is a possible value-accrual route, not a fixed demand source. The scale of any buybacks would depend on revenue, the milestones reached and the eventual implementation. A strong USDe growth figure alone would therefore give readers only part of the picture.

A previous Standard Chartered call offers a useful warning

Standard Chartered’s earlier Chainlink forecast shows why a bank target should not be treated as a simple explanation for a token’s next daily move. Our team recorded that LINK was largely unchanged on the day the bank released its August forecast, then gained about 6% the following day before extending its recovery in later sessions.

The timing made the forecast part of the market narrative, yet it did not establish that the call caused the buying. The current ENA move arrives while altcoins are also recovering more broadly, making it even harder to separate interest in one reported target from the wider market backdrop.

Past market reactions do not guarantee future results. The Chainlink episode is useful only as a reminder that analyst coverage can attract attention while price still depends on liquidity, positioning, risk appetite and the token’s own technical structure.

ENA is holding its first support area

On the daily ENA/USDC chart, the first support range sits near $0.244-$0.246. The 23.6% Fibonacci retracement lies around $0.244, while the rising diagonal trendline approaches the same area.

Daily closes that keep ENA above this range could indicate that buyers are still defending the latest advance. A sustained move below it could bring the next wider support area into view.

ENA repeatedly stalled, pulled back and recovered around the $0.21-$0.22 area during September’s advance. That history gives the 38.2% retracement near $0.213 more context than a Fibonacci line on its own. If the first support weakens, this is the next range where the market could show whether buyers remain active.

The reported target creates a framework to test

The $2 call gives ENA a long-term narrative, yet the useful evidence will arrive in smaller steps. Readers can follow whether USDe grows outside favourable funding conditions, whether Ethena adds new uses without weakening its risk controls and whether the fee-switch framework delivers a visible benefit to ENA holders.

For now, the daily chart offers the nearer test around $0.245. The longer-term case rests on Ethena’s ability to turn a growing digital-dollar business into durable, measurable value for its token.

This article discusses a Standard Chartered target reported by The Defiant and is provided for informational purposes only. It does not constitute financial or investment advice.

The post ENA Gets a $2 Target from Standard Chartered: What Has to Go Right? appeared first on Coindoo.

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Source: https://coindoo.com/ena-2-target-from-standard-chartered-what-right/

The post Cardano Helps Brazil’s Oil Giant to Track Cleaner Fuel Claims appeared first on Coindoo.

The Cardano Foundation’s case study describes a collaboration involving Petrobras, PUC-Rio University’s Ledger Labs and the Foundation. Called CS-SAF, the platform represents fuel sustainability attributes as digital tokens with metadata aligned with the aviation emissions framework CORSIA.

Why fuel claims need a separate record

Under a book-and-claim model, a buyer can acquire the environmental attributes of sustainable aviation fuel without taking delivery of that fuel. The Roundtable on Sustainable Biomaterials explains that these attributes are transferred separately through a registry. This allows buyers to support sustainable fuel use even when they cannot access the physical supply.

Separating the claim from the delivery makes accurate accounting essential. The record needs to connect each attribute to the certified fuel, track its allocation and show when it has been claimed. Otherwise, participants may struggle to establish whether the same benefit has already been used.

The Foundation describes the following process for CS-SAF:

The case study also describes a dedicated app through which passengers can claim tokens and receive a certificate.

Petrobras already produces fuel that needs this accounting

Petrobras says its sustainable aviation fuel, produced at the Duque de Caxias refinery, has obtained CORSIA sustainability certification. Production involves co-processing conventional petroleum feedstocks with renewable material.

The company also produces R Diesel by co-processing petroleum diesel with inputs such as vegetable oil or animal fat. Petrobras markets versions with different renewable shares, including R5 at 5% and R10 at 10%.

Those percentages help explain why precise records matter. A fuel’s renewable content, its calculated lifecycle emissions and the benefit a buyer may report are different pieces of information. Buyers and auditors need to know exactly what a certificate covers.

Certification determines whether a claim is valid

For aviation claims, ICAO’s CORSIA framework requires eligible fuels to come from producers certified through an approved sustainability certification scheme. These checks establish whether the applicable sustainability criteria and lifecycle-emissions methodology have been met.

An auditable transaction history can help an auditor follow an attribute after issuance. Assessing its environmental value still requires evidence about the feedstock, production process and emissions calculation. Token retirement also needs safeguards against the same underlying benefit being issued again or claimed through another registry.

Fuel certification and acceptance of a digital record are separate questions. A certificate aligned with CORSIA requirements does not, by itself, establish that regulators accept a particular blockchain platform for reporting.

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Commercial use remains the unanswered question

The Foundation’s public case study does not identify participating airline customers, quantify fuel volumes represented by the tokens or report how many claims have been retired. Those details would help establish the extent of operational use.

For Petrobras and its customers, the practical measure of success would be whether the system makes certificate reconciliation faster, gives auditors sufficient evidence and works with other registries. Documented results on those points would make the case for adopting it across the fuel supply chain.

This article is for informational purposes only and does not constitute investment, legal or environmental-compliance advice.

The post Cardano Helps Brazil’s Oil Giant to Track Cleaner Fuel Claims appeared first on Coindoo.

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Source: https://coindoo.com/cardano-helps-brazils-oil-giant-to-track-cleaner-fuel-claims/

The post Morgan Stanley Sets Up Crypto Lab for Stablecoins and DeFi appeared first on Coindoo.

Key Takeaways

Bloomberg reported on September 29 that the Digital Asset Lab forms part of Morgan Stanley’s existing innovation-lab network. Megan Brewer, who leads market innovation and labs, described facilities where employees can examine new technologies without exposing the bank’s core systems to experimental software.

Amy Oldenburg, who heads the bank’s digital-asset team, identified DeFi vaults as an area of particular interest. Her team also intends to examine tokenized deposits, central bank digital currencies and tokenized money-market funds. The interviews did not establish a launch date for a client-facing vault product.

Morgan Stanley already offers clients several routes into crypto. Its Bitcoin Trust, MSBT, launched on April 8 with a 0.14% sponsor fee. On July 16, the firm announced that E*TRADE had rolled out spot trading in Bitcoin, Ethereum and Solana for eligible clients through zerohash. The lab extends the firm’s work to the technology behind payments and investment products.

How a DeFi vault puts crypto to work

A DeFi vault pools assets and uses blockchain software, known as smart contracts, to manage them under a defined strategy. In a lending vault, that strategy may involve allocating stablecoins across approved lending markets. Investors generally receive tokens representing their share of the vault’s assets.

Consider a hypothetical investor supplying $1,000 worth of stablecoins. The vault allocates those tokens to lending markets, where borrowers pay interest. The investor’s eventual return depends on the rates earned, fees charged and any losses. This example explains a lending strategy; Morgan Stanley has not disclosed such a product or a promised return.

Returns from lending can change while the investor’s money remains in the strategy. Aave’s lending documentation, for example, explains that supplier rates respond to borrowing demand, available supply and governance parameters. A rate displayed when an investor enters a lending market is not a fixed promise for the duration of the investment.

For an asset manager, this creates a possible product structure: clients hold a share, a manager defines the strategy and software handles parts of its execution and accounting. Morgan Stanley’s interest raises the question of whether that structure can fit the services and controls its clients expect.

Stablecoins, deposits and fund shares carry different rights

The lab’s agenda also covers the assets that could move through blockchain-based financial services. The differences between stablecoins and tokenized deposits determine who owes the holder money and which redemption rules apply. Fund and vault shares add exposure to an investment portfolio.

Moving these assets between institutions introduces further questions. The Bank for International Settlements highlights the need for systems that work across platforms, clear legal finality and reliable operations. In practical terms, a bank needs to establish that a transfer can reach its destination, is legally complete and can be handled safely when something goes wrong.

Withdrawals and control are the harder questions

Continuous blockchain operation can make transactions available outside banking hours. Access to invested assets still depends on liquidity. If much of a lending pool’s money is borrowed, a supplier may be unable to withdraw the full amount immediately. Aave explicitly makes withdrawals conditional on sufficient available liquidity.

Vault designs can address that constraint in different ways. Morpho’s Vault V2 documentation describes separate roles for configuring risk and allocating assets, as well as withdrawal mechanisms involving underlying investment positions. Receiving such a position leaves the investor exposed to it; it does not necessarily deliver spendable cash.

Aave and Morpho illustrate existing approaches to lending and vault design; the reporting does not identify either as a Morgan Stanley partner. For a bank assessing such tools, the practical questions also include:

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A client launch would need clearer product terms

The interviews establish the bank’s interest in these technologies, but leave the commercial design open. A named product, eligible investment strategies and published customer terms would show which part of the lab’s work is ready for use. Fees would also help investors assess how much of a strategy’s return they could retain.

A future vault service would give clients exposure to an investment strategy, with fees and withdrawal conditions that affect its usefulness. Those terms would determine whether the service offers a worthwhile addition to Morgan Stanley’s existing crypto products.

The post Morgan Stanley Sets Up Crypto Lab for Stablecoins and DeFi appeared first on Coindoo.

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Source: https://coindoo.com/morgan-stanley-sets-up-crypto-lab-for-stablecoins-and-defi/

The post Ethereum Sets October 6 for Sepolia Upgrade – What Will Change? appeared first on Coindoo.

The Ethereum Foundation’s announcement gives Sepolia operators a deadline to update their software and application teams a network on which to test the changes. Ordinary ETH holders have no upgrade action to take for this activation.

Glamsterdam prepares Ethereum to handle more work while changing the charges for some operations. The public test will let developers check whether applications still execute correctly and estimate fees accurately under those rules.

Will Glamsterdam change what users pay?

The effect depends on the transaction. Creating an account, deploying contract code or adding storage leaves information that Ethereum’s nodes must retain. Glamsterdam changes the gas charged for that work, as well as for accessing existing records.

EIP-8037 increases and separately accounts for state creation costs. EIP-8038 updates charges for reading and writing stored information. An application that creates substantial new storage will therefore face a different cost profile from a simple payment.

For a plain ETH transfer to an existing ordinary account, the current transaction-gas specification keeps the charge at 21,000 execution gas. That measures the work charged to the transaction. The amount paid still depends on the price of gas when it is submitted.

Ethereum’s fee documentation explains that the final charge depends on gas consumed and the price per unit, with demand influencing pricing. More capacity can reduce competition for space, while higher charges for particular operations can increase their gas consumption. A claim that Glamsterdam will make every transaction cheaper would overlook that distinction.

Why Ethereum is changing the work behind each block

Increasing capacity also increases the work nodes must perform. They need to receive transaction data, check it and maintain Ethereum’s records. Glamsterdam addresses the time available for those checks and how client software organises access to the data.

These changes create room for greater execution capacity. Gas repricing addresses the accompanying database burden: allowing more activity is easier to sustain when operations that create or access stored data are charged in proportion to their resource demands.

A fixed gas allowance can become an application problem

Consider a contract that gives an internal operation a fixed amount of gas. If that operation becomes more expensive, it may exceed the allowance and fail. Giving the overall transaction more gas does not necessarily change a limit written into the contract itself.

This is why testing needs to go beyond checking whether the network activates successfully. A wallet may need to revise its estimate, while a contract with a hardcoded allowance may require a different fix.

The Foundation’s repricing impact analysis replayed historical mainnet transactions under the proposed gas schedule. In the transactions tested, the large majority produced unchanged outcomes. Some affected transactions completed after the supplied gas limit was increased. A smaller group remained potentially broken even with a substantially higher limit.

Developers can use the Foundation’s affected-contract search to investigate addresses and failure types. Teams maintaining wallets, transaction services and node tooling also need to update gas estimation rather than rely on cached cost assumptions.

READ MORE:

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Who needs to act?

A successful activation will show that clients follow the new rules together. The application testing that follows will show whether wallets estimate fees correctly and affected contracts operate reliably. Both are necessary before the proposed scaling improvements can deliver a dependable service to mainnet users.

The post Ethereum Sets October 6 for Sepolia Upgrade – What Will Change? appeared first on Coindoo.

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Source: https://coindoo.com/ethereum-sets-october-6-for-sepolia-upgrade-what-will-change/

The post The $85K Trap: Bitcoin’s Inflation Rally Quickly Fades appeared first on Coindoo.

Key Takeaways

The August personal consumption expenditures report arrived on September 30 around 12:30 UTC. Bitcoin briefly climbed above $85,000, then slipped back below $84,000, according to CoinDesk’s intraday coverage. The initial buying was not enough to sustain the move.

Softer inflation eased rate fears, but did not settle them

Core PCE, which excludes food and energy, rose 0.2% in August and 3.0% from a year earlier. The annual figure was below the 3.3% forecast reported by The Wall Street Journal. Headline inflation, including food and energy, came in at 0.3% for the month and 3.4% annually.

For Bitcoin, the immediate attraction was a reduced risk of another rate hike. Higher interest rates raise borrowing costs and can make interest-paying savings more attractive than assets such as Bitcoin. A softer inflation reading can give the Fed more room to pause.

The comparison with July needs care, however. Reuters reported that July’s annual core reading was revised down to 3.0%, matching August. There was no new decline between those two months, and headline inflation remained above the Fed’s 2% target.

Treasury yields also reversed their initial decline. CoinDesk reported that the US 10-year yield recovered to around 5.28% after falling as low as 5.20%. A rebound in yields can weaken the initial support for riskier assets by increasing the return available on government bonds.

That is a possible explanation for the fading momentum, but timing alone does not prove what caused Bitcoin’s reversal. The chart shows more clearly which price levels buyers failed to hold.

Bitcoin cleared resistance briefly, then fell back below it

The Bitstamp four-hour chart shows the September 30 spike reaching roughly $85,500. The candle’s long upper wick records the move higher and the retreat that followed. At 21:20 UTC, Bitcoin was near $83,700, below the 50-period simple moving average around $84,200.

The 50 SMA averages the closing prices of 50 four-hour candles. Bitcoin crossed above it during the rally, but was back underneath it later. That makes the average the first level to reclaim before another attempt at the rejected price area.

Levels are rounded from the September 30 chart snapshot. Moving averages change with each candle.

A four-hour close above the 50 SMA, followed by a pullback that holds around it, would be more convincing than another brief spike. It would show buyers maintaining higher prices after the initial buying subsides.

Bitcoin had already traded above $87,000 earlier in September. The inflation jump was therefore an attempt to recover lost ground within the month’s range, with the earlier high still overhead.

The failed rally does not erase September’s gains

That wider range helps put Santiment’s assessment in context. The analytics firm described Bitcoin as outperforming stocks and gold heading into the fourth quarter. At the time of its post, it estimated BTC had gained roughly 7% in September, while the S&P 500 barely moved and gold fell more than 6%.

The graphic uses a different Bitcoin comparison from the post: it marks a 6.3% gain over five weeks, alongside September changes of +0.3% for the S&P 500 and -6.5% for gold. These figures should not be treated as returns over the same period.

A failed intraday recovery can coexist with those earlier gains. Santiment is describing the wider advance; the four-hour chart is testing whether buyers can restart it.

Santiment’s demand argument also has a concrete example in Strategy’s purchase of 1,665 BTC. The company’s September 28 disclosure covered purchases made between September 21 and September 27. That confirms corporate buying during the month, while placing it before the inflation release.

READ MORE:

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The next attempt needs buyers to stay

The next recovery will be more useful if it lasts beyond the initial burst. Two outcomes would change the short-term reading:

A recovery while Treasury yields stay elevated would be a more demanding test of buyers than another rally on favourable inflation news. Holding higher prices in that setting would strengthen Santiment’s demand argument without relying on a fresh improvement in the rate outlook.

The post The $85K Trap: Bitcoin’s Inflation Rally Quickly Fades appeared first on Coindoo.

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Source: https://coindoo.com/the-85k-trap-bitcoins-inflation-rally-quickly-fades/

The post DogeOS Opens a Testnet: What Could Change for DOGE Holders? appeared first on Coindoo.

Key Takeaways

The September 30 announcement describes an environment compatible with the Ethereum Virtual Machine, or EVM, the engine that runs Ethereum smart contracts. Developers can use familiar tools to build services around DOGE while Dogecoin’s base network remains unchanged.

For holders, the useful question is what those services would let them do—and what would be involved in moving their coins into an application and back out again.

What a Dogecoin application could offer

The announcement names Superposition Finance, a lending project, and USDoge, a proposed stablecoin backed by collateral. It also includes Doge Escape among the gaming projects. Availability and features depend on each team’s development schedule.

A borrowing example shows the potential benefit more clearly than a list of app names:

That would create a new choice for holders, with financial obligations attached. Testing can establish whether such a service works, but its appeal will also depend on the terms and the funds available to borrow.

Getting DOGE into an app is part of the test

DogeOS applications run on their own network, so using them involves more than sending an ordinary Dogecoin payment. A bridge connects the two systems, allowing assets to move into the app environment and return to Dogecoin.

The current official bridge guide covers transfers between Dogecoin’s testnet and the DogeOS Chikyū testnet. These transfers use testnet DOGE. The guide describes an early implementation and says deposits and withdrawals can take up to four hours.

That timing applies to the documented testnet process. It also illustrates why a quick transaction inside an application does not necessarily mean a quick return to the original network. Someone borrowing, trading or playing a game needs both parts of the journey to work.

Who checks the bridge today?

DogeOS CEO Jordan Jefferson told The Block that bridge state changes require valid proofs, signatures from a majority of validators and a signer operating in a trusted execution environment, a protected area for running code. Transaction ordering is handled by a permissioned sequencer, restricting that function to approved operators.

Dogecoin does not currently verify DogeOS’s zero-knowledge proofs itself. A proposed Dogecoin Core upgrade would add native proof verification, but it has not been implemented.

The present arrangement therefore adds checks and operators beyond those involved in a normal Dogecoin transfer. Users evaluating future applications will need to understand who controls those components and what happens if they stop working.

Ethereum also has a role behind the DOGE fees

The design combines several networks. DogeOS’s fee documentation says transaction data is published to Ethereum for data availability. This makes the information available for reconstructing and checking the app network’s history.

Fees are denominated in DOGE, covering both application execution and the costs of publishing data and updating the Dogecoin bridge. A wallet therefore needs to account for more than the cost of running a smart contract when showing the full transaction charge.

For an ordinary user, the practical consequence is simple: assess the total cost of using a service, including moving funds between networks. The currency used to pay a fee does not tell the whole story about the infrastructure behind it.

READ MORE:

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Working apps still need regular users

EVM compatibility reduces the work required to build applications with tools developers already know. Teams still need to test their contracts: DogeOS’s compatibility documentation lists differences in supported Ethereum operations.

Once an app works, it needs users and, for financial services, sufficient liquidity. A lending market with little available funding offers limited borrowing opportunities. A trading service needs enough liquidity for users to transact without moving the price sharply. A game needs a reason for players to return.

DogeOS joins other attempts to expand Dogecoin’s use. Coindoo previously covered House of Doge’s Japan-focused partnerships, a separate initiative involving payments and tokenized assets. DogeOS is pursuing applications developers can build around DOGE.

Paying fees in DOGE creates a reason to use the coin. Low fees can mean many transactions require relatively little DOGE, however. Usage numbers would need to be read alongside the amounts actually paid.

What would show the project is ready for wider use?

Jefferson said the mainnet timetable would be shared after further development milestones. The immediate evidence to watch is:

For a holder, getting DOGE into an application is only useful if the service offers a worthwhile reason to keep it there. Clear costs and a predictable way to withdraw would give people a firmer basis for deciding whether to use that service with real DOGE.

The post DogeOS Opens a Testnet: What Could Change for DOGE Holders? appeared first on Coindoo.

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Source: https://coindoo.com/dogeos-opens-a-testnet-what-could-change-for-doge-holders/

The post 5 Biggest Crypto Gainers in 24 Hours: Altcoin Rally Broadens appeared first on Coindoo.

Key Takeaways

The five gainers cover Bitcoin applications, privacy, AI and synthetic dollars. Their advances follow a broader improvement documented in Coindoo’s September 27 review of the altcoin recovery, which found that strength had spread across more tokens.

Market snapshot, October 1, 2026. Figures show rolling 24-hour price changes at 07:40 UTC.

The earlier market review also identified more tokens moving onto exchanges and substantial futures positioning. Those conditions matter when holders take profits: available buyers need to absorb the selling, while leveraged positions can amplify a reversal.

Recent project announcements give investors additional reasons to assess these assets. They provide possible support for interest in the tokens, although they have not been established as the causes of the daily gains.

Stacks gives institutions a route into Bitcoin staking

Stacks supports smart contracts and financial applications connected to Bitcoin. In the announcement shared by Stacks, Anchorage Digital said it was building custody support for a service that would let institutions commit BTC for a term and receive rewards in BTC.

NEW: @Anchorage is building support for Bitcoin Staking on Stacks.

Institutions can enroll and fund a BTC Bond directly via their Anchorage account, earn weekly BTC rewards, and reclaim principal at maturity.

BTC stays in custody at a federally chartered bank on Bitcoin L1. pic.twitter.com/AdhMFv311a

— stacks.btc (@Stacks) September 24, 2026

Anchorage’s description says the Bitcoin would remain on its original network under the bank’s custody. The service uses Stacks’ PoX-5 mechanism; it does not change how Bitcoin itself reaches consensus. Participating clients would also commit STX and handle the required registration.

That STX commitment links institutional participation to the token. Wider use could increase demand to hold and commit STX, although participants may already own the tokens they need. The amount of capital entering the programme will therefore matter more than the custody announcement alone.

NEAR’s fund brings exposure into brokerage accounts

NEAR also has a new route for investors, through a U.S.-listed fund. Bitwise launched NRR on NYSE Arca on September 29, giving brokerage customers exposure to the smart-contract network’s token without managing a crypto wallet.

The trust also intends to stake NEAR. As explained in Coindoo’s coverage of the fund’s staking feature, earned rewards are intended to add to the assets backing its shares. The amount reaching investors depends on the tokens actually staked, the rewards earned and fund expenses.

For the token market, growth in newly issued fund shares can increase the trust’s NEAR holdings. Buying and selling existing shares between investors does not necessarily do so. Changes in holdings and share creations would show whether the new product is attracting additional exposure; redemptions could work in the opposite direction.

Midnight’s messenger offers an early privacy example

Midnight allows applications to verify information while keeping selected data private. A September 29 report from the Midnight Messenger developer described iPhone and Android apps in internal beta. Identity registration used Midnight’s test environment, while encrypted messages stayed outside the blockchain.

The developer also reported sponsored registration, so users would not need tokens to sign up. That illustrates Midnight’s NIGHT/DUST model: NIGHT holdings generate DUST, the resource used to fund transactions. Applications can use that resource to pay users’ costs. This makes the funding model easier to understand, but the messenger remains an early test rather than evidence of substantial commercial demand for NIGHT.

FET’s AI plans sit alongside a recent exploit

FET is the token associated with the Artificial Superintelligence Alliance and is used for fees, services and staking in the Fetch.ai ecosystem. The alliance advertised a September 29 discussion about ASI:Chain, its planned blockchain for AI workloads. That communication describes development ambitions rather than a new source of established token usage.

Ethena plans stock-linked trades to diversify income

ENA is Ethena’s project token, distinct from its synthetic dollar USDe. On September 25, Ethena announced Binance as the first venue for a proposed strategy combining stock-linked tokens with equity derivatives.

The plan is to hold a stock-linked token and take a short position designed to offset its price movements. Ethena aims to earn income while limiting exposure to the stock’s direction. Coindoo’s explanation of the strategy examines how this could diversify revenue beyond crypto-market funding.

The risk is that the stock-linked token and its hedge can price differently, especially when liquidity is thin or the underlying stock market is closed. Reliable performance could strengthen confidence in Ethena’s business, while losses or difficult exits could weaken it. Any benefit to ENA holders would still depend on how the token captures value from that business.

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Softer inflation has not removed the pressure from yields

Even successful project developments compete with conditions outside crypto. The September 30 inflation report reduced the urgency for another Fed rate increase, according to Reuters. Annual core PCE inflation was 3.0%, matching July’s revised rate. The report was better than feared, without showing a new annual decline.

A reduced threat of further tightening can encourage investors to hold riskier assets. Yet October 1 bond-market reporting showed that Treasury yields remained elevated. Higher yields raise financing costs and make interest-paying investments more competitive. The dollar’s rise to a more than three-month high adds another concern: dollar strength can accompany tighter funding conditions internationally.

Oil could ease or intensify that pressure. Reuters reported on October 1 that recovering Gulf exports were easing supply concerns. A sustained improvement could reduce future inflation pressure, while renewed disruption linked to the U.S.-Iran conflict could revive it.

The next scheduled U.S. employment report arrives on October 2 at 8:30 a.m. Eastern time. Investors will assess hiring, unemployment and wages together:

The rally’s durability will become clearer when holders take profits. Buyers absorbing that supply through spot purchases would be more encouraging than gains accompanied mainly by growing leverage. If bids hold while yields remain high, it would suggest demand can withstand restrictive financing conditions.

The post 5 Biggest Crypto Gainers in 24 Hours: Altcoin Rally Broadens appeared first on Coindoo.

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Source: https://coindoo.com/5-biggest-crypto-gainers-in-24-hours-altcoin-rally-broadens/

The post Citi Raises Bitcoin Target to $113K: What Other Big Names Expect appeared first on Coindoo.

Key Takeaways

What Citi’s $113,000 target means for Bitcoin

Citigroup increased its twelve-month Bitcoin target to $113,000 from $82,000, according to Reuters’ October 1 report. The September 30 note cited stronger crypto activity, returning ETF inflows and a supportive macroeconomic backdrop.

At approximately 12:23 UTC on October 1, Bitcoin price was near $84,000. Using that rounded reference, Citi’s target implies an advance of about 35%. Its twelve-month horizon extends roughly into autumn 2027.

The upgrade reverses a more cautious assessment earlier this year. In July, Citi had cut its assumption for net ETF inflows over the following twelve months to zero. Returning demand now gives the bank a reason to reconsider that outlook.

Citi expects inflows to resume gradually as advisers and brokerages increase Bitcoin allocations, according to the latest report. Such allocations could spread buying across time and support progress toward Citi’s target without a sudden rush into the market. The fund data already shows both a recovery and a setback.

Bitcoin ETFs attracted $3.08 billion before buying reversed

U.S. spot Bitcoin ETFs recorded nine consecutive sessions of net inflows between September 17 and September 29, according to Farside Investors’ data. Those sessions brought in approximately $3.08 billion. On September 30, the funds recorded $148.7 million in net outflows.

The withdrawal was much smaller than the preceding inflows, leaving a substantial positive balance across the period. It nevertheless interrupted the buying streak. Demand through these funds had improved, but the latest completed session shows that investors were still willing to reduce exposure.

Net flows measure the value entering funds through subscriptions after subtracting redemptions. Trading volume measures shares changing hands. Two investors can trade existing ETF shares without the fund needing to increase its Bitcoin holdings. Net inflows therefore give a clearer view of expanding exposure through this channel, although they reveal neither buyers’ intended holding periods nor a guaranteed price response.

How Citi compares with other major Bitcoin targets

The targets below cover different periods. Their reporting dates also matter: Citi’s upgrade is new, while Bernstein’s figures come from August research and Standard Chartered’s year-end target was reaffirmed in September reporting.

Standard Chartered and Bernstein offer the closest comparison because both give December estimates. Citi allows roughly nine additional months for its scenario, so ranking the figures by size alone would overlook how quickly each institution expects the recovery to develop.

Bernstein’s reasoning also differs. Its base case combines Bitcoin’s historical cycle with a valuation based on the cost of mining additional coins. That production-cost estimate is a modelling input; it does not determine the price buyers will pay.

The firm also argues that government debt pressures could increase demand for scarce assets as investors worry about currencies losing purchasing power. This provides a longer-term reason to own Bitcoin, but current bond-market conditions can still discourage buying.

High yields remain a hurdle for the recovery

Citi’s favourable macro assessment comes alongside immediate financing pressure. Reuters’ October 1 market commentary reported that the U.S. ten-year Treasury yield had risen above 5.3%, despite softer-than-expected August inflation data.

Higher yields make interest-paying investments more competitive. If financing also becomes more expensive, investors borrowing to buy crypto may reduce their positions. That can limit demand even while fiscal concerns support Bernstein’s longer-term argument. Continued ETF buying despite elevated yields would show that demand is enduring this pressure; a bank’s target alone cannot establish that resilience.

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Citi also raises its Ethereum target

The same Citi update lifted its twelve-month Ether target to $3,028 from $2,240. For Ethereum readers, that offers a more restrained comparison with Arthur Hayes’ $10,000 end-2026 target.

Hayes bases his personal view on Ethereum’s scale and suitability for large investment positions, as Coindoo’s September 30 coverage explains. His call requires a much larger move within a shorter period than Citi’s target. The gap reflects different expectations about how quickly capital will arrive, rather than two estimates built on the same assumptions.

Watch whether the next pullback brings sustained withdrawals

The latest ETF reversal makes the coming weeks more informative than another isolated price jump. Three observations can help assess whether the demand recovery is continuing:

This article is for informational purposes only and does not constitute investment advice. Price targets are conditional estimates and may change.

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The post ETHFI Falls 6% After Yesterday’s Rally: Key Levels to Watch appeared first on Coindoo.

Key Takeaways

After failing to hold the move toward $0.81–$0.82, ETHFI traded near $0.733 on Coinbase’s daily chart at 14:07 UTC on October 1. The open candle showed a decline of about 6.5%, with the final daily result still dependent on where the session closes.

That retreat brings the lower boundary of its rising formation into focus. Pullbacks can occur during an uptrend, but a rebound from this boundary would provide firmer evidence that buyers are defending the advance than the size of the decline alone.

How Ether.fi’s expansion connects to ETHFI

Ether.fi’s business has been broadening beyond restaking, with its August 13 app release adding tokenized asset trading, portfolio-backed borrowing and payment connections. Those services underpin its crypto neobank branding, although Ether.fi states that it is not a bank.

The expansion accompanies a retreat from EigenLayer restaking, where CEO Mike Silagadze cited weak additional yields and perceived risks in September 28 reporting. That change concerns the extra restaking layer; ordinary Ethereum staking remains available through eETH and weETH.

Product activity connects to ETHFI through the buyback programme, which uses withdrawal fees and part of protocol revenue to purchase tokens. Coindoo’s earlier analysis of crypto gainers and their fundamentals also examined this link between Ether.fi’s usage and token demand. However, acquired tokens go to stakers or liquidity rather than being permanently burned, leaving them available for later sale.

Brokerage access is also expanding through the physically backed ETHFI ETP launched by 21Shares on September 22. Its effect on demand depends on investor purchases, so the listing alone cannot explain the rally. The immediate price test remains whether buyers hold the ground gained.

The first support test sits near $0.70

The lower blue trendline marks that test around $0.69–$0.70 at the October 1 candle, with its position rising over time. A pullback here would revisit support within the existing advance, rather than retest a confirmed breakout above the upper boundary.

The lower blue trendline marks that test around $0.69-$0.70 at the October 1 candle, with its position rising over time. A pullback here would revisit support within the existing advance, rather than retest a confirmed breakout above the upper boundary.

If ETHFI tests the trendline, closes above it and sustains a rebound, buyers would have a basis for recovering $0.75–$0.78. Holding that area would then strengthen the case for another attempt at the rejected $0.81–$0.82 zone.

A close below the line followed by a failed reclaim would instead suggest that former support is resisting rebounds. Losing $0.64–$0.65 afterward would break a recent higher low and bring the 50-day average into focus. Because that average follows past closing prices, it is a trend reference rather than a guaranteed floor.

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RSI can help assess the strength of a rebound

Alongside those price tests, the relative strength index can help assess momentum by comparing recent gains with losses, usually over 14 periods. This chart has no RSI panel, so it cannot establish a current reading or divergence.

If RSI falls from above 70 but holds above 50 while price defends support, that would be consistent with cooling momentum within the advance. A sustained move below 50 alongside a support break would reinforce weakness. On a later rebound, a higher price high paired with a lower RSI high would also warn that momentum is fading.

The next rebound therefore matters more than an immediate return to the highs. A recovery that holds after the initial bounce would show buyers accepting higher prices again; repeated rejection below lost support would point toward a deeper correction.

The post ETHFI Falls 6% After Yesterday’s Rally: Key Levels to Watch appeared first on Coindoo.

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Source: https://coindoo.com/ethfi-falls-evels-to-watch/

The post XRP Treasury Evernorth Clears Vote for Nasdaq Listing appeared first on Coindoo.

Key Takeaways

The vote brings Evernorth closer to public markets

Armada Acquisition Corp. II shareholders approved the business combination on September 30 by approximately 20.5 million votes to 1.36 million, according to its October 1 SEC filing. Their approval allows the deal to proceed through Armada, a listed acquisition company formed to merge with another business and bring it into public markets.

Following the vote, Evernorth expects the transaction to close on October 7 and the combined company to begin trading on October 8, according to its official announcement. Meeting the remaining closing conditions would bring the XRP treasury plans introduced last year into public markets through Armada’s existing XRPN symbol, with Evernorth becoming the business behind the traded shares.

How the financing becomes an XRP treasury

The transaction and related private placements have raised more than $1 billion through a combination of cash and XRP supplied by investors. Some of the treasury therefore comes from in-kind contributions, where investors transfer tokens they already own in exchange for an ownership interest. Those contributions help assemble the treasury without necessarily requiring new purchases on an exchange.

The cash portion is expected to provide approximately $300 million before transaction expenses, including $225 million from private placements, $30 million in incremental convertible note financing and roughly $48 million from Armada’s trust. These rounded amounts describe gross proceeds; the cash available for purchases and operations will depend on what remains after expenses.

The same distinction between funding and assets helps explain the XRP figures. The merger prospectus reports that Evernorth held 346.3 million XRP on June 30, whereas the latest announcement projects roughly 473 million in the combined treasury at closing. Because those balances cover different dates and entities, their difference should not be presented as evidence of a recent market purchase.

For XRP holders, further buying will depend on how Evernorth deploys its cash and whether it raises additional capital. The larger closing balance establishes the scale of the planned treasury, while subsequent disclosures will show how much of its growth comes from purchases, contributions or investment returns.

Owning the stock adds a corporate layer to XRP exposure

Once the combination closes, an investor buying Evernorth stock will own part of a company whose assets and strategy are heavily linked to XRP. Corporate expenses, liabilities and management decisions will also affect that investment, so the stock’s performance can diverge from the token’s even when XRP remains the dominant treasury asset.

Buying shares also affects funding differently from buying tokens. A purchase of existing stock pays another shareholder, while Evernorth receives capital through transactions such as issuing securities or borrowing. Only when the company uses that capital to acquire XRP does the financing translate into additional treasury buying.

Investors will assess those choices against estimated net asset value, which measures assets less liabilities. Confidence in management’s ability to expand the treasury could support a share-price premium to that value, while concern about costs or execution could produce a discount. The price paid for the stock therefore influences how much underlying asset exposure an investor obtains.

A larger treasury can leave each share with less XRP

Financing becomes especially important when treasury growth is measured per share, one of Evernorth’s stated performance indicators. If acquiring more XRP requires issuing more stock, existing shareholders need to know whether the assets grew faster than the number of shares representing them.

For a simple hypothetical example, imagine a company with 100 million XRP and 10 million shares outstanding: its ratio is 10 XRP per share. Increasing the treasury to 120 million XRP while expanding the share count to 15 million reduces that ratio to 8. Although the company holds more tokens, each share represents a smaller amount, before considering other assets and liabilities.

The terms on which capital is raised can change that outcome. A premium to net asset value may let the company issue shares on favourable terms and use the proceeds to expand its holdings. If that premium shrinks, raising capital in a way that improves exposure for existing shareholders can become harder.

To apply this analysis to Evernorth, readers will need its final holdings and capital structure after closing. Its published XRP-per-share calculation includes outstanding Class A and Class C shares; warrants and other potential issuance also need to be assessed for their possible effect on future ownership.

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Investment income brings another set of risks

Evernorth also intends to grow its holdings by putting some of them to work through lending, derivatives strategies and liquidity provision. These yield activities are planned to begin after closing, when their results can start to be measured alongside the effects of capital raising.

Lending illustrates the trade-off. A borrower pays for access to XRP, creating potential income for the treasury, but that return depends on repayment and the terms governing when the assets become available again. Coindoo’s explanation of how lending on the XRP Ledger would work examines why credit quality and withdrawal conditions matter when tokens are deployed in loans.

Liquidity provision and derivatives introduce their own exposures: earning trading fees can change the mix of assets held, while some income-generating derivatives strategies limit upside or create hedging risk. Investors would therefore need to assess income alongside losses and the amount of capital exposed, rather than assess its income in isolation.

The first reports will make the strategy measurable

After closing, investors will need enough information to separate the assets assembled through the transaction from the results management produces afterward:

With that starting position established, later reports can show whether financing and investment activity increase the XRP attributable to each share. That comparison will let shareholders judge what management has added to their exposure, beyond changes caused by XRP’s market price.

The post XRP Treasury Evernorth Clears Vote for Nasdaq Listing appeared first on Coindoo.

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Source: https://coindoo.com/xrp-treasury-evernorth-clears-vote-for-nasdaq-listing/