Ethena’s ENA token leaped over 12% on Saturday following news that StablecoinX Inc. secured an additional $530 million capital raise. The move is part of StablecoinX’s ongoing accumulation strategy for ENA, significantly increasing its token holdings in the Ethena ecosystem.

StablecoinX expands ENA holdings

StablecoinX has now raised a total of $895 million in private investment in public equity (PIPE) financing. This funding is expected to give the firm control of more than 3 billion ENA tokens once transactions close, positioning the company as a major player in Ethena’s ecosystem. Marc Piano, Director at the Ethena Foundation, commented:

“This additional capital strengthens ecosystem resilience, deepens ENA liquidity, and supports the sustainable growth of USDe, USDtb, and future Ethena products.”

The increase in scale will also allow StablecoinX to expand into more institutional channels, attract coverage from leading investors and analysts, and build a top-tier leadership team.

StablecoinX stated that this move is part of a deliberate, long-term capital allocation strategy, designed to maximize exposure to the rising demand for digital dollars while compounding ENA growth for stakeholders.

Buyback program to support ENA price

Consistent with the approach taken during its initial PIPE raise, StablecoinX will use the new cash proceeds to acquire tokens directly from an Ethena Foundation subsidiary. Ethena confirmed that the subsidiary will initiate a $310 million buyback over the next six to eight weeks through third-party market makers.

At current market levels, this new program, along with liquidity contributions from third-party PIPE investors, represents about 13% of ENA’s circulating supply.

This buyback is in addition to the earlier program completed over the past six weeks, which absorbed around 7.3% of the supply. Importantly, the Ethena Foundation retains veto power over any future ENA sales by StablecoinX.

Defiance Capital CEO Arthur Cheong commented:

The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

“This is the most token holder-aligned DAT financing structure among all the DAT raises we’ve seen.”

Strengthening alignment between StablecoinX and Ethena

The relationship between StablecoinX and the Ethena Foundation emphasizes strategic alignment and long-term value creation. Future capital raises aimed at acquiring more locked ENA will channel proceeds directly into purchasing spot ENA, further reinforcing market demand.

The buybacks and treasury commitments create ongoing, programmatic support for ENA’s token price while also instilling confidence in investors. By securing nearly $900 million in financing tied directly to ENA and implementing structured buybacks, StablecoinX is strengthening both the liquidity profile and institutional credibility of the token.

Best example of DeFi legos today

The market responded swiftly, with ENA climbing over 12% after the announcement as traders interpreted the large-scale buyback and capital raise as a sign of strong institutional backing.

Ethena has established a significant presence in the DeFi sector by offering high-yield opportunities and attracting rapid capital inflows in 2025. Its synthetic stablecoin, USDe, crossed $12 billion in supply this year, marking it as one of the fastest-growing assets in the market and the third-largest stablecoin by market capitalization.

The platform’s unique approach allows users to stake their USDe to receive sUSDe, with current staking rewards yielding about 8–9% APY for sUSDe and up to 29% APY for core staking incentives, making it a popular choice among yield-seeking investors.

The ecosystem has also benefited from substantial institutional adoption, multi-chain integrations, and strategic partnerships, such as with Aave and Pendle, which further enhance liquidity and capital efficiency for users.

As of August 2025, Ethena reported more than $500 million in cumulative protocol revenue, and weekly revenue peaked at $13.4 million, highlighting its performance and status as a leader among yield-generating DeFi protocols. As BlockWorks cofounder Jason Yanowitz stated:

“The success of Ethena (issuer) + Pendle (yield market) + Aave (money market) feels under discussed. By far the best example of defi legos that exists today”

LINK rallied 12% over the past 24 hours, hitting $27.8, its strongest price since December. Bitcoin (BTC) appreciated 3.5% during the same period, while the broad-market CoinDesk 20 index jumped 6.5%.

In protocol-specific news, Chainlink obtained two major security certifications this week: ISO 27001 and a SOC 2 Type 1 attestation, marking a first for a blockchain oracle platform. The audits, carried out by Deloitte, covered Chainlink’s price feeds, proof-of-reserve services and the Cross-Chain Interoperability Protocol (CCIP).

The oracle provider says the move strengthens trust in its data services and can bolster adoption among banks, asset issuers and decentralized finance protocols.

Further supporting the rally, the Chainlink Reserve, which periodically purchases LINK tokens on the open market using protocol revenues, bought 41,000 tokens on Thursday, worth roughly $1 million at that time. That brought total holdings to 150,778 tokens, around $4.1 million at current prices.

Technical analysis

• Support Levels: Substantial defense established at $24.15 with high-volume confirmation, according to CoinDesk Research’s technical analysis data.
• Resistance Penetration: Systematic advancement through $25.00, $25.50, and $26.00 levels with volume validation from institutional participants.
• Trading Volume Analysis: Exceptional 12.84 million volume surge during breakout phase, representing five times the 24-hour average of 2.44 million units.
• Consolidation Patterns: Extended tight range consolidation around $24.70-$25.10 preceding explosive institutional-driven breakout.
• Momentum Indicators: Sustained upward trajectory with measured advance characteristics and institutional accumulation signals from corporate treasury operations.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Ethereum (ETH) surged past the $4,000 mark on Aug. 8, hitting its highest level this year after a sustained market rally that saw it gain nearly 50% in the past month.

Data from CryptoSlate shows the asset peaked at $4,047 during US trading hours. Notably, the last time ETH traded above $4,000 was in December 2024, when optimism around Donald Trump’s election victory fueled a wave of pro-crypto sentiment in the US.

Meanwhile, CoinGlass data reveals the latest rally caught bearish traders off guard. Short positions against ETH suffered losses totaling $134 million in the past 24 hours as prices defied expectations.

Institutional demand drives ETH

Ethereum’s breakout comes amid a surge in institutional interest in the digital asset for their treasury reserves.

Over the past month, major firms such as SharpLink and BitMine have accumulated significant ETH holdings and announced multi-billion-dollar purchase plans.

According to Strategic ETH Reserve data, these entities collectively hold over 3 million ETH—about 2.5% of the total supply—valued at more than $12 billion. BitMine leads with 833,100 ETH, worth approximately $5.2 billion.

Vitalik Buterin, the co-founder of Ethereum, has expressed a cautious optimism regarding the increasing corporate interest in ETH.

While he welcomed the adoption, Buterin cautioned firms against overleveraging their ETH holdings.

According to Buterin:

“If you woke me up 3 years from now and told me that treasuries led to the downfall of ETH… my guess would be that they turned into an overleveraged game.”

In addition to these firms, the Ethereum network has also seen a surge in adoption via exchange-traded funds (ETFs), with a record $5 billion in inflows recorded in July.

According to SoSo Value data, the trend has continued into the new month, with the nine funds registering just two days of outflows in August compared to four days of outflows experienced by their Bitcoin counterparts.

Additionally, traditional financial powerhouses like BlackRock and Robinhood have expanded their activities around Ethereum, focusing on real-world asset (RWA) tokenization.

What’s next for Ethereum price?

Looking ahead, market optimism continues to rise along with expectations of Ethereum’s continued price growth.

Crypto bettors on Polymarket, the leading decentralized prediction platform, believe there is a 60% chance that ETH will exceed $5,000 by the end of the year. Meanwhile, 36% of traders believe it could reach $6,000, and 24% predict a rise to $7,000.

Notably, BitMEX co-founder Arthur Hayes is more bullish about Ethereum’s price hitting $10,000 by the end of the year.

Meanwhile, BitMine’s projections suggest a much higher potential, estimating ETH’s implied price at $60,000.

Mentioned in this article

The top US-based crypto exchange by volume is announcing upcoming support for a low-cap artificial intelligence (AI)-powered decentralized finance (DeFi) token.

In a new announcement, Coinbase says that it has added Mamo (MAMO) to its listing roadmap, indicating plans to list the coin for trading in the future.

Mamo is a personal finance bot project that aims to boost user return on interest through tools powered by AI.

According to the platform’s whitepaper, the protocol:

“Creates calm, steady progress through thoughtful, risk-aware strategies

Explains everything in plain language, helping you learn as you earn

Keeps you in control. Add, pause, withdraw anytime. No lockups. No confusing rules.

Works quietly alongside your life, not demanding center stage.”

MAMO is the native token of the protocol. The MAMO supply is fixed at 1,000,000,000 tokens.

MAMO is trading for $0.166 at time of writing, up 16.3% on the day and over 111% in the last month.

Last week, two decentralized science altcoins faltered after gaining support from the top US-based crypto exchange platform by volume, Coinbase.

In a post on the social media platform X, Coinbase also recently announced the addition of two decentralized science (DeSci) protocols – Bio Protocol (BIO) and ResearchCoin (RSC) – to its suite of crypto products.

Following the announcements, the tokens both fell in price.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/vvaldmann

Crypto exchange-traded funds on U.S. exchanges recorded their strongest month ever in July, attracting $12.8 billion in net inflows as investor enthusiasm surged alongside rising token prices and optimism around regulation.

The data, reported by Bloomberg Intelligence’s Eric Balchunas, marks a new monthly record for the sector. The only month that came close was November 2024, when markets rallied on the election of Donald Trump, who was widely viewed as favorable to crypto interests.

This time, bullishness may be driven less by politics and more by fundamentals. The crypto market, as tracked by the CoinDesk 20 Index, jumped over 21% in July. Bitcoin

rose 7%, topping a new all-time high of $122,408 during the month.

Much of the action centered around BlackRock’s iShares Bitcoin Trust (IBIT), which has quietly grown into a financial giant. With over $86 billion in assets, IBIT now outpaces established ETFs like the S&P 500-tracking IVV and the Russell 2000’s IWM. The fund’s higher fee structure makes it more lucrative for BlackRock than even its flagship equity products.

These gains may be just the beginning. Earlier this week, the Securities and Exchange Commission approved in-kind creation and redemption for all spot Bitcoin and Ethereum ETFs, a technical change that’s expected to improve efficiency and appeal for institutional investors.

For large asset managers, in-kind redemptions let them swap crypto assets without triggering taxable events or facing liquidity crunches—making the funds easier and cheaper to manage at scale.

A market intelligence firm is warning traders that leverage is building up in Ethereum (ETH), creating volatility risk for bulls.

In a new thread on the social media platform X, the crypto analytics platform Altcoin Vector says that leverage risk is building within the second-largest digital asset by market cap despite ETH’s most recent price rise being backed by the spot market and exchange-traded funds (ETFs).

“ETH Futures OI (open interest) just hit a new ATH (all-time high) – double since May – and price is climbing with it. Unlike late 2024, this rise is backed by ETF inflows and spot momentum, but… OI at historic levels is a double-edged sword. Conviction is back, but leverage risk is building.”

Ethereum is trading for $3,771 at time of writing, a fractional increase on the day.

Moving on to Solana (SOL) challenger Sui (SUI), Altcoin Vector says that the layer-1 chain looks like it’s picking up momentum that could lead it to outperform Bitcoin (BTC) en route to a $5 price tag and beyond.

“ETH is leading, even outpacing BTC – but this phase of rotation is about spotting alts that don’t just catch up… they outperform. SUI fits that bill. High-beta, strong trader interest, and just pumped +10% in 24h. Momentum is awakening. Impulse hasn’t fully kicked in yet – when it does, $5 target is just the beginning.”

SUI is trading for $4.22 at time of writing, a 5.2% increase on the day.

Concluding its analysis with the top crypto asset by market cap, Altcoin Vector says that BTC’s latest dip shouldn’t be a concern.

“Bitcoin’s drop isn’t a breakdown, it’s a healthy correction. Structure remains bullish. Optimal signal was cooling but now shows the first signs of recovering momentum. BTC is holding above support, though we could still test $112,500. Momentum paused, but trend is intact.”

BTC is trading for $119,503 at time of writing, a fractional increase during the last 24 hours.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes more rallies are in store for two meme assets.

Pseudonymous trader Bluntz tells his 324,600 followers on the social media platform X that he thinks the memecoin Pudgy Penguins (PENGU) will rise about 66% from current levels before completing a five-wave surge.

Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally.

Says the trader,

“PENGU has been a standout leader over the last week, now looking like it’s in quite an obvious wave three to the upside here on the daily.

Anticipate this to test prior all-time highs and potentially beyond over the next month or so.

Has insane normie appeal and basically launched in a meme bear market, so it never had a proper price discovery run, but I think its time has come.”

Looking at the trader’s chart, he seems to suggest that PENGU will soar to $0.055. At time of writing, PENGU is worth $0.0327.

Another memecoin on the trader’s radar is Bonk (BONK), which he thinks is following in the footsteps of PENGU.

“From all the major memes, BONK and PENGU are two of the strongest that have taken out their major may high resistances already. Fortunately, PENGU is leading and showing the way for BONK over the coming weeks.

I am long both of these coins.”

The trader appears to be predicting that BONK will soar to $0.000043. At time of writing, BONK is trading at $0.00003.

As for the broader altcoin market, the trader says he’s keeping an eye on the Bitcoin Dominance (BTC.D) chart, which tracks how much of the crypto market cap belongs to BTC.

Bluntz hints that the bearish divergence on the Bitcoin dominance chart is now playing out, suggesting that altcoins are poised to rise faster than BTC in the current bullish environment.

A bearish divergence is a signal indicating waning momentum for an asset or index.

“BTC.D proper breaking down now, love to see it.”

At time of writing, BTC.D is hovering at 63.73%.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Author

Jimmy Aki

Author

Jimmy Aki

About Author

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news…

Share

Last updated: 

July 3, 2025

Uniswap ($UNI) climbed 15% this week, pushing past $7.73 as traders renewed their focus on the DeFi leader. The steady rise marks a clear recovery from June’s low of $6.26, supported by a consistent daily trading volume of over $350 million.

The upward move coincides with Uniswap v4’s strong adoption, handling billions in trades post-launch, while improving regulatory clarity draws more institutional attention to the protocol’s ecosystem.

From Regulatory Clarity to Record Volume: Why Uniswap Is Leading the Next DeFi Wave

Uniswap remains one of the most compelling DeFi protocols to watch and buy, thanks to its relentless pace of innovation and growing institutional interest.

Institutional investors are also flocking to the protocol. The January 2025 launch of Uniswap v4 marked a turning point. This upgrade completely redesigned the architecture by consolidating liquidity pools into a single PoolManager contract and adding ERC-6909 support.

The ERC-6909 token standard supports both fungible and non-fungible tokens, offering flexibility. Interestingly, “hooks” now allow developers to inject custom logic into pools, unlocking new layers of automation, risk management, and smart routing in DeFi.

The impact has been immediate. According to blockchain data researcher Sean Kennedy, Uniswap v4 has already crossed $1 billion in total value locked (TVL) and processed over $86 billion in trading volume within six months, indicating rapid adoption.

Beyond v4, Uniswap is also generating substantial on-chain revenue. As of mid-2025, it consistently ranks among the top fee-generating DeXs, with a 7-day average of approximately $2.3 million in daily fees, according to CryptoFees.

It remains the largest DEX by cumulative volume, surpassing $3 trillion in all-time trades across Ethereum and Layer 2 networks, including Arbitrum, Optimism, and Base.

Meanwhile, in a major policy shift, the U.S. SEC indicated in early 2025 that some decentralized protocols could be exempt from securities registration, offering regulatory breathing space for Uniswap and potentially sparking a “DeFi Summer 2.0.”

For investors, Uniswap is more than just a DEX. It’s the backbone of infrastructure for decentralized finance. Its technical superiority, expanding cross-chain reach, and favorable regulatory developments make it one of the most promising assets in the current crypto cycle.

V-Shaped Rebound or Bull Trap? $UNI’s 24% Surge Faces Key Test

The $UNI/USDT 1-hour chart presents a classic V-shaped recovery after a pronounced sell-off, now showing signs of near-term bullish exhaustion following its vertical rally.

From late June through early July, Uniswap consolidated between $7.00 and $7.30 before a steep sell-off on July 1 drove the price down to $6.26.

The subsequent rebound was explosive, as the asset jumped 24% to $7.74 in under 48 hours, forming a near-perfect V-bottom reversal. This suggests strong bullish momentum, likely fueled by short covering and opportunistic buying at oversold levels.

However, the recovery’s sustainability is now in question. The current session’s price ($7.684) sits just below the rally’s high ($7.745), accompanied by declining volume—a sign of fading participation.

The MACD (12,26) tells a similar story. While a bullish crossover initially supported the rally, the MACD line (0.108) has now dipped below the signal line (0.148), and the histogram (+0.140) is losing upward momentum.

The convergence of weak volume, bearish MACD divergence, and rejection near $7.75 suggests profit-taking or buyer fatigue.

A firm close above $7.8 with increasing volume could invalidate bull exhaustion, while a failure to hold $7.6 could open $UNI to a more substantial pullback toward $7.4, where dip buyers may enter.

While the V-bottom structure remains technically bullish, the confluence of weak volume, bearish MACD crossover, and rejection at highs warrants caution. Traders should await confirmation at the key levels above or prepare for a pullback to higher-probability support.