USDe has set a new industry record by hitting $10 billion in total value locked (TVL) in just 500 days, making it the fastest stablecoin in history to reach that milestone.

The protocol behind USDe, Ethena Labs, posted:

“everyone wants to know what we’d say if we didn’t reach $10b supply

i guess we’ll never know”

The GENIUS behind the rise of USDe

USDe’s rapid climb has coincided with the passing of the GENIUS Act, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, which represents the first comprehensive federal framework for stablecoins in the United States.

Enacted on July 18, 2025, it imposes strict new rules on issuers, including 1:1 reserve requirements in low-risk assets, robust federal oversight for large issuers, and strong consumer protections such as priority repayment rights in the event of failure.

The most impactful provision of the ACT, however, and the catalyst behind the rise of USDe, is the prohibition on regulated issuers paying yields on stablecoins, as CoinFund president Chris Perkins told CryptoSlate:

“Under GENIUS, stablecoins do not pay interest to end users, and without interest, stablecoins are depreciating assets. So, holders will seek yield. And that’s where DeFi comes in. If the Treasury Department’s projections are correct and trillions of stablecoins come into the system, expect DeFi summer on steroids as users seek to maximize yield by engaging across a variety of yield strategies. Users will be drawn to yield-bearing vaults, and they will commission AI agents to optimize their returns.”

This ban on yield payments is causing a profound realignment in the stablecoin market. Capital that once flowed to traditional, yield-paying stablecoins such as USDC has been seeking alternatives, and much of it has landed with USDe. As prominent crypto trader, Cas Abbé, pointed out:

“The reason behind this growth is GENIUS Act approval, which prohibit issuers to provide yields on stablecoins.

Due to this, big money has now shifted to $USDe which provides lucrative yield.”

DeFi yield opportunities fuel demand

Ethena Labs has been able to attract this demand thanks to continued yield offerings via decentralized finance (DeFi) mechanisms, which fall outside the restrictions placed on federally supervised issuers. The result is a massive inflow of institutional and retail capital, propelling USDe past many of its competitors. The ENA governance token has also experienced a price appreciation of over 100% in the past month.

USDe’s $10 billion milestone is a testament to how dramatically the GENIUS Act has reshaped the stablecoin landscape. While the law tightens controls and imposes new safeguards, it has also created opportunities for nimble, DeFi-native protocols to capture yield-hungry capital, proving that regulatory shifts don’t have to stifle innovation.

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Professional Capital Management founder and CEO Anthony Pompliano says that Bitcoin (BTC) has become the “greatest show on Wall Street.”

In a new interview with CNBC’s Squawk Box, Pompliano gives three reasons why BTC is leading the crypto markets to new all-time highs.

“First of all, welcome to The Greatest Show on Wall Street. I think Wall Street’s full, undivided attention is now on Bitcoin. And really, there are three things that drove this move.

The first is that there have been record inflows into the ETFs (exchange-traded funds). Last Thursday alone saw $1.2 billion—the second-highest day ever. Those ETFs now collectively have over $140 billion. BlackRock’s fund alone is now almost $90 billion. In about a year, they went from not having a Bitcoin ETF to having one of the top 20 largest ETFs in the world. So there’s a lot of inflows there.

The second thing is that the options expired at the end of Q2. So all that downward pressure on Bitcoin went away. That helps—kind of like a beach ball being pushed underwater. Obviously, it can pop back up.

And then the third thing is that there were a lot of short sellers. You started to see that build up, and as they got blown out as Bitcoin ran, you entered this price discovery phase. If you go back to November, we went from $70,000 to $90,000 in about two to three weeks. And $70,000 was a new all-time high.”

While not giving explicit price targets, Pompliano says that BTC is in for a “big move” now that’s broken the previous all-time high of $110,000.

“Well, what we’re watching now is that we’ve broken through that $110,000 range, which was the previous all-time high. I don’t know if it goes to $140,000, but it sure is going to make a big move here—because we are in a true price discovery phase.”

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Dogecoin’s recent price movement has been characterized by a prolonged downtrend from $0.25 since late May. For most of the last seven days, Dogecoin hovered just above the $0.18 mark, unable to generate any meaningful upward movement. However, within the last 24 hours, the price dipped below this level, momentarily breaching support before rebounding off the $0.17 zone.

The $0.17 price point is significant for Dogecoin, as it serves as a daily support level within a descending channel that has been suppressing the meme coin’s price action since December 2024.

Channel Suppressing Dogecoin Price, But Not For Long

According to crypto analyst MMBTrader, Dogecoin’s price action has been confined to a descending channel that has consistently limited every upward attempt since the start of the year. The resistance along the upper boundary of this channel has repeatedly rejected Dogecoin’s rally attempts, forcing it back into a lower high each time. However, the analyst believes this pattern may be nearing its end. 

The chart shared by MMBTrader shows Dogecoin is now on the path to testing the upper resistance of the descending channel once again. If the memecoin succeeds in breaking this pattern this time, it could trigger a heavy pump toward higher price levels. However, the current price action indicates that Dogecoin must first hold above the support level around $0.17. 

Away from this support level, Dogecoin also needs to break above the immediate resistance at $0.205 with enough conviction. Beyond that, a push towards $0.23 will be enough to break above this descending channel.

Upside Targets Stretch Toward $0.3 And Beyond

The chart above shows a speculative trajectory outlined in green. This trajectory illustrates a breakout above $0.205 and $0.23, followed by a march toward the support-turned-resistance level of $0.3. However, the breakout scenario hinges on Dogecoin clearing both the channel resistance and holding above the significant support at $0.17. 

The current setup indicates that a successful breakout above the descending channel could signal the beginning of an intense momentum wave. If this breakout is successful, the analyst points toward bullish long-term targets of $0.75 and $1, should the price manage to close firmly above the $0.40 zone. 

In the meantime, Dogecoin’s journey to new all-time highs looks very weak. At the time of writing, Dogecoin is trading at $0.1852, up by 5.2% in the past 24 hours. Trading volume is approximately $1.01 billion, representing a 50% reduction within the same timeframe. This divergence between price recovery and volume contraction indicates that buying conviction is still weak.

Even so, Dogecoin’s support around $0.17 continues to hold firm. As long as Dogecoin is trading above this price level, a break above the descending channel is still in play.

Featured image from Unsplash, chart from TradingView

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President Donald Trump’s family DeFi project, World Liberty Financial (WLFI), has officially concluded its WLFI token sale, which raised approximately $590 million, according to details shared on its website.

According to Satoshi Club, this achievement places it among the top ten largest token fundraising events in the crypto industry.

WLFI

WLFI has a total supply of 100 billion tokens, with 35% allocated for public distribution.

The token was designed to function as a governance asset for WLF’s upcoming decentralized trading platform. Holders will be able to vote on key proposals and participate in decision-making processes within the community.

The project launched its token sale in October 2024 with an initial allocation of 20 billion WLFI tokens. Each token was priced at $0.015 and available only to whitelisted participants. WLFI initially aimed to raise $300 million but revised the target to $30 million due to weak demand.

However, interest surged following Donald Trump’s 2024 election victory, resulting in all 20 billion WLFI tokens sold out by Jan. 20.

In response to increased demand, the project later released an additional 5 billion tokens for sale.

WLFI’s token-holding

Beyond its token sale, WLFI has been actively increasing its crypto holdings over the past months.

According to blockchain analytics platform Spot On Chain, the project recently spent $100,000 USDC to purchase 541,242 SEI tokens at $0.185 per token.

Currently, WLF holds 1.089 million SEI tokens, acquired for $225,000, now valued at approximately $207,000.

Since the market dip in late February, the project has invested $21.6 million in accumulating various cryptocurrencies, including Ethereum (ETH), Wrapped Bitcoin (WBTC), Movement (MOVE), and SEI.

According to Arkham Intelligence data, WLFI’s total crypto portfolio is valued at nearly $78 million. This includes 7,900 ETH worth $15 million, $14.82 million in USDT, and 162 WBTC valued at approximately $13.44 million.

Additionally, the project holds $9.4 million in staked Ethereum, $9 million in Tron (TRX), and substantial investments in Movement, Ondo, and Usacoin.

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The year 2025 has not exactly gone as planned for the crypto industry, as bearish pressure continues to envelop the market. Following the recent downturn that shook the crypto market, the Bitcoin price is now trading nearly 25% beneath its all-time high.

According to data from CoinGecko, the price of Bitcoin is down by roughly 12% in the past seven days. What’s worse is that the latest price data suggests that the decline might not yet be over for the premier cryptocurrency.

The Current Outlook For BTC Price

In a February 28 post on social media platform X, crypto analyst Ali Martinez put forward another bearish outlook for the Bitcoin price in the current market condition. According to the internet pundit, the price of BTC could fall towards $74,700 to find relief from the ongoing correction.

The rationale behind this prediction is the movement and the crucial nature of the 50-week moving average on the Bitcoin weekly chart. Martinez noted that the price of BTC historically tends to find support and bounce off above this long-term moving average.

Source: Ali_charts/X

As shown in the chart above, the Bitcoin price has experienced deep corrections in past cycles, which often bounces off the 50-week moving average. Most recently, the flagship cryptocurrency found support at the moving average in July 2021, rebounding to the then-all-time high of around $62,000 before reaching the $67,737 cycle top.

Going by this historical precedence, it appears that the Bitcoin price might be at risk of further downward movement, with the next support around $74,700. However, if this crucial support level holds strong, the market leader could bounce back to its previous all-time high price and even beyond.

On the flip side, if the price of BTC breaches the 50-week moving average to the underside, the premier cryptocurrency could be in for an extended correction period. Using previous cycles as a template in analyzing this bearish case, the Bitcoin price is at risk of commencing its bear market if it breaks the 50W moving average.

In the last cycle — after breaching the 50-week moving average, the price of Bitcoin declined from around $68,000 to beneath $17,000 — a 75% decline — in just about a year. However, it is worth mentioning that this downturn might have been exaggerated due to the collapse of Terra Luna and FTX exchange in 2022.

Bitcoin Price At A Glance

As of this writing, the price of BTC sits just above the $85,200 mark, reflecting no significant change in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView