Ether’s road to $5,000 looks clear, especially if TradFi adoption and spot ETH ETF inflows continue at their current pace. Key takeaways: Strong onchain Ethereum activity and treasury accumulation sustain Ether’s resilience despite validator queue exit pressure. Spot Ether ETFs' growth and declining exchange balances reinforce the bullish outlook, positioning ETH for a potential breakout. Read more
Spokespersons from Rena Labs told Cointelegraph that the recent MYX trading patterns suggested almost certain market manipulation. Trading of the MYX token, the cryptocurrency of the MYX decentralized exchange (DEX), featured hallmarks of market manipulation, according to a report from AI infrastructure company Rena Labs and market intelligence company Insider.Cash. The report analyzed over 9,200 minute-by-minute data points between Sept. 9 and Monday, which found 249 trading anomalies regarding illiquidity, volume spikes, price ratios and trade intensity. The researchers found that MYX liquidity anomalies on the Gate exchange spiked by 433% on Sept. 9, with a total of 32 illiquidity events on Sunday and Monday, signaling either intentional market manipulation or the exit of market makers, which provide liquidity and cushion markets during times of extreme stress. Read more
Ethena has partnered with Flowdesk to boost USDe and USDtb access, as USDe surpasses $14 billion in market cap and becomes the third-largest stablecoin. The rapid growth of the Ethena stablecoin ecosystem continued on Friday as Ethena Labs announced a partnership with institutional OTC desk Flowdesk, aimed at expanding access to its two tokens — USDe and USDtb. Flowdesk, whose clients include token issuers, hedge funds and exchanges, will support trading and reward programs tied to both stablecoins, the companies said. USDe is Ethena’s synthetic dollar, backed mainly by crypto assets and stabilized through a delta-neutral hedging strategy that keeps its value pegged to $1. Read more
The former SEC chair and Paul Atkins, the current head of the agency, both made media appearance this week to address significant policies proposed by US President Donald Trump. In one of his few media appearances since leaving the US Securities and Exchange Commission (SEC) in January, Gary Gensler suggested he had no regrets about his approach to crypto enforcement during his four years at the agency. In a Wednesday interview, CNBC’s Sara Eisen asked the former SEC chair to respond to the agency under Paul Atkins “reversing a lot of what [he] did” regarding crypto policies, saying many investors were “ecstatic” he was no longer heading the commission. Gensler said he was “proud” of his time at the SEC, that he had made the right decisions regarding regulating digital assets, and reiterated his assertions that crypto was a “highly speculative, very risky asset.” Read more
Bitcoin faced solid selling at $117,500, but the real test is whether bulls can maintain BTC price above $115,500. Meanwhile, most altcoins are expected to rise higher. Key points: Bitcoin faced significant resistance at $117,500, indicating that the bears are unlikely to give up easily. Several major altcoins tried to break above their overhead resistance levels, but the bears held their ground, signaling selling on rallies. Read more