đź“Š Ethena’s ecosystem has had quite a year, and we may continue to see market caps grow for $ENA and $USDe. The latter has quickly risen to the #3 largest stablecoin in crypto. We discuss it all in our latest report in collaboration with @bybit_official:
Let’s dive straight into the five price zones that are more dramatic than a West End play.
This exodus, dear reader, coincides with Pi Network’s latest authentication update-a grand spectacle aimed at verifying the masses and fortifying the ecosystem. Lo, it appeareth this rollout hath restored faith in the hearts of the faithful, prompting a noble outflow of tokens from the clutches of exchanges.
Highly improbable. As witnessed in 2021 and 2023, these so-called “awakening” wallets didn’t cause much of a stir. Turns out, those were just some internal reorganizations. No drama, just a bit of housekeeping.
Bloomberg whispers that this program will span the globe, with a “trusted third-party” company holding the tokens-probably a sentient algorithm with a penchant for existential dread. 🧠💀
Enter the wise oracle of the crypto universe, a shadowy figure called Catonese Cat on X (yes, Twitter’s new name for “hot mess”), who points out the almighty enemy of Dogecoin’s happiness: the 0.886 Fibonacci level. Basically, that’s just a fancy way of saying “a stubborn wall just above $0.26,” which has been the kryptonite for any bullish dreams lately.
This week, Evernorth made headlines once again by announcing its latest adventure: a business combination agreement that promises to raise over a whopping $1 billion in gross proceeds. The goal? To create the largest public XRP treasury company on Nasdaq, under the flashy ticker “XRPN.” Because why settle for small change when you can aim for the moon?
Over at Polymarket, the crypto betting den where hope goes to die (or cash out), SBF’s pardon odds skyrocketed from a measly 5.6% to a slightly less measly 12% in 12 hours. 💸 Someone even dropped $302,090 on the idea, because apparently, throwing money at a sinking ship is still a thing. Another market asked if SBF would be out by 2025, and the odds jumped from 4.3% to 19.1% before settling at 15.5%. Spoiler alert #2: his appeal is moving slower than a dial-up connection. 📉
