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On Saturday, the PI Network token closed above the upper boundary of its horizontal channel, signaling a potential bullish breakout. 

Over the past 24 hours, improving market sentiment has fueled the altcoin’s rally. It has climbed 2% and looks poised to extend its gains further.

PI Breakout Sparks Optimism for Sustained Price Rally

Readings from the PI/USD one-day chart show that yesterday, PI’s price broke above the upper line of the horizontal channel. This channel had prevented any significant upward movement between August 2 and August 8.

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This breakout propelled PI to 16% gains during yesterday’s trading session. When an asset breaks above a key resistance line like this, it suggests renewed bullish sentiment and the possibility of a sustained rally. 

For PI, this breakout could mark the start of a stronger upward trend as traders gain confidence and momentum builds.

Strong Buying Interest Pushes PI Higher

Today, PI has maintained its rally, climbing by 2%. A surge in trading volume accompanies this price increase. Over the past 24 hours, it has jumped nearly 150% to reach $270 million by press time.

Rising price combined with increased trading volume like this confirms the strength of a trend. It indicates that more participants are actively buying, supporting the price movement and reducing the likelihood of a false breakout. 

For PI, the volume surge strengthens the positive momentum and suggests that the rally may continue in the near term.

Additionally, PI’s rally over the past two sessions has pushed its price above the 20-day exponential moving average (EMA), confirming growing demand. At press time, this key moving average forms dynamic support under the token’s price at $0.4038.

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When an asset’s price trades above its 20-day EMA, short-term bullish momentum is growing as buying interest surges.

This confirms the asset is in an upward trend and may continue to gain strength.

PI Rally Gains Traction, Eyes $0.52

If buying momentum continues, PI could extend its rally and attempt a break above the key resistance level at $0.4451. A successful breakout above this barrier may propel the price toward $0.5281.

Conversely, if traders begin taking profits, PI’s price could retrace to support near $0.3773.

The post PI Network Eyes Major Upswing as New Demand Emerges appeared first on BeInCrypto.

Ethena’s synthetic dollar, USDe, has hit a $10 billion market cap in just 500 days. The move cements its position as one of the fastest-growing stablecoins in crypto history.

However, there remains skepticism about USDe, with some analysts suggesting it may be the UST of this cycle.

Ethena and USDe Stablecoin’s $10 Billion Milestone Sets Stage for Next Growth Phase

Ethena broke $10 billion in TVL (Total Value Locked) on Sunday, nearly doubling in less than a month. The past week marked one of Ethena’s highest fee-generating weeks to date, and the protocol has generated over $475 million in fees.

The supply has doubled in the past month alone, a trajectory that has investors eyeing a potentially explosive next phase.

According to analyst Crypto Stream, ENA, Ethena’s governance and protocol token, may be on the verge of unlocking a powerful new revenue engine. Four of five governance-mandated conditions for activating Ethena’s fee switch have already been met.

Ethena’s governance framework outlines strict thresholds for fee distribution activation:

• USDe supply above $8 billion — met.

• Protocol revenue above $25 million — met, now over $43 million.

• Reserve Fund at least 1% of supply — met.

• sUSDe APY spread within the 5.0-7.5% range — met, currently around 10%.
• USDe integration on three of the top five derivatives exchanges — not yet met.

The analyst says this paves the way for protocol revenue to be distributed to ENA holders. The final hurdle is a listing on either the Binance or the OKX exchange.

“Fee switch turned on: Ethena is a revenue monster. At some point, revenue will be funneled into ENA,” Crypto Stream posted, calling ENA their largest spot position.

OKX and the Binance exchange remain the missing integrations. Regulatory issues under the EU’s MiCA (Markets in Crypto Assets) framework initially blocked Binance from listing USDe.

Details on the missing Binance integration:

USDE was not integrated into Binance due to a regulatory issue in Germany regarding MICA compliance.

The bad news is that: It seems the issue cannot be resolved, so USDE will not be able to operate in the EU market in the foreseeable…

— Crypto Stream (@CryptoStreamHub) August 10, 2025

Still, off-boarding EU users earlier this month may clear the path for a global USDe listing on popular exchanges.

Converge Could Transform Ethena Into a Yield Powerhouse

While the fee switch would mark a major milestone, some see an even bigger prize ahead. Analyst Jacob Canfield pointed to Ethena’s long-term plan to launch its blockchain, Converge, with ENA as the protocol token.

Introducing @convergeonchain: The settlement network for traditional finance and digital dollars, powered by @ethena_labs and @Securitize

Our vision is to provide the first purpose built settlement layer where TradFi will merge with DeFi, centered on USDe & USDtb and secured by… https://t.co/BdOMMflqNl pic.twitter.com/sYxS6p9T8W

— Ethena Labs (@ethena_labs) March 17, 2025

In this model, ENA holders could stake tokens to validators and earn a percentage of transaction value. This would turn ENA into a yield-bearing asset tied to the network’s economic activity.

Meanwhile, Ethena’s roadmap goes beyond crypto-native growth. Crypto Stream highlighted the planned Nasdaq listing of StablecoinX (TCO) in Q4, potentially giving institutional investors direct exposure to Ethena’s ecosystem.

StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol “USDE”, which includes a $60 million contribution of ENA from the Ethena Foundation… pic.twitter.com/sgfD8P9m05

— Ethena Labs (@ethena_labs) July 21, 2025

Circle’s past success with USDC demonstrates significant demand for regulated stablecoin vehicles from traditional finance (TradFi).

Meanwhile, Arthur Cheong, founder of DeFiance Capital, believes that large funds have underestimated Ethena due to its token unlock schedule.

“You guys simply have no idea how many funds… casually dismissed $ENA with one simple reason of ‘too many unlocks’ and ignored the potential growth ahead and the tier S execution of the team,” Cheong said.

However, despite all that, Ethena’s meteoric rise has drawn comparisons to Terra’s ill-fated UST, which collapsed in 2022.

It follows USDe becoming the third-largest stablecoin following the passage of the GENIUS Act. Critics warn that synthetic stablecoins face inherent fragility, especially in stressed market conditions.

However, Ethena’s founder, Guy Young, has countered by pointing to integrated risk controls and diversified DeFi collateral designed to mitigate de-pegging risks.

If Binance or OKX integration of USDe stablecoin occurs and the fee switch activates, Ethena could see protocol revenue redirected to ENA holders just as macro tailwinds align.

In such a scenario, lower Federal Reserve (Fed) rates, historically inversely correlated with crypto funding costs, could boost Ethena’s profitability.

The pieces may fall into place amid growing USDe adoption, a growing reserve, and the looming Converge chain.

As of this writing, Ethena was trading for $0.7759, up by over 3% in the last 24 hours.

The post Why Analysts are Calling Ethena (ENA) the Biggest Altcoin Bet This Cycle appeared first on BeInCrypto.

XRP price was at the cusp of a breakout after a multi-day climb, but the potential rally was cut short with FUD (Fear, Uncertainty, and Doubt), following a massive unlock.

Ripple executives attempted to assuage the situation, but clarifications have been insufficient to salvage the XRP price amid weekend volatility.

Ripple Unlocks 1 Billion XRP: All You Need To Know

Fear, uncertainty, and doubt spread across the XRP community on Saturday, following Ripple’s move to release 1 billion tokens from escrow.

According to Whale Alert, Ripple escrow unlocked 500 million, 100 million, and 400 million XRP tokens, three transactions worth $3.28 billion.

These tokens were previously held on Escrow as part of a 2017 protocol intended to stabilize market supply. The transactions turned heads, amid speculation that it would precede a sell-off.

“They want you to buy XRP while they sell it,” wrote CFA Rajat Soni, a popular user on X.

Soni’s comment, among others, alluded to Ripple manipulating its escrow release schedule. Meanwhile, XRP price had been on a bullish streak, drawing tailwinds from the positive break in its longstanding case between Ripple and the US SEC (Securities and Exchange Commission).

Against this backdrop, Ripple CTO David Schwartz moved to clarify the FUD, ascribing the escrow release to a routing activity.

“They always release on the first day of the month. You may not necessarily see any on ledger activity just because the escrow has released, though. The ledger doesn’t do anything by itself; it always waits for someone to submit a transaction to trigger it,” Schwartz articulated.

Community members indicated that Ripple escrow accounts have randomly released several contracts in the last two months.

Notwithstanding, Ripple’s escrow system is a longstanding subject for debate, with the firm holding a significant amount of XRP in the contractual arrangement. Data on XRPscan shows approximately 35.6 billion XRP still held in escrow after the August 9 release.

“…can Ripple manipulate the escrowed contract release date at any given point? So in theory, they could release the whole 36 billion XRP in the next 5 minutes?” one user posed.

Based on its working mechanics, Ripple’s escrow contract releases up to 1 billion XRP monthly, a system designed to avoid flooding the market.

It helps maintain the XRP price, and while the system is structured and predictable, individual transactions, particularly those displayed on the XRP Ledger, tend to move markets.

Ripple Price Outlook: How Are XRP Bulls and Bears Positioning?

Analysts say that the XRP price may be poised for a breakout on the higher timeframe. However, Ripple price appears to be cooling off on the one-day timeframe before the next move, with bulls already taking positioning.

Based on the bullish volume profiles (blue), bulls are waiting to interact with the Ripple price just above the demand zone between $2.9611 and $2.7354. This means the downtrend could continue another 5% to 7% before a possible turnaround.

The RSI (Relative Strength Index) indicator is also dropping, a sign of falling momentum. If the immediate support at $3.1061 fails to hold, the XRP price could drop until bulls have their say at the aforementioned level, with the demand zone offering significant support downward.

Conversely, increased buying pressure above current levels could cause the XRP price to resume its uptrend, potentially overpowering the bears (red volume profiles).

However, with the supply zone between $3.4000 and $3.5493 causing overhead pressure, bulls looking to take long positions on XRP should probably wait for a candlestick close above the mean threshold or midline of the supply zone at $3.4687.

A candlestick close above this level on the one-day timeframe could catalyze further upside, setting the stage for the Ripple price to reclaim its peak of $3.6607. Such a move would constitute a 7% climb above current levels.

The post Ripple’s $3.28 Billion Escrow Unlock Derails XRP Price Breakout appeared first on BeInCrypto.