Articles for category: Crypto

September 16, 2025

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Ethena Foundation Proposes Fee Switch Activation for ENA Holders

The Ethena Foundation has officially announced its intention to propose the activation of a fee switch for the synthetic dollar protocol, aimed at benefiting ENA token holders. This significant move is set to be deliberated by governance following the successful accomplishment of established metrics by the Risk Committee. The fee switch, originally introduced by Wintermute in November, would allocate a portion of the protocol’s fees directly to those holding ENA. The foundational metrics that need to be met for the fee switch activation have now been achieved. These criteria, detailed in previous communications, included achieving a circulating supply of USDe

September 16, 2025

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Citigroup Forecasts Ether to Fall to $4,300 by Year-End Amid Mixed Market Activity

Wall Street powerhouse Citigroup has recently published its latest projections for ether (ETH), predicting a decrease to $4,300 by the end of 2023. This figure represents a drop from the current trading price of approximately $4,515. This forecast, labeled as the bank’s base case, is part of a broader analysis that encompasses a wide range of potential outcomes. In addition to the bearish base scenario, Citigroup outlines a bullish case that sees ether potentially rising to $6,400. Conversely, the more pessimistic bear case anticipates a decline to as low as $2,200. Citigroup analysts attribute ether’s value primarily to network activity,

September 16, 2025

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Asia Morning Update: Bitcoin Steady at $115K Amid Mixed Market Sentiment

Good morning, Asia! Here’s a glimpse into the latest movements in the cryptocurrency markets as we kick off another day. Bitcoin (BTC) is currently trading just above the $115,000 mark, experiencing a slight dip after a strong start to the week. This minor decrease follows a significant influx of investments into U.S. spot exchange-traded funds (ETFs) and sustained optimism surrounding a potential interest rate cut from the Federal Reserve next week. The current Bitcoin price action has sparked a debate among traders: Is this rally solid, or is it precariously balanced? Analysts from Glassnode have pointed out signs of fragility

September 16, 2025

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Native Markets Secures USDH Stablecoin Contract on Hyperliquid, Emphasizing Agility Over Tradition

In a significant development within the decentralized finance (DeFi) landscape, Native Markets has emerged victorious in the competition to develop the USDH stablecoin for the Hyperliquid platform. This decision, confirmed by a community vote held on September 14, highlights a preference among validators for rapid innovation and ecosystem alignment over the pedigree of established financial institutions. Native Markets, a relatively new player in the crypto space, triumphed over well-known contenders including Paxos, BitGo, Ethena, and Frax. The proposal they submitted received overwhelming support from the community, securing approximately two-thirds of the staked HYPE tokens necessary for approval. As part of

September 16, 2025

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Native Markets Secures USDH Stablecoin for Hyperliquid Amid Governance Concerns

In a significant development for the decentralized finance (DeFi) landscape, Native Markets has emerged as the victor in the competition to issue Hyperliquid’s native stablecoin, USDH. This decision, reached through a community vote, indicates a preference for innovation and speed over the historical reliability associated with established firms. The announcement, made on Sunday, September 14, revealed that Native Markets successfully outperformed veteran competitors such as Paxos, BitGo, Ethena, and Frax. The selection was determined through a voting process that saw a two-thirds majority of staked HYPE tokens favor Native Markets. The team plans to initiate a limited testing phase for

September 16, 2025

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Major Moves in Crypto: Strategy Bolsters Bitcoin Stash, LSEG Launches Blockchain Platform, Thai Banks Freeze Accounts

Today witnessed significant developments in the cryptocurrency world, highlighted by Strategy’s impressive accumulation of Bitcoin, the unveiling of a blockchain platform by the London Stock Exchange Group (LSEG), and ongoing upheaval in Thailand’s banking sector. Strategy Expands Bitcoin Holdings to Over $73 Billion Strategy, the well-known business intelligence firm co-founded by Michael Saylor, has once again increased its Bitcoin reserves. The company recently reported the acquisition of 525 BTC for approximately $60 million, bringing its total holdings to 638,985 Bitcoin, collectively valued at over $73 billion based on current market rates. This move is part of Strategy’s long-running treasury strategy

September 16, 2025

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Ethena Foundation Proposes Fee Switch to Benefit ENA Holders

The Ethena Foundation, a nonprofit organization pivotal to the governance of the Ethena protocol, has announced plans to propose the activation of a fee switch within its synthetic dollar ecosystem. This initiative aims to allocate a portion of protocol fees to holders of the ENA token, marking a significant development for the community. The fee switch concept, initially introduced by Wintermute in November, has now gathered traction following the fulfillment of the Risk Committee’s success criteria. These benchmarks included achieving a circulating supply of the USDe stablecoin exceeding $6 billion, generating cumulative protocol revenues surpassing $250 million, and facilitating USDe’s

September 16, 2025

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Ethena Foundation Proposes Fee Switch Activation to Benefit ENA Holders

The Ethena Foundation, responsible for governance in the Ethena ecosystem, has announced plans to propose the activation of a fee switch for its synthetic dollar protocol, USDe. This initiative is set to redirect a portion of protocol fees to holders of the ENA token, marking a significant development for both the Ethena community and ENA investors. The proposal to activate the fee switch comes after the Risk Committee successfully met several predetermined success metrics. Initially suggested by Wintermute in November, these metrics included achieving a circulating supply of over $6 billion in USDe, cumulative protocol revenue exceeding $250 million, and

September 16, 2025

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Citigroup Predicts Ether (ETH) Could Slide to $4,300 by Year-End

In its latest market analysis, financial powerhouse Citigroup has provided a new forecast for Ether (ETH), projecting it could decline to $4,300 by the end of this year. This represents a drop from its current price of approximately $4,515, according to the bank’s evaluations. Citigroup’s analysis presents a broad spectrum for Ether’s potential performance, which includes a bullish outlook projecting a rise to $6,400 in the event of favorable market developments, contrasted by a more conservative bearish scenario placing Ether as low as $2,200. The bank’s analysts emphasize that ongoing network activity is a significant determinant of Ether’s value. However,

September 16, 2025

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Crypto Leaders Gather with US Lawmakers to Discuss Strategic Bitcoin Reserve Initiative

On Tuesday, a pivotal meeting will convene in Washington, D.C., featuring 18 prominent executives from the cryptocurrency sector, including Michael Saylor, chairman of Strategy, and Tom Lee, CEO of Fundstrat and chairman of BitMine. This roundtable discussion aims to strategize the implementation of President Donald Trump’s proposed Strategic Bitcoin Reserve. The event, organized by the advocacy group The Digital Chambers, will also include notable figures such as Fred Thiel, CEO of Marathon Digital Holdings (MARA). Together, they will explore legislative advancements related to the BITCOIN Act, a significant bill introduced by U.S. Senator Cynthia Lummis this past March. If passed,