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🔥 𝗘𝘁𝗵𝗲𝗻𝗮’𝘀 𝗡𝗲𝘄 𝗥𝗼𝗮𝗱𝗺𝗮𝗽 𝗨𝗻𝗶𝘁𝗲𝘀 𝗗𝗲𝗙𝗶, 𝗖𝗲𝗙𝗶, 𝗧𝗿𝗮𝗱𝗙𝗶 Ethena Labs presented its new roadmap, promising a convergence between DeFi, CeFi, and TradFi. Its synthetic stablecoin, USDe, aims to replicate what Tether’s USDT did in 2014 and MarkerDAO did in 2017. 🔸 𝗘𝘁𝗵𝗲𝗻𝗮’𝘀 𝗩𝗶𝘀𝗶𝗼𝗻: 𝗗𝗲𝗙𝗶, 𝗖𝗲𝗙𝗶, 𝗧𝗿𝗮𝗱𝗙𝗶 𝗖𝗼𝗻𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲 According to the DeFi protocol, USDe succeeds because its reserves represent more than double the open interest in each combined perpetual DEX. Ethena explained in its roadmap that it can provide valuable ‘non-toxic’ flows to exchanges DEX and CEX by using USDe as collateral and triggering open interest. It emphasized that they act as a neutral infrastructure, which has resulted in up to $1.25 billion in protocol allocation towards USDe. 💬 “As other stable coin issuers grow and proliferate through DeFi, Ethena will expand along with them. The foundation in the futures markets is higher real yields. USDe will be the core element on which these interest rate markets will be built,” Ethena said. After launching its roadmap, Ethena’s native token, ENA, soared more than 8%, rising from $0.85 to $0.93. ENA is in a bullish rally, having risen 18.22% last week and 47.24% since its launch, with a market capitalization of $1.41 billion. $ENA #ENA #Ethena

📉 Bitcoin Down 20% From March But Glassnode Analysts Are Very Bullish: Here’s Why Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic. 🔸 Bitcoin Drops 20% From March High, But Glassnode Is Bullish Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform confirms that the coin has improved with liquidity rising, reducing volatility.However, for bulls to find support and prices to rally, triggers would be from fundamental factors. Though price action structure might offer support, price catalysts are, as history shows, related to market events. As Glassnode observes, the robust macro trend, bullish for Bitcoin, has tapered volatility, helping maintain the uptrend. The increasingly shallow corrections, as the blockchain analytics platform notes, point to a more mature market backed by more institutions. 🔸 Whales Accumulating As Institutions Eye BTC Confidence remains high. On-chain data reveals that one whale has taken advantage of the relatively low prices and the correction to stack coins. In the last week, the whale bought over 100 BTC, pushing the amount of coins bought this month to over 7,257 BTC. This aggressive accumulation suggests that the whale, even at the current multi-year high, Bitcoin could be undervalued. There could be more Bitcoin tailwinds incoming. For instance, this week, former United States president Donald Trump started accepting crypto donations in the ongoing campaign. This shift of stance has been bullish since Trump dismissed Bitcoin earlier. While this happens, European regulators appear open to approving Bitcoin as an investable asset within Undertakings for Collective Investment in Transferable Securities (UCITS) funds. #BTC $BTC

🧐 Tesla Now Accepts Dogecoin, Could X Follow Suit? Elon Musk, a longtime supporter of Dogecoin (DOGE), has integrated the meme-based cryptocurrency into Tesla’s payment system. Customers can now purchase select merchandise using DOGE on the Tesla website. This move follows Musk’s acquisition of payment licenses for his social media platform, X, sparking speculation about DOGE integration there as well. Musk’s interest in DOGE dates back to 2019, and he has consistently advocated for its adoption. Tesla’s recent integration, while limited to merchandise, reflects this ongoing support. The company quietly enabled DOGE payments in early May, shortly after Musk expressed openness to the idea during a visit to a Tesla factory. This development coincides with X’s efforts to obtain payment licenses across the United States. With 25 licenses already secured and more on the way, X is building the infrastructure necessary for peer-to-peer (P2P) transactions, similar to Venmo or Cash App. Notably, Musk reportedly envisioned offering DOGE payments on a social media platform before acquiring X, suggesting a potential future integration. Further fueling speculation is a recent retweet by Musk. The post, featuring a comparison of the old X.com logo (a financial services platform founded by Musk) and the current X logo with the caption “The Everything App,” was retweeted by Musk with the cryptic comment, “The circle will be complete.” This suggests Musk’s desire to incorporate payments back into X, potentially fulfilling his vision of an all-encompassing platform. While regulatory hurdles could delay the arrival of DOGE payments on X, Musk’s determination to transform X into a comprehensive “everything app” suggests a future that includes digital currency transactions. The ongoing acquisition of payment licenses and his past comments regarding DOGE point towards a potential integration, though the timeline remains uncertain. $DOGE #DOGE #Tesla #Twitter

⚠️ Crypto Expert Reveals How To Find 'High-Risk High Reward' Meme Coins 🔺 Crypto trader highlights how traders should study market conditions before investing in meme coins. 🔺 He noted three waves to be identified before investing, in which wave the meme coin is in currently. What Happened: The researcher highlights the potential of meme coins with stories of individuals turning $1,000 into a million dollars within a month. However, the reality is often different with many traders buying a meme coin thinking they are early but they land up at zero. He cited the real example of someone who bought $600 worth of Pepe on the first day it was tradable, sold the same day for a $60 profit, but could have made $9 million if they had held on. He recommends having a combination of two approaches for playing the game well: 🔺 Meme coins tend to perform best during specific periods, such as Q1 2024 and Q2 2023. 🔺 Studying parabolic moves and adoption waves, as meme coins often experience explosive growth followed by steep corrections. He breaks down the adoption waves of meme coins into three distinct phases: 🔸 𝗪𝗮𝘃𝗲 𝗼𝗻𝗲: Riskiest but offers the highest potential rewards, early buyers positioned to make substantial gains. (Examples: Popcat, Grok, BOME) 🔸 𝗪𝗮𝘃𝗲 𝘁𝘄𝗼: More challenging, as traders must determine whether a meme coin will continue its upward trajectory or fade away. (Examples: Dogwifhat, Pepe, Bonk) 🔸 𝗪𝗮𝘃𝗲 𝘁𝗵𝗿𝗲𝗲: Least risky, as the meme coin is already established. Potential returns are lower compared to earlier waves. (Examples: Dogecoin, Shiba Inu) He cautions investors/traders of influencers and "shillers" who may have their agendas, but not to ignore them entirely, as they can provide valuable information. #meme #memecoins #memecoin

🔥 Cardano's Bullish Hourly Golden Cross; Will ADA Rally? Cardano (ADA) is currently showing signals of bullish potential as it posts a "golden cross" formation on its hourly charts. This development has sparked anticipation among traders and investors, prompting speculation about the potential trajectory of ADA's price in the near term. A golden cross occurs when a shorter-term moving average, typically the 50-hour moving average, crosses above a longer-term moving average, such as the 200-hour moving average, on a price chart. This crossover is interpreted by technical analysts as a bullish signal, suggesting a potential uptrend in the asset's price. In the case of Cardano, the recent bullish crossover on its hourly charts might suggest a shift in momentum toward the upside. This bullish formation reflects increasing buying pressure and suggests that ADA's price could be poised for significant upward movement in the coming days. However, it is important to note that while golden crosses can provide valuable insights into market sentiment and potential price trends, they are not foolproof indicators and should be considered in conjunction with other technical and fundamental factors. ADA was up 0.59% in the last 24 hours at the time of writing to $0.4575, having pared its intraday gains. ADA fell drastically on its hourly chart, forming a giant red candlestick at press time. Weekly initial jobless claims rose to their highest level since August 2023, impacting the financial markets with the U.S. inflation data for April due next week. As Cardano's community eagerly awaits further developments on the market, all eyes are on the charts to see if ADA can capitalize on the bullish golden cross and sustain its upward momentum. A breakout above key resistance levels could potentially signal a new bullish phase for ADA, while failure to maintain momentum could result in selling pressure. In this regard, a break above $0.684 might kickstart a fresh uptrend for ADA's price; on the other hand. $ADA #ADA #Cardano

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