Tether and LemFi, two financial juggernauts in different sectors, have announced a partnership. Tether, the issuer of popular stablecoin USDT, announced on Monday that it had invested in the fintech app used to transfer funds from Europe and the Americas to Africa and Asia.
The deal will embed USDT as a system for payments across LemFi’s operating regions, replacing slower bank-to-bank transfer chains with stablecoins and the blockchain.
The Tether-LemFi deal and what it means
Unlike conventional cross-border payment systems, stablecoin-based transfers allow funds to move directly across blockchain networks with fewer delays and lower operation costs. This model will enhance the speed and efficiency of international payments, especially in newly emerging markets.
According to Tether’s statement, the partnership is expected to support the wider adoption of Tether across LemFi’s platform, which could then extend the stablecoin-powered systems into other payment and financial service offerings.
The move reflects a broader trend among fintech firms and stablecoin issuers seeking to position blockchain infrastructure as an alternative to traditional banking rails for global payments, savings, and digital financial services.
The executives have their say
CEO of Tether, Paolo Ardoino, has said the investment aligns with Tether’s strategy of expanding financial access for its estimated 585 million users globally.
Ardoino framed the partnership as part of the company’s effort to strengthen the real-world utility of Tether by integrating blockchain-based settlement into everyday financial services, particularly in regions that rely heavily on cross-border payments and remittances.
“Our investment in LemFi reflects our shared vision on how money moves across borders, prioritizing speed, cost, and transparency,” Ardoino said in Tether’s announcement. “By supporting LemFi’s growth and innovation roadmap, we are helping bring the benefits of a stable digital asset to more people who rely on remittances in their daily lives.”
LemFi CEO and co-founder Ridwan Olalere called the deal “a validation of the direction we are heading.” Olalere added that integrating USDT into LemFi’s infrastructure “brings us closer to that reality” of a financial system that works regardless of where a user lives or sends money, according to Tether’s press release.
Neither company has disclosed the size of the investment.
How does this improve stablecoins’ standing?
For Tether, the LemFi deal extends the company’s push to position USDT as a practical payments infrastructure rather than just a trading instrument. The company reported $1.04 billion in profit for Q1 2026 and holds excess reserves of $8.23 billion, according to Binance Square. This financial position gives Tether capital to invest in distribution partners like LemFi that can help to put the stablecoin in front of non-crypto-native users.
LemFi, on its own part, gains access to Tether’s deep USDT liquidity pool and the technical backing to build a settlement layer on blockchain. The company described its customer base as consisting of “millions of people who live and work across borders,” many of whom, it said, have historically been underserved by traditional financial institutions.
Wall Street giant Goldman Sachs has made a notable shift in its crypto-related exchange-traded (ETF) fund positions, according to a recent filing submitted to the US Securities and Exchange Commission (SEC).
The update shows the firm exiting XRP- and Solana (SOL)-linked ETF exposure, while also trimming its Ethereum (ETH) ETF holdings. At the same time, the filing shows it opened a new position tied to one of the largest decentralized exchanges (DEXs).
Goldman Sachs Exits XRP And Solana ETFs
The story starts with Goldman’s XRP ETF exposure going into the end of Q4 2025. At that point, the bank held nearly $154 million worth of XRP-related ETFs from issuers including Bitwise, Franklin Templeton, Grayscale, and 21Shares.
Those holdings made Goldman Sachs one of the largest institutional holders of XRP ETF products at the time. The latest SEC disclosure, however, shows that its XRP ETF positions were removed entirely, reflecting a full exit during the first quarter.
A similar change appears with Solana-linked products. Goldman Sachs had previously disclosed that it held exposure across multiple Solana investment products, including the Grayscale Solana Trust ETF, the Bitwise Solana Staking ETF, and the Fidelity Solana Fund.
However, just like XRP, those Solana-related ETF positions also disappeared in Goldman’s Q1 filing. In other words, Goldman fully exited both XRP- and Solana-linked ETF holdings by the first quarter of 2026, with no remaining trace of those positions in the updated portfolio disclosure.
Even with these exits, Goldman Sachs did not leave the crypto ETF space entirely. The firm still held roughly $700 million in Bitcoin ETFs. Still, its posture toward Ethereum was more cautious: Goldman cut its Ethereum ETF exposure by about 70%, bringing the total down to approximately $114 million.
New Bet On Hyperliquid
What makes the change more interesting is that Goldman Sachs appears to be redeploying at least some of that capital into other parts of the crypto market.
Alongside the ETF reductions and exits, the bank opened a new position tied to Hyperliquid (HYPE). According to the filing, Goldman acquired roughly 654,630 shares of Hyperliquid Strategies (PURR), valued at about $3.3 million.
Beyond Hyperliquid, Goldman Sachs’ trading activity also shows a new wave of exposure across several crypto-linked equities. The bank increased positions in Circle (CRCL), Galaxy (GLXY), and Coinbase (COIN) shares.
At the time of writing, Hyperliquid’s native token, HYPE, was trading at around $45. It has been one of the best-performing tokens over the past month, with gains of 10% in the last two weeks alone.
Featured image created with OpenArt, chart from TradingView.com
Japan’s largest online brokerages are moving into digital assets. SBI Securities and Rakuten Securities are building in-house Bitcoin and Ethereum investment trusts for retail customers.
The shift could reshape how millions of Japanese investors reach crypto. Here is what the plan involves and why it matters now.
SBI and Rakuten Are Building In-House Bitcoin and Ethereum Bitcoin Investment Trusts in Japan
A crypto investment trust is a regulated fund that holds digital assets like Bitcoin, letting investors buy units instead of the coins themselves.
Today, most Japanese users still need a separate exchange account or wallet to buy crypto directly.
According to Nikkei, these trusts remove that friction. Investors could gain Bitcoin and Ethereum exposure through brokerage accounts they already use for stocks, bonds and funds. The product would feel closer to buying a mutual fund than trading on an exchange.
SBI Securities plans to sell products developed by group company SBI Global Asset Management. That firm is targeting roughly ¥5 trillion yen (nearly $32 billion), in assets within three years of launch.
SBI intends to manage the full chain internally, from product design to distribution.
JUST IN: Japan’s SBI and Rakuten are preparing to sell in-house crypto investment trusts for $BTC and ethereum:native exposure. pic.twitter.com/r9T9naxGqP
Both groups already run licensed exchanges, so the infrastructure and regulatory relationships are largely in place.
The momentum reflects clearer rules ahead. In a Nikkei survey of 18 firms, 11 others, including Nomura, Daiwa and Mizuho Securities, said they would consider entering once the regulatory framework is finished.
That response shows broad interest from TradFi, even before the rules are complete.
Nomura and Daiwa have signaled plans to develop crypto trusts once the framework becomes clear. SMBC Group has formed a task force, while Asset Management One under Mizuho has started early research.
Japan’s Financial Services Agency is driving this change. It is reportedly weighing rules that would let investment trusts and exchange-traded funds hold crypto under the Investment Trust Act.
Spot crypto ETFs could be approved by 2028, with analysts estimating the market could reach around 6.4 billion dollars.
🚨 JUST IN: Japan’s Financial Services Agency plans to allow crypto ETFs by 2028, with potential inflows reaching $6.4 billion, according to Nikkei. SBI and Nomura are preparing products. $BTC$ETH$XRPpic.twitter.com/fQr8Xvjtvd
Japan now wants to bring crypto closer to its mainstream wealth management industry.
For retail investors, that means familiar protections around custody, disclosure and reporting, handled through regulated financial groups they already trust.
The benefits are practical. Millions of people who already hold SBI or Rakuten accounts could add Bitcoin or Ethereum exposure without new signups.
There is no learning curve around exchanges and no anxiety about security breaches on unfamiliar platforms.
Comparison of Bitcoin and Ethereum price performance. Source: CoinGecko
The trade-off is real, too. Holding units in a trust means investors do not own the Bitcoin directly.
That structure adds management fees and counterparty considerations that do not exist with direct ownership.
Fees will be a key factor to watch. In the United States, competition among ETF issuers drove costs down quickly and boosted adoption.
How the FSA responds to filings, and what fees SBI and Rakuten attach, could shape how fast Japanese investors move in.
Ethereum (ETH) has now erased nearly all of the gains it posted earlier this month after facing renewed selling pressure across the market.
Its latest weekly sell signal has also raised concerns that another sharp corrective phase, similar to previous declines, could be developing.
Three Major ETH Downside Targets
Crypto analyst Ali Martinez flagged that a new weekly TD Sequential sell signal has appeared for Ethereum. The indicator has accurately predicted several major ETH moves over the past year, such as buy signals on April 14 and June 16, 2025, which were followed by rallies of 87% and 134%, respectively. Martinez also pointed to a sell signal on August 25, 2025, that “accurately timed” a 63% correction.
According to the analyst, if selling pressure increases, Ethereum could decline toward short-term support at $1,900, followed by mid-term and long-term downside targets at $1,565 and $1,090. He added that the $1,071 level, located near the bottom of a broader channel, appears to be a strong potential buying zone for Ethereum.
Santiment reported that Ethereum recorded its highest network realized profits in three weeks, as traders realized nearly $74.58 million in profits despite ETH’s correction. According to the on-chain analytics platform, the spike in realized profits was largely driven by holders who accumulated Ethereum earlier this year at much lower prices and are still selling at a profit during the recent decline.
The firm noted that ETH traded below the $2,000 level for much of February and March, a period when some traders continued accumulating despite broader market uncertainty and geopolitical concerns. Many of those wallets remain in profit even after the recent pullback and are now taking gains. The platform also highlighted increased on-chain transaction activity and price compression near the $2,240 level on four-hour charts, suggesting high distribution activity.
Higher transaction volume can lead to larger realized profit totals across the network, even when individual gains remain relatively modest.
Four Straight Days of Withdrawals
At the same time, US spot Ethereum ETFs have continued to see capital leaving the market over the past several days. Data compiled by SoSoValue revealed that these investment vehicles recorded four consecutive days of outflows this week. The funds saw $17 million in outflows on May 11, followed by a sharp $130.6 million withdrawal on May 12, which was the largest daily outflow level since March.
Outflows continued with $36.3 million on May 13 and another $5.65 million on May 14.
Ethereum has been moving sideways in recent weeks, leaving traders questioning why momentum keeps stalling despite multiple upward pushes. According to an analysis shared by an analyst on X, the answer lies in a specific technical level that the asset has repeatedly failed to reclaim.
Ethereum’s $2,450 Barrier
The recent price behavior of Ethereum can be traced to the market’s interaction with a resistance area near $2,450. In early May, the analyst outlined that this level functioned as a decisive confirmation point for bullish continuation. The structure suggested that if Ethereum could move above $2,450, even briefly, it would signal that the breakout from the current range was genuine.
In the chart shared at the time, the region around this price was highlighted as a critical reclaim zone. The analysis argued that once the price clears such a level, it becomes a strong directional signal for traders. Because the level lacked complicated confirmation requirements, even a quick move above it would have been enough to validate bullish momentum.
However, until that threshold was crossed, the analyst maintained a cautious stance. The reasoning was straightforward: markets often approach major breakout levels only to reverse if buying pressure cannot sustain the move. The repeated hesitation around $2,450 suggested that the upward move could still fail if the market could not overcome that barrier.
This framework also tied Ethereum’s behavior closely to that of Bitcoin. The analyst mapped the $2,450 level on Ethereum as roughly equivalent to a key resistance zone around $81,000 on Bitcoin. If Ethereum confirmed a breakout above that point, it would likely strengthen confidence across the broader crypto market.
Rejection Signals Downside Risk
Days later, price action delivered the scenario the analyst had warned about. Ethereum approached the resistance zone but failed to convincingly move above it. Although the market tested the area, it never produced the decisive wick above $2,450 that was required to confirm a reclaim.
Once the rejection occurred, the bearish scenario outlined in the earlier analysis began to unfold. Ethereum started to move lower, reinforcing the idea that the resistance had not been broken. The follow-up chart showed price drifting away, with the projected path pointing toward further downside if the market continued to lose momentum.
The outcome was also linked to Bitcoin’s movement. Because Ethereum failed to confirm strength at the crucial level, it suggested weakness across the broader market structure. That correlation was used to frame a short trade idea on Bitcoin around $82,300, based on the expectation that both assets would move lower together.
Technically, Ethereum remains in a distribution phase below resistance and is struggling to generate enough volume for a breakout. Until it decisively reclaims the $2,450 level, the analyst’s framework suggests the market could remain vulnerable to further pullbacks. In practical terms, the $2,450 level has become the dividing line between a renewed breakout and continued downside risk.
A joint collaboration between Tether, TRON and blockchain analytics firm TRM Labs called the T3 Financial Crime Unit has announced on Wednesday that it has frozen more than $450 million in USDT suspected to be acquired through illicit, criminal means since the initiative launched in September 2024.
The frozen funds by the crime unit involve investigations into various illicit operations including money laundering, crypto exchange hacks, North Korea-linked cyber operations, terrorist cells financing, drug trafficking, and violent crimes including kidnappings and extortion, according to a statement published by Tether.
The T3 FCU has enlisted the help of multiple law enforcement agencies in its fight against illicit activity in the crypto community. These agencies span five different continents, with countries like the U.S., Spain, Germany, the Netherlands and Bulgaria having the highest volume of assets frozen.
Tether’s T3 puts in the work
The T3 FCU reported that it helped in the recovery of 43.9% more illicit proceeds in 2025 compared to the previous year. The unit claimed it can execute asset freezes within 24 hours of a request by law enforcement regarding an investigation, a pace that traditional banks and services find hard to match.
The group pointed to several high-profile cases where it helped with asset freezing and recovery. One involved the freezing of about $26.4 million allegedly connected to a European money-laundering ring that was dismantled alongside Spain’s Guardia Civil in early 2025.
Another case was “Operation Lusocoin”, a Brazilian Federal Police investigation that froze more than 3 billion Brazilian reais in crypto assets, of which 4.3 million USDT linked to a criminal network was a part, according to Tether’s statement. Additional freezes targeted wallets tied to North Korean cyber activity and funds traced to the Bybit hack, with nearly $9 million in crypto funds identified.
In addition, Tether confirmed a $344 million USDT freeze on TRON in April 2026 following intelligence-sharing with U.S. and international law enforcement.
T3 FCU breaks higher ground amid international recognition
The Financial Action Task Force cited T3 FCU earlier this year as an “invaluable resource for law enforcement agencies worldwide.” The FATF highlighted the unit alongside TRM Labs’ Beacon Network as leading examples of public-private partnerships for combating criminal activity in the crypto community.
The recognition comes amid a sharp rise in illicit cryptocurrency activity, with blockchain-related criminal activity reaching a record $158 billion in 2025, according to estimates from TRM Labs. The figures underscore the growing pressure on stablecoin issuers and blockchain platforms to strengthen compliance frameworks as regulators intensify the crypto sector’s scrutiny.
“Compliance is not an option; it is a part of our commitment to protect our users and stop any illicit behaviors,” said Paolo Ardoino in the announcement. “This $450 million milestone is just the beginning of what T3 is capable of,” he added.
Chris Janczewski, who previously served as a special agent with the IRS Criminal Investigation division, said the initiative combines “real-time intelligence and expertise with coordinated public-private action to disrupt illicit activity as it happens.”
The comments reflect an intensified industry effort to ensure stronger oversight and enforcement capabilities.
Is crypto decentralization a myth?
The scale of the recent asset freezes has reignited debate over the level of control centralized stablecoin issuers retain within blockchain ecosystems that are often said to be ‘decentralized’.
Tether includes issuer-level controls that allow Tether to blacklist specific wallet addresses and freeze associated funds, which goes against the intent behind cryptocurrencies like Bitcoin.
According to onchain data compiled by BlockSec, more than $500 million worth of USDT was frozen over a recent 30-day period. This amount extends beyond the activity linked to the T3 Financial Crime Unit in the statement and proves Tether is doing even more blacklisting on multiple blockchains.
Our ENA price prediction expects a maximum of $0.82 in 2026.
In 2032, we expect the ENA price to achieve $7.38.
Ethena is a stablecoin project built on Ethereum that offers USDe, a fully decentralized coin pegged to the US dollar.
Unlike stablecoins such as USDC or USDT, USDe doesn’t depend on banks or centralized companies for reserves. Instead, it uses a cash-and-carry trading strategy to keep its value equal to the dollar.
For investors who prioritize decentralization, USDe could be an appealing choice — especially since it currently offers staking rewards above 9%. However, critics caution that since the project is still new, it’s uncertain whether USDe’s high yields and dollar peg can remain stable during a market downturn.
Based on these developments, we’ve compiled our Ethena price prediction from 2026-2032. In this article, we’ll find out “Will ENA reach $10?” and explore the factors behind ENA price prediction.
Overview
Cryptocurrency
Ethena
Ticker
ENA
Price
$0.13 (-2.3%)
Market cap
$917 million
Trading volume (24-hour)
$50 million
Circulating supply
8.49B ENA
All-time high
$1.52 (11 April, 2024)
All-time low
$0.09428 (24 February, 2026)
ENA technical analysis
Metric
Value
Current Price
$0.13
Price Prediction
$ 0.07926 (-25.13%)
Fear & Greed Index
40 (Fear)
Sentiment
Bearish
Volatility
11.29% (Very High)
Green Days
13/30 (43%)
50-Day SMA
$ 0.09998
200-Day SMA
$ 0.1973
14-Day RSI
45.85 (Neutral)
ENA price analysis
Resistance for ENA is at $0.1389
Support for ENA/USD is at $0.1267
The ENA price analysis for 11 May confirms that ENA witnessed bearish pressure as it dropped toward $0.13. However, the ENA price is preparing for a recovery rally.
Ethena price analysis 1-day chart: ENA price triggers bearish momentum
Analyzing the daily price chart of ENA tokens, ENA witnessed a bearish correction after sellers pushed the price toward support lines. Sellers are now aiming for a hold below the immediate Fib channels around $0.13. The 24-hour volume surged toward $24 million, showing an increase in trading interest today. Ethena’s price is currently trading at $0.13, which has dropped by over 2.3% in the last 24 hours.
The RSI-14 trend line has dropped from its previous level but hovers within the neutral region at 67, showing that bulls are controlling momentum. The SMA-14 level suggests volatility in the next few hours.
ENA/USDT 4-hour price chart: Buyers aim big above EMA levels
The 4-hour ENA price chart suggests that ENA experienced a bullish activity around EMA lines, creating a positive sentiment on the price chart. Currently, buyers aim for a strong rebound above the EMA20 trend line.
The BoP indicator trades in a bearish region at 0.39, suggesting that sellers are trying to build pressure near support levels and trigger downward correction.
Additionally, the MACD trend line has formed red candles below the signal line, and the indicator aims for negative momentum, strengthening selling positions.
ENA price predictions: Levels and action
Daily simple moving average (SMA)
Period
Value
Action
SMA 3
$ 0.1018
BUY
SMA 5
$ 0.1024
BUY
SMA 10
$ 0.1051
SELL
SMA 21
$ 0.1076
SELL
SMA 50
$ 0.09998
BUY
SMA 100
$ 0.1108
SELL
SMA 200
$ 0.1973
SELL
Daily exponential moving average (EMA)
Period
Value
Action
EMA 3
$ 0.1017
BUY
EMA 5
$ 0.1026
BUY
EMA 10
$ 0.1043
SELL
EMA 21
$ 0.1042
SELL
EMA 50
$ 0.1057
SELL
EMA 100
$ 0.1304
SELL
EMA 200
$ 0.1917
SELL
What to expect from ENA price analysis next?
The hourly price chart confirms bears are making efforts to prevent the ENA price from an immediate surge. However, if the ENA price successfully breaks above $0.1389, it may surge higher and touch the resistance at $0.1484.
If bulls fail to initiate a surge, ENA price may drop below the immediate support line at $0.1267, resulting in a correction to $0.1155.
Is ENA a good investment?
Whether ENA is a good investment depends on your goals and how much risk you’re comfortable with. Ethena has been ranked among the 100 cryptocurrencies. Still, there are questions about its demand, given its similarity to algorithmic stablecoins — a concept that lost trust after LUNA’s collapse in 2022. Even so, Ethena has shown strong performance during market surges, making it a solid project in the crypto market.
If you believe in the project’s future and don’t mind the ups and downs, it might be worth putting in a small amount.
Why is the ENA price down today?
ENA’s price gained selling pressure around recent highs, resulting in a strong downward push. This created a push toward $0.13.
Will Ethena price recover?
If buyers hold above the $0.15 level, we might see a comeback in buying demand.
Will ENA reach $10?
ENA price might reach the $10 mark in 2035 if buying demand surges and ENA attracts altcoin investors.
Will ENA reach $100?
The $100 mark is a distant dream for ENA. This price level is achievable in the long run if ENA continues to expand its offerings and attract buying demand.
Is Ethena a good long-term investment?
ENA has gained popularity due to strong community support. However, conducting thorough research into their long-term potential is crucial to determine if they represent a viable long-term investment.
Recent news/ Opinion on ENA
BlackRock sent a letter to regulators, defending a proposed rule that would limit tokenized reserve assets to 20%. It said this cap could impact its BUIDL fund, which supports Ethena’s USDe and Jupiter’s JupUSD.
Ethena (ENA) price prediction May 2026
Over the last few days, ENA prices have aimed to surge above crucial Fib levels. If the BTC price aims for a hold above $80K in May, we might see a solid surge in the ENA price.
According to technical analysis, the ENA price might record a maximum level of $0.17 and a minimum of $0.075, with an average value of $0.13 throughout May.
ENA price prediction
Potential low
Potential average
Potential high
ENA Price Prediction May 2026
$0.075
$0.9
$0.12
Ethena Forecast 2026
By the end of 2026, ENA price is expected to attain an average level of $0.64. The Ethena price prediction 2026 expects a minimum price of $0.06 and a maximum price of $0.82.
ENA price prediction
Potential low
Potential average
Potential high
ENA Price Prediction 2026
0.06
0.64
0.82
Ethena Price Predictions 2027-2032
Year
Minimum Price ($)
Average Price ($)
Maximum Price ($)
2027
0.9001
0.9258
1.1
2028
1.3
1.35
1.55
2029
1.98
2.03
2.31
2030
2.85
2.95
3.46
2031
4.26
4.37
5
2032
6.24
6.42
7.38
Ethena Price Prediction 2027
Ethena’s price forecast expects a minimum value of $0.9001 in 2027. The maximum value could be around $1.10, with an average trading price of approximately $0.9258.
Ethena Price Prediction 2028
Ethena’s price in 2028 is expected to reach a minimum level of $1.30 and a maximum level of $1.55, with an average forecast price of about $1.35.
Ethena Price Prediction 2029
The price of Ethena in 2029 is predicted to reach a minimum value of $1.98. It could rise to a maximum of $2.31, with the average trading price estimated at $2.03.
Ethena Price Prediction 2030
According to forecasts and technical analysis, Ethena is expected to reach a minimum price of $2.85 in 2030. The token could achieve a maximum level of $3.46, while the average trading price is projected to be around $2.95.
Ethena Price Prediction 2031
Based on in-depth technical analysis of past data, the price of Ethena in 2031 is expected to reach a minimum of $4.26. The maximum price could be $5.00, with an average value of about $4.37.
Ethena Price Prediction 2032
In 2032, Ethena’s price is forecasted to reach a minimum level of $6.24, a maximum level of $7.38, and an average trading price of approximately $6.42.
Ethena Price Prediction 2026-2032
Ethena market price prediction: Analysts’ ENA price forecast
Firm Name
2026
2027
Coincodex
$0.6829
$0.5555
CoinDCX
$0.8
$1
Cryptopolitan’s Ethena price prediction
At Cryptopolitan, we are bullish on the ENA price movements as the coin is expected to surge to new highs by the end of this year. By the end of 2026, ENA price is expected to attain an average level of $0.64. The Ethena price prediction 2026 expects a minimum price of $0.06 and a maximum price of $0.82.
ENA historical price sentiment
ENA Price History: Coinmarketcap
Ethena’s price history from mid-2024 to late 2025 shows a period of intense volatility marked by sharp fluctuations in both price and market capitalization. In early 2024, Ethena traded strongly, reaching highs around $1.20 in April, supported by high trading volumes exceeding $8 billion.
However, by mid-2024, the token began to decline steadily, closing near $0.38 by July as investor sentiment weakened and market activity cooled.
The latter half of 2024 saw further instability. Ethena’s price dropped as low as $0.20 in September, reflecting a major correction phase in the broader crypto market.
Despite these setbacks, the token demonstrated resilience, climbing back above $1.00 by December 2024. This late-year rally suggested renewed interest from traders and potential ecosystem developments.
In 2025, Ethena continued to experience wide swings. The token opened the year near $1.25 but faced sustained downward pressure through the spring, dipping below $0.30 by June.
A strong recovery followed in the third quarter, with prices surpassing $0.70 in August and stabilizing near $0.50 by October. Throughout this period, Ethena’s market cap ranged from $1 billion to over $5 billion.
In early November, the price of ENA declined toward $0.3. By the end of November, ENA declined below $0.23.
ENA ended December on a bearish note by trading around $0.2. By January 2026, the price of ENA dropped toward $0.13.
In February, the price of ENA dropped toward $0.1. ENA price declined further in March and touched a low around $0.08 in early April.
Tom Lee has projected that Ethereum could climb to $12,000 by the end of 2026, delivering one of the most bullish forecasts unveiled during the Consensus 2026 conference in Miami.
Speaking during a keynote session, the Bitmine Immersion Technologies chairman outlined an optimistic outlook for the broader digital asset market, while mentioning the firm’s ambitious strategy to accumulate 5% of Ethereum’s total circulating supply.
The company currently holds more than 5.18 million ETH, despite the position reportedly being associated with billions of dollars in unrealized losses.
The Ethereum prediction
Lee set year-end targets for both major cryptocurrencies at the conference. He projected Bitcoin (BTC) could trade between $150,000 and $200,000, while Ethereum could reach new all-time highs in the $9,000 to $12,000 range.
Lee based the outlook on his view that the prolonged downturn in crypto markets has ended. “Crypto Spring, in our view, has commenced, and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen,” he said at the Miami event.
He pointed to the capitulation among retail traders earlier this year as a contrarian signal. In March 2026, Lee argued that widespread “rage quitting” by retail traders was a classic indicator of a market bottom. “You know you’re at the end when people give up on Bitcoin,” he said.
He continues to believe the market would see an upturn in its fortunes in the very near future.
Bitmine’s ETH position
Lee’s forecast is closely tied to his role at Bitmine Immersion Technologies, where he serves as chairman. The company has increasingly drawn comparisons to Strategy because of its aggressive cryptocurrency accumulation strategy, though Bitmine’s focus remains firmly on Ethereum rather than Bitcoin.
Bitmine’s average acquisition price is estimated at approximately $2,206 per token. With Ethereum trading near $2,328 on May 9, the company’s holdings were hovering only slightly above breakeven levels.
Despite the recent stabilization in prices, the investment has come with significant volatility. In its latest quarterly filing, Bitmine disclosed roughly $3.78 billion in unrealized losses tied to its Ethereum position.
The company’s financial exposure has also drawn attention across the crypto community. Kalshi Crypto highlighted the gap between Lee’s bullish outlook and Bitmine’s balance sheet, noting that the firm’s Ethereum portfolio remained down by an estimated $6.3 billion at one stage.
JUST IN: Tom Lee says Ethereum will hit $12,000 this year
Lee’s track record of perpetual optimism has drawn criticism. Canadian billionaire and mining executive Frank Giustra, a long-time advocate for gold over crypto, called Lee’s forecasts “embarrassing to watch” on social media.
For ETH to reach Lee’s $12,000 target, it would need to rally more than 400% from its current price near $2,300. His $200,000 Bitcoin target would require BTC to roughly double from its level around $80,700.
The gap between Lee’s predictions and Bitmine’s current financial position remains a cause for central tension. If Ethereum continues to range or declines even further, Bitmine’s unrealized losses would deepen, and Lee’s credibility as both an analyst and company executive may drop. If the opposite happens, Bitmine’s early accumulation strategy would end up a stroke of brilliance.
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Binance will list MegaETH’s MEGA token on April 30, 2026, with spot trading set to open at 11:00 UTC. The exchange received no allocation or listing fee, drawing wide praise from analysts and founders.
Binance applied its Seed Tag to MEGA. Every major centralized exchange has now added MEGA without taking project tokens, a rare outcome for a Layer 2 (L2) launch.
Binance Joins MEGA Exchange Spread Without Tokens
Spot pairs including MEGA/USDC and MEGA/USDT went live shortly after the Binance announcement. Deposits and trading remain restricted in the United States, Canada, the Netherlands, and other jurisdictions for regulatory reasons.
MegaETH publicly committed earlier in 2026 to a no-pay listing policy. The team refused to send tokens for fees, liquidity rewards, or promotional airdrops.
The team argued that listings should follow merit and demand, not supply transfers.
“MegaETH has not, and will not, give away MEGA tokens as “fees or airdrops” to any centralized or decentralized exchange for a listing. If an exchange chooses to list the MEGA token, it is because they believe it is a strong project,” the team articulated.
By launch day, Coinbase, Bybit, Upbit, Bithumb, and Binance had each added MEGA without taking project tokens.
Smaller venues including OKX, Bitget, and MEXC also enabled trading. Community members called the spread a “royal flush” and a first for an organic Layer 2 listing run.
2x+ for ICO buyers 2.2x paper gains for those who locked for 12 months
Looks like @megaeth was able to pull the rabbit out of the hat with the royal flush of listing spreads: Coinbase, Bybit, Upbit, Bitthumb, and now even Binance.
Industry Figures Frame Listing as a Shift in Exchange Practice
Simon Dedic, chief executive at Blockhead Capital, said Binance “bent the knee” by listing without compensation. He framed the outcome as a positive signal for token founders weighing exchange demands during launches.
“Honestly, I wouldn’t have expected them to bend the knee and list it for free, so kudos to Binance here. Imagine being such a sought-after project that every major CEX lists you without receiving a single token,” wrote Dedic.
Analyst DeFi Ignas pointed out that Binance had previously committed to supporting builders with large communities. He argued that skipping MEGA would have contradicted that stance.
The general sentiment is that the launch is “substantive and principled,” given MegaETH’s avoidance of KOL payments, point-farming campaigns, and supply allocations to exchanges.
The project’s mUSD stablecoin and proximity market design are potential routes for the token to capture network value.
“It’s a rare sight in a space that rewards crime. Good to see good teams win. Hopefully an inspiration playbook for other quality projects to follow,” stated Grail.eth, a popular user on X.
MEGA Trades Near $2 Billion Fully Diluted Valuation
MEGA traded around $0.16 in the hours after the Binance listing announcement. The price placed circulating market cap near $190 million and fully diluted valuation around $1.7 billion. Total supply is 10 billion tokens.
— IAm⭕️hJay | Σ:(CTNG HOUSE) (@OhJay_001) April 30, 2026
Community responses pointed to compromised approvals or phishing rather than a protocol fault. Users urged claimants to revoke unused permissions before interacting with new contracts.
The MEGA listing run sets a precedent for other Layer 2 teams to point to. Whether future launches replicate the playbook may depend on whether their tokens see comparable demand.
Supply concessions have long shaped exchange decisions, and few projects have refused them.
Earlier this month, it seemed like Ethereum (ETH) was on its way to reclaim $2,500, but the bears intercepted the move.
Currently, the asset trades at around $2,300, and some analysts believe a more substantial correction could be knocking on the door. On the other hand, certain on-chain indicators suggest that the bulls might regain control in the near future.
Plunge on the Way?
According to X user Ted, the asset is “looking weak” right now. He claimed that Bitcoin has reclaimed its key level, while the second-largest cryptocurrency keeps getting rejected from the $2,400 resistance zone.
The analyst added that the major support zone for ETH is around $2,200-$2,250 and claimed that a drop to that range won’t be a surprise before a rebound forms.
Prior to that, Ted has been paying attention to the asset’s sideways movement lately. He predicted that this week would be “very crucial” for the market, citing uncertainty surrounding the ongoing peace talks between the USA and Iran.
“If Ethereum manages to reclaim the $2,400 level, it’ll tap the $2,470-$2,500 liquidity. And if it loses the $2,300 zone, a retest of the $2,150-$2,200 support level will happen quickly,” he stated.
Crypto Tony – a popular trader with almost 600,000 followers on X – also weighed in, saying they await a plunge to the support level of around $2,290, which could offer the opportunity for opening a possible long position.
The Indicators Point in a Different Direction
Contrary to the aforementioned skepticism, several metrics suggest that ETH could be on the verge of a price rally. First on the list is the Relative Strength Index (RSI), which has dropped to 30. This means that the asset has entered oversold territory and could be due for an upward move.
ETH RSI, Source: RSI Hunter
Next is the declining amount of ETH stored on exchanges. CryptoQuant’s data shows that the figure recently tumbled to a nearly 10-year low of approximately 14.47 million. This development is seen as bullish since it reduces the immediate selling pressure.
ETH Exchange Supply, Source: CryptoQuant
Last but not least, there is renewed interest from institutional investors. According to SoSoValue, spot ETH ETFs have seen significant inflows lately, indicating that pension funds, hedge funds, and other big players are ramping up their exposure to the asset, forcing the issuers of these products to back the purchased shares with actual Ethereum.
