🚨 The Daily Crypto Pulse: What’s Moving the Market Now

🔥 Trending

⚠️ Airdrop Sell-Off Sends Linea Token Crashing Nearly 85% in 24 Hours: What to Know?

Linea Token and Airdrop Launch Fails

The long-awaited Linea token finally went live yesterday with one of the biggest distributions of 9.36 billion tokens. Notably, these tokens are sent to 749,000 eligible wallets as rewards for their contributions to the ecosystem. However, the appreciation turned into a sell-off, with whales mass dumping the token and crashing it to an all-time low of $0.02238 hours ago.

Notably, similar to most tokens, the Linea price rose significantly and created an ATH of $0.1723 amid high demand. However, soon after that, the demand turned into a sell-off, crashing the tokens.

Currently, it trades at 85% down from peak, $0.02355, with $364.74M in market capitalization and $971.6M in trading volume.

🔍 Why Arthur Hayes Is Doubling Down on ENA $1M Surge

Arthur Hayes Timing: Hyperliquid’s USDH Vote

Currently, Arthur Hayes holds over 5 million ENA in his wallet, with a value of $3.91 million. The timing points to a very important event. On September 14, Hyperliquid will hold a vote to decide who gets the USDH stablecoin ticker. The prize is one of the most fiercely contested in DeFi. Athena receives backing from industry giants like BlackRock to compete against Paxos and Native Markets, among others.

Arthur Hayes holds over 5 million ENA in his wallet (Source: Arkham) In case the winning vote lands on Ethena, it could funnel 95% of USDH revenue to Hyperliquid and cover migration costs. Both platforms would win big.

Ethena’s Growing Role

Athena has grown to become one of the strongest DeFi protocols, having been founded in 2023. Its USDe stablecoin has attracted a Total Value Locked (TVL) of over $13 billion. The platform records a lifetime revenue of about $480 million, generating about $54 million in August alone. The recent Binance listing of USDe is expected to trigger Ethen’s “fee switch”. Hayes has suggested that this mechanism could lead to as much as $500 million in buybacks. This could result in a higher value for ENA, even nearing $1.50.

How is Ethena (ENA) Performing Today?

Ena token has dropped in value by around 7% over the past day, although it experienced weekly gains of 9%, to trade at $0.75 today. The price is down 50% from its all-time high it achieved in 2024. However, the Ethena project could benefit from the 50bps rate cut the Federal Reserve is eyeing, should DeFi experience a new capital flood.

📰 News

📢 Over $4 Billion in Bitcoin and Ethereum Options Expiring After US CPI

Bitcoin and Ethereum Options Expiry

More than 28,000 BTC options with a notional value of $3.22 billion expire on September 12, according to Deribit data. The put-call ratio is 1.23, indicating bearish sentiment among traders as put bets surprisingly rise while the price of BTC jumped above $114,000 after almost 3 weeks.

At the time of writing, put volume was 14,972 as compared to call volume 14,040, with a put/call ratio of 1.06. This signals that options traders are pessimistic about a further rally in Bitcoin.

Moreover, the max pain price is at $112,000. Options traders may look to bring BTC down towards the max pain point, with puts clustered around $100,000-108,000 strike price.

Meanwhile, over 185,000 ETH options with a notional value of $0.82 billion are set to expire on Deribit, with a put-call ratio of 0.97. A put-call ratio near 1 shows negative sentiment among traders.

In the last 24 hours, put/call ratio climbed to 1.50 as the put volume was significantly higher at 106,987 than the call volume of 71,691 at publishing time.

Moreover, the max pain price is at $4,400, still below the current ETH price of $4,435. Also, the $4,400 strike price has higher total call options bets of $37.51 million over $11.36 million in put options. This suggests a potential downward bias for ETH, as call buyers will likely aim to drive the price to the level that minimizes their losses.

🇺🇸 U.S. CPI Inflation Rises To 2.9% YoY, Bitcoin Reacts

U.S. CPI Inflation Comes In Line With Expectations, Bitcoin Reacts

Bureau of Labor Statistics data show that the CPI inflation rose to 2.9% year-over-year last month, in line with expectations. The monthly CPI data came in at 0.4%, just above expectations of 0.3%

The Core CPI inflation data were also in line with expectations, rising to 3.1% Y0Y and 0.3% month-on-month. This development suggests that inflation remains steady and supports a case for a rate cut at next week’s FOMC meeting.

The Bitcoin price had sharply dropped on the back of the CPI release, falling below the psychological $114,000 level. However, TradingView data shows that the flagship crypto has now rebounded and is again looking to break above $114,000.

The CPI inflation data is a positive for Bitcoin and other crypto assets, as the Fed is likely to make a rate cut next week. A rate cut is expected to boost risk-on sentiment and inject more liquidity into the market.

Meanwhile, it is worth mentioning that the PPI inflation data, which dropped yesterday, also strengthened the case for a Fed rate cut. The data came in way below expectations, suggesting that the Fed should be more worried about the weakening labor market than inflation.

The initial jobless claims data, which dropped today alongside the CPI inflation data, also confirms that the labor market is indeed weakening. The weekly jobless claims jumped to 263,000, against expectations of 235,000. This represents the highest figure since October 23, 2021.

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📊 Market

🔺 AVAX Price Prediction as Avalanche $1B Treasury Gains Momentum – Is $55 in Sight?

AVAX Price Action: Breakout From Accumulation Unlocks Higher Levels

The AVAX price has officially broken out of a prolonged accumulation phase, confirming a decisive shift in market structure. The AVAX current trading value of $29.15 sits just above the former range top at $27.58, which now acts as immediate support.

The breakout signals renewed bullish control, with higher targets at $35, $45, and eventually $55 as highlighted on the chart. The measured projection suggests a potential 100% rally if price sustains its trajectory.

Importantly, the Parabolic SAR indicator has flipped below the price, reinforcing the bullish setup. This signal highlights that short-term trend strength is aligning with the longer-term breakout pattern.

On the downside, $23.01 and $22.59 remain key fallback levels that would absorb selling pressure in the event of a retracement. However, continued holding above $27.58 could solidify this area as a new base for upward extension.

The AVAX price path shows gradual steps toward $35 before a sharper push higher, reflecting controlled accumulation and breakout behavior. This structure suggests that AVAX is entering a new market cycle phase with increased participation.

As such, the AVAX price prediction 2025 favors a gradual yet sustainable climb toward the $55 target if trend confirmation continues.

🔮 ETH Price Prediction As Bitmine and SharpLink Continue ETH Buying Spree- Analyst Predicts $7K Next

ETH Price Action Signals Breakout Toward $7K

The ETH current trading value stands at $4,411, holding firmly above previous resistance and signaling resilience. Ethereum price has cleared a multi-year consolidation zone, paving the way toward the next psychological test at $5,000.

Historically, such breaks after long accumulation cycles have preceded rapid expansions, which strengthens the overall bullish case. However, the chart also shows that resistance remains firm near $4,800, where prior rejections occurred.

A sustained hold above this level would confirm renewed conviction, while dips could retest $3,800 as short-term support. The outlined path highlights a cyclical pattern resembling 2017 and 2021, where euphoric rallies followed prolonged resets.

Therefore, the trajectory now suggests that Ethereum may be entering a comparable phase of vertical growth. If history rhymes, ETH price could move aggressively once the breakout stabilizes, and this aligns with the long-term Ethereum price forecast projecting a run toward $7,000.