The crypto market has started the week well, with Bitcoin and many altcoins beating the American stock market. Bitcoin price has held steady above $88,000, while the valuation of all cryptocurrencies has jumped to $2.75 trillion. This article provides the forecast of top altcoins like Reserve Rights (RSR), IOTA (IOTA), Pendle, and Solana (SOL).

Omni Foundation has launched a $10 million incentive program aimed at powering the next adoption of crypto.

Converge Blockchain:- Carlos Domingo, founder and CEO of Securitize, has announced the next step for their new EVM blockchain, Converge. Announcing in a X post, CEO Dormingo said that the to-be launched blockchain will leverage Arbitrum and Celestia tech to develop their RWA-focused chain.

Ethena Labs, the developer of the USDe synthetic dollar (USDe), and financial technology company Securitize, released a preliminary roadmap for their upcoming Converge network, a high-throughput blockchain focused on real-world assets and decentralized finance (DeFi). According to the announcement, a testnet will be live in the coming weeks, with a mainnet launch later in 2025.

TL;DR Converge, the upcoming blockchain developed by Ethena and Securitize, is scheduled to launch its mainnet by the end of Q2 2025. It will leverage Arbitrum's scalability technology and Celestia's data availability layer to deliver superior performance with low latency.

Decentralized finance (DeFi) protocol Ethena and tokenization firm Securitize said they will use part of Arbitrum's tech and data availability network Celestia for their real-world asset focused, Ethereum-compatible blockchain, aiming to launch mainnet in the second quarter of this year.

Top crypto prices remained under pressure this week as market participants focused on the ongoing trade war between the US and other countries. Bitcoin was stuck around $84,000, while the crypto fear and greed index moved to the fear zone of 25.

Due to regulatory pressure, Ethena GmbH, creator of dollar-backed stablecoin USDe, will end operations in Germany. BaFin is the German authority that enforces regulations.

Ethena GmbH has been ordered by the German Federal Financial Supervisory Authority (BaFin) to wind up its business related to the issuance of its USDe tokens.

Ethena Labs, the company behind the synthetic stablecoin USDe, announced on April 15 the closure of its German entity, Ethena GmbH, and the withdrawal of the application for authorization under the European regulation MiCAR (Markets in Crypto-Assets Regulation). The decision comes following an enforcement action by the German financial supervisory authority, BaFin, which has ordered the company to cease the public sale of USDe in German territory.

Alchemy Pay has partnered with Ethena Labs to enable direct fiat purchases of USDe and ENA using regular payment methods.

Ethena Labs has agreed to exit the German market after regulator BaFin cited "serious deficiencies" with USDe compliance.

Ethena Labs is officially closing its German branch and EU operations after a previous MiCA application rejection. For the past month, the firm has been preparing to withdraw from this market.

Ethena Labs abandoned its MiCAR application and shuttered its German operations following enforcement action by BaFin. The synthetic stablecoin issuer migrated users to its British Virgin Islands entity, avoiding European regulatory hurdles. The case shows how MiCAR regulation reshaped Europe's stablecoin landscape, with concerns about USDe's yield-bearing variant potentially qualifying as a security. The post Ethena Labs Exits Germany, Ends MiCAR Pursuit Following BaFin Agreement appeared first on Cryptonews.

Synthetic stablecoin developer Ethena Labs is winding down its German operations less than a month after regulators identified “deficiencies” in its dollar-pegged USDe (USDE) stablecoin, signaling heightened scrutiny around crypto assets in Europe's largest economy.Ethena Labs reached an agreement with Germany's Federal Financial Supervisory Authority, also known as BaFin, to cease all operations of its local subsidiary, Ethena GmbH, according to an April 15 announcement. Source: Ethena Labs As such, Ethena Labs “will no longer be pursuing MiCAR authorization in Germany,” the company said, referring to the Markets in Crypto-Assets Regulation.

TL;DR Ethena reached an agreement with the German regulator BaFin to shut down its operations in Germany, transferring all existing users to its entity in the British Virgin Islands. The decision follows a warning from BaFin about “serious deficiencies” in Ethena's USDe token. The price of the ENA token has dropped by 5.

In a surprising development, decentralized finance (DeFi) protocol Ethena Labs has announced via its official X account that the firm has reached an agreement with German watchdog BaFin to end operations in the country. The company also announced that it is withdrawing its MiCAR application in Germany.

Ethena Labs (ENA) announced it would no longer pursue MiCA authorization for the German market, instead stopping all minting and redemption activity for USDe originating with Ethena GMBH.

Ethena Labs, the team behind the synthetic stablecoin USDe, announced it has shut down its German subsidiary, Ethena GmbH. Ethena Labs will also no longer pursue regulatory approval under the EU's Markets in Crypto-Assets Regulation.

Decentralized finance (DeFi) protocol Ethena has agreed to wind down its operations in Germany.

IOTA has registered a 6% price increase in the past week, but is printing a potential bearish flip pattern that could see its price drop sharply. This price prediction for IOTA aligns with overall market weakness, where major cryptocurrencies are trading near key support or resistance levels.

Ethena, a synthetic dollar protocol, has partnered with the decentralized reinsurance platform Re to enable users to earn yield by depositing stablecoins into reinsurance risk pools.

Mantra is under scrutiny following the recent collapse of its OM token, which experienced a sharp decline on April 13.

Blockchain analysts have identified large-scale token transfers by major Mantra investors in the days leading up to the sharp collapse of the OM token, raising questions about insider activity and the stability of the project.Laser Digital, a strategic Mantra investor, reportedly cashed out large portions of Mantra (OM) tokens before the cryptocurrency collapsed on April 13, onchain data suggests. At least two wallets linked to Laser Digital were among 17 wallets that moved a combined 43.6 million OM tokens — worth about $227 million at the time — to exchanges before the crash, according to blockchain analytics platform Lookonchain, citing Arkham Intelligence data.

Update (April 14, 1:15 pm UTC): This article has been updated to add comments by Mantra CEO John Mullin from an AMA event hosted by Cointelegraph.Update (April 14, 4:33 pm UTC): This article has been updated with data from Arkham Intelligence.Mantra CEO John Mullin denied reports suggesting large-scale token transfers by major Mantra investors in the days leading up to the sharp collapse of the OM token, while speaking in an AMA hosted by Cointelegraph on April 14. “The Mantra association, our key investors, our advisers — no one has sold, and we are going to categorically deny and also provide verifiable proof onchain proof that this is the case,” Mullin stated in the AMA.

Ethena has surged by 6.67% in 24 hours, setting for a potential breakout from inverse head and shoulder pattern.

IOTA token price has moved sideways in the past few days as it formed a rare bullish pattern ahead of the Rebased upgrade. IOTA (IOTA) was trading at $0.1670, a few points above the year-to-date low of $0.1360.

Chiliz came to popularity as one of the pioneers of sports fan tokens that enabled fans to become a part of their favorite sports teams.

RedStone has expanded its support for Ethena Labs' stablecoins USDe and sUSDe to the BNB Chain, triggering a 14% price surge.

Bitcoin and most cryptocurrencies slumped on Thursday, with their total market capitalization plunging by over 5.7% to $2.6 trillion. Pi Network (PI) was one of the worst performers as it dropped to a record low of $0.

Ethena is facing a potential wave of sell pressure as 266 million ENA tokens are set to unlock in two phases, starting with the first $34 million unlock today. According to CryptoRank.io, Ethena (ENA) will unlock 94.

Cryptocurrency prices have slumped this year leading to a $1 trillion wipeout of their market value. Bitcoin has crashed from the year-to-date high of $109,300 to $85,000, while the market cap of all coins has slumped from over $3.8 trillion to $2.7 trillion today.

The stablecoin market has seen major shifts in March, with Ethena's USDtb breaking into the top 10 stablecoins by market cap, Tether losing 61% of market dominance, and EURC's market cap reaching a new all-time high.

Ethena Labs added another $225 million worth of BlackRock's BUIDL tokens on Mar. 25, according to Arkham Intelligence. Following this mint, Ethena (ENA) now holds a total of $1.29 billion in BUIDL tokens.

ENA rebounded from the $0.34 support level, but still requires a break above $0.5.

Many crypto tokens have recovered this week as investors moved back to risky assets. This surge has brought the cryptocurrency market valuation to nearly $3 trillion.

The crypto market is always full of surprises, and Ethena (ENA) is now at the center of attention. The token has been moving up in price, but recent selloffs and upcoming token unlocks have created uncertainty about its future.

Cryptocurrencies saw significant gains in the past day as Bitcoin approached the vital $90K. Ethena (ENA) capitalized on the bullish sentiments to extend its weekly gains by around 10%. The impressive recovery made most ENA holders profitable, according to IntoTheBlock data.

Despite Ethena price extending weekly gains to over 7% this Tuesday, Donald Trump's World Liberty Financial has rattled the crypto market with its ENA selloff spree. On-chain statistics indicated that Trump's World Liberty sold a whopping 184,000 tokens intraday, reverberating a bearish sentiment among crypto traders and investors globally.

Ethena Labs founder Guy Young has claimed that the synthetic dollar issuer is responsible for 95% of the recent growth in BlackRock tokenized US Treasury fund BUIDL. Young disclosed this on X while responding to the news that Fidelity wants to issue its own tokenized fund on Ethereum.

KuCoin has introduced new USDC trading pairs for Stellar (XLM), Toncoin (TON), and Ethena (ENA). Following the announcement, the prices of all three tokens saw modest gains as traders responded to the development.

Crypto prices held steady on Monday morning as investors cheered the new reporting on Donald Trump's tariffs. The reciprocal tariffs expected on April 2 will not include industrial sectors like automobile and microchips. As a result, Bitcoin jumped above $86,000, while Ethereum moved above $2,000.

ENA faces challenges, but could rally if it breaks resistance levels around $0.47.

Germany's financial regulator BaFin has imposed a ban on public sales of the USDe token from Ethena GmbH.

Ethena price remains concerningly eyed by crypto market participants against the backdrop of a severe bearish trajectory. ENA erased nearly 4% in the past 24 hours, in sync with a renowned market maker dumping over $10 million worth of tokens.

Germany's BaFin enforces a ban on Ethena GmbH's USDe Token sales, citing approval process flaws and MiCAR noncompliance. The regulator freezes assets and orders website shutdowns while secondary trading remains unaffected. The post BaFin Bans Ethena's USDe Token in Germany Over Approval Process Flaws appeared first on Cryptonews.

The German regulator stepped in to squash offerings of Ethena's USDe stablecoin, citing "serious deficiencies in the approval procedure."

Germany's Federal Financial Supervisory Authority (BaFin) has rejected Ethena Labs' application to issue asset-referenced tokens under the European Union's Markets in Crypto-Assets Regulation (MiCAR). The regulator also raised concerns that the sUSDe may constitute an unlicensed security offering.