Andrew Chen

6 days ago | chainaffairs.com | Andrew Chen |Joe M

Ethena [ENA] recently formed a bullish pennant pattern near the $0.38 resistance, often seen as a precursor to a breakout. This followed a sequence of higher lows and reduced volatility, suggesting consolidation after a rebound. However, a sudden 9.54% drop to $0.3525 shook bullish confidence. While ENA still trades above the $0.34–$0.35 support zone, momentum has visibly slowed. A decisive move above $0.40 may require a fresh catalyst—possibly tied to renewed user activity or ecosystem expansion.

6 days ago | chainaffairs.com | Andrew Chen |Joe M

BlackRock’s iShares Bitcoin Trust (IBIT) attracted $6.35 billion in net inflows in May 2025, marking its best month since launch. As Bitcoin’s price soared to an all-time high of $111,980, institutional demand surged, pushing IBIT’s assets under management (AUM) beyond $71 billion, according to data from Farside Investors. Institutional investors are increasingly embracing Bitcoin exposure through regulated exchange-traded funds like IBIT.

1 week ago | chainaffairs.com | Andrew Chen |Joe M

A key concern stems from the sharp rise in ETH reserves on Binance, now matching levels last observed before significant sell-offs. When exchange reserves increase, it often signals that traders are preparing to offload tokens, adding to sell pressure. Despite ETH managing to temporarily hold above $2,600, the surge in exchange-held tokens hints at mounting bearish sentiment. This trend is further supported by the latest Netflow data.

1 week ago | chainaffairs.com | Andrew Chen |Joe M

Cardano (ADA) has caught the attention of major crypto players. Over the past week, whales—those with substantial holdings capable of swaying the market—have accumulated more than 180 million ADA tokens. This buying frenzy comes at a time when the market remains volatile, and ADA recently dipped to $0.743 amid broader economic concerns. Despite this dip, the token showed signs of recovery, climbing to around $0.752—a modest 0.32% gain in the last 24 hours, though still down 6.16% over the week.

1 week ago | chainaffairs.com | Andrew Chen |Joe M

As Solana (SOL) closed May with modest gains and limited volatility, investors remain cautiously optimistic heading into June. Despite low institutional interest, retail accumulation and technical indicators suggest that Solana’s price may soon break out—if market conditions align. In May, Solana saw limited institutional inflows, raising concerns about long-term momentum.