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Cryptocurrencies Price Prediction: Ethena Labs, Cryptos & Bitcoin – American Wrap 26 September

Cryptocurrencies Price Prediction: Ethena Labs, Cryptos & Bitcoin – American Wrap 26 September
FXStreet TeamFXStreet TeamFXStreet

Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token

Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and function similarly to a traditional stablecoin.
 

Bitcoin (BTC) trades around $65,100 on Thursday, up 3% on the day. The move saw the largest cryptocurrency by market capitalization breaking a key resistance around $64,700. Bitcoin ETFs recorded a positive net flow of $105.9 million on Wednesday, extending their streak to five consecutive days of net inflows, per Farside Investors data.

Crypto losses year-to-date
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week. QCP Capital’s report highlights macroeconomic developments that could bolster risk assets like Bitcoin. At the same time, Ki Young Ju, founder of CryptoQuant, notes rising US dominance in BTC holdings and rebounding spot ETF demand, suggesting a potential rally in the coming days.
Bitcoin Spot ETF Holding 30-Day Change Chart
 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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