Ethena TVL Hits $7.7B as BlockDAG Mining Rewards Surge 10x Before Global Launch

Ethena (ENA), Cronos (CRO), and BlockDAG have become focal points in the crypto market, with Ethena securing a spot among the top 10 decentralized finance (DeFi) protocols globally. Ethena’s synthetic asset model has driven its total value locked (TVL) to approximately $7.72 billion, marking a 40% increase since July 1 [1]. The protocol’s synthetic dollar stablecoin, USDe, accounts for 73% of TVL, highlighting the growing demand for decentralized yield strategies. Meanwhile, the ENA token price has nearly tripled, rising from around $0.25 to $0.67 in early July. This momentum is further supported by rising trading volume and positive technical indicators [2]. The upcoming launch of Stablecoin X is expected to diversify collateral options and boost capital inflows, further enhancing Ethena’s market outlook [1].

Cronos (CRO) is also gaining traction, with its price breaking above $0.145 following a rebound from key support near $0.136 [1]. This rally coincided with Crypto.com’s partnership with Theta Network, which includes managing 15 million THETA tokens via institutional-grade custody. This development has elevated investor confidence in CRO’s institutional credibility. Derivatives data reveals that open interest in CRO futures surged from $29.5 million on July 8 to over $49.3 million, setting a new record [1]. Technical indicators remain bullish, with RSI near 77 and MACD showing a bullish crossover. If the $0.136 support level holds, the price could potentially move toward $0.171 [1].

BlockDAG, however, is generating the most intense market interest. A recent demo of its X1-X10 miner setup went viral after showcasing a tenfold increase in daily BDAG rewards, scaling from 20 to 200 BDAG [1]. The X1 app has attracted over 2.5 million active miners, and the project has raised more than $356 million in its presale, selling over 24.4 billion tokens and 18,800 miners [1]. Currently in Batch 29 at $0.0276, early buyers can still access coins at $0.0016 until August 11. With the launch price locked at $0.05, this pricing window offers up to 3,025% potential return. The project’s GLOBAL LAUNCH, set for August 11, will unveil BlockDAG’s full ecosystem, including its technology, development plans, and expanding utility [1].

While Ethena and Cronos continue to gain momentum in the DeFi and institutional spaces respectively, BlockDAG’s unique approach to scalable mining and mass adoption is setting it apart. With a presale that outperforms many of its peers and a growing user base, BlockDAG appears well-positioned to influence the next phase of crypto adoption in 2025 [1].

Source: [1] ENA Hits $7.7B TVL, CRO Breaks $0.14, & BlockDAG Delivers 10x Mining Boost Before GLOBAL LAUNCH Reveal (https://coinmarketcap.com/community/articles/688a4b54383a7848b877843a/)