Markets Today: Bitcoin, Ether Hold Gains as Ethena Hits $11.9B TVL, Pudgy Penguins Race to F1

Futures positioning points to profit-taking in BTC and ETH as open interest falls, while DeFi protocol Ethena joins the $10B club and meme token PENGU secures high-speed exposure at the Singapore Grand Prix.

The global crypto market cap increased by 2% to $4.03 trillion, with bitcoin and ether gaining.

Futures open interest in major tokens decreased, indicating capital outflow and price losses driven by unwinding long positions.

Ethena surpassed $11.89 billion in TVL, highlighting growing interest in non-staking DeFi models $BTC #Market_Update