Ethena's ENA coin and its associated USDe stablecoin have been experiencing substantial market activity. Following a period of intense crypto liquidation, USDe briefly lost its peg. However, rumors of breakthroughs such as Kraken listing the stablecoin as well as key financial institutions like M2 Capital and Changpeng Zhao's YZi Labs investing in Ethena brought welcomed reverse pressure to the markets. Ethena's price is persistently advised to break through the $0.55- $0.80 resistance line, with optimistic predictions even going as high as $7.
Notably, Ethena's USDe has become the third-largest stablecoin as its market cap surged by 75% to $9.3 billion in just three weeks. This achievement positions the stablecoin as a strong contender in the stablecoin market, particularly with its significant functionality within Ethena's blockchain ecosystem.
On the negative side, despite its performance improvements, Ethena has faced allegations that its USDe is not a stablecoin. The subsequent controversy, in addition to massive token unlocks, have created turbulence in the markets, leading to varying market predictions for the ENA coin.
Despite the challenges, Ethena remains geared towards expansion, securing multi-million dollar investments aimed at proliferating its digital assets. Notable moves include reaching a $360M deal with its crypto treasury, speculation of being listed on Coinbase, and partnering with the likes of Anchorage Digital and BlackRock. Amid enticing signs of growth, concerns persist of a looming all-time low.
ENA Coin News Analytics from Thu, 05 Jun 2025 07:00:00 GMT to Tue, 14 Oct 2025 16:15:52 GMT - Rating 6 - Innovation 8 - Information 8 - Rumor 0