⇗ Ethena Pulls Out of German Market Amid Regulatory Scrutiny; ENA Defends Support Levels Amid Predicted Price Recovery

Ethena (ENA) has pulled out of the German market following thorough scrutiny by regulators of the USDe stablecoin. This has seen the ENA price spending a considerable amount of time near the $0.5 support level, with experts speculating potential for a price burst. ENA price also seemed to defend its $0.37 support, thereby indicating chances for recovery. A $100 million finance foray fund was raised by the Ethena Crypto Project and the launch of the USDtb stablecoin, backed by BlackRock's $500 million BUIDL fund to offset the risks of USDe, was announced to reduce risks associated with USDe. The German regulator, however, ordered the immediate halt of the USDe issuance due to identified 'deficiencies'. ENA is oftentimes spotted with multiple buy signals even as the iUSDe launch nears. But ENA has lost key support, extending the price decline to 70% in 2025. An optimistic prediction is that ENA might hit the $5 mark by 2030. Despite nearing $6 billion in Total Value Locked (TVL), ENA's price isn't proportionally following this growth. The large token unlock amounting to $820M, which represents 66% of the circulating supply, could impact the price significantly. In institutional collaboration news, Securitize and Ethena introduced their institutional DeFi blockchain.

ENA Coin News Analytics from Thu, 22 Aug 2024 07:00:00 GMT to Tue, 15 Apr 2025 20:37:45 GMT - Rating 5 - Innovation 8 - Information -5 - Rumor -2