⇑ Ethena (ENA) Coin Builds Bullish Structure amid Coinbase Listing Rumours and Whale Accumulation

Recent news about ENA Coin, also known as Ethena, reveals rising optimism, particularly due to supposed Coinbase listing speculation. A 'whale' has stepped in, purchasing $4.41M worth of the crypto asset. These rumblings already sparked an 8.6% price surge even before the coin's official listing. Ethena is also targeting a $0.34 breakout and has lofty ambitions of a potential $1 rally.

Moreover, Ethena has successfully defended its $0.37 support level pointing towards a possible price recovery. A technical analysis shows ENA building a bullish structure, indicating a potential breakout and sparking discussion of prices nearing $0.80. The robust culmination of these indicators suggests that ENA Coin could experience a fresh rally, possibly by 75%.

Consequently, Ethena is also gathering financial backing to facilitate its expansion. A funding round reportedly raised $100M to launch a new token. However, some challenges have emerged, with Germany forcing Ethena out over stablecoin concerns. Despite the setback, Ethena has announced plans to launch a USDtb stablecoin, backed by BlackRock's Tokenized RWA, to limit the risks associated with USDe.

Analysts have pointed towards multiple buy signals for Ethena as the release of iUSDe edges closer. Additionally, a significant price move in Bitcoin could benefit many altcoins, including ENA Coin, pushing their prices higher. The projected progress and thriving market sentiment paint a positive future for Ethena, despite a tumultuous crypto environment.

ENA Coin News Analytics from Fri, 22 Nov 2024 08:00:00 GMT to Wed, 04 Jun 2025 10:09:50 GMT - Rating 8 - Innovation 6 - Information 7 - Rumor 2