Ethena's digital currency ENA presents a roller-coaster ride of activity. It is stated that Ethena has secured a
$360M deal pushing ENA into a
crypto treasury trend. The announcement resulted in a
43% surge in ENA's value. This rise can be partially attributed to an impending activation of a
fee-sharing mechanism. In addition, financial enterprise
StablecoinX has also confirmed a
SPAC merger, raising $360M for the ENA Treasury and further boosting the value of ENA by
9%. They aim to build up the ENA treasury by acquiring ENA tokens. The initiative secured
$260M as it eyed a
NASDAQ listing. Jointly, ENA's market cap surged back above
$3 billion with a
20% increase in a single day. The
whale accumulation and
governance reinforcement sparked a more robust rally, with ENA's value climaxing by
50%. However, potential ENA
crypto unlocks might put a strain on the coin's valuation going forward.Considerable investments from notable influencers such as
Arthur Hayes fuelled significant market movements. As Ethena prepared for an upcoming
Coinbase listing, it attracted large investors, raising speculations of a benefical impact on the ENA price. Despite encountering resistance in some quarters, the resilience signified by ENA successfully defending its
$0.37 support level suggested the potential for a price recovery. Despite the massive
$820M token unlock and the
German regulator's prohibition on the sale of Ethena’s USDe, the company shows signs of buoyancy with ENA's
price prediction pointing towards an increase, providing a ray of hope for investors.
ENA Coin News Analytics from Fri, 15 Nov 2024 08:00:00 GMT to Wed, 23 Jul 2025 11:53:18 GMT -
Rating 8
- Innovation 6
- Information 6
- Rumor -4
