Altcoins News
By James Thorp
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TVL Breaks $10 Billion Milestone. The recent price rally comes as Ethena’s Total Value Locked (TVL) exceeded $10 billion for the…
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Supply Tightening and Whale Interest. Ethena is also seeing a tightening supply as the protocol conducts daily buybacks worth $5 million…
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Golden Cross Signals Bullish Momentum. From a technical perspective, ENA’s upward move has been supported by a classic bullish signal…
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Recent Price Action and Resistance Levels. On August 10, ENA surged 14.7%, climbing from $0.64 to $0.81.
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Ecosystem Expansion and Growing Market Activity. Ethena’s synthetic stablecoin USDe now operates across 23 blockchains, supported by LayerZero…
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Whale Accumulation and Fee Switch Activation. Notably, whale accumulation has intensified, with large holders increasing their stakes by more…
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What’s Next for Ethena?. If the bullish momentum continues, Ethena’s combination of solid technical signals, expanding…
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Conclusion. Ethena’s impressive 150% price surge in just one month, combined with its TVL surpassing $10…
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Ethena (ENA), a growing player in the cryptocurrency market, has caught the attention of investors with a remarkable 150% price surge over the past 30 days.
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Other technical indicators also support the bullish case. The Relative Strength Index (RSI) stands near 74, reflecting strong momentum without reaching extreme overbought levels.
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On August 10, ENA surged 14.7%, climbing from $0.64 to $0.81. This price move broke a bullish flag pattern, pushing toward a high near $0.85.
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If ENA decisively breaks above $1.00, it could trigger a further rally toward $1.25 and possibly $1.50. However, some short-term volatility could arise from $29.
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Key support levels to watch on the downside are $0.70, $0.56, and $0.47.
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Additionally, the derivatives market surrounding Ethena is expanding rapidly. Futures trading volume surged by nearly 42% to $4.35 billion, indicating strong trader interest.
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Notably, whale accumulation has intensified, with large holders increasing their stakes by more than 30% in the last week. This signals strong institutional confidence.
The Currency Analytics
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