$ENA Leaps 18% as Arthur Hayes Adds Millions – Can Bulls Breach the $0.68 Wall?
Main Idea
Ethena ($ENA) surged 18% amid whale activity and key developments, including a partnership with Anchorage Digital and a $360M capital raise, but faces resistance at $0.68.
Key Points
1. Ethena ($ENA) price rose 18% to $0.6864, driven by whale accumulation of 79.25 million tokens and Arthur Hayes adding 2.16 million $ENA to his portfolio.
2. Ethena Labs partnered with Anchorage Digital to launch its stablecoin, USDtb, in the U.S. market, marking a significant milestone.
3. StablecoinX Inc. announced a $360 million capital raise to acquire $ENA tokens, with plans to list its Class A stock (USDE) on NASDAQ.
4. Technical analysis shows $ENA facing resistance at $0.68, with a V-shaped recovery stalling and derivatives data indicating strong selling pressure.
5. Open interest and trading volume increased by 16.32% and 59.74%, respectively, signaling heightened speculative activity despite $3.94M in long positions being liquidated.
Description
Ethena ($ENA) shot up by 18.0% in the past 24 hours, trading at $0.6864 , as whales piled in. But with $4 million in longs gone, can the bulls survive a sell-wall showdown? This price jump comes after fresh capital and deals brought life back into Ethena, but charts now flash warning signs as the recovery cools and buyers lose steam. Source: CoinGecko Ethena’s Anchorage Deal Paves Way for Historic U.S. Stablecoin Launch The Ethena ecosystem uses a unique model that combines crypto assets and der...
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