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ENA Price Surges Despite Arthur Hayes’ $8 Million Sale

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Ethena (ENA) didn’t let the numerous sell-off by Arthur Hayes deter its uptrend. Hayes, after publicly supporting Ethena Labs, unstaked 9 million ENA and despatched 7 million ENA ($8.44 million) to Binance right this moment.

He beforehand withdrew 16.79 million ENA from Binance in late November at $0.666 for an estimated $8.71 million revenue (+78%). Hayes at present holds 9.96 million ENA valued at $11.7 million, with 7.94 million tokens staked.

Ethena (ENA) Continues to Outperform the Market Regardless of Arthur Hayes Sale

Ethena (ENA) continued its upward momentum regardless of vital promoting exercise by outstanding crypto investor Arthur Hayes.

In response to SpotOnChain, Hayes unstaked 9 million ENA tokens and deposited 7 million ENA (value $8.44 million) to Binance earlier right this moment, even after publicly expressing help for Ethena Labs. This follows his earlier withdrawal of 16.79 million ENA from Binance between November 26 and 28 at a median worth of $0.666, totaling $11.19 million.

At present, Arthur Hayes holds 9.96 million ENA, valued at $11.7 million, with 7.94 million tokens staked. His strategic trades have earned him an estimated revenue of $8.71 million, representing a 78% return. Regardless of these developments, ENA’s worth has proven resilience, persevering with to rise within the face of promoting strain.

Ethena has been doing nice within the final 24 hours, up 8.47%, whereas main cryptocurrencies corresponding to Bitcoin and Ethereum proceed to battle after a pointy market downturn earlier this week.

Despite the fact that it had a powerful rebound right this moment, ENA beforehand skilled an enormous 34.62% fall from $1.30 on December 16 to $0.85 by December 20. The token has recovered excellently and is now buying and selling at $1.08. Having a market capitalization of about $3.17 billion, ENA is now the forty third largest cryptocurrency, exhibiting energy in a extremely risky market.

Ethena ($ENA) Poised for 85% Surge, Says Analyst

It appears Arthur Hayes didn’t hear current prediction by crypto analyst and YouTuber Chill Dealer. He shared a chart for ENA/USDT that indicated Ethena may surge by 85.34%. He highlighted a bullish Cup-and-Deal with sample, with key help at $0.94, which is at present being examined. If this degree holds, the analyst predicts a worth goal of $2.15, supported by sturdy momentum from the 200-day Exponential Shifting Common (EMA) at $0.63, properly beneath present ranges.

https://twitter.com/Chill_trader99/standing/187000682226792866

As an example, a drop beneath $0.94 may push it additional all the way down to the decrease help line of $0.86. Chill Dealer added that quantity is crucial, whereas sturdy shopping for quantity is required for a bounce off of help, and excessive promoting quantity would present a breakdown.

Along with the bullish technical alerts, current strategic partnerships add to the case for a possible surge in Ethena’s worth. The undertaking has partnered with Donald Trump’s World Liberty Financial (WLFI) and funding large BlackRock, signaling rising institutional curiosity.

Ethena’s partnership with WLFI brings the sUSDe stablecoin as collateral to its Aave-backed DeFi platform and is, subsequently, getting quite a lot of consideration within the circles of decentralized finance. Then again, BlackRock focuses on methods in threat administration for powerful markets with returns from treasury investments.

On December 16, they introduced USDtb, a brand new stablecoin backed by BlackRock’s BUIDL Fund, which was developed in collaboration with tokenization platform Securitize.

The rising buzz surrounding Ethena’s partnerships and the potential affect of a Trump-backed administration has sparked elevated curiosity in ENA, suggesting a promising outlook for the cryptocurrency within the close to future.

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Teuta Franjkovic

Teuta is a seasoned author and editor with over 15 years of experience in macroeconomics, expertise, and the crypto and blockchain sectors.

She started her profession in 2005 as a life-style author for *Cosmopolitan* earlier than transitioning to enterprise and financial reporting for famend retailers like *Forbes* and *Bloomberg*.

Impressed by thought leaders like Don and Alex Tapscott and Laura Shin, Teuta embraced blockchain’s potential, viewing cryptocurrency as considered one of humanity’s most transformative improvements.

Since 2014, she has specialised in fintech, specializing in crypto, blockchain, NFTs, and Web3. Identified for her sturdy collaboration and communication expertise, Teuta additionally holds twin MAs in Political Science and Regulation.

Disclaimer: The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.





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