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 at this time.
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 Despite Arthur Hayes Sale
Ethena (ENA) continued its upward momentum regardless of important promoting exercise by outstanding crypto investor Arthur Hayes.
According to SpotOnChain, Hayes unstaked 9 million ENA tokens and deposited 7 million ENA (value $8.44 million) to Binance earlier at this time, 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 mean worth of $0.666, totaling $11.19 million.
Arthur Hayes (@CryptoHayes) unstaked 9M $ENA and deposited 7M $ENA ($8.44M) to #Binance 45 minutes in the past, regardless of exhibiting help for @ethena_labs earlier at this time!
He beforehand withdrew 16.79M $ENA at ~$0.666 ($11.19M) from Binance between Nov 26 and 28, 2024 (tweet 👇).
He… https://t.co/XLxUd4NW1l pic.twitter.com/Ik8JBC25To
— Spot On Chain (@spotonchain) December 21, 2024
Currently, 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. Despite these developments, ENA’s worth has proven resilience, persevering with to rise within the face of promoting stress.
Ethena has been doing nice within the final 24 hours, up 8.47%, whereas main cryptocurrencies reminiscent of Bitcoin and Ethereum proceed to wrestle after a pointy market downturn earlier this week.
Even although it had a powerful rebound at this time, 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 latest prediction by crypto analyst and YouTuber Chill Trader. He shared a chart for ENA/USDT that indicated Ethena may surge by 85.34%. He highlighted a bullish Cup-and-Handle 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 Moving Average (EMA) at $0.63, properly under present ranges.
https://twitter.com/Chill_trader99/status/187000682226792866
For occasion, a drop under $0.94 would possibly push it additional right down to the decrease help line of $0.86. Chill Trader added that quantity is important, whereas sturdy shopping for quantity is required for a bounce off of help, and excessive promoting quantity would present a breakdown.
In addition to the bullish technical alerts, latest strategic partnerships add to the case for a possible surge in Ethena’s worth. The mission 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, due to this fact, getting loads of consideration within the circles of decentralized finance. On the opposite hand, 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.
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 way of life author for *Cosmopolitan* earlier than transitioning to enterprise and financial reporting for famend retailers like *Forbes* and *Bloomberg*.
Inspired 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. Known for her sturdy collaboration and communication abilities, Teuta additionally holds twin MAs in Political Science and Law.
Disclaimer: The introduced content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
