Despite Ethena's growing role in stablecoins, its token ENA remains under $1 billion market cap with daily volume around $150 million. Recently, whales including BitMEX co-founder Arthur Hayes bought over 7 million ENA worth more than $1.2 million just before a large token unlock releasing 171.88 million ENA on August 5. This unlock adds to earlier releases that increased selling pressure, causing price consolidation near $0.09 with bearish technical signs and declining trading activity. If buying pressure holds above $0.0875, ENA could break higher; otherwise, it may fall back to $0.0789 support.
Ethena (ENA) led altcoin gains with a 12.1% price jump to $0.0886, driven by growing interest in its upcoming protocol upgrade. Other notable gainers included MemeCore (11.4%), Algorand (9.5%), Cardano (8%), and Avalanche (5.5%), reflecting varied in...
Bitcoin dropped 1.3% to around $63,870 and Ethereum fell 1.4% to about $1,890 as crypto markets faced pressure at July's end. This decline contrasts with gains in traditional markets like South Korea's Kospi and U.S. stock futures. Bearish signals fr...
A large investor staked 60 million ENA tokens worth about $4.73 million shortly after buying them, removing a significant portion from liquid circulation and signaling long-term confidence. Despite this, ENA’s price weakened, breaking below its ascen...
Large investors (whales) continued accumulating Ethena (ENA) tokens, withdrawing over 102 million ENA worth about $8.49 million from exchanges and moving many into staking. This reduced the liquid supply available for trading even as ENA's price slip...
