

ENA Price Prediction: Ethena [ENA] Proposes New Developments, Will the Bulls Regain Control?
Ethena [ENA] launched six months ago at an ICO price of $0.57, shot to $1.46 in the first week. Since then, it has faced a bearish trend.
Ethena [ENA] launched six months ago at an ICO price of $0.57, which quickly rose to $1.46 in the first week. Since then, it has faced a bearish trend.
However, mid-September saw ENA break past its previous rejection level, reaching $0.413 – a solid 36% gain in just one week.
According to AMBCrypto, ENA’s next milestone is to retest the $0.46 resistance, contingent upon sustaining the upward trend.
Ethena proposes new developments
Ethereal Exchange has proposed integrating its DEX into Ethena’s hedging engine, sparking excitement in the market, evident by the 10% rise in ENA in the last 24 hours.
If approved, ENA holders would receive 15% of any potential Ethereal governance token.
In essence, this would allow the Ethereal DEX to manage on-chain spot and derivative positions backing USDe, Ethena’s native stablecoin, which is also expected to play a role in future developments.
Interestingly, a significant cluster of holders in net loss positions accounts for 85% of the total ENA allocations.
Per AMBCrypto, this concentration suggests that the majority of investors are holding at a loss, potentially awaiting a reversal or key developments to regain value.
Thus, while Ethena’s upcoming roadmap could boost liquidity in the network, it might fall short of sparking a sustained bullish rally. Unless…
Large holders support these propositions
Since Bitcoin’s bearish downturn in late August, Ethena has experienced a similar pullback, largely driven by large holders selling off.
Notably, whales – who make up 85% of this group and hold approximately 13.45 billion ENA – have been consistently selling portions of their holdings.
However, in the past week, net outflows from these holders have been increasing daily, reaching approximately 12 million just two days ago.
This suggests that these whales directly influenced the recent 36% surge in ENA, beginning their accumulation as Ethena reached its market bottom.
While this is a bullish sign, a retracement could occur if these whales start selling off again.
The above is the detailed content of ENA Price Prediction: Ethena [ENA] Proposes New Developments, Will the Bulls Regain Control?. For more information, please follow other related articles on the PHP Chinese website!

The value of blockchain-based U.S. Treasuries is closing in on a new milestone, with total holdings approaching $6 billion.

Canary Capital is looking to launch an exchange-traded fund (ETF) tracking the price of Tron's native token, TRX, according to a filing.

The stablecoin market has surpassed a total capitalization of $233 billion. Within this sector, Solana's stablecoins have reached a new all-time high market capitalization of $12.73 billion

Canary Capital is looking to get the U.S. Securities and Exchange Commission's sign-off for an exchange-traded fund that would track the Tron token TRX and has a staking component.

In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework.

Saylor's ideas centre on the fixed 21 million coin supply of Bitcoin. He presents this shortage as a revolutionary economic idea rather than only a technical one.

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

SublimeText3 Linux new version
SublimeText3 Linux latest version

SAP NetWeaver Server Adapter for Eclipse
Integrate Eclipse with SAP NetWeaver application server.

Dreamweaver CS6
Visual web development tools