A company that is changing the way the world mines bitcoin

crypto.news 2025-01-02 17:54:21

Ethena price rises as Chainlink whale diversifies to ENA

Ethena price rises for two straight days as annual revenue increases and a Chainlink whale buys its token. Ethena ( ENA ) rose to an intraday high of $1.07, crossing the critical resistance level of $1 for the first time in over a week. According to LookOnChain, a whale converted 84,370 Chainlink ( LINK ) tokens, worth $1.9 million, into ENA tokens. The transaction likely indicates the whale’s expectation that Ethena will outperform Chainlink in the long term. It could also reflect a desire to diversify his portfolio. According to DeBank , the whale still holds Chainlink tokens worth $2.2 million. His portfolio also includes cryptocurrencies like Pepe, Auki, Music, Groyper, and Ethereum, with total holdings valued at $18 million. Ethena has established itself as a key player in the crypto industry, with its stablecoin, Ethena USDe ( USDE ) has accumulated over $5.8 billion in assets. It is the third-biggest stablecoin after Tether and USD Coin. You might also like: Ethena Labs proposes collab with Trump-backed WLFI USDE is often seen as a better – but riskier – stablecoin than the others because of its returns. According to its website , USDE has an annual yield of 10%, higher than the short and long-term bonds are offering. Ethena has also expanded its offerings. It launched USDtb in December, a stablecoin backed by Blackrock’s BUIDL Fund . The stablecoin has accumulated over $70 million in assets, making it a highly successful launch. Ethena has also become a highly profitable network. According to TokenTerminal , it made over $223 million in fees in just eight months. Ethena price has robust technicals Ethena price chart | Source: crypto.news The daily chart reveals strong technical indicators for ENA. The token has formed a bullish pennant chart pattern, characterized by a long vertical line and a symmetrical triangle. The triangle section also represents the handle of a cup and handle (C&H) pattern, which began forming in June last year. C&H patterns often lead to further gains, and in this case, its depth of about 80% suggests the coin could surge to $2 during the ongoing crypto bull run. You might also like: Why Ethena is pumping: Could it surge by 35%?

Наиболее читаемые новости

Another Cryptocurrency Case in the US Ends wi...
2025-01-06
CFTC Regulatory Case Against Gemini Ends in $...
2025-01-06
Dogecoin Whales Spark Excitement with Massive...
2025-01-06
Ethereum whales buy this potential 1,000x tok...
2025-01-06
ZachXBT calls 99% of AI agent tokens scams
2025-01-06
DOGE Speculation Soars as Leaked Code Hints a...
2025-01-06
Dogwifhat price prediction 2025 – 2031: Will...
2025-01-06
Filecoin’s Recent Gains Suggest Potential for...
2025-01-06

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения