Tag: ethena
Ethena Labs Withdraws ENA Tokens, Raises Market Questions
The post Ethena Labs Withdraws ENA Tokens, Raises Market Questions appeared com. Key Points: Ethena Labs pulls $88. 67M ENA from exchanges, market remains uncertain. No public commentary from Ethena Labs’ leadership. On-chain data shows significant asset relocation without explanation. Ethena Labs has withdrawn 125. 35 million ENA tokens, worth approximately $34. 15 million, from Coinbase Prime and Bybit on November 26, as monitored by Onchain Lens. The substantial withdrawal of ENA, amounting to $88. 67 million in private wallets, raises questions about potential market implications, yet Ethena Labs has made no official statements regarding the activity. Ethena’s $88. 67M ENA Token Withdrawal Raises Speculation Ethena Labs transferred $28. 7 million from Coinbase Prime and $5. 45 million from Bybit to newly established wallets “0xa19” and “0x631”, respectively. These movements, observed by Onchain Lens, marked a total withdrawal of 305. 15 million ENA. However, there are no official statements from Ethena Labs regarding these actions, culminating in heightened market speculation. Though the market is observing these movements, the leadership at Ethena Labs remains silent on the matter. Liquidity for ENA on affected exchanges has declined, yet no updates have been provided by the platforms involved. No official statements have been made regarding the recent ENA withdrawals. Guy Young, CEO, Ethena Labs Lack of transparency from Ethena Labs is generating mixed reactions within the community, as well as from industry observers. Some traders and analysts have started questioning the long-term stability of ENA without direct guidance or reassurance from the project’s leadership. The absence of any formal remarks is fueling uncertainty regarding the potential motives and implications behind these withdrawals. Potential Regulatory Scrutiny Amidst ENA Token Movement Did you know? In December 2024, ENA had seen an unexpected surge after a similar unexplained withdrawal, reflecting how unforeseen movements can influence market perceptions significantly. The current data from CoinMarketCap highlights Ethena’s substantial market stance. Ethena’s (ENA) token is priced at $0. 28.
Ethena (ENA) Price Forecast, Is $0.51 the Next Target?
The post Ethena Price Forecast, Is $0. 51 the Next Target? appeared first price has been the rage of the crypto market today, with its 10% rally in a single day. The kind of price action that puts fresh focus on altcoin volatility. The rebound comes on the heels of Binance resolving a USDe de-pegging scare. This quickly restored faith in Ethena’s stablecoin and injected a wave of confidence across its ecosystem. Meanwhile, Ethena’s expansion into stablecoin-as-a-service on tube, placing it at the heart of Ethereum’s $4B+ rollup sector, has added real tailwinds. With the market cap at $3. 23 billion and trading volumes jumping nearly 74%, all eyes are now on how ENA handles crucial resistance and navigates the current market “Fear.” Ethena Price Analysis Today, ENA price trades at $0. 4509, just below its 24-hour high of $0. 4515, having bounced hard from a low of $0. 3804. The token recently sliced above the 7-day SMA at $0. 42, which is now acting as a key support zone. While the 30-day EMA at $0. 537 sits higher, Ethena faces its next challenge at the 38. 2% Fibonacci resistance ($0. 512). If buying volume keeps up and sentiment steadies, traders could set eyes on the $0. 512 to $0. 589 range for quick upward moves. But there’s a catch, the broader fear mood means momentum could turn fast. If ENA closes below its $0. 42 support, watch for profit-taking and short-term downside swings as uncertainty resumes its grip. FAQs Why did ENA spike so sharply this week? ENA jumped due to Binance successfully resolving a USDe stablecoin de-peg and Ethena’s product expansion, which revived confidence. What price levels should short-term traders monitor? Traders should watch for resistance at $0. 512 and $0. 589, with $0. 42 now a critical support. A close below $0. 42 may trigger selling,.
The New York Times
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