Bitcoin

Arthur

April

Ethena

The recently launched Ethena (ENA) token is making waves in the cryptocurrency industry with its impressive performance. It has been observed that in the last 19 hours, five crypto whales have withdrawn a massive 17.04 million ENA tokens worth around $22.77 million from Binance and staked all tokens with Ethena Labs. However, this massive ENA token withdrawal was caused by the Ethena community announcement on April 8, 2024. Why Ethena’s ENA price is increasing? 
On April 8, the Ethena Labs community announced that if users lock at least 50% of their total USDe holdings per wallet in $ENA, they’ll get their rewards increased by 50% and also receive maximum rewards per day compared to other pools. Additionally, in the last three hours, two more crypto whale wallet addresses, 0xd38 and 0x29f, withdrew a massive 8.592 million ENA tokens worth $11.8 million from the world’s biggest cryptocurrency exchange Binance, with an average price of $1.377. 
Besides this massive withdrawal, Ethena’s ENA token price massively increased by 18% in just 24 hours and also reached an all-time high of $1.40, although currently, it is trading near $1.32. If we look at the performance of the ENA token over a longer period, in the last seven days, the ENA token price experienced a massive 123% upside momentum, whereas, in the last 30 days, ENA token experienced a gain of 83%. 
Additionally, it is also observed that investors as well as traders are showing more interest in Ethena’s ENA token as its 24-hour volume has increased by nearly 95% and currently stands at $1.57 billion. Ethena’s ENA prediction by Arthur Hayes 
One more thing that also influences the price of the ENA token is the continuous support of Arthur Hayes, the co-founder, and ex-CEO of BitMEX. Following this token launch on Binance, on April 3, 2024, Hayes made a post on X (Previously Twitter) and predicted that the <a href="https://news.todayq.com/arthur-hayes-goes-bullish-on-ethena-expects-ena-to-hit-10/">ENA token price</a> would skyrocket to $10 by stating “ENA = $10.” However, when Hayes made the ENA prediction on X, during that period Ethena’s ENA token was trading at around $0.72, and since then, the price has soared more than 85%. 
This is not the first time when Hayes made predictions on any cryptocurrencies; his earlier predictions were on dowifhat (WIF), SLERF, Bonk (BONK), Filecoin (FILE), Bitcoin (BTC), and many others.

Ethena’s ENA price skyrockets 18% as whales increase staking

Todayq News

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