Future

Show

USDe

Ethena

Coin

<p>Ethena (ENA), a new cryptocurrency project, is capturing significant attention from large investors, known as whales, as its price continues an upward trajectory. According to on-chain data analysis, whales have been actively accumulating and staking ENA tokens, signaling a bullish sentiment toward the project.</p>
<p>The catalyst for this increased whale activity appears to be the launch of Ethena’s Season 2 staking rewards program. As reported by <a href="https://twitter.com/lookonchain/status/1778031942950408645" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>, a blockchain analytics platform, since the program’s launch, 10 wallets have withdrawn more than 1 million ENA tokens (worth approximately $51 million at the time) from exchanges and staked them to earn rewards.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="739" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-1024x739.png" alt="" class="wp-image-472188" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-1024x739.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-300x217.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-767x554.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-1536x1109.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-2048x1479.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-208x150.png 208w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-100x72.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-485x350.png 485w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508-788x568.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-508.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>One particularly notable transaction came from a whale who withdrew 6 million ENA tokens (valued at around $8.58 million) from the Binance exchange and immediately staked them, becoming one of the top stakers within the Ethena contract. <a href="https://twitter.com/spotonchain/status/1777988611193094493" target="_blank" rel="noopener noreferrer nofollow">Spot On Chain</a>, another on-chain analytics firm, highlighted that this same whale had previously staked 8.96 million USDe tokens (a different cryptocurrency) just a month ago, demonstrating a strong commitment to staking activities.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="1006" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-1024x1006.png" alt="" class="wp-image-472180" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-1024x1006.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-300x295.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-768x754.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-1536x1509.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-2048x2012.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-153x150.png 153w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-100x98.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-356x350.png 356w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507-788x773.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-507.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The surge in staking activity coincides with a remarkable 10% price increase for ENA over the past day, defying the broader market downturn. In total, approximately 114 million ENA tokens (worth around $165 million) have been staked over the last two days, indicating a significant influx of capital into the Ethena ecosystem.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Staking refers to the process of locking up cryptocurrency tokens to support the network’s operations and earn rewards in return. It is a popular way for investors to generate passive income while contributing to the security and decentralization of blockchain networks.</p>
<p>While the bullish trend for ENA seems evident, one analyst, <a href="https://twitter.com/Zambo_001/status/1778069718278066322" target="_blank" rel="noopener noreferrer nofollow">Zambo_001</a>, suggests that the price may experience a retest or consolidation before continuing its upward move. According to their chart analysis, ENA could potentially retrace back to around $1 before surging to $1.8. At the time of writing, the price of ENA stands at $1.4.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="432" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-1024x432.png" alt="" class="wp-image-472196" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-1024x432.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-300x127.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-767x324.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-1536x649.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-2048x865.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-355x150.png 355w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-829x350.png 829w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509-788x332.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-509.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The influx of whale activity and staking participation highlights the growing interest and confidence in the Ethena project among large investors. As the project continues to roll out new features and incentives, the broader cryptocurrency community will be closely watching to see if this bullish trend can be sustained in the face of market volatility.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ethena-experiences-surge-in-whale-activity-and-staking-amid-bullish-trend-future-outlook-for-enas-price/" rel="noopener noreferrer nofollow">Ethena Experiences Surge in Whale Activity and Staking Amid Bullish Trend: Future Outlook for ENA’s Price</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethena Experiences Surge in Whale Activity and Staking Amid Bullish Trend: Future Outlook for ENA’s Price

Table of Contents

CaptainAltcoin

Andre artikler udgivet 10. apr. 2024

MANTRA Launches Hongbai Incentivized Testnet

How Bitcoin Halving 2024 Will Impact the Crypto Market?

Neo (NEO) Cryptocurrency News: Why This New DeFi ‘Social Trading’ Token Has Peaked Neo (NEO) Inve...

US Spot Bitcoin ETFs Attract Wealthy Indians Despite Central Bank Warning

Solana & Other Top Coins Lose Trading Volume, Market Interest Down?

Cryptocurrency Market Takes a Hit as Inflation Rates Surge Beyond Predictions

Join our free newsletter for daily crypto updates!