Follow Us @
Ethena: Investor makes millionaire profit after 20% increase
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
THE investor Arthur Hayes, former CEO of BitMEXmade strategic moves involving its participation in cryptocurrency Ethena (ENA). After a 20% rise in the price of the currency, Hayes liquidated 10.36 million ENA tokens, generating around $7.49 million.
He previously acquired 16.79 million tokens at an average price of $0.666, securing an unrealized profit of $1.14 million, equivalent to a 10.2% increase in initial investment.
THE Ethena market has demonstrated significant strength, with the token being among the biggest daily gainers. In just one day, the price of ENA rose 10.27%increasing its market capitalization by 10.28% to more than US$2 billion.
THE trading volume followed this movement, recording an increase of 44.23%, indicating greater interest from institutional and retail investors.
Ethena on the rise
This growth reflects the optimism surrounding the project. On-chain data shows that the Ethena’s total supply is 15 billion tokensof which 2.84 billion are currently in circulation. With a robust volume/capitalization ratio, ENA consolidates its position as a promising and rising cryptocurrency.
Technical analyzes point to signs of possible correction. The ENA price chart reveals a “Rising Wedge” pattern, often associated with trend reversals. The Relative Strength Index (RSI) is at 61.31, indicating that the asset is close to the overbought zone, but still with room for a slight increase.
Current support is around $0.7054, while the upper resistance lies at the top of the wedge. If the price breaks the lower support line, a correction may occur.
On the other hand, if volume increases and price breaks above upper resistance, the bearish pattern would be invalidatedallowing the rise to continue.
With the project’s Total Locked Value (TVL) at US$4.09 billion, Ethena demonstrates stability and growth potential. However, the market remains attentive to technical fluctuations and the possibility of profit taking.
Recently, the Ethena platform, in collaboration with real asset tokenization company Securitize, launched a new stablecoin called UStb. The announcement brings a new perspective to the stablecoins market. After all, UStb will be backed by reserves invested in BlackRock’s Digital Liquidity Fund (BUIDL).
Ethena: Investor makes millionaire profit after 20% increase
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Ethena: Investor makes millionaire profit after 20% increase
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Ethena: Investor makes millionaire profit after 20% increase
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Ethena: Investor makes millionaire profit after 20% increase
