Ethena (ENA) continues to gain value despite Arthur Hayes’ sell-off. Analysts predict that ENA could see significant price appreciation. Strategic partnerships also strengthen Ethena’s market influence.
Ethena (ENA) continues to trend upward despite a major ENA sale by famous crypto investor Arthur Hayes. Hayes, after announcing his support for Ethena Labs, today unstaking 9 million ENA and sending 7 million ENA to Binance. In November, Hayes earned approximately $8.71 million by withdrawing 16.79 million ENA from Binance. Hayes currently has 9.96 million ENA, 7.94 million of which are staked. Hayes continues to sell despite the 78% return he made, despite Ethena gaining value.
Ethena has been a notable performer in the market, rising by 8.47% over the past 24 hours. During this period, while major cryptocurrencies Bitcoin ($96,316.9) and Ethereum ($3,334.2) have struggled, ENA’s value has steadily increased. ENA has recovered from a major drop of 34.62% and is currently trading at $1.08, ranking 43rd with a market cap of around $3.17 billion.
Crypto analyst Chill Trader predicts that ENA could gain 85.34%. Chill Trader noted that he saw a bullish cup-handle formation on the ENA/USDT chart, with support at $0.94. If this level holds, ENA is predicted to rise to $2.15. “There is a potential for an 85% upside if ENA holds the $0.94 support,” Chill Trader commented.
Additionally, Ethena’s strategic partnerships with Donald Trump’s World Liberty Financial (WLFI) and investment giant BlackRock are boosting ENA’s future growth potential. The partnership with WLFI enabled the use of sUSDe stablecoin as collateral on the Aave-powered DeFi platform. The collaboration with BlackRock focuses on risk management strategies to generate yield from treasury investments, especially in difficult market conditions. These partnerships are increasing institutional interest in Ethena, reinforcing its strength in the market. Ethena’s growing partnerships and the Trump-backed administration are increasing interest in ENA, indicating that the cryptocurrency will perform brightly in the near future.
Ethena inspires confidence in its investors with its resilience and strategic partnerships despite volatile market conditions. ENA’s strong fundamentals and supportive community promise sustainable growth potential in the crypto market.