Big Moves for Ethena's $ENA Token: Ethena’s native token $ENA soared by 30%, hitting $0.51 after market maker Wintermute introduced a game-changing proposal. This initiative suggests distributing a share of Ethena’s revenue to sENA holders, aligning them with platform growth and directly benefiting from protocol fees.
🔹 Proposal Highlights:
Fee Sharing: sENA holders could soon enjoy a portion of Ethena’s protocol revenue.
Strategic Growth: Revenue distribution depends on reaching target levels for USDe circulation and overall protocol revenue.
💡 Market Reaction:
Price Spike: ENA’s price surged by 30%, outperforming most tokens in the last 24 hours.
Trading Volume: Up by 61%, reaching $482 million, showcasing heightened interest.
Open Interest: Spiked by 54%, signaling new positions and strong market confidence.
📈 Price Forecast:
If $ENA holds above $0.47, it could target $0.70 as its next resistance level.
A drop below $0.47 might lead to a pullback towards $0.32.
💭 Investor Takeaway: With rising discussions on the fee-sharing proposal and increased trading activity, ENA is on the radar as a potential investment opportunity. The proposal’s success could further solidify ENA’s upward momentum and align token holders with Ethena’s future success.
What’s your outlook on ENA’s rally? Drop your comments below!
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