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đŸ’” According to NewsBTC: $ENA Crucial Role In Bitcoin Bull Market While Edwards’ statement is optimistic about Ethena’s impact on Bitcoin’s bull market, one user raised concerns about potential downsides. Edwards acknowledges that execution risks, such as custody failure or delta neutrality failure, could have adverse effects.  Edwards identifies custody risk as the most significant risk in this context. However, he highlights that any negative impacts will likely be short-lived, and market forces will ultimately dictate Ethena’s net annual percentage yield (APY). In short, by limiting over-leveraging in future markets and reducing spot supply, Ethena could significantly support the price of BTC and extend the current bull run. Currently, BTC’s price has experienced a significant decline, plummeting to the $68,800 level. This marks a 4.3% decrease compared to Monday’s price. In parallel, Ethena’s native token, ENA, has also followed the overall downtrend of the market, reflecting BTC’s price movement with a 4% decrease. Presently, ENA is trading at $1.22.

đŸ’” According to NewsBTC: $ENA Crucial Role In Bitcoin Bull Market

While Edwards’ statement is optimistic about Ethena’s impact on Bitcoin’s bull market, one user raised concerns about potential downsides. Edwards acknowledges that execution risks, such as custody failure or delta neutrality failure, could have adverse effects. 

Edwards identifies custody risk as the most significant risk in this context. However, he highlights that any negative impacts will likely be short-lived, and market forces will ultimately dictate Ethena’s net annual percentage yield (APY).

In short, by limiting over-leveraging in future markets and reducing spot supply, Ethena could significantly support the price of BTC and extend the current bull run.

Currently, BTC’s price has experienced a significant decline, plummeting to the $68,800 level. This marks a 4.3% decrease compared to Monday’s price.

In parallel, Ethena’s native token, ENA, has also followed the overall downtrend of the market, reflecting BTC’s price movement with a 4% decrease. Presently, ENA is trading at $1.22.

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đŸ’„ According to BeinCrypto: $MATIC Price Prediction At the time of writing, the MATIC price is observing a recovery, which will likely be fueled by Polygon investors themselves. This is because MATIC as an asset is undervalued, and in the macro timeframe, it is still a good bet.  The Market Value to Realized Value (MVRV) Ratio further substantiates this. The MVRV ratio assesses investor gains or losses, and Polygon’s 90-day MVRV hitting 10% indicates losses. This might possibly lead to accumulation. Historically, BTC tends to recover within the -14% and -31% MVRV range, labeling it an opportunity zone for accumulation. Secondly, the broader market cues are also bullish, as is evident in the Moving Average Convergence Divergence (MACD). MACD is a momentum indicator that utilizes the difference between two exponential moving averages to signal potential buy and sell opportunities in financial markets. MATIC price trading at $0.68 is above the critical support of $0.64, and based on the above-mentioned factors, a recovery is likely. However, this recovery might be halted by the resistance at $0.75. This price level has acted as the limit to MATIC’s rise for over a month. The support of $0.64, along with this resistance, has formed a consolidation zone, and the Polygon native token will likely remain within this zone. However, if MATIC’s price falls back down, it could potentially slip through the support zone. This would send the altcoin to $0.60, invalidating the bullish thesis.
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🚀 According to AMBCrypto: $SOL Prepares For More At press time, SOL was valued at $163.28, logging a 13% price rally over the last 24 hours. Its key technical indicators assessed on a 1-day chart confirmed the possibility that the altcoin may sustain this rally in the short term. First of all, signaling a hike in buying pressure, SOL’s Relative Strength Index (RSI) was on an uptrend with a reading of 59.20 at press time. Also, its Money Flow Index (MFI) was 55.29. The values of these indicators confirmed SOL traders’ preference for accumulation over selling off their holdings for profit. Furthermore, the coin’s Awesome Oscillator posted green upward-facing bars, confirming the bullish trend at press time.  This indicator measures an asset’s market momentum and identifies potential trend reversals in its price. Green upward-facing bars, often seen after a period of consolidation or a pullback, indicate that the buyers are taking control of the market and that the asset’s price rally might continue.  The coin’s Elder-Ray Index was also positive, lending credence to the aforementioned position. At press time, it had a reading of 23.59, showing that bull power was dominant in SOL’s market. Highlighting the growth in the bullish trend since the crossover, SOL’s weighted sentiment turned positive for the first time since 4 April too. In fact, according to Santiment’s data, the coin’s weighted sentiment was 0.263 at the time of writing.
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