Ethena, anticipated to rise by many, hit its peak value 18 days ago, reaching $1.52 at the start of the month. It remained a hot topic in the crypto market for days until it followed the downward trend caused by the overall market decline. Currently trading at $0.8759 with a market cap of $1,248,087,409, it holds the 70th position on CoinmarketCap and has begun regaining momentum today.
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The demand for Ethena is steadily increasing, with trading volume reaching $372,455,339, reflecting a 28% surge. The market appears neutral with minor fluctuations in a few meme coins. While the likelihood of an imminent market recovery is low, there's a high probability of altcoins seeing an uptick once the market stabilizes.