Exploring ENA's upside potential after recent Trump-backed project move.

On Sunday, the crypto market economy has held steady at a whopping $3.66 trillion, climbing roughly 1.82% in the last day. Today's star performer is Ethena's ENA, which skyrocketed by 23.08% over the past 24 hours. Meanwhile, the Bitcoin-based meme coin known as dog go to the moon (DOG) has leaped 15.41%.

ENA, the native token of Ethena — an Ethereum-based synthetic dollar protocol — has experienced a 13% surge over the past 24 hours. This rally comes as the market awaits the launch of Ethena's new stablecoin product USDtb, on December 16.

Ethena price maintained a strong comeback as its assets jumped to a record high on the heels of Donald Trump's World Liberty Financial buying the token.

Skepticism around ENA could keep its price closer to its press time levels.

Ethena's USDe stablecoin recently surpassed Sky's Dai in market capitalization to become the third-largest stablecoin.

Ethena Labs is set to launch its synthetic stablecoin, USDe, on December 16, 2024, with its market cap already reaching $5.73 billion. Unlike traditional stablecoins like USDT or USDC, USDe is designed as a yield-generating asset rather than just a transaction tool.

Ethena Labs announced the launch of its synthetic USDe stablecoin on Dec. 16, 2024, as the token's market cap reached $5.73 billion, an all-time high.

ENA surges 18.05%, breaking key resistance and signaling potential for $1.53 target.

The CeDeFi stablecoin has attracted billions of inflows due to double-digit staking yields.

Ethena (ENA) has found itself caught in a price pullback after an impressive week of gains. Despite this temporary setback, the 52nd largest cryptocurrency by market cap is showing signs of potential recovery.

The crypto prices today showed bullish momentum, with Bitcoin trading above $100K. Major altcoins like Ethereum rose by 6%, while XRP and Solana gained 5% to 6%.

Ethena Labs is going through the most rapid expansion of the USDe supply in its history, boosted by bullish crypto sentiment.

The stablecoin market has crossed an impressive $200 billion in value, with the top three fiat-pegged tokens experiencing notable growth over the past month. Ethena's USDE has taken center stage, climbing over 89% since Nov. 9. USDE Supply Soars, USD0 Issuance Climbs a Staggering 91% As of Monday, Dec. 9, stablecoin data from coingecko.

After briefly reaching $1, ENA holders have started selling the asset.

Ethena (ENA) is catching the attention of investors and analysts alike. Over the past 24 hours, Ethena has surged by 12.61%, extending its 7-day rally to 34.22%.

The Ethena price rally is fueled by high demand for its USDe stablecoin, which has seen a 73% market cap increase in the past month.

Ethena's USDe stablecoin has grown to become the third-largest stablecoin with a $4.77 billion market cap through its high-yield strategy of offering 29% APY, surpassing DAI while attracting users who primarily hold the token for earnings rather than trading.

Ethena's synthetic USDe dollar has emerged as the fastest-growing USD-pegged stablecoin over the past 30 days after its market capitalization skyrocketed 73% to an all-time high of $4.77 billion. The surge has propelled USDe to become the third-largest stablecoin, surpassing DAI's $4.7 billion market cap.

TL;DR Ethena and Derive have integrated the USDe stablecoin as collateral for options trading, facilitating the creation of new products on Derive's platform. As part of the collaboration, a multi-million dollar grant will be awarded to Derive, and sENA holders will be able to receive 5% of the total supply of Derive's governance token, DRV.

Derive is getting set to launch its native DRV token on January 15, 2025.

This week in crypto promises to be eventful, with major developments expected to shape market sentiment. Ecosystems like Solana, Jito, Ethena, and Jupiter are set to make headlines with key updates.

Ethena Labs has officially submitted a proposal to include its upcoming stablecoin, USDtb, in Spark's liquidity competition.

Ethena and Securitize submitted a proposal for Spark's Tokenization Grand Prix, competing for up to $1 billion in liquidity with their USDtb stablecoin.

Stablecoin issuer Ethena has partnered with tokenization platform Securitize to submit an application to include the USDtb stablecoin in Sky's $1 billion tokenization contest.

TL;DR Ethena and Securitize have submitted their proposal to launch the USDtb stablecoin in the Spark tokenization competition, backed by BlackRock. The Tokenization Grand Prix will allocate up to $1 billion in liquidity to selected partners. The results will be decided by a governance vote from the token holders of the Sky ecosystem.

Ethena (ENA) recently drew new buyers, including Pantera Capital and crypto influencer Arthur Hayes. Ethena is facing favorable conditions, expanding the supply of USDe to 4.16B.

Arthur Hayes, the former CEO of the popular cryptocurrency exchange Bitmex, has made a significant impact on the digital asset world once again, this time with his strategic investment in the altcoin Ethena (ENA). Hayes' recent moves have sent the price of ENA soaring, marking a dramatic shift in the altcoin's market dynamics and fueling optimism for its future.

Stablecoin issuer Ethena is pitching its upcoming stablecoin USDtb for Spark's competition to bring $1 billion in tokenized assets to Sky.

The leading blockchain firm has been steadily increasing its ENA holdings over the last three weeks.

Based on current data, the stablecoin market has seen a notable expansion. This week, Ethena's yield-bearing token, USDE, has reached a peak valuation of over $4.12 billion. Ethena's USDE Tops $4.

Ethena has breached its most awaited resistance level, clearing the path for a 50% rally.

As technical indicators ring bullish, it seems this months 85% gain is just the beginning for Ethena, eyeing a $1 valuation. The post Ethena Showing Strong Bullish Signals, Up 85% In 30 Days: Can ENA and This New Meme Coin Reach $1 in 2024? appeared first on Cryptonews.

The digital assets landscape saw bullish actions today, with the global crypto market cap surging 1.78% to $3.32 trillion. The upside came as Bitcoin rebounded to a daily high of $97,357 early today. BTC changes hands at $95,650 at press time as enthusiasts await the highly sought-after $100,000 milestone.

Ethena (ENA), a relatively lesser-known cryptocurrency, is becoming the focus of major investors as its price dips. With the token losing 15% of its value in the last 24 hours, some investors see this as a prime opportunity to buy in at what could be a low point.

Ethereum Name Service (ENS) and Ethena (ENA) turned up as the biggest gainers in the crypto market over the last 24 hours while Bitcoin (BTC) took another chance to hit $100k. Major altcoins like Ethereum (ETH) and XRP also rallied over 4% as the market sentiments remained “Extreme Greed”.

With the Ethena market cap crossing about $2 billion, the ENA price has surged nearly 40% in the past seven days. Will this bullish recovery rally lead to a price surge beyond the $1 mark? Let's find out in our latest Ethena price analysis.

Hayes accumulation in the last few days have undoubtedly impacted ENA price.

With Ethena (ENA) soaring by nearly 36% in recent days, it's catching the eye of big players in the crypto world. Prominently Arthur Hayes, the co-founder of BitMEX, has made headlines by moving his holdings to ENA. He recently accumulated 16.79 million ENA tokens, valued at approximately $11.

BitMex co-founder and American entrepreneur has been on Ethena (ENA) accumulation spree in the past 48 hours. Lookonchain reveals that he shifted all his Aethir (ATH) assets to ENA amidst portfolio reshuffling. The move comes after ATH's performance went against his expectations, translating to massive losses holdings.

Bitmex co-founder Arthur Hayes is on an ENA accumulation spree driving more than 22% Ethena price gains in the last 24 hours. This comes as Hayes is reportedly moving all of his Aethir (ATH) holdings to Ethena (ENA) as part of portfolio reshuffling, after making heavy losses in ATH.

Ethena is a financial protocol built on the Ethereum blockchain, designed to provide a synthetic dollar solution that operates independently of traditional banking systems. Deribits USDe Integration Deribit, a top crypto derivatives exchange, plans to integrate Ethenas USDe stablecoin as margin collateral in early January 2025, pending regulatory approval.

ENA's price action on the charts depends on a few key factors.

Deribit has integrated Ethena Labs' USDe as a collateral asset.

TL;DR Deribit will integrate Ethena's stablecoin USDe into its cross-collateral system starting in January 2025, allowing rewards for its use in derivative trades. The adoption of USDe opens new opportunities for structured products within the derivatives ecosystem.

According to Deribit, the exchange will include USDe in its cross-collateral pool as of early January 2025, pending regulatory approval.

Since Donald Trump's win in the U.S. presidential race, the cryptocurrency market has been booming. It surged 30%, with the global market cap reaching a record $3 trillion, while Bitcoin reached a record-breaking $93k.