Ethena, the latest sensation in the crypto space, encountered a momentary setback today, witnessing an 8% decline shortly after achieving an all-time high above $1 just hours after its launch.
Despite this minor dip, data from Defillama indicates that Ethena’s Total Value Locked (TVL) surged to over $2 billion, underscoring the platform’s rapid growth and popularity.
In a recent development, the fourth-largest Blast staking whale executed a notable transaction, transferring 1 million $ENA from Binance, valued at $970,000, with an average transfer price of $0.9655.
This move marks the whale’s first foray into trading ENA, signaling a likely buy operation and suggesting optimism regarding the future price trajectory of the token.
过去 5 分钟，Blast 质押排行第四的巨鲸从 #Binance 转出了 100 万枚 $ENA ，价值 97 万美金，平均转出价格 $0.9655
这是该巨鲸首次交易 ENA，大概率为买入操作，看来他仍看好币价的后续走势🤔
本条推特由 #Bitget📷 赞助 https://t.co/9iFdI9Ryf7 pic.twitter.com/piqqT9kjaK
— Ai 姨 (@ai_9684xtpa) April 5, 2024
Conversely, another prominent whale, identified as 0x9b4, withdrew 3.5 million ENA ($3.3M) from Binance at an average price of $0.944 over the past few hours. Notably, ENA now occupies the top position in the whale’s portfolio, followed by holdings in DEGEN and BRETT.
Whale 0x9b4 withdrew 3.5M $ENA ($3.3M) from #Binance at ~$0.944 in the past 30 mins as the price cooled down.$ENA now ranks 1st in the whale’s portfolio, followed by $DEGEN and $BRETT. The whale currently gains $912K in total profits from $DEGEN and $BRETT after only 12 days.… pic.twitter.com/Of320EfUsL
— Spot On Chain (@spotonchain) April 5, 2024
More $ENA Whales Continues Radical Accumulation
Impressively, the whale has already amassed estimated total profits of $912K from DEGEN and BRETT within just 12 days, including both realized and unrealized gains.
Despite the recent price cooling of ENA by 3.12% in the past hour, the whale perceives this as an opportunity to accumulate more ENA tokens. Additionally, Ethena Labs made a significant announcement, revealing that Ethena has integrated BTC as a backing asset to USDe.
Excited to announce that Ethena has onboarded BTC as a backing asset to USDe
This is a crucial unlock which will enable USDe to scale significantly from the current $2bn supply pic.twitter.com/FOZRWBrVZV
— Ethena Labs (@ethena_labs) April 4, 2024
This development is expected to facilitate significant scalability for USDe, which currently boasts a supply of $2 billion.
Overall, despite the temporary setback, Ethena continues to attract attention and gain traction within the crypto community, with its innovative features and promising potential for growth and expansion.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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