Launchpool

Bitcoin

April

Ethena

Rise

ENA, the native token of Ethena Labs, one of Binance's Launhpool projects, announced the “Season 2 Stake Program”, which includes a 50% increase in rewards for some of the users. 
In a blog post, Ethena Labs stated that the second season has started for users to stake ENA and announced that users will be able to lock ENA in Ethena for a minimum of 7 days of locking period starting from April 8. 
<blockquote> 
 “Starting April 8, users will be able to lock ENA in Ethena for a minimum lock-in period of 7 days. 
 The user must lock a minimum ENA position of $5,000 to be eligible for rewards. A UI update will be provided on April 9 so users can track this for their own wallets. 
 Users who lock 50% or more of their ENA based on their USDe balance will receive a 50% reward increase. 
 Team and investor allocations locked into vesting programs will not be able to participate in the ENA staking program.” 
</blockquote> 
While the price of ENA started to rise after this announcement, ENA increased by approximately 20% in the last two hours. 
<img decoding="async" class="alignnone wp-image-139430" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/04/ENAUSDT_2024-04-08_16-44-58.png" alt="" width="621" height="616"> 
According to Lookonchain's post, whales also took action after the ENA announcement. Accordingly, the three wallets withdrew a total of 11.9 million ENA ($15.23 million) from Binance to stake ENA. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Whales are withdrawing <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> from exchanges and staking it due to the <a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw">#Ethena</a> Season 2 staking rewards. 
 3 whales withdrew 11.9M <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a>($15.23M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and staked it.<a href="https://t.co/3UrErMJ2R3">https://t.co/3UrErMJ2R3</a><a href="https://t.co/8ZPz0U8U8F">https://t.co/8ZPz0U8U8F</a><a href="https://t.co/AAwOJLz8qk">https://t.co/AAwOJLz8qk</a> <a href="https://t.co/NbMdbF5xdO">pic.twitter.com/NbMdbF5xdO</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1777324106666659930?ref_src=twsrc%5Etfw">April 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/altcoin-binances-launchpool-project-announced-the-launch-of-a-new-stake-program-whales-became-active-there-was-a-significant-rise-in-price/">Altcoin, Binance's Launchpool Project, Announced the Launch of a New Stake Program, Whales Became Active: There was a Significant Rise in Price!</a>

Altcoin, Binance's Launchpool Project, Announced the Launch of a New Stake Program, Whales Became Active: There was a Significant Rise in Pr...

Bitcoin Sistemi EN

Other articles published on Apr 8, 2024

Week Ahead for Crypto: BNB, SOL, and XRP Bracing for Market Shakes

XRP Price Primed for Surge, Targets $0.65 and $0.70

Wrapped Bitcoin Up More Than 3% In 24 hours

MicroStrategy Positions To Capitalize On Upcoming Bitcoin Halving: Analyst

Bitcoin Community Buzzes with Anticipation for Fourth Halving Event

Altcoins Hotlist: Expert Identifies Top 6 Coins To Track Amid Bitcoin’s Rise To $72,000

Join our free newsletter for daily crypto updates!