2024

AI Crypto

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Ethena

The Ethena price has dipped 5% in the past 24 hours to trade for $0.8061 as of 03:00 a.m. EST on trading volume that dropped 8%.
The ENA price has also slumped 10% in the past seven days, according to <a href="https://www.coingecko.com/en/coins/ethena" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>. This is as the broader cryptocurrency market remains in a state of uncertainty, with the Bitcoin price still stuck in the $61,000 range.
Nevertheless, while the Ethena price continues to struggle, the ENA token is trending among Hawk Apps hot coins today.
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 🔥 Hot Trending
 💎 Ethena <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ENA</a>
 💰 Price: $0.815 ⚡️ 24h change: -2.68% 📈 24h high: $0.852 📉 24h low: $0.815<a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethena</a> <a href="https://t.co/AvonxPf9xB" rel="noopener noreferrer nofollow">pic.twitter.com/AvonxPf9xB</a>
 — Hawk App (@hawkApp_) <a href="https://twitter.com/hawkApp_/status/1789850568938127651?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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The token is trending amid FUD (fear, uncertainty, and doubt) following negative publicity. Reportedly, project developers are “evil and greedy,” X user @HTXLedger notes, adding that the project is “dead already.”
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 Mega hypped <a href="https://twitter.com/hashtag/ethena?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ethena</a> <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ENA</a> <a href="https://twitter.com/ethena_labs?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ethena_labs</a> seems to be dead already, and of course the cause is simply the developers being evil, and greedy.
 They have no clue how crypto works, and that has to destroy the investors lives.
 Good job.
 — Ledger (@HTXLedger) <a href="https://twitter.com/HTXLedger/status/1789747104857940429?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 12, 2024</a>
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Another reason the token is trending is that the protocol has amassed over $2.307 billion in Total Value Locked (TVL), according to <a href="https://defillama.com/protocol/ethena#information" target="_blank" rel="noopener noreferrer nofollow">DefiLlama.</a> @GuerrillaBuzz said on X that it is “the fastest-growing stablecoin in history.”
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 📑<a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethena</a> is rewriting the record books! In just 7 weeks, it has amassed over $2 billion TVL, making it the fastest-growing stablecoin in history. 🤯 With yields over 30% APY on USDe and a $12 billion valuation for its <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ENA</a> token, the hype is real! <a href="https://t.co/gj2Qsl8Bl7" rel="noopener noreferrer nofollow">pic.twitter.com/gj2Qsl8Bl7</a>
 — GuerrillaBuzz (@GuerrillaBuzz) <a href="https://twitter.com/GuerrillaBuzz/status/1789605034621129096?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 12, 2024</a>
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The ENA ecosystem also released its roadmap recently, making it one of the fundamentals influencing the Ethena price.
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 👉 <a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethena</a>'s new roadmap update shows many new stories.
 👉Most recently, USDe was approved as collateral for derivatives, BTC and ETH spot transactions on the <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bybit</a> exchange.
 👉In particular, the new update also mentions <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ENA</a> as a <a href="https://twitter.com/hashtag/RWA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RWA</a> project with the ability to attract… <a href="https://t.co/agHbjGo7fy" rel="noopener noreferrer nofollow">https://t.co/agHbjGo7fy</a> <a href="https://t.co/X0p3i93pkV" rel="noopener noreferrer nofollow">pic.twitter.com/X0p3i93pkV</a>
 — Pawn (@Four0905) <a href="https://twitter.com/Four0905/status/1789598636747473269?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 12, 2024</a>
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Meanwhile, there have been some big money moves recently, with up to $12.6 million worth of the token sold on Bybit exchange.
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 🚨 Big Money Moves: $12.6M Worth of <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ENA</a> Sold on <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bybit</a>
 Major <a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethena</a> Movement Alert: 🔹 Wallet Address: 0x58FDFC3A08934fC45c6E262d626e71bEfd2b4e82 🔹 Amount Deposited: 14.53M <a href="https://twitter.com/hashtag/ENA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ENA</a> (≈ $12.54M)
 Transaction History 🔸 Initial Receipt: Wallet 0x58FD***2b4e82 received 14,533,535… <a href="https://t.co/qzt1m5EM2P" rel="noopener noreferrer nofollow">pic.twitter.com/qzt1m5EM2P</a>
 — Crypto Patel (@CryptoPatel) <a href="https://twitter.com/CryptoPatel/status/1789331454352138386?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 11, 2024</a>
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<h2 id="ethena-price-prediction">Ethena Price prediction</h2>
The Ethena price is trading with a bearish bias, stuck in the pits of the market range below the 78.6% Fibonacci retracement level of $1.0263. A look at the Relative Strength Index (RSI) shows that momentum is falling as the RSI has slipped below the mean level of 50.
The Moving Average Convergence Divergence (MACD) is also in negative territory, suggesting the bears are leading the ENA market. Increased selling pressure could see the Ethena price drop to the bottom of the market range at $0.7568, levels last tested on April 3. In a dire case, the dump could extend for the ENA price to record a lower low.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/05/ENA.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-520238 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/05/ENA.png" alt="Ethena price" width="1362" height="765" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/ENA.png 1362w, https://insidebitcoins.com/wp-content/uploads/2024/05/ENA-300x169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/ENA-1024x575.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/ENA-768x431.png 768w" sizes="(max-width: 1362px) 100vw, 1362px"></a>
<a href="https://www.geckoterminal.com/eth/pools/0x4185d2952eb74a28ef550a410ba9b8e210ee9391" target="_blank" rel="noopener noreferrer nofollow">GeckoTerminal: ENA/USD 1-day chart</a>
On the flip side, the MACD is moving above the orange band of the signal line. This shows bullish sentiment is growing, which could bode well for the Ethena price.
While a move above the 78.6% and 61.8% Fibonacci retracement levels would be ideal, only a candlestick close above the 50% Fibonacci placeholder of $1.3866 would invalidate the bearish thesis.
Elsewhere, some investors are shifting their attention to eTukTuk, a presale that continues to gain momentum in the crypto space with funds raised of more than $3.284 million.
Jacob Bury, a prominent crypto analyst on YouTube, has expressed optimism about the project, suggesting that $TUK could potentially surge 10x after launch.
<iframe title="New 10X Potential Green AI Crypto?! - eTukTuk Transport Crypto" width="640" height="360" src="https://www.youtube.com/embed/mZAqetFzMh4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="promising-alternative-to-ethena">Promising Alternative To Ethena</h2>
TUK is the powering token for the <a href="https://insidebitcoins.com/visit/etuktuk" target="_blank" rel="noopener noreferrer nofollow">eTukTuk project</a>, which aims to help Tuk Tuk drivers in South Asia and Africa to adopt a more energy-efficient mode of transportation.
At the heart of the project are the development of proprietary electric Tuk Tuks and a network of electric vehicle charging stations.&nbsp;The project also utilizes blockchain technology, and artificial intelligence (AI).
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 Did you know that carbon emissions from vehicles contribute significantly to climate change, air pollution, and global heath crises!
 From extreme weather events to respiratory diseases, the impacts are profound.
 By choosing <a href="https://twitter.com/hashtag/eTukTuk?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#eTukTuk</a>'s, you're not just making a transportation… <a href="https://t.co/zvb3lmJJyp" rel="noopener noreferrer nofollow">pic.twitter.com/zvb3lmJJyp</a>
 — eTukTuk (@eTukTukio) <a href="https://twitter.com/eTukTukio/status/1786788380686336263?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 4, 2024</a>
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Developing economies make for the project’s main target, as it leverages the $TUK token to establish Electric Vehicle Charging Stations (EVSEs). To this end, it leverages a well-defined concept, meeting users where blockchain tech and sustainability intersect.
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 Which side are you on? 🤔
 Join the eco revolution with <a href="https://twitter.com/hashtag/eTukTuk?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#eTukTuk</a> and let's drive towards a greener, cleaner future! 🌿🚗 <a href="https://t.co/Kxwte0SVe6" rel="noopener noreferrer nofollow">pic.twitter.com/Kxwte0SVe6</a>
 — eTukTuk (@eTukTukio) <a href="https://twitter.com/eTukTukio/status/1789644224566050863?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 12, 2024</a>
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By choosing eTukTuk, you’re not just making a transportation choice, you’re taking a stand for a cleaner, healthier planet.
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 From endangering ecosystems to accelerating climate change, rising air pollution knows no bounds.
 Let's take action for cleaner air with <a href="https://twitter.com/hashtag/eTukTuk?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#eTukTuk</a>. <a href="https://t.co/3IIfYh8m1I" rel="noopener noreferrer nofollow">pic.twitter.com/3IIfYh8m1I</a>
 — eTukTuk (@eTukTukio) <a href="https://twitter.com/eTukTukio/status/1788195135877960156?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 8, 2024</a>
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Investors in TUK can earn passively via it staking system, which offers an annual yield of 84%.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-520240 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk.png" alt="TUK staking" width="1347" height="546" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk.png 1347w, https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk-300x122.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk-1024x415.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/tuktuk-768x311.png 768w" sizes="(max-width: 1347px) 100vw, 1347px"></a>
The project is also launching a play-to-earn (P2E) game,&nbsp;Crazy Taxi, in which players race around the streets of Sri Lanka, picking up and dropping off customers.
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 Introducing Buy and Stake mechanism, get <a href="https://twitter.com/search?q=%24TUK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TUK</a> tokens and instantly stake them, initiating a dynamic APY.
 Early stakers enjoy higher returns as APY adjusts with participation, encouraging early adoption and a fair, enticing incentive structure for all. 💫 <a href="https://t.co/pMrXEZzB3f" rel="noopener noreferrer nofollow">pic.twitter.com/pMrXEZzB3f</a>
 — eTukTuk (@eTukTukio) <a href="https://twitter.com/eTukTukio/status/1711761128576159791?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 10, 2023</a>
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To participate in the presale, you can buy $TUK at $0.0315 per token before the price increases in a little more than seven days.
<a href="https://insidebitcoins.com/visit/etuktuk" target="_blank" rel="noopener noreferrer nofollow">Visit and buy eTukTuk here</a>.
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/green-ai-revolution-in-web3-heres-how-you-can-seize-the-100x-opportunity-with-etuktuk" rel="noopener noreferrer nofollow">Green AI Revolution in Web3 – Here’s How You Can Seize the 100X Opportunity With eTukTuk</a></li>
 <li><a href="https://insidebitcoins.com/news/etuktuk-tuk-storming-into-2024-with-massive-funding-learn-why-here" rel="noopener noreferrer nofollow">eTukTuk (TUK) Storming Into 2024 With Massive Funding, Learn Why Here</a></li>
 <li><a href="https://insidebitcoins.com/news/etuktuk-strives-to-bring-sustainable-transport-to-developing-nations-with-its-innovative-three-wheeler-ev-and-charging-infrastructure" rel="noopener noreferrer nofollow">eTukTuk Strives to Bring Sustainable Transport to Developing Nations With Its Innovative Three-Wheeler EV and Charging Infrastructure</a></li>
</ul>

Ethena Price Plunges 5% As Investors Flock To This Green AI Crypto And Its 84% Staking Return

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