Ethereum

Ethereum 2.0

SPACE ID

Ethereum Name Service

Ethena

<p>The prices of Ethereum Name Service (ENS) and Ethena (ENA) have surged, largely driven by the rise in the price of Ethereum (ETH). The primary catalyst for this market movement is the U.S. Securities and Exchange Commission’s (SEC) decision to stop its investigation into Ethereum 2.0, which has boosted overall market sentiment and confidence in the Ethereum ecosystem.</p>
<h2 class="wp-block-heading" id="ethereum-name-service-ens-gains-momentum">Ethereum Name Service (ENS) Gains Momentum</h2>
<p>Ethereum Name Service, a distributed, open, and extensible naming system based on the Ethereum blockchain, has seen its native token, ENS, surge by 17.23% in the past 24 hours. Currently trading at $26.44, ENS has recorded a 24-hour low of $21.54 and a high of $27.08.</p>
<p>Several analysts have expressed bullish sentiments towards ENS, with Degen Lordy <a href="https://x.com/DegenLordy/status/1803224410372944375" target="_blank" rel="noopener noreferrer nofollow">noting</a> that the token has quietly entered the top 100 cryptocurrencies by market capitalization while the broader market experienced a downturn. The analyst believes that if Ethereum performs as expected during the bull market, ENS could easily become a top 25 token.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="473" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-473x1024.png" alt="" class="wp-image-511097" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-473x1024.png 473w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-138x300.png 138w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-768x1664.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-709x1536.png 709w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689.png 945w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-69x150.png 69w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-100x217.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-161x350.png 161w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-689-788x1707.png 788w" sizes="(max-width: 473px) 100vw, 473px">
</figure>
<p><a href="https://x.com/astekz/status/1803037680596320729" target="_blank" rel="noopener noreferrer nofollow">Astekz</a>, another analyst, has identified ENS as a potential performer heading into 2025 and is looking to accumulate the token, even if it means buying at higher prices than initially desired.</p>
<h2 class="wp-block-heading" id="ethena-ena-showcases-strong-performance">Ethena (ENA) Showcases Strong Performance</h2>
<p>Ethena, a decentralized finance (DeFi) platform, has also witnessed a price increase, with its native token, ENA, rising by 6.64% in the past 24 hours. ENA is currently trading at $0.6514, with a 24-hour low of $0.5801 and a high of $0.6841.</p>
<p><a href="https://x.com/smartestmoney_/status/1803182514464498147" target="_blank" rel="noopener noreferrer nofollow">Smartestmoney</a>, an analyst, has purchased ENS at $22 as part of their strategy to accumulate more Ethereum beta. The analyst believes that ENS is clearly outperforming alongside other earlier purchases like LDO and considers this a rare occasion where Ethereum beta makes sense in an attempt to front-run traditional finance investments in the Ethereum ecosystem.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Furthermore, ENS has recently proposed its own Layer 2 network as part of the ENSv2 upgrade, which the analyst believes could propel the token straight to $40 if it manages to conquer the $29 level.</p>
<p><a href="https://x.com/crypto_rand/status/1801309026023784626" target="_blank" rel="noopener noreferrer nofollow">Crypto Rand</a>, another analyst, has noted that ENS is bouncing over its main support level and appears to be in good shape so far.</p>
<h2 class="wp-block-heading" id="ethena-introduces-new-tokenomics-and-utility-for-ena">Ethena Introduces New Tokenomics and Utility for ENA</h2>
<p>Pink Brains, a crypto analyst, has <a href="https://x.com/PinkBrains_io/status/1803017148295717200" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> Ethena’s recent moves to add more utilities to its ecosystem, including new staking options using restaked ENA and sUSDe for crypto-economic security on the Ethena Chain.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-1024x576.png" alt="" class="wp-image-511105" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-767x431.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-2048x1151.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-623x350.png 623w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-690.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The analyst outlines several key points regarding ENA’s new tokenomics:</p>
<ol>
 <li>Boosting USDe’s utility through partnerships with various protocols, making it one of the fastest-growing ‘money’ with $3.53B in circulation in just 6 months.</li>
 <li>Current uses for ENA, including being locked in Ethena’s Vaults for Sats boosting and in Pendle’s PT-ENA pools.</li>
 <li>Generalized restaking, which introduces new utility for ENA by providing economic security for LayerZero’s DVN network and supporting LayerZero ecosystem partners.</li>
 <li>Restaking on the Ethena Chain, where USDe will be used as the gas token and ENA will provide security, with various applications and infrastructure solutions planned for the chain.</li>
 <li>Farming opportunities for ENA holders through staking in Symbiotic, earning Sats points, Symbiotic points, Mellow points, and potential future LayerZero RFP allocations.</li>
 <li>Updates on ENA locks and vesting, requiring users receiving the S1 airdrop to lock at least 50% of their vesting ENA in Ethena’s Vault, Pendle PT, or Symbiotic Restaking to avoid redistribution of unvested tokens.</li>
</ol>
<p>With the SEC’s investigation into Ethereum 2.0 now halted and the overall market sentiment improving, these tokens may experience further growth and development in the coming months.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/top-crypto-unlocks-this-week-space-id-id-and-merlin-chain-merl-joins-the-top-7/" target="_blank" rel="noopener noreferrer nofollow">Top Crypto Unlocks This Week: SPACE ID (ID) and Merlin Chain (MERL) Joins the Top 7</a></em></strong></p>
<p><em><strong>Join <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="aethir" href="https://captainaltcoin.com/go/aethir/" data-shortcode="true">Aethir’s exclusive airdrop</a> and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!</strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-are-ethereum-name-service-ens-and-ethena-ena-crypto-prices-pumping/" rel="noopener noreferrer nofollow">Why Are Ethereum Name Service (ENS) and Ethena (ENA) Crypto Prices Pumping?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Are Ethereum Name Service (ENS) and Ethena (ENA) Crypto Prices Pumping?

Table of Contents

CaptainAltcoin

Other articles published on Jun 19, 2024

API3’s Latest Move on Scroll Could Spell the End of Data Manipulation in DeFi – Details

AI Startup Aspecta Launches Builder Economy Network in Collaboration with BNB Chain (19 Jun)

Flipster and TON Announce Exciting New Partnership

Bitcoin (BTC) Price Correction to $60,000 Coming As Per On-Chain Data

Can Chainlink [LINK] break out in the next 30 days?

Register Manually For ZRO Airdrop; Says LayerZero Foundation

Join our free newsletter for daily crypto updates!