Major

2024

Read

Ethena

<p>The <a href="https://captainaltcoin.com/is-ena-set-to-climb-higher-ethena-price-analysis-revealed/" target="_blank" rel="noopener noreferrer nofollow">Ethena (ENA) token</a> has surged past $1.00, marking a 157% increase from its bottom. This surge comes as the protocol announces plans to launch a new stablecoin called UStb in partnership with Securitize.&nbsp;</p>
<p>Market analysts from Coinpedia Markets and trader Jacob Canfield share optimistic price predictions for the token.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> has broken out from the falling wedge, already had a 157% surge from the bottom, and still has room to grow. We can see around the $1.52-$3 range this month and the range will be new ATHs. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Ethena?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethena</a> is planning to launch a new <a href="https://twitter.com/hashtag/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#stablecoin</a> called UStb in collaboration with… <a href="https://t.co/cE6ao0Yaec" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/cE6ao0Yaec</a></p>— Coinpedia Markets (@MarketCoinpedia) <a href="https://twitter.com/MarketCoinpedia/status/1864911610164449303?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>ENA’s price has <a href="https://www.coingecko.com/en/coins/ethena" target="_blank" rel="noopener noreferrer nofollow">reached $1.03</a>, according to CoinGecko data, with a daily trading volume exceeding $1 billion. The token has demonstrated strong momentum with a 7.78% increase over the past 24 hours and a 47.40% gain in the last week.&nbsp;</p>
<p>Trader Jacob Canfield noted that ENA has broken through the 0.618 Fibonacci retracement level, a technical indicator that often signals continued upward movement.</p>
<h2 class="wp-block-heading" id="strong-strategic-partnerships-and-product-development-strong"><strong>Strategic Partnerships and Product Development</strong></h2>
<p>The protocol’s collaboration with Securitize for the UStb stablecoin launch builds on its existing market presence.&nbsp;</p>
<p><a href="https://securitize.io/learn/press/blackrock-launches-first-tokenized-fund-buidl-on-the-ethereum-network" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s BUIDL</a> platform may serve as an investment vehicle for the protocol’s reserves, establishing a connection with traditional finance infrastructure. The protocol has earned recognition in the stablecoin market, now ranking third among stable asset providers.</p>
<p><em>Read also: </em><a href="https://captainaltcoin.com/heres-why-dogecoin-doge-price-could-see-an-epic-breakout-soon-analyst/" target="_blank" rel="noopener noreferrer nofollow"><em>Here’s Why Dogecoin (DOGE) Price Could See an Epic Breakout Soon – Analyst</em></a></p>
<h2 class="wp-block-heading" id="strong-yield-generation-and-platform-growth-strong"><strong>Yield Generation and Platform Growth</strong></h2>
<p>The protocol’s existing stablecoin, sUSDE, maintains competitive yields averaging above 40% through funding rate mechanisms. Canfield points to an upcoming fee switch implementation that could accelerate platform adoption.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> – just cracked $1.00 for a 3X and breaking the .618 fib retracement level. <br><br>They’re now the #3 stable coin and APY for sUSDE has been averaging 40%+ with the current funding rate yields. <br><br>Fee switch will come a lot faster than most people think and should drive significant… <a href="https://t.co/fnBaMVE4Gl" target="_blank" rel="noopener noreferrer nofollow">https://t.co/fnBaMVE4Gl</a> <a href="https://t.co/pduIt4aL81" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/pduIt4aL81</a></p>— Jacob Canfield (@JacobCanfield) <a href="https://twitter.com/JacobCanfield/status/1864871512664367223?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The high APY rates have attracted users to the platform, contributing to the growing demand for the ENA token. Market data indicates sustained trading activity, with volume metrics supporting the price appreciation across major exchanges.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></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/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" 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-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </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/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ethena-ena-price-targets-new-all-time-high-amid-upcoming-major-developments/" rel="noopener noreferrer nofollow">Ethena (ENA) Price Targets New All-time High Amid Upcoming Major Developments</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethena (ENA) Price Targets New All-time High Amid Upcoming Major Developments

Table of Contents

CaptainAltcoin

Other articles published on Dec 6, 2024

17,672 $TICS for $500? Qubetics Leads as the Best Crypto to Invest in This Week as Algorand Hits ...

ZA Bank Becomes Asia’s First Bank to Offer Retail Crypto Trading: Report

This crypto could 10x like Bitcoin—discover the next big thing in gains by December 2024

Trump Announces White House Cryptocurrency Officer! Which Altcoin Projects Has He Invested In?

U-topia Secures Strategic Investment From Industry OGs, GC Capital

GAS Price Prediction: Will Gas Hit $10.01 By 2030?

Join our free newsletter for daily crypto updates!