Ethena

Date: Sun, Dec 15, 2024, 04:11 AM GMTThe cryptocurrency market has seen notable upward movements today in major altcoins and Ethena (ENA) stealing the spotlight. ENA has surged by over 13% in the past 24 hours, solidifying its position as a top gainer. The token is currently trading at $1.15, boasting a market capitalization of $3.38 billion.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c1b4fe82e07c4cc0acd054466f6e46e8.png" />Source: Coinmarketcap<h3 id="trump-s-world-liberty-financial-fuels-ena-rally">Trump’s World Liberty Financial Fuels ENA Rally</h3>A key driver of this rally is the recent accumulation of ENA by Trump’s World Liberty Financial. The fund made a significant move earlier today, spending $500,013 USDC to purchase 509,955 ENA tokens at an average price of $0.981.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9a0d2070556e40be90bb301c9577915a.jpeg" />Source: &#64;spotonchain (X)This isn’t the first time the financial entity has <a href="https://coinsprobe.com/link-and-aave-surges-amid-accumulation-by-trumps-world-liberty-are-more-gains-on-horizon/" rel="noopener noreferrer nofollow">sparked price rallies</a>. Recent purchases by the fund include:<ul><li>78,387 LINK, acquired at an average price of $25.51 for $2M, now up by $290,000.</li><li>5,886 AAVE, bought at an average price of $324.40 for $1.91M, currently yielding a profit of $252,000.</li></ul><h3 id="more-gains-on-the-horizon">More Gains on the Horizon?</h3>With today’s rally, ENA has made a strong reversal from its key breakout level of $1.12 and is now holding steady above $1.16. If the bullish momentum continues, the token could target its next major resistance at $1.52, which is also its all-time high.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c9b6dd6b11bf4adabbd64a5827dcad2a.png" />Given the pattern seen in LINK and AAVE after similar accumulations by Trump’s World Liberty Financial, ENA could very well experience a similar trajectory. Should this play out, a potential 30% upside is on the table.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions in the cryptocurrency market.Also Read: <a href="https://coinsprobe.com/gomining-gomining-on-the-verge-of-major-breakout-what-to-expect-ahead/" rel="noopener noreferrer nofollow">GoMining (GOMINING) On The Verge Of Major Breakout: What To Expect Ahead?</a>

Ethena (ENA) Surges Amid Accumulation By Trump’s World Liberty: Are More Gains On Horizon?

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