World

Liberty

Ethena

Spot

BlackRock

<p><a href="https://captainaltcoin.com/market-analyst-predicts-explosive-growth-for-ethena-ena-price-after-key-resistance-break/" target="_blank" rel="noopener noreferrer nofollow">ENA’s price</a> shot up 12.28% today, making it the market’s biggest gainer in the last 24 hours. People have been trading it, too—the volume is up 115.87%, showing traders are really getting into it. Several things seem to push the tokens’ price up, from big companies buying into the hype around upcoming events.</p>
<p>Spot On Chain reported some interesting news – World Liberty Financial, which has ties to Donald Trump’s businesses, just bought a bunch of ENA. They picked up 509,955 tokens, spending about $500,013 (that’s around $0.981 per token). This wasn’t a one-off thing either – the fund has been spreading money around in crypto, putting $44.41 million into different coins like Ethereum, Chainlink, and Aave.</p>
<p>The institutional backing of <a href="https://captainaltcoin.com/ethena-ena-price-targets-new-all-time-high-amid-upcoming-major-developments/" target="_blank" rel="noopener noreferrer nofollow">Ethena</a> has bolstered confidence among traders and investors. Since November 31, World Liberty Financial’s investments have contributed to a rising trajectory for the token, adding credibility to its potential for growth. The news of these purchases coincides with ENA’s breakout from a key resistance zone, as observed on its price chart.</p>
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   <p lang="en" dir="ltr">Donald Trump’s World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a>!<br><br>3 hours ago, this fund spent 500,013 <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDC</a> to buy the first 509,955 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> at an average price of $0.981.<br><br>Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… <a href="https://t.co/2jSNS2Oc00" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2jSNS2Oc00</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868073696663122207?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 14, 2024</a>
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<h2 class="wp-block-heading" id="ethena-price-chart-indicates-potential-breakout">Ethena Price Chart Indicates Potential Breakout</h2>
<p>The ENA price chart demonstrates a strong upward trend, with consistently higher highs and higher lows from October through December. However, the price has recently entered a consolidation phase, testing resistance levels between $1.0176 and $1.1418. The 0.618 Fibonacci level, at $1.0176, has emerged as a pivotal support zone, with the token showing resilience above this level.</p>
<p>Technical analysis suggests that a breakout above the current resistance could propel ENA’s price toward its next targets at $1.2406 and $1.5246. Rejection at this resistance, however, might see the price retrace to support levels at $0.8610 or lower. Crypto expert Jacob Canfield echoed this sentiment in a recent tweet, stating that ENA is “teasing a breakout” and highlighting its relative strength during a market pullback.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="533" src="https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-1024x533.png" alt="" class="wp-image-599561" srcset="https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-1024x533.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-300x156.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-766x399.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-1536x800.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-2048x1066.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-288x150.png 288w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-672x350.png 672w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647-788x410.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/12/image-647.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/JacobCanfield/status/1868066219980701968" target="_blank" rel="noopener noreferrer nofollow">X/JacodCanfield</a></em></strong>
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<h2 class="wp-block-heading" id="blackrock-conference-sparks-market-speculation">BlackRock Conference Sparks Market Speculation</h2>
<p>Adding to the momentum, speculation surrounding the upcoming BlackRock conference has further fueled interest in ENA. The tweet from Canfield suggested investors might feel like they’re missing out by not getting in before the event. People are trading ENA more than usual right now, even though we don’t really know how the conference will affect it.</p>
<p>The market’s been pretty rocky this weekend, but ENA’s still doing really well compared to other tokens. The combination of institutional purchases and external market catalysts has positioned ENA as a token to watch.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/will-kaspa-price-hit-3-in-2025-can-kas-make-you-rich/" target="_blank" rel="noopener noreferrer nofollow">Will Kaspa Price Hit $3 in 2025? Can KAS Make You Rich?</a></em></strong></p>
<h2 class="wp-block-heading" id="outlook-for-ena">Outlook for ENA</h2>
<p>With <a href="https://coinmarketcap.com/currencies/ethena/" target="_blank" rel="noopener noreferrer nofollow">ENA’s price</a> currently testing resistance levels and supported by institutional interest, ENA’s near-term performance hinges on its ability to break out of the current range. The BlackRock conference and continued investor confidence may play pivotal roles in shaping its trajectory. A lot of people are watching ENA closely right now – from regular folks <a class="wpil_keyword_link" href="https://captainaltcoin.com/buying/" title="buying crypto" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">buying crypto</a> to big investment firms.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-ethena-ena-price-up-2/" rel="noopener noreferrer nofollow">Why is Ethena (ENA) Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is Ethena (ENA) Price Up?

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