Ethena

<p>Date: Thu, Dec 19, 2024, 03:45 AM GMT</p><p>The cryptocurrency market within the last 12 hours has been bustling with significant events. <strong>Ethena (ENA)</strong>, a synthetic dollar protocol, has captured attention with impressive gains of over 10%. This surge is largely attributed to its newly announced collaboration with World Liberty Financial (WLFI), a decentralized finance (DeFi) platform reportedly backed by former President Donald Trump.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/43e0c187f9004520ad2f64b22695a404.png" />Source: Coinmarketcap</p><h3 id="major-collaboration-ethena-x-wlfi">Major Collaboration: Ethena x WLFI</h3><p>Ethena and WLFI are set to embark on a long-term collaboration, starting with the integration of the yield-bearing token, sUSDe, into WLFI&#39;s ecosystem. A key governance <a href="https://t.co/L8cEJHF4Sm" rel="noopener noreferrer nofollow">proposal </a>has been submitted to include sUSDe as a core collateral asset in WLFI’s upcoming Aave instance. If this proposal passes, WLFI users will have the opportunity to earn sUSDe rewards alongside WLF token incentives.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/14d23600114b48f29c5dd91e454f8d4b.png" />Source: &#64;ethena_labs (X)</p><p>This partnership could significantly strengthen Ethena’s position in the DeFi space, with sUSDe potentially becoming a cornerstone of WLFI’s lending and borrowing ecosystem.</p><h3 id="whales-accumulate-ena-amid-market-dip">Whales Accumulate ENA Amid Market Dip</h3><p>Despite broader market negativity following the latest Federal Reserve (FED) meeting, ENA has shown remarkable resilience. The FED’s 0.25% rate cut was overshadowed by Federal Reserve Chairman Jerome Powell’s comments clarifying that the central bank is prohibited from owning Bitcoin, which briefly dampened market sentiment.</p><p>Meanwhile the recent pullback, which saw ENA drop from $1.33 to $1.00, crypto whales took advantage of the dip. According to crypto analyst <a href="https://x.com/ali_charts/status/1869487625691955658" rel="noopener noreferrer nofollow">&#64;ali_charts</a>, whales purchased over 36.55 million ENA tokens during this period, underscoring strong institutional interest.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/67b42065f35f486aaaafc67c4176022d.jpeg" />Source: &#64;ali_charts (X)</p><h3 id="technical-analysis">Technical Analysis:</h3><p>At the time of writing, ENA is bouncing strongly from the lower support of its ascending channel, gaining over 2% in the last 1 hour to trade at $1.19.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/375ba9a3c8c44620b1043afe83d3315b.png" /></p><p>The chart reflects an ongoing bullish trend, with key resistance levels at $1.33 and $1.51. Breaking through these levels could set a new all-time high for ENA, representing a potential upside of over 27% from the current price.</p><h3 id="what-s-next">What’s Next?</h3><p>Ethena’s upcoming milestones, including its collaboration with WLFI, position it as a top contender for further gains. The broader recovery in the cryptocurrency market adds a layer of optimism, with major altcoins showing signs of upward momentum.</p><p>Investors are advised to watch for updates on the governance proposal and track price action near the $1.33 resistance level. A successful breakout could signal the start of a new leg up for ENA.</p><p><strong>Disclaimer</strong>: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/jasmycoin-jasmy-cup-and-handle-chart-signals-potential-rally-analyst-insights/" rel="noopener noreferrer nofollow">JasmyCoin (JASMY): Cup-and-Handle Chart Signals Potential Rally - Analyst Insights.</a></p>

Ethena (ENA) Rallies Following Proposal with WFI and Whale Accumulation: Are More Gains Ahead?

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