Smart Dex Traders Boost $ENA Holdings As Token Surges Over 50% In One Week
The post Smart Dex Traders Boost $ENA Holdings As Token Surges Over 50% In One Week appeared on BitcoinEthereumNews.com.
Smart Dex traders have been aggressively accumulating $ENA in the past 48 hours, purchasing 973.2K tokens worth approximately $381.7K. This buying spree has significantly increased their holdings, coinciding with a notable rise in $ENA’s price, which has surged nearly 5% in the last 24 hours. 🚨Update: Smart Dex Traders Continue to Accumulate $ENA In the past 2 days, Smart Dex Traders have bought 973.2K $ENA (~$381.7K). Their balance has also increased significantly. The price of $ENA has risen by nearly 5% in the last 24 hours. 👉 Get a detailed analysis of $ENA… pic.twitter.com/ef86vNt71N — iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) October 16, 2024 The token’s recent performance has been impressive, with its value climbing over 50% in just seven days. Ethena Labs, the Ethereum-based DeFi protocol behind $ENA, has had a standout week, bolstered by key proposals and update announcements that have driven positive market sentiment. GOING UP!$ENA is on the rise!!! With a huge gain of over 50% in 7 days, @Ethena_Labs has had a great week due to recent proposals and update announcements. What’s next for $ENA?! Source: @CoinMarketCap pic.twitter.com/HnKPOT1noy — Sjuul | AltCryptoGems (@AltCryptoGems) October 15, 2024 Ethena Labs focuses on offering decentralized financial services through USDe, a synthetic dollar stablecoin. The platform emphasizes censorship-resistant finance and low-cost transactions, which makes it appealing to a growing number of users in the DeFi space. The $ENA token serves as a governance and rewards token, giving holders a say in the protocol’s future direction. Additionally, users can stake USDe to earn yield through its synthetic counterpart, sUSDe. As $ENA continues its upward momentum, traders are closely monitoring its price action, which is showing signs of breaking higher as it accumulates long positions below a $1 billion market cap. The bullish sentiment surrounding $ENA suggests that it may…
Filed under: News - @ October 17, 2024 12:27 pm