Ethena (ENA), a burgeoning DeFi project, has surged in popularity following its recent launch, with its price climbing over 20%. Besides, adding fuel to the fire, BitMEX co-founder Arthur Hayes has expressed bullish sentiments towards Ethena, predicting a rally to $10. His endorsements have stirred discussions and curiosity in the crypto community.

Notably, crypto has gained notable traction since Binance Launchpool added the project to its platform as its 50th project.

Arthur Hayes Backs Ethena

BitMEX co-founder Arthur Hayes has made waves in the crypto sphere with his bold predictions for Ethena (ENA). In recent posts, Hayes voiced his support for the DeFi project, foreseeing a remarkable price surge to $10. Notably, his statements, shared on the X platform, have ignited optimism and speculation among investors, prompting them to closely monitor Ethena’s performance.

Meanwhile, Hayes’s endorsement of Ethena underscores the growing confidence in the project’s potential and its disruptive capabilities within the decentralized finance space. With his track record in the crypto industry, Hayes’s predictions carry significant weight and have the potential to sway investor sentiment toward Ethena.

Notably, in another post, Arthur Hayes said that ENA is already rallying despite no involvement from Korean traders. Considering that, he predicted a robust rally in the ENA price once the Korean investors came into the trading ground.

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Price & Performance

Arthur Hayes’s bullish outlook on Ethena comes at a pivotal moment for the project, as it seeks to establish itself in the competitive DeFi landscape. His endorsement not only validates Ethena’s value proposition but also signals a potential shift in market dynamics, with investors increasingly drawn to promising projects backed by influential figures.

In addition, Hayes’s predictions serve as a catalyst for heightened interest and investment in Ethena, potentially driving up its price and market capitalization. As the cryptocurrency market continues to evolve, endorsements from industry veterans like Hayes play a crucial role in shaping market sentiment and driving the adoption of emerging blockchain technologies.

However, it’s important to approach Hayes’s predictions with caution, as the crypto market remains inherently volatile and unpredictable. While his endorsement may boost confidence in Ethena, investors should conduct thorough research and consider various factors before making investment decisions.

Notably, as of writing, the Ethena price was up 22.93% and traded at $0.8384, while its trading volume was $2.79 billion. Notably, the token has touched a high of $0.8987 and a low of $0.5275 over the last 24 hours.

Ethena (ENA) Price

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The post Ethena Price: BitMEX’s Arthur Hayes Predicts ENA Rally To $10 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am