Ethena Price Prediction: ENA Pumps 9% As Ethena Labs Mulls SOL USDe Collateral, But Investors Flock To This Meme Coin With A 2,466% Staking APY
The Ethena price surged 9% in the last 24 hours to trade at $0.411 as of 00:24 a.m. EST on trading volume that rose 3% to $417 million. This comes as Ethena Labs, the entity behind the synthetic stablecoin USDe, has proposed adding Solana to the Stablecoin’s collateral mix. If Ethena’s independent Risk Committee approves the proposal, the platform will gradually introduce SOL as a collateral asset for USDe. Ethena Price To Continue Soaring – Sentiment Supported By Main Indicators In October, the price of Ethena plunged through a correction from the $0.35 resistance down to the $0.26 support and then back to the resistance zone, forming a rounding bottom pattern. A slight retrace back to the $0.32 support completed a cup and handle pattern, according to data from GeckoTerminal . The pattern allowed the bulls to push the price of Ethena through a parabolic surge in the last two days, which is reflected in the sharp rise from the $0.30 level to the current price of ...