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Altcoin

Arthur Hayes Bets $1.5M on Ethena as ENA Price Dips

by Ouess
written by Ouess

BitMEX co-founder Arthur Hayes has made a major move in the crypto market, scooping up $1.505 million worth of Ethena (ENA) tokens as prices dipped to $0.22. The purchase comes just as ENA was listed on Upbit, South Korea’s largest exchange—could this signal a turnaround for the token?

Hayes’ Strategic ENA Accumulation

According to on-chain analyst @EmberCN, Hayes acquired 4.2 million ENA through multiple transactions:

  • $755K USDC → Binance → 2.1M ENA
  • $248K USDC → Wintermute → 700K ENA
  • $502K USDC → Galaxy Digital → 1.4M ENA

This isn’t Hayes’ first bullish move—he recently predicted a “monster altseason” led by Ethereum. His latest ENA buy reinforces his confidence in an altcoin rally.

Why Ethena? Upbit Listing Fuels Optimism

Hayes’ purchase coincides with ENA’s listing on Upbit, which triggered a 20% price surge. The exchange dominates 81% of Korea’s crypto market, giving Ethena massive exposure.

Analysts believe Ethena—a leader in synthetic dollar protocols—could generate $1B+ in revenue. With Hayes backing it and institutional interest growing, ENA’s potential looks strong.

ENA Price Outlook: Rebound or More Volatility?

ENA Price Source : TradingView

After dipping to $0.22, ENA rebounded to $0.33 (peaking at $0.37). Currently:

  • Price: $0.3371 (-7.4% today, but +32% weekly)
  • 24H Volume: $518M (-54%)

Price Predictions:

  • Short-term: Could test $0.45 (CoinGape’s upper limit)
  • Long-term: Some experts see $1+ if momentum holds

Final Takeaway

Hayes’ $1.5M bet and Upbit’s listing could be the catalysts ENA needs for a sustained rally. While short-term volatility remains, the long-term outlook appears bullish—especially if the altseason Hayes predicted materializes.

Will ENA surge past $1? Keep an eye on trading volume and broader market trends.

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Altcoin

Ethena Labs Unveils 2025 Roadmap with Telegram App

by Ouess
written by Ouess

On January 3, Ethena Labs unveiled its 2025 roadmap, highlighting a Telegram-based payment and savings app powered by its sUSDe stablecoin. This innovative platform aims to deliver a seamless neobank experience directly through the Telegram messaging app.

The app will enable users to send, spend, and save sUSDe effortlessly. Integration with Apple Pay will make transitions between sUSDe savings and mobile payments even smoother.

Ethena Network: Transforming TradFi Adoption

Ethena Labs plans to evolve from a single-asset issuer into Ethena Network, focusing on on-chain financial solutions. As part of this shift, Ethena will launch iUSDe in February.

  • iUSDe Features: Built on Ethena’s sUSDe, iUSDe will include token-level transfer restrictions via a “simple wrapper contract.”
  • TradFi Partnerships: Ethena aims to partner with traditional financial institutions to distribute iUSDe to their clients. Announcements are expected by late January.

Strong Growth and Strategic Partnerships

Ethena has achieved remarkable growth, becoming the second-fastest protocol to reach $100 million in revenue, achieving this in just 251 days.

In December 2024, Ethena introduced USDtb, a stablecoin backed 90% by BlackRock’s BUIDL fund. Unlike sUSDe, USDtb uses a cash-equivalent reserve model for enhanced stability and scalability.

Ethena also partnered with World Liberty Financial (WLFI), linked to a governance proposal under review. If approved, sUSDe will become a key collateral asset for WLFI’s Aave instance.

Ethena Labs Launches 2025 Roadmap: Key Innovations Ahead

Ethena Labs Expands Payment and Savings Options

On January 3, Ethena Labs unveiled its 2025 roadmap, highlighting a Telegram-based payment and savings app powered by its sUSDe stablecoin. This innovative platform aims to deliver a seamless neobank experience directly through the Telegram messaging app.

The app will enable users to send, spend, and save sUSDe effortlessly. Integration with Apple Pay will make transitions between sUSDe savings and mobile payments even smoother.

Ethena Network: Transforming TradFi Adoption

Ethena Labs plans to evolve from a single-asset issuer into Ethena Network, focusing on on-chain financial solutions. As part of this shift, Ethena will launch iUSDe in February.

  • iUSDe Features: Built on Ethena’s sUSDe, iUSDe will include token-level transfer restrictions via a “simple wrapper contract.”
  • TradFi Partnerships: Ethena aims to partner with traditional financial institutions to distribute iUSDe to their clients. Announcements are expected by late January.

Strong Growth and Strategic Partnerships

Ethena has achieved remarkable growth, becoming the second-fastest protocol to reach $100 million in revenue, achieving this in just 251 days.

In December 2024, Ethena introduced USDtb, a stablecoin backed 90% by BlackRock’s BUIDL fund. Unlike sUSDe, USDtb uses a cash-equivalent reserve model for enhanced stability and scalability.

Ethena also partnered with World Liberty Financial (WLFI), linked to a governance proposal under review. If approved, sUSDe will become a key collateral asset for WLFI’s Aave instance.

ENA Token Rally and Future Developments

Ethena’s native token, ENA, has surged 33% since December, fueled by growing investor confidence and the recent roadmap announcement.

The roadmap also hints at several upcoming products, including perpetual trading, prediction markets, gambling platforms, and undercollateralized lending. These innovations aim to strengthen Ethena’s role in the decentralized finance (DeFi) ecosystem.

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Altcoin

Arthur Hayes Fuels Ethena (ENA) Price Surge with Massive Accumulation

by Ouess
written by Ouess

BitMEX co-founder Arthur Hayes has triggered a remarkable rally in Ethena (ENA), a synthetic dollar protocol. Over two days, Hayes purchased 16.79 million ENA tokens, causing a 22% surge in its price.

ENA Price Jumps 22% Amid Hayes’ Buying Spree

Ethena’s price jumped to $0.7502, with its market cap soaring to $2.13 billion. Blockchain data revealed that Hayes withdrew 10.36 million ENA tokens from Binance, worth $7.49 million. His two-day buying total now stands at 16.79 million ENA, with an average cost of $0.66 per token.

The price rise has already earned him an unrealized profit of $1.14 million, marking a swift recovery from his earlier $815,000 loss in Aethir (ATH).

Hayes’ Strategic Moves Pay Off

https://twitter.com/CryptoHayes/status/1861714204841123877

On November 26, Hayes sold off all his ATH tokens after months of holding, redirecting his focus to ENA. This quick move not only recouped his losses but also added to his gains.

Recently, Hayes has been active in Solana-based meme coins like FlowerAI (FLOWER) and made profits on Goatseus Maximus in October.

Ethena (ENA) Gains Momentum

Ethena is gaining significant traction due to its synthetic dollar, USDe. Backed by Bitcoin (BTC) and Ethereum (ETH), USDe offers unique features like native yield.

Key milestones for Ethena include:

  • 4 Billion USDe Supply: Ethena Labs celebrated this achievement alongside a 25% APY for users.
  • Deribit Integration: Popular derivatives platform Deribit adopted USDe as crypto margin collateral.
  • TVL Growth: Ethena’s total value locked (TVL) has surged to $4.09 billion.

ENA Price Predictions

Currently, ENA’s open interest has risen by 23% to $374 million, with $1.29 million in liquidations. Analysts suggest ENA bulls must maintain the $0.75 support level. Success here could lead to a 33% rally, pushing the price to $1 or even revisiting its all-time high of $1.5.

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Altcoin

Will Ethena (ENA) Reach $0.50 as the Recovery Gains Strength?

by Ouess
written by Ouess

Ethena (ENA) is gaining momentum as its price surged by 15.32% in the last 24 hours, pushing its market cap past the $1 billion mark. Currently trading at $0.3887, ENA has seen a 33.65% rise over the past week. Investors are now wondering whether this bullish trend will propel ENA to hit the $0.50 mark.

Inverted Head-and-Shoulder Breakout Rally

The recovery in ENA’s price shows a bullish breakout on the 8-hour chart, forming an inverted head-and-shoulders pattern. The price peaked at $0.41 before a minor pullback. According to Fibonacci levels, ENA is trying to maintain dominance at 61.80%, near $0.3918. Meanwhile, a potential golden crossover between the 50 and 200 EMAs suggests continued upward momentum.

Technical indicators, such as the MACD and signal lines, are also bullish, with increasing positive histograms further supporting the uptrend.

Proposal to Add Solana (SOL) as a Backing Asset for USDe

One major driver of ENA’s price surge is the Ethena team’s proposal to add Solana (SOL) as a backing asset for USDe. This proposal would expand Ethena’s hedging mechanisms, currently focused on Bitcoin and Ethereum futures, to include SOL and Binance and Bybit liquid staked SOL tokens. The Risk Committee is set to vote on the proposal within seven days.

Will Ethena’s Price Reach $0.50?

If the bullish trend continues, ENA could hit its next targets based on Fibonacci levels at $0.4431 and $0.5086. However, support levels at $0.3557 and $0.3196 provide caution for potential pullbacks.

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DeFi

Ethereal Exchange Integration Boosts ENA Price by 20%

by Ouess
written by Ouess

Ethereal Exchange has proposed integrating its decentralized exchange (DEX) into Ethena’s hedging engine and liquidity management system. This move sent ENA prices surging over 20%, driven by immediate trader reactions.

Ethereal Exchange Proposal for Ethena Integration

On September 20, Ethereal Exchange submitted a proposal for governance voting in the Ethena forum. The proposal seeks approval to integrate a spot and perpetual DEX into Ethena’s reserve management system, which would provide an on-chain solution for managing spot and derivative positions backing USDe, Ethena’s stablecoin.

This integration aims to expand the utility of USDe, benefiting both Ethena and ENA holders. If the proposal passes, 15% of any future Ethereal governance tokens will be allocated to ENA holders. The Ethena community is currently discussing the mutual benefits of this initiative.

The Ethereal V1 DEX, built as an L3 EVM appchain, is set to launch a testnet in Q4 2024, with the full release expected in 2025.

ENA Price Jumps 20% Following Proposal

Traders responded swiftly to this integration news, propelling ENA prices by 20% within 24 hours. Ethena Labs’ recent announcement about launching the UStb stablecoin, collateralized by BlackRock and Securitize, added further fuel to the rally.

In the last 24 hours, ENA price rose from a low of $0.3496 to a high of $0.4179, with the price currently trading at $0.411. Trading volume also increased by 145%, showing significant interest from the market.

Surge in Derivatives Activity

The derivatives market is experiencing a surge in ENA futures buying activity. Coinglass data reveals a 13% rise in open interest in just four hours, and over 20% in the past 24 hours. This growth has been seen across major exchanges like Binance, Bybit, and Coinbase, pushing total ENA futures open interest to $190 million.

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Altcoin

Ethena’s ENA Token Surges 45% Amid New Product Launches

by Ouess
written by Ouess

Ethena’s native token, ENA, has seen a significant surge of over 45% this week, driven by the release of several new products. The protocol, which focuses on creating a crypto-native alternative to traditional banking with its synthetic dollar, USDe, has gained considerable attention in the crypto space.

Ethena’s Innovative Solutions: USDe and Internet Bond

Ethena aims to provide a stable, decentralized solution for money through its synthetic dollar, USDe, which operates independently of traditional financial systems. Along with USDe, the project offers a dollar-denominated savings product known as the “Internet Bond.

At the time of writing, ENA is trading at $0.359, up from $0.248 just a week ago, marking a 45% gain. In the last 24 hours, ENA has seen a 14% rise, pushing it to the 115th position by market cap.

Partnership with EigenLayer Boosts ENA

Earlier this week, Ethena announced its partnership with the Ethereum restaking protocol EigenLayer (EIGEN). This collaboration allows USDe to be used as security in EigenLayer’s shared security platform, expanding the range of collateral options for Actively Validated Services (AVS). Previously, only ETH-based assets could be used as collateral for staking, but now, the inclusion of dollar-denominated assets like USDe opens up new possibilities for less volatile collateral options.

New Stablecoin UStb Backed by BlackRock

On Thursday, Ethena introduced UStb, a new stablecoin fully backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). This marks BlackRock’s first tokenized fund, investing in cash, U.S. Treasury bills, and repurchase agreements. UStb offers users a stablecoin with a different risk profile compared to USDe, providing more options for investors and exchange partners.

Final Thoughts

Ethena’s latest product launches and partnerships have driven substantial growth in ENA’s value. With its synthetic dollar protocol and new stablecoin backed by BlackRock, Ethena is positioning itself as a major player in the decentralized finance space.

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DeFi

Growing Demand for Yield Amid High Central Bank Rates ONDO And Ethena not far away

by Ouess
written by Ouess

The demand for yield is increasing as central bank interest rates remain at high levels. In the United States, the Federal Reserve has maintained interest rates at a 23-year high of 5.25% to 5.50%.

While rates in most countries are starting to fall, they are still elevated compared to the pandemic period. This situation has led investors to allocate cash to risk-free assets like government bonds to generate returns.

Yield-Generating Financial Services

High-Yield Cryptocurrencies

Cryptocurrencies are also offering significant yields. Solana has a staking yield of 7%, while Celestia, Cosmos Hub, and Injective offer yields over 10%. For instance, an asset yielding 10% means a $10,000 investment will generate $1,000 annually.

Ondo Finance Yields

Ondo Finance is revolutionizing the crypto yield industry. It is a major player in the Real World Tokenization (RWA) sector, with two funds: US Dollar Yield (USDY) and US Treasuries (OUSG), accumulating over $500 million in assets. These funds offer better alternatives than popular altcoins like Tether, USD Coin, and Dai by paying users for holding them.

USDY Fund

USDY, available for individuals and institutions, invests in bank deposits and short-term US Treasuries, distributing returns to investors. USDY’s yield is 5.7%, slightly higher than the 10-year bond yield of 5.35%. Its best use cases include cash management and yielding collateral.

OUSG Fund

OUSG is a tokenized asset providing access to short-term US Treasuries, primarily invested in the Blackrock USD Institutional Digital Liquidity Fund (BUIDL). However, OUSG has a minimum mint limit of $100k and a minimum redemption of $50k. It will start charging up to 0.35% in January next year and is only available to qualified investors.

ENA and ONDO divergence

Ethena’s Riskier Yield Approach

While Ondo Finance’s assets are backed by real assets, Ethena offers a riskier approach with its USDe stablecoin, which has grown into a $3.3 billion juggernaut. USDe offers a 7.4% yield, one of the highest in the crypto industry, with over 250k holders. However, its methods, involving staked asset consensus and complex derivatives trades, make it riskier. It also faces potential regulatory challenges, especially in the US and Europe.

Conclusion

The demand for yield has led to various investment options, from government bonds to high-yield cryptocurrencies. While USDY offers stability and decent returns, USDe presents higher risks. Investors should carefully consider their risk tolerance and investment goals when choosing between these options.

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