Ethena (ENA) Price Prediction: ENA Eyes $1 Milestone as $10B TVL and Golden Cross Fuel Bullish Momentum
The post Ethena (ENA) Price Prediction: ENA Eyes $1 Milestone as $10B TVL and Golden Cross Fuel Bullish Momentum appeared on BitcoinEthereumNews.com. Ethena’s Total Value Locked (TVL) recently surged past the $10 billion mark—a clear signal of intensifying liquidity in the protocol. According to DefiLlama data, the figure stands at around $10.98 billion. Meanwhile, the synthetic dollar USDe boasts a market capitalization just north of $10.2 billion. This growth stems from USDe’s high APY and rapid multi-chain expansion. The stablecoin has become one of the largest globally, drawing both retail and institutional attention. Technical Analysis: Golden Cross and Momentum Building From a technical standpoint, Ethena has triggered a notable golden cross, where the 50-day EMA has overtaken the 200-day EMA—often viewed as a powerful bullish signal. Supporting this pattern, the Relative Strength Index (RSI) hovers near 74, indicating robust but not yet extreme buying activity, and the MACD has produced a bullish crossover. ENA rebounded strongly from the $0.50 support, gaining over 50%, and remains bullish within a rising broadening wedge, with focus on long setups at key retest levels. Source: AltCryptoTalk via X Recent price action also underlines the upward bias. On August 10, ENA surged 14.7%, rising from approximately $0.64 to $0.81 and breaking out of a bullish flag formation. The rally extended toward $0.85. Supply Dynamics: Buybacks and Whale Activity Tighten Float On the supply side, Ethena has initiated daily buybacks in line with its tokenomics—about $5 million worth of ENA gets repurchased each day from a $260 million fund. This has started to reduce the circulating supply and likely adds a scarcity premium to the token. Ethena holds above $0.75 for three days, eyeing a potential breakout to $1. Source: @CryptoJobs3 via X At the same time, whale and institutional wallets continue accumulating ENA. Addresses holding between 100,000 and 1 million ENA increased by roughly 12% in July and now account for nearly 30% of the circulating supply.…
The post Ethena (ENA) Price Prediction: ENA Eyes $1 Milestone as $10B TVL and Golden Cross Fuel Bullish Momentum appeared on BitcoinEthereumNews.com.
Ethena’s Total Value Locked (TVL) recently surged past the $10 billion mark—a clear signal of intensifying liquidity in the protocol. According to DefiLlama data, the figure stands at around $10.98 billion. Meanwhile, the synthetic dollar USDe boasts a market capitalization just north of $10.2 billion. This growth stems from USDe’s high APY and rapid multi-chain expansion. The stablecoin has become one of the largest globally, drawing both retail and institutional attention. Technical Analysis: Golden Cross and Momentum Building From a technical standpoint, Ethena has triggered a notable golden cross, where the 50-day EMA has overtaken the 200-day EMA—often viewed as a powerful bullish signal. Supporting this pattern, the Relative Strength Index (RSI) hovers near 74, indicating robust but not yet extreme buying activity, and the MACD has produced a bullish crossover. ENA rebounded strongly from the $0.50 support, gaining over 50%, and remains bullish within a rising broadening wedge, with focus on long setups at key retest levels. Source: AltCryptoTalk via X Recent price action also underlines the upward bias. On August 10, ENA surged 14.7%, rising from approximately $0.64 to $0.81 and breaking out of a bullish flag formation. The rally extended toward $0.85. Supply Dynamics: Buybacks and Whale Activity Tighten Float On the supply side, Ethena has initiated daily buybacks in line with its tokenomics—about $5 million worth of ENA gets repurchased each day from a $260 million fund. This has started to reduce the circulating supply and likely adds a scarcity premium to the token. Ethena holds above $0.75 for three days, eyeing a potential breakout to $1. Source: @CryptoJobs3 via X At the same time, whale and institutional wallets continue accumulating ENA. Addresses holding between 100,000 and 1 million ENA increased by roughly 12% in July and now account for nearly 30% of the circulating supply.…
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