Ethena Price rose to the highest point in more than two weeks, because the total value locked (TVL) and the income jump to a record high.
Summary
- Ethena Price could rise by 80% this year, because the total value locked is increasing.
- It has risen to more than $ 12.8 billion, an increase compared to the low point of $ 5 billion.
- Stablecoinx raises more money to collect more Ena tokens.
Ethena (ENA) token jumped to $ 0.7660, an increase of more than 230% from the lowest point this year. This recovery pushed its market capitalization to more than $ 5.8 billion and its completely diluted appreciation of $ 11.1 billion.
Ethena Price has risen in the midst of the current growth of ecosystem, with the Total value locked Strive for a record high of $ 12.85 billion, much higher than the low of $ 5.5 billion. The TVL has been on an upward route since 2024, when it started the year at $ 79 million.
The TVL is powered by its Usde synthetic stablecoin who is in the hands of nearly 800K users and has an annual return of 7%, higher than the return of the 4%state.
This growth has led to more reimbursements and turnover in the network. The costs in the third quarter to date are $ 109 million, higher than the $ 27 million that made it in the same quarter last year. Turnover so far is $ 7.65 million, an increase of $ 1.15 million in Q2.
Ena Price has also jumped in the midst of the continuous accumulation by Stablecoinx, which yields $ 530 million. It has already collected $ 895 million in financing, which will add more than 3 billion tokens to its balance.
These acquisitions will stimulate ENA’s question at a time when whales have continued to collect them. They now have 57 million ENA -Tokens, an increase of more than 32% in the last 30 days.
Ethena Price Technical Analysis
The daily time frame shows that the ENA price has strong technical means that can push them much higher in the coming weeks. It has formed a double bottom pattern for $ 0.2490 and a neckline for $ 0.4570.
The coin was a golden intersection pattern in July, because the 50-day and 100-day advancing averages crossed each other. Recently it has formed a bullish flag pattern and it has been moved above the top of its channel.
That is why token is likely to have a strong bullish breakout, with the first target $ 0.8595, the top of the flag. A movement above that price will push it to the resistance point at $ 1,3255, the highest point in November last year, which is approximately 80% above the current level.
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