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ENA Price Surges Despite Arthur Hayes’ $8 Million Sale

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3 months ago

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Ethena (ENA) didn’t let the significant sell-off by Arthur Hayes deter its uptrend. Hayes, after publicly supporting Ethena Labs, unstaked 9 million ENA and sent 7 million ENA ($8.44 million) to Binance today.

He previously withdrew 16.79 million ENA from Binance in late November at $0.666 for an estimated $8.71 million profit (+78%). Hayes currently holds 9.96 million ENA valued at $11.7 million, with 7.94 million tokens staked.

Ethena (ENA) Continues to Outperform the Market Despite Arthur Hayes Sale

Ethena (ENA) continued its upward momentum despite significant selling activity by prominent crypto investor Arthur Hayes.

According to SpotOnChain, Hayes unstaked 9 million ENA tokens and deposited 7 million ENA (worth $8.44 million) to Binance earlier today, even after publicly expressing support for Ethena Labs. This follows his earlier withdrawal of 16.79 million ENA from Binance between November 26 and 28 at an average price of $0.666, totaling $11.19 million.

Currently, Arthur Hayes holds 9.96 million ENA, valued at $11.7 million, with 7.94 million tokens staked. His strategic trades have earned him an estimated profit of $8.71 million, representing a 78% return. Despite these developments, ENA’s price has shown resilience, continuing to rise in the face of selling pressure.

Ethena has been doing great in the last 24 hours, up 8.47%, while major cryptocurrencies such as Bitcoin and Ethereum continue to struggle after a sharp market downturn earlier this week.

Even though it had a strong rebound today, ENA previously experienced a massive 34.62% fall from $1.30 on December 16 to $0.85 by December 20. The token has recovered excellently and is now trading at $1.08. Having a market capitalization of about $3.17 billion, ENA is now the 43rd largest cryptocurrency, showing strength in a highly volatile market.

Ethena ($ENA) Poised for 85% Surge, Says Analyst

It seems Arthur Hayes didn’t listen recent prediction by crypto analyst and YouTuber Chill Trader. He shared a chart for ENA/USDT that indicated Ethena could surge by 85.34%. He highlighted a bullish Cup-and-Handle pattern, with key support at $0.94, which is currently being tested. If this level holds, the analyst predicts a price target of $2.15, supported by strong momentum from the 200-day Exponential Moving Average (EMA) at $0.63, well below current levels.

https://twitter.com/Chill_trader99/status/187000682226792866

For instance, a drop below $0.94 might push it further down to the lower support line of $0.86. Chill Trader added that volume is essential, while strong buying volume is required for a bounce off of support, and high selling volume would show a breakdown.

In addition to the bullish technical signals, recent strategic partnerships add to the case for a potential surge in Ethena’s price. The project has partnered with Donald Trump’s World Liberty Financial (WLFI) and investment giant BlackRock, signaling growing institutional interest.

Ethena’s partnership with WLFI brings the sUSDe stablecoin as collateral to its Aave-backed DeFi platform and is, therefore, getting a lot of attention in the circles of decentralized finance. On the other hand, BlackRock focuses on strategies in risk management for tough markets with returns from treasury investments.

On December 16, they introduced USDtb, a new stablecoin backed by BlackRock’s BUIDL Fund, which was developed in collaboration with tokenization platform Securitize.

The growing buzz surrounding Ethena’s partnerships and the potential influence of a Trump-backed administration has sparked increased interest in ENA, suggesting a promising outlook for the cryptocurrency in the near future.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of expertise in macroeconomics, technology, and the crypto and blockchain sectors.

She began her career in 2005 as a lifestyle writer for *Cosmopolitan* before transitioning to business and economic reporting for renowned outlets like *Forbes* and *Bloomberg*.

Inspired by thought leaders like Don and Alex Tapscott and Laura Shin, Teuta embraced blockchain’s potential, viewing cryptocurrency as one of humanity’s most transformative innovations.

Since 2014, she has specialized in fintech, focusing on crypto, blockchain, NFTs, and Web3. Known for her strong collaboration and communication skills, Teuta also holds dual MAs in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Holds $84K, ATOM & FIL Become Top Gainers

Published

9 hours ago

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April 4, 2025

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Crypto Prices Today (April 4): The broader market sentiment remains uncertain this Friday as Bitcoin (BTC) price held around the previous day’s levels, at $83K. Moving on to other metrics, the global cryptocurrency market cap jumped slightly by 0.20% to $2.6 trillion. The fear and greed index stood at 25, signaling a cautious sentiment in the market at the moment.

Major league altcoins like Ethereum (ETH) and Solana (SOL) also retained a trading session near the previous day’s levels in the interim. However, Cosmos (ATOM) and Filecoin (FIL) surfaced as the day’s top gainers by defying the broader trends.

Crypto Prices Today: BTC At $83K, Altcoins Resilient

Despite the broader market turmoil caused by Donald Trump’s announcement of reciprocal tariffs, crypto prices today have showcased resilience by preventing major downturns. After slipping to as low as the $81K mark, BTC price regained a hold above $84K today. ETH also faced heightened turbulence, although it maintained a hold above $1,800.

Conversely, ATOM and FIL tokens have defied the broader market trend to secure a spot among the day’s top gainers.

BTC Price Sits At $84K

At the time of reporting, the flagship crypto’s price chart indicated a roughly 1% increase in value and closed in at $84,211. Its market dominance was up by 0.09% intraday, reaching 62.01%. Notably, BTC has outperformed major league altcoins, as indicated by its market dominance.

Coinglass data further signaled rising market interest in the asset. Bitcoin futures OI jumped roughly 4% over the past day, reaching $54.61 billion.

Nevertheless, traders and investors reflect an uncertain stance over future price prospects as Trump’s tariffs have rattled broader markets globally. CoinGape previously reported that BTC is expected to mimic stock market actions amid global trade war tensions.

All eyes are now set on the next U.S. Fed meeting, as it could pave the way for a market sentiment shift.

ETH Price At $1,800

ETH price traded at $1,820 after recovering from $1,751 over the past day. The second-largest crypto by market cap boasted an evaluation of $220.35 billion.

Ethereum’s futures OI shot up by 3.5% to reach $20.68 billion, per the latest Coinglass data. This statistic indicated that the coin’s derivatives market is seeing heightened activity. Another buzzworthy update for Ethereum is that the Pectra upgrade is set to go live on May 7 next month.

XRP Price Jumps 2% & Defies Crypto Market Trend

Ripple’s coin XRP managed to gain over 2% despite the broader crypto market turmoil to reach $2.08. Its 24-hour bottom and peak were recorded as $1.97 and $2.10, respectively.

The latest buzz within the Ripple community remains Coinbase’s XRP futures listing. Notably, CoinGape reported that the crypto exchange behemoth filed an application with the CFTC for this listing.

On the other hand, the U.S. SEC’s recent closed-door meeting solidified the chances of an imminent settlement of the Ripple lawsuit.

SOL Price Today

Solana price hovered around the previous day’s levels and is trading at $119.27. Its 24-hour low and high were registered as $112.48 and $119.13 in the past 24 hours.

Intriguingly, Coinglass data revealed a 3% surge in Solana’s futures OI to $4.84 billion, underscoring burgeoning trading activity in the derivatives market. Solana’s market cap jumped nearly 1% from yesterday to $61.44 billion.

Recently, the U.S. SEC made a favorable approach toward crypto by acknowledging Fidelity’s SOL ETF filing.

Let’s take a look at the market’s leading gainers for the day.

Crypto Prices Today: Top Gainer

Cosmos (ATOM)

Price: $4.83
24-Hour Gains: +9%

ATOM’s price surged alongside a new trade offering unveiled by eToro recently. The social investing platform launched staking options for the crypto, paving the way for investor interaction with assets.

Filecoin (FIL)

Price: $2.95
24-Hour Gains: +8%

FIL price soars against the backdrop of its recent listing on S. Korean crypto exchange Upbit.

Pendle (PENDLE)

Price: $3.14
24-Hour Gains: +8%

PENDLE price soars alongside heightened whale accumulations, as reported by CoinGape recently.

Crypto Prices Today: Top Loser

Pi Network (PI)

Price: $0.5477
24-Hour Loss: -13%

Berachain (BERA)

Price: $5.81
24-Hour Loss: -10%

Toncoin (TON)

Price: $3.52
24-Hour Loss: -7%

Overall, the broader market sentiment remains uncertain amid macroeconomic heat. Crypto market traders and investors eagerly await major price action shifts.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano Price Can Clinch $1 As It Eyes Bounce From New Support Zone

Published

17 hours ago

on

April 4, 2025

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While predictions for Cardano to $1 may seem like a far cry, a cryptocurrency expert has injected new life into the claims. Cardano’s price is headed below 50 cents in search of a new support zone that can serve as a springboard to reach new highs.

Cardano Price Can Still Clinch $1 Despite Price Slump

Market technician Jonathan Carter in an analysis on X predicts that Cardano’s price can reclaim the $1 price point in the coming months. According to Carter, the recent ADA correction will not be a hindrance for Cardano’s price to reach $1.

ADA has lost a jarring 13% over the last week and trades at $0.64 in an unremarkable week for the cryptocurrency. On the daily charts, prices have generally moved sideways, underscoring a lack of investor enthusiasm.

For Carter, Cardano’s recent decline has seen it fail to stay above the $0.65 support level. The analyst opined that a downtrend is the offing for the Cardano price that could see a new support zone of $0.59. Carter says the new $0.59 support zone will hurl Cardano price to reach $1.

cardano headed toward new support levelcardano headed toward new support level

“Despite the long correction, the price still has a chance to bounce off this support and rise towards $1,” said Carter. “Otherwise, we will fall to the lower border of the broadening wedge.”

While some investors are eyeing an ADA bounce to $0.70, a plausible play will be a slump below $0.60 before the start of a rally.

A Slew Of Positives For ADA

Despite the pervading negative sentiment around ADA price, the cryptocurrency has a wave of positive fundamentals going for it. Cardano price spiked following Charles Hoskinson’s confirmation of Ripple’s RLUSD on ADA.

Furthermore, Charles Hoskinson reveals that Cardano will play a major role in Bitcoin decentralized finance (DeFi) application. In more positive technicals, Cardano price is forming a cyclical pattern from 2024 that can send prices to astronomical proportions in May.

While the prediction pegged prices at $2.5, optimists say ADA price to $10 is not a crazy hypothesis. The report cites present solid fundamentals and ADA’s over 1,000% spike to set its all-time high back in 2021 as pointers for the seismic rally to $10.

 

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Founder CZ Signs MoU With Kyrgyzstan For Web 3 Development

Published

1 day ago

on

April 3, 2025

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Binance founder Changpeng Zhao (CZ) has inked a deal with Kyrgyzstan’s National Investment Agency to trigger Web 3 adoption metrics. Both parties have reiterated a commitment to integrate Web 3 technologies into every facet of the local economy leaning on CZ’s expertise.

Kyrgyzstan Turns To Binance Founder CZ For Web 3 Direction

According to an X post by Kyrgyzstan President Sadyr Zhaparov, the Central Asian country has inked a deal with CZ. The Binance founder and the National Investment Agency signed a Memorandum of Understanding (MoU) to develop the local Web 3 ecosystem.

Signed with the consent of the president, parties will commit to building out a thriving cryptocurrency ecosystem for residents. To achieve this, the National Investment Agency will lean on Zhao’s expertise as the Binance founder takes on an advisory role.

“The signing of the Memorandum opens new horizons for the development of digital technologies and the blockchain ecosystem in the country,” said President Zhaparov.

Furthermore, CZ says the MoU will extend to distributed ledger technology (DLT) and real-world application of blockchain outside of speculation. However, while not expressly stated, pundits theorize that the founder of the top cryptocurrency exchange will explore cross-border use cases and other financial utility for cryptocurrencies.

There are plans to train residents on blockchain, cybersecurity, virtual asset management, and other emerging technologies. The economic impact of the Web 3 initiative is far-reaching and will contribute a chunk to Kyrgyzstan’s GDP by 2030.

CZ Excited To Take On The Advisory Role

CZ has expressed his commitment to the advisory role, noting that Kyrgyzstan is the latest in a line of MoUs. The Binance founder has previously provided advisory services in both official and unofficial capacities on cryptocurrency regulatory frameworks and real-world DLT applications.

“I find this work extremely meaningful,” said CZ.

Amid reciprocal tariffs affecting crypto prices, CZ disclosed that his advisory services to countries do not extend to geopolitics.

Apart from his advisory role, Zhao has donated a portion of his wealth to disaster relief in affected regions. The latest is a hefty donation of over $1 million to earthquake relief efforts in Myanmar and Thailand. Beyond charitable donations, the Binance founder has downplayed the impact of exchange listing on token prices.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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