Why ENA is Pushing Higher: A Binance Square Breakdown 🚀
Ethena ($ENA) is seeing a massive surge, and it's not just hype. Here’s a quick look at the bullish catalysts driving its recent pump. 1. USDe’s Explosive Growth: a) USDe's supply has grown by over 75% in the last month, nearing a $10 billion market cap. b) This growth is directly tied to ENA's value and ecosystem fees.
2. Smart Money is Accumulating: a) Whales are Buying: On-chain data confirms reduced sell pressure, while large wallets, including Arthur Hayes, are adding to their holdings.
b) Massive Buyback: A $260 million buyback program by StablecoinX is creating a structural bid, absorbing supply and supporting the price.
3. Bullish Technical Breakout: a) ENA has reclaimed the crucial $0.60-$0.65 zone and is trading above its key moving averages.
b) Bulls are in control, with the next target at $0.88 if momentum continues.
What's your price target for ENA? Drop a comment below! 👇 #ENA #Ethena #BinanceSquare #Altcoin $ENA $BNB
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