Why $ENA is not Booming?
As of March 18, 2025, Ethena (ENA) is trading at approximately $0.3593, reflecting a 4.86% decrease over the past 24 hours.
Recent developments include Ethena's collaboration with Securitize to launch Converge, an institutional DeFi blockchain. In this network, ENA serves as a stakeable asset (via sENA), securing the network with a permissioned validator set composed of traditional finance entities and centralized exchanges.
Technical analysis indicates that ENA is currently consolidating after a strong rally, with key support at $0.3650 and resistance at $0.3750. Monitoring volume levels is essential, as low-volume breakouts can often be misleading.
Please note that cryptocurrency markets are highly volatile, and it's crucial to conduct thorough research before making any investment decisions.