$THE
Pumped 40.83% over the last 24h, outpacing both its 7-day (+28.69%) and 30-day (+2.6%) gains. The rally aligns with surging DEX perpetual trading adoption and bullish technicals.
Key drivers:
Perpetuals Integration – THENA’s new 60x leverage via Orbs’ Layer-3 protocol boosted trading activity.
BNB Chain Momentum – Ecosystem tokens surged as BNB neared $1,000, lifting demand.
Technical Breakout – Price crossed critical moving averages with RSI signaling room to run.
Deep Dive
1. Perpetual Trading Launch (Bullish Impact)
Overview: On July 28, THENA integrated Orbs’ Perpetual Hub Ultra, enabling 60x leveraged trading across 300+ pairs. This Layer-3 solution routes liquidity from CEXs like Binance, bypassing the need for native liquidity pools (Orbs).
What this means: The upgrade positions THENA as a DeFi derivatives leader, attracting traders seeking decentralized, high-leverage exposure. Volume spikes typically increase protocol fee revenue, which is redistributed to $THE stakers via THENA’s ve(3,3) model.
What to look out for: Sustained trading activity metrics and whether open interest in perpetuals offsets any sell pressure from incentive claims.
2. BNB Chain Ecosystem Rally
Overview: BNB’s push toward $1,000 triggered rallies in key ecosystem tokens like PancakeSwap (+5%) and Lista DAO (+222% YTD). THENA’s TVL jumped 40% in 30 days to $1.68B as BNB staking demand grew (Lista DAO).
What this means: THENA benefits from BNB’s network effects but remains exposed to broader ecosystem volatility. The 388% 24h volume spike to $56.5M suggests speculative interest, which could reverse if BNB stalls.
3. Technical Breakout.
Overview: THE broke above its 7-day SMA ($0.346) and 30-day SMA ($0.360) with RSI-14 at 44.5 – neutral but recovering from oversold levels. MACD’s histogram turned positive (+0.000849), signaling bullish momentum.
