Is It Too Late To Buy ENA? Ethena Price Surges 10% As Spot Ethereum ETFs Launch, And This Might Be The Next Crypto To Explode

The Ethena worth surged 10% within the final 24 hours to commerce at $0.48 as of 03:51 a.m. EST on buying and selling quantity that skyrocketed 84% to $193 million.

This comes after spot Ethereum ETF (exchange-traded funds) merchandise debuted within the US to strong investor curiosity, sucking in $107 million in web inflows.

In the meantime, Ethena has introduced plans to allocate a portion of its $235 million USDT stablecoin collateral and $45 million surplus reserve into yield-generating real-world asset (RWA) choices. The transfer is seen as a way to diversify its funding portfolio and improve returns for its traders.

From July 20, the worth of Ethena went by a retrace to search out assist at round $0.42, in response to information from GeckoTerminal.

After the ETH ETFs debuted, ERC-20 tokens have seen huge beneficial properties, with ENA hovering from the $0.42 assist to climb up, forming a rounding backside sample on the final day.

Ethena Worth To Proceed Surging Over The Rounding Backside

The Ethena worth goals for a sustained bullish rally because it trades properly above each the 50-day and 200-day Easy Transferring Averages (SMAs).

Furthermore, the Relative Power Index (RSI) is climbing up towards the 70-overbought area, which exhibits that patrons are actively shopping for, a sign of continued investor optimism.

The Transferring Common Convergence Divergence (MACD) is buying and selling up above the impartial line, a sign of the bullish stance by the bulls. The blue MACD line can also be crossing above the orange sign line, forming a bullish crossover. A bullish crossover might encourage the bulls to purchase extra, which can push the token over the rounding backside as they aim $0.53.

The RSI and MACD might encourage optimistic traders to purchase extra, which might push the token up.

Nonetheless, the 200-day SMA crosses beneath the 50-day SMA, forming a dying cross at $0.46. A dying cross could immediate the bears to take management of the worth, which can push the token again to the subsequent assist, round $0.44 (50-day SMA).

In the meantime, as ENA bulls intention for a rally to the upside, the 99Bitcoins YouTube channel, with over 705,000 subscribers, says that Solana GameFi presale Mega Cube (DICE) has the potential to soar 100X after its launch.

GameFi Sensation Mega Cube Zooms Previous $1.65 Million In Blockbuster Presale

Mega Cube is shaking up the crypto gaming panorama, having just lately hit the $1.65 million mark in its presale. The venture stands out as a prime model within the crypto on line casino area, boasting over 10,000 energetic gamers and month-to-month wagers exceeding $50 million.

Its prospects take pleasure in over 4,000 on line casino video games and 50 sports activities and eSports betting choices.

Token holders additionally stand to share within the on line casino’s earnings every day by its distinctive staking system.

Uncover historic treasures and spin your method to BIG wins with our #NewGame launch #TombOfGold by @ThePlayngo at Mega Cube On line casino! 🏺

Prepared for an journey? 😏

🔗 https://t.co/fawORyTnCC pic.twitter.com/J5UahgvUgc

— Mega Cube On line casino (@megadice) June 1, 2024

Now it’s launched its DICE token with the intention of difficult the ascendancy of the crypto on line casino titan Rollbit Coin.

To hitch the presale, you should buy $DICE on the official web site right here for $0.100254 per token utilizing BNB, ETH, or SOL. You can too earn 10% on any purchases made by traders you refer.

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