Ethena ENA Don Show as Di Most Levered Crypto Bet on Fed Rate Cuts
Ethena ENA token don see quick surge for liquidity and derivatives activity as people dey speculate say US Federal Reserve go cut interest rates. DeFiLlama on-chain data show say ENA Total Value Locked (TVL) rise more than $100 million inside 24 hours reach record $12.05 billion. Meanwhile, CoinGlass talk say Open Interest jump by 19.74%, push ENA derivatives position pass $1.5 billion. Positive Funding Rates and rising trading volume show say traders dey bullish. Ethena Labs co-founder talk say ENA na "the most levered asset to falling interest rates," as e price dey linked to USDe stablecoin expansion wey double in supply after Q4 2024 rate cuts. Before, ENA climb 419% for Q4 2024, fit mean similar rally fit happen again. Technical signals support this tori: ENA break out from descending wedge pattern, plus Money Flow Index at 71.5 and ADX at 38.4 dey show strong upward momentum. Traders fit aim new high near $0.85 if Fed cut rate really happen.
Bullish
Ethena ENA dey show plenti bullish signal wey dey justify say market go better. First, record high TVL growth plus 19.74% increase for Open Interest for derivatives platform dey show say plenty money dey enter market an traders dey get confidence. Second, positive Funding Rates mean sey long traders full ground for market, dis one mean say everybody believe sey ENA price go rise. Third, historical thing wey happen for Q4 2024, when ENA jump 419% after Fed cut rates, show sey another rate-driven rally fit happen again. Last last, technical chart patterns like descending wedge breakout with high Money Flow Index and ADX numbers dey show strong upward momentum. If U.S. Federal Reserve come still cut rates, ENA go use dat leverage to increase gains more. Short-term traders fit shoot for $0.85, while long-term holders fit enjoy steady DeFi liquidity plus stablecoin expansion. Overall, all these factors join body to create bullish outlook.