Ethena ENA dey near $1 as TVL don pass $10.9B for Golden Cross
Ethena ENA don rally close to $1 as protocol Total Value Locked (TVL) don pass $10.9 billion. Di synthetic stablecoin USDe don get market cap pass $10.2 billion, e dey driven by high APYs and cross-chain expansion. Weekly USD inflows reach $1.33 billion, wey dey attract plenty retail and institutional liquidity.
Technical indicators dey bullish for ENA. Golden cross don form as 50-day EMA cross pass 200-day EMA. RSI dey rise and MACD show bullish crossover, but overbought signals make am say make person reason well.
Ethena’s $260 million buyback program dey buy back about $5 million ENA daily, e dey reduce circulating supply. Whale accumulation and rising derivatives open interest show say professional participation dey grow, plus spot and futures volumes don jump to multi-billion dollar level.
Key support levels dey at $0.75 and $0.68, with immediate resistance between $0.84 and $0.87. If e break well over $0.87, e fit target $1.02 and $1.18. Traders suppose dey watch buyback rhythm, USDe adoption and upcoming token unlocks for further catalysts.
Bullish
Di tori yan news combine TVL wey don surge pass $10.9B wit beta technical indicators dem—wey self include golden cross plus RSI and MACD wey dey climb—wey show say ENA get strong upward momentum. Di $260 million buyback program reduce how much ENA dey for market, as whale dem dey gather more and derivatives open interest dey grow, e show say pros dem get confidence. Strong USDe adoption plus spot and futures volume wey reach billions dollars dey further boost positive vibe. Near term catalyst na if price fit break beyond $0.87 plus di steady buyback, while for long term, growth go continue cos USDe dey expand and ecosystem dey integrate. All dis point to beta bullish outlook for ENA price.