The post Top Reasons Why Ethena Price is Rising Today—Will it Reach $1 in 2025? appeared first on Coinpedia Fintech News
The Ethena (ENA) price has recently witnessed a strong price surge, fueled by multiple bullish catalysts. Key drivers include its high-profile listing on South Korea’s Upbit exchange, growing institutional adoption via Coinbase integration, and impressive protocol revenue milestones. These developments have significantly boosted investor confidence, leading to a sharp uptick in trading volume and price action. With over $290 million in revenue and a solid burn mechanism in place, ENA is gaining momentum, reinforcing its position as a rising force in the DeFi space.
Here are the top reasons why the ENA price is rising:
Listing on Upbit has emerged as the major catalyst of the current rally, as the prices jump by over 20% following a massive rise in the trading volume
Ethena Labs announced the integration of USDe hedging via Coinbase International using ClearLoop. These partnerships could broaden institutional access, reinforcing confidence in the protocol
The platform has surpassed $290 million in protocol revenue, making it the second-fastest to reach $100 million.
Besides, here are the top reasons why the ENA price may continue to rise:
Upcoming Token Unlocks: Token distributions may create short-term sell pressure
The resistance appears to be pretty strong, and hence, a breakout beyond the range could help the price achieve higher targets
Sustainability of yield model: if future funding rates compress further, USDe yield attractiveness could wane, impacting long-term economics
Ethena Price Analysis: How High Can ENA Price Go?
Ethena price has broken above the crucial descending trend line, which was acting as a strong resistance since May. Besides, the trading volume surged above $1.2 billion, a rise of over 370%, soon after the listing on South Korea’s exchange, Upbit. The ENA price broke above the falling wedge pattern and hence now appears to be primed for a 40% rise.
The wider perspective of the ENA price seems to be bullish, as the token has begun with a parabolic recovery. The supertrend has flipped to bullish, signifying the beginning of an uptrend. On the other hand, the OBV has displayed a parabolic curve, suggesting a sudden rise in the buying pressure. This also suggests a potential upward price movement, which could further pave the way for higher targets.
However, to validate the upcoming move, a rise above $0.5 is very crucial, which could help the token to complete a huge double-bottom pattern. Once the Ethena price breaks out from the pattern, the token could enter a discovery phase and eventually discover new highs.