Ethena Price Prediction: ENA Plummets 10% As Arthur Hayes Moves $6.46M Ethena, While This Crypto Wallet Token Soars Past $7 Million

The
Ethena
price
plunged
over
10%
in
the
last
24
hours
to
trade
at
$0.7929
as
of
3:55
a.m.
EST
as
investors
offload
their
holdings
in
the
crypto
on
the
market.

This
drop
in
the
ENA
price
comes
as
BitMEX
founder


Arthur
Hayes

started
decreasing
his
exposure
to
the
crypto
in
recent
weeks.
After
depositing
7.85
million
tokens
to
Binance
on
Dec.
21,
2024,
on–chain
analytics
platform
Lookonchain
flagged
another
massive
deposit
made
in
the
last
24
hours.

According
to
the
firm,
Hayes
sent
7.85
million
ENA,
valued
at
$6.46
million,
to
Binance
and
Bybit.

Arthur
Hayes(@CryptoHayes)
deposited
7.85M

$ENA($6.46M)
to

#Binance
and

#Bybit
again
15
mins
ago.https://t.co/lwQqYTPbua

pic.twitter.com/ah9FZaj6wg

—
Lookonchain
(@lookonchain)

January
13,
2025

Ethena
Price
Resting
On
A
Critical
Support 

4-hour
chart
for
ENA/USD
(Source:
GeckoTerminal)

The


Ethena

price
has
been
in
a


consolidation

range
between
$0.7932
and
$0.9384
over
the
past
few
days.
In
recent
hours,
the
altcoin’s
price
has
started
to
drop
towards
the
lower
boundary
of
this
sideways
channel.
Should
ENA
fall
below
$0.7932
within
the
next
12
hours,
it
could
be
at
risk
of
plunging
to
the
subsequent
support
level
at
$0.6661.

On
the
other
hand,
a
rebound
from
the
$0.7932
support
in
the
coming
hours
could
mark
the
end
of
the
Ethena
price’s
drop.
Traders
will
likely
start
to
enter
into
long
positions
for
the
altcoin
in
this
alternative
scenario.
This
potential
buy
volume
could
then
lead
to
a
test
of
the
upper
boundary
of
the
current
price
channel
at
$0.9384.

Continued
backing
from
bulls
should
the
Ethena
price
break
above
$0.9384
might
then
lead
to
a
climb
to
as
high
as
$1.0801
in
the
short
term.

Technicals
Warn
The
Ethena
Price
Might
Continue
To
Drop

From
a
technical
perspective,
indicators
on
the
crypto’s
4-hour
chart
warn
the
Ethena
price
might
drop
in
the
coming
24
hours.
Both
the
Moving
Average
Convergence
Divergence
(MACD)
and
the
Relative
Strength
Index
(RSI)
are
flashing
bearish.

A
major
bearish
technical
flag
was
triggered
by
the
MACD
in
the
last
couple
of
hours.
During
this
period,
the
MACD
line
crossed
below
the
MACD
Signal
line.
Traders
usually
see
this
technical
event
as
an
indication
that
a
crypto
has
entered
a
negative
cycle.
With
the
gap
between
the
two
lines
growing,
it
seems
bears’
momentum
is
picking
up
steam
as
well.

Meanwhile,
RSI
readings
have
fallen
from
just
below
the
neutral
50
benchmark
to
extreme
oversold
territory
below
30.
Although
the
current
low
reading
could
be
seen
as
a
buy
opportunity,
it
is
not
unusual
for
the
indicator
to
remain
this
low
when
a
crypto
is
being
dumped
by
traders.
The
negative
slope
of
the
RSI
line
suggests
this
might
be
the
case
now.

As
sellers
maintain
their
control
over
the
Ethena
price,
the
presale
for
crypto
wallet
token


Best
Wallet
(BEST)

has
managed
to
raise
over
$7
million.
Crypto
Gains,
a
popular
YouTuber
with
more
than
141K
subscribers,
says
BEST
could
surge
10X
after
its
launch.

The
Ultimate
Crypto
Storage
Solution

Best
Wallet
is
a
crypto
storage
solution
that
comes
with
all
of
the
functionality
and
features
investors
will
ever
need
to
manage,
secure
and
grow
their
digital
asset
holdings.
Some
of
the
project’s
standout
features
include
the
ability
to
seamlessly
swap
from
one
crypto
to
another,
the
option
to
stake
multiple
cryptos
within
one
app,
and
the
option
to
participate
in
iGaming
projects.

Investors
can
also
rest-assured
that
their
assets
are
safe,
given
the
wallet’s
non-custodial
nature.
This
means
that
only
users
have
access
to
their
private
keys,
making
Best
Wallet
a
much
safer
option
for
crypto
storage
than
a
centralized
exchange
platform.

The
Fastest
Growing
Wallet
in
Crypto!

In
a
crowded
market,
Best
Wallet
delivers
the
tools
you
need
to
gain
an
edge.
????

1️⃣
Exclusive
alpha
on
new
projects.
2️⃣
Buy
and
claim
tokens
in
the
app.
3️⃣
Manage
all
your
assets
across
multiple
chains
in
one
place.

This
is
why
the
Best…

pic.twitter.com/AT4yos1CmG

—
Best
Wallet
(@BestWalletHQ)

December
30,
2024

Token
holders
are
also
given
access
to
exclusive
market
insights
including
real-time
data,
investor
sentiment
and
updates
on
key
projects.
With
this
information
easily
accessible,
investors
can
stay
ahead
of
the
curve
in
the
digital
asset
space.

Investors
can
also
unlock
additional
features
within
the
Best
Wallet
app
by
purchasing
the
project’s
native
BEST
token.
By
simply
holding
the
crypto,
investors
will
gain
early
access
to
new
projects,
unlock
reduced
transaction
fees
as
well
as
higher
staking
rewards,
while
simultaneously
being
allowed
to
participate
in
the
project’s
governance.

Investors
Bet
Big
On
BEST’s
Future

With
the
range
of
features
on
offer
within
the
Best
Wallet
ecosystem,
it’s
easy
to
see
why
investors
have
already
poured
over
$7
million
into
the
project’s
ongoing
ICO.
There
is
also
a
269%
staking
APY
on
offer
to
presale
buyers,
which
might
be
another
factor
pulling
investors
in
at
this
early
stage.

Anyone
can
get
in
on
these
rewards
by
purchasing
BEST
through
the
widget
embedded
on
the
project’s
website.
Thereafter,
investors
will
just
need
to
put
their
tokens
to
work
through
the
staking
page
on
the
website
to
start
earning
the
passive
crypto
rewards.

Purchase
and
stake
BEST
here
for
the
269%
APY.

Related
Articles: