Ethena Price Prediction: ENA Surges 50% As This World-First AR/VR Crypto Closes On $4 Million

General

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The
Ethena
price
soared
50%
to
trade
for
$0.948
as
of
09:03
a.m.
EST
time
as
trading
volume
exploded
nearly
200%.

The
ENA
token
has
merited
the
top
search
position
on
Scopechat
following
the
network’s
recent
airdrop
and
a
flurry
of
whale
transactions.

The
airdrop
of
the
protocol’s
ENA
token
debuted
on
April
2
as
it
started
trading
on
top
cryptocurrency
exchanges.
Based
on
the
report,
the
largest
Ethena
airdrop
recipient
gets
nearly
$2
million.

The
protocol,
known
for
its
innovative
approach
in
the
issuance
of
synthetic
dollars,
aims
to
provide
a
crypto-native
solution
for
money
that
does
not
rely
on
the
infrastructure
of
the
traditional
banking
system.

ENA
is
the
powering
token
for
the
Ethena
decentralized
finance
(DeFi)
protocol,
a
synthetic
dollar
protocol
built
on
the
Ethereum
blockchain.
It
introduces
a
novel
stablecoin
called
USDe.
Unlike
traditional
stablecoins
tied
to
fiat,
the
USDe
is
collateralized
with
crypto
assets
and
short
futures
positions.

Ethena
Labs
launched
the
mainnet
version
of
its
USDe
synthetic
stablecoin
on
February
19.
This
was
after
it
raised
a
round
backed
by
venture
capital
firm
Dragonfly,
among
others.
This
follows
an
earlier
round
of
$6
million
raised
from
Binance
Labs,
Bybit,
OKX
Ventures,
and
Gemini,
among
others.

Analysts
Express
Skepticism
About
Ethena
After
MakerDAO’s
DAI
Allocation

Ethena’s
airdrop
came
on
the
same
day
as
a
Spark
SubDAO
proposal
on
the
MakerDAO
forum.
The
proposal
was
presented
such
that
600
million
of
the
network’s
DAI
tokens
would
be
allocated
to
Ethena’s
USDe
and
staked
USDe
(sUSDe)
through
Morpho
Labs.

An
excerpt
from
the
proposal
indicated,
“This
will
scale
up
gradually
as
Ethena
grows,
but
for
the
time
being,
we
believe
it
is
prudent
to
cap
total
allocation
at
this
level.”
The
move
would
have
a
significant
impact
on
Ethena’s
Total
Value
Locked
(TVL),
seeing
it
grow
significantly.
Ethena
also
indicated
plans
to
diversify
its
delta
hedging
into
Bitcoin
in
the
coming
months.

Nevertheless,
Spark
SubDAO’s
proposal
drew
criticism
from
Aave
(AAVE)
co-founder
Marc
Zeller.
According
to
the
Aave
executive,
the
move
is
“reckless,”
and
proceeded
to
write
a
proposal
to
remove
DAI’s
collateral
status
on
Aave.

Besides
Zeller,
crypto
analyst
famous
for
predicting
UST’s
fall,
TardFiWhale.eth,
posted
a
thread
on
X
to
suggest
that
there
are
several
risks
in
Ethena
USDe.
The
analyst
particularly
stressed
about
the
move
from
MakerDAO.

Ethena
Price
Prediction

The
Ethena
price
is
consolidating
within
the
confines
of
an
ascending
parallel
channel
in
the
30-minute
timeframe.
The
odds
favor
the
upside,
seeing
as
the
Relative
Strength
Index
(RSI)
remains
well
above
the
50
mean
level.
Also,
the
histograms
of
the
Awesome
Oscillator
(AO)
are
in
positive
territory.
Reinforcing
the
bullish
outlook.

Increased
buying
pressure
above
current
levels
could
see
the
Ethena
price
shatter
resistance
at
$0.968.
A
break
and
close
above
this
level
on
the
half-hour
time
frame
would
set
the
tone
for
a
continuation
of
the
trend.

Ethena price


TradingView:
ENA/USDT
30-min
chart

Conversely,
if
ENA
holders
start
cashing
in
on
the
gains
made,
the
Ethena
price
could
retract.
For
the
bullish
thesis
to
be
invalidated,
the
ENA
price
must
break
and
close
below
$0.806.
Such
a
move
would
constitute
a
fall
of
around
15%
below
current
levels.

Meanwhile,
5SCAPE
is
gaining
investor
attention
as
it
pursues
the
world’s
first
AR/VR
crypto
presale
that
connects
the
smartest
minds
together.
Analysts
say
it
could
be
the
next
100X
token.

Promising
Alternative
To
Ethena


5th
Scape
is
out
to
be
a
game-changer
in
the
VR
and
AR
space,
bringing
in
a
new
age
for
this
technology.
It
leverages
the
currently-in-development
Cage
Conquest
MMA
game
model
to
deliver
this
revolution.

Investors
looking
to
diversify
their
portfolio
may
consider
unlocking
the
limitless
potential
of
the
virtual
realm
with
5thScape.
Its
presale
has
already
collected
over
$3.67
million
out
of
a
target
objective
of
$3.75
million.

The
project
focuses
on
VR
games.
However,
there
are
plans
to
feature
other
forms
of
VR
and
AR
content
such
as
educational
experiences,
social
applications,
and
creative
tools.

The
ticker
for
the
5th
Scape
project
is
5SCAPE,
a
utility
token
within
the
ecosystem.
Token
holders
have
unlimited
access
to
premium
VR
content,
voting
rights,
and
potential
staking
opportunities
for
holders.

The
5SCAPE
has
multiple
use
cases.
For
starters,
it
provides
access
to
premium
VR
content,
such
that
holders
receive
exclusive
access
to
games,
experiences,
and
features
within
the
platform.

It
is
a
Play
to
Earn
(P2E)
token,
with
this
mechanism
enabling
players
to
get
incentives
with
5SCAPE
tokens
that
can
be
traded
upon
listing.
Additionally,
the
token
has
a
staking
function,
that
enables
users
to
lock
up
their
tokens
for
a
period
to
earn
rewards.


5th
Scape
Project
Tokenomics

5th
Scape
has
a
total
token
supply
of
5.21
billion.
The
presale
aims
to
sell
80%
of
the
supply,
with
a
fundraising
goal
of
up
to
$15
million.

5Scape tokenomics

5SCAPE
tokens
are
priced
at
$0.00248
each,
with
an
almost
15%
price
increase
coming
soon.

With
the
listing
price
fixed
at
$0.01,
investors
who
buy
now
can
lock
in
gains
of
303%
by
the
time
of
listing.

5SCAPE Presale


Visit
and
buy
5SCAPE
here.

Also
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