{"id":28989,"date":"2024-04-10T19:29:43","date_gmt":"2024-04-10T19:29:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethena-price-reaches-new-all-time-high-heres-why-ena-is-surging\/"},"modified":"2024-04-10T19:29:43","modified_gmt":"2024-04-10T19:29:43","slug":"ethena-price-reaches-new-all-time-high-heres-why-ena-is-surging","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethena-price-reaches-new-all-time-high-heres-why-ena-is-surging\/","title":{"rendered":"Ethena price reaches new all-time high: Here\u2019s why ENA is surging"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/ethena-soars-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/ethena-soars-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/ethena-soars-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/ethena-soars-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Ethena (ENA) price reached highs of $1.49, surging more than 18% in 24 hours as most altcoins struggled.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Bullish sentiment amid new staking rewards for ENA holders could push ENA price higher.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Ethena (ENA) traded to highs of $1.49 on Wednesday, its all-time high that sees the <a href=\"https:\/\/coinjournal.net\/news\/binance-adds-ethena-ena-as-50th-launchpool-project\/\">recently launched crypto project<\/a> rising towards the top 50 cryptocurrencies by market cap.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to data from CoinGecko, Ethena ranked 58<\/span><span style=\"font-weight: 400\">th<\/span><span style=\"font-weight: 400\"> largest with a market cap of over $2.07 billion. The token\u2019s value was around $1.45 at the time of writing, 18% up in the past 24 hours and nearly 30% up this past week.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Why is Ethena price surging today?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Today\u2019s gains for ENA came as Bitcoin hovered near a key level following recent declines. Top altcoins also dropped as the crypto market mirrored stocks, with major US indices slipping amid hit CPI data and US President Joe Biden\u2019s comments on interest rate cuts.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While BTC, ETH and other tokens struggled, ENA price benefitted from a spike in staking. Ethena (ENA) is the native token of Ethena Labs, a synthetic dollar protocol on Ethereum. USDe is a yield bearing stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">An announcement earlier this week of increased reward for stakers looks to have spurred activity, including from top Ethena whales. On Wednesday, Ethena Labs <\/span><a href=\"https:\/\/twitter.com\/ethena_labs\/status\/1778043979873018150\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> integration with top exchange wallets, including Binance Web3, Bybit, OKX Wallet and Bitget Wallet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Users who lock up their USDe for a minimum of 7 days via any of these exchange Web3 wallets will be eligible for a 20% boost on their reward.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Monday, the protocol <a href=\"https:\/\/mirror.xyz\/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341\/P9PXNkAAxV7z6MJXjxq73xrRgUdp36_VR7ZBbgaL4yI\" target=\"_blank\" rel=\"noopener\">rolled out<\/a> its \u201cSeason 2\u201d staking rewards, with users locking 50% or more of their tokens will be eligible to a 50% boost to their reward.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today we introduce <a href=\"https:\/\/twitter.com\/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ENA<\/a> into Season 2 in order to more closely align the growth in USDe with <a href=\"https:\/\/twitter.com\/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ENA<\/a><\/p>\n<p>Users who lock <a href=\"https:\/\/twitter.com\/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ENA<\/a> at a minimum of 50% of their total USDe holdings per wallet will receive<\/p>\n<p>i) 50% increase in their rewards<br \/>ii) the highest number of rewards per day of any pool <a href=\"https:\/\/t.co\/zxVmpGZSN6\">pic.twitter.com\/zxVmpGZSN6<\/a><\/p>\n<p>\u2014 Ethena Labs (@ethena_labs) <a href=\"https:\/\/twitter.com\/ethena_labs\/status\/1777306583921529163?ref_src=twsrc%5Etfw\">April 8, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">According to on-chain <\/span><a href=\"https:\/\/twitter.com\/lookonchain\/status\/1778031942950408645\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">data shared by Lookonchain<\/span><\/a><span style=\"font-weight: 400\">, multiple whales have withdrawn millions of ENA from exchanges and staked since the announcement of Season 2 rewards.<\/span><\/p>\n<p>Ethena recently <a href=\"https:\/\/coinjournal.net\/news\/ethena-labs-announces-750-million-ena-airdrop-for-its-community\/\">unveiled a 750 million ENA airdrop<\/a> for its community.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ethena-price-reaches-new-all-time-high-heres-why-ena-is-surging\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Ethena (ENA) price reached highs of $1.49, surging more than 18% in 24 hours as most altcoins struggled. Bullish sentiment amid new staking rewards for ENA holders could push ENA price higher. Ethena (ENA) traded to highs of $1.49 on [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":28990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28989"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=28989"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/28990"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=28989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=28989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=28989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}