Ethena's value surged by 4% in the last 24 hours, reaching $1.0893, amid former BitMEx CEO Arthur Hayes's transactions, who deposited 2 million $ENA into Bybit at an average price of $0.97.
Ethena Price Jump
Ethena's price rose by 4% within the last day, hitting $1.0893 at 11:17 p.m. EST on trading volume that dropped to $762 million, a 13% decrease. Concurrently, Arthur Hayes, former CEO of BitMEx, deposited 2 million $ENA into Bybit, valued at $2.06 million, at an average cost of $0.97.
Market Performance Analysis
In recent months, Ethena's price has steadily recovered from $0.22 support in September. Current data reveals ENA hit the $1.03 resistance, completing a rounding bottom pattern. Its current consolidation phase stays above key resistance. As Ethena's value fluctuates, finance analysts note a maintained positive trend supported by 50-day and 200-day Simple Moving Averages (SMAs). The Relative Strength Index (RSI) indicates a moderate bullish momentum at 56.19. Rising prices may further leap towards $1.6 resistance, whereas a decrease could drop prices to the support level around $0.78.
Solaxy's Successful Presale
Solana has garnered admiration among developers due to low fees and fast transaction speeds. Solaxy, offering a layer 2 solution, attracted great interest with its presale raising over $4.5 million in funding. Meanwhile, investors are enticed by substantial annual staking rewards reaching up to 869%. At presale, each token is priced at $0.001576, drawing increasing numbers of buyers.
The relevance of Ethena's price rise underscores the active involvement of market-leading figures like Arthur Hayes, while Solaxy continues to build layer 2 solutions to enhance and accelerate the efficiency of Solana.
