Noorr

07/27 02:35

Ethena surges 27%, but here’s how ENA could push 3

Ethena surges 27%, but here’s how ENA could push 38% higher

Will ENA’s underlying bullish catalysts push it higher?Benjamin33-768x432.jpg

ENA pumped 27% following the Anchorage Ethena partnership and a bullish rating by analysts. Will buybacks and corporate treasury drive it higher?

Ethena [ENA] rallied 27% during the intra-day trading session on the 25th July as analysts turned bullish on its renewed growth catalysts. 

In particular, the project could benefit from the stablecoin narrative and rising corporate treasury interest that will reduce VC supply overhang, noted Ryan Watkins, co-founder of Syncracy Capital. 

“$ENA offers one of the only pure-play exposures to stablecoins and tokenisation… Bonus is VC supply overhang now practically neutralized.”

#Check In Daily, Win Prizes Daily — Join the Fun!#ETH price breaks through $4,600, buy or sell?#TRON to Ring The Nasdaq Opening Bell on July 24#HTX Crypto Gifts Carnival Is Live!#HTX DAO Listing Governance is LIVE!

6Share