Ethena Price Prediction: ENA Surges 50% as This World’s First AR/VR Cryptocurrency Closes at $4 Million | Trending Viral hub

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Ethena price soared 50% to trade at $0.948 at 09:03 am EST as trading volume soared almost 200%.

The ENA token has earned the top search position on Scopechat following the network’s recent airdrop and an avalanche of whale transactions.

The protocol’s ENA token airdrop debuted on April 2 when it began trading on major cryptocurrency exchanges. According to the report, Ethena’s biggest airdrop receiver receives nearly $2 million.

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

ENA is the token that powers the Ethena decentralized finance (DeFi) protocol, a synthetic dollar protocol built on the Ethereum blockchain. Introduces a new stablecoin called USDe. Unlike traditional fiat-pegged stablecoins, USDe is collateralized by cryptoassets and short futures positions.

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

Analysts Express Skepticism About Ethena After MakerDAO DAI Allocation

The Ethena 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 in USDe (sUSDe) through Morpho Labs.

An excerpt from the proposal states: “This will be gradually expanded as Ethena grows, but for the time being, we believe it is prudent to limit the total allocation to this level.” The move would have a significant impact on Ethena’s total value locked (TVL) as it would grow significantly. Ethena also indicated plans to diversify its delta hedge into Bitcoin in the coming months.

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

In addition to Zeller, the crypto analyst famous for predicting the fall of UST, TardFiWhale.eth, posted a thread on X to suggest that there are several risks in Ethena USDe. The analyst especially highlighted the MakerDAO movement.

Ethena Price Prediction

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

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

Ethena Price

TradingView: ENA/USDT 30-Minute Chart

On the contrary, if ENA holders begin to cash in on the gains made, the price of Ethena could pull back. For the bullish thesis to be invalidated, ENA price must break and close below $0.806. Such a measure would mean a drop of around 15% below current levels.

Meanwhile, 5SCAPE is attracting investor attention as it pursues the world’s first AR/VR cryptocurrency pre-sale that connects the smartest minds. Analysts say it could be the next 100X token.

Promising alternative to Ethena

5th escape aims to change the rules of the game in the virtual reality and augmented reality space, generating a new era for this technology. It takes advantage of the Cage Conquest MMA game model currently in development to deliver this revolution.

Investors looking to diversify their portfolio can consider unlocking the unlimited potential of the virtual realm with 5thScape. Its pre-sale has already raised over $3.67 million out of a target goal of $3.75 million.

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

The symbol of 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, so holders receive exclusive access to games, experiences and features within the platform.

It is a Play to Earn (P2E) token, and this mechanism allows players to earn incentives with 5SCAPE tokens that can be exchanged upon listing. Additionally, the token has a staking feature that allows users to lock their tokens for a period to earn rewards.

Tokenomics of the fifth Scape project

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

5Scape tokenomics

5SCAPE tokens are priced at $0.00248 each, and there will soon be a price increase of almost 15%.

With the trading price set at $0.01, investors who buy now can make gains of 303% at the time of listing.

5SCAPE Pre-sale

Visit and purchase 5SCAPE here.

Also read:

Smog (SMOG) – Meme Coin with Rewards

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  • First Airdrop Season Available Now
  • Earn XP to qualify for a share of $1 million
  • Featured on Cointelegraph
  • Staking Rewards: 42% APY
  • 10% discount on free sale – smogtoken.com

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