Ethena price develops inverse head and shoulders sample next integration with USDe

Hey there, curious about Ethena’s newest scoop? Let us dive in! The Ethena selling price has been keeping continuous for the earlier three times, hovering all around $.58. That is a 12.5% increase from its current minimal, but still 48% down below its all-time significant.

Interesting information! Ethena’s builders have been building waves with new integrations for their stablecoin, USDe. Lately, they teamed up with Bitget, a key crypto trade, allowing their whopping 25 million customers to benefit from USDe as collateral for coin-m margined perpetuals. Moreover, customers can love zero fee spot buying and selling and create returns in the make area.

This week, Ethena joined forces with Symbiotic, a staking platform, providing users staking benefits for keeping the ENA token in Mellow. They also get a 30x ENA multiplier, Symbiotic details, and possible LayerZero allocations.

In addition, Ethena teamed up with AAVE, a big player in DeFi, enabling people to deposit USDe stablecoin and leverage their positions with other stablecoins on Aave. They can also deposit many belongings like stETH, weETH, ETH, and WBTC to borrow stablecoins in USDe.

Other USDe partnerships include Bybit, BounceBit, and Blast, a leading layer-2 network. With these collaborations and attractive rewards, Ethena USDe has turn into the fourth-greatest stablecoin in the market, boasting a sector cap of $3.6 billion and 232k holders.

Keep on to your hats! USDe is profitable hearts with its significant 8.6% produce, beating the US government bonds’ present. Nevertheless, some industry experts query the sustainability of this generate in the course of volatile occasions. They attract parallels to the collapse of Terra Luna in 2022, highlighting funding level flips and counterparty challenges as big problems.

Ethena’s Rollercoaster Ride

Inspite of USDe’s surge, Ethena’s ENA token has not found considerably adore recently. The ongoing hazards bordering its stablecoin have pushed its value down approximately 50% from its peak. This trend aligns with the broader altcoin market, currently languishing in a bearish pattern.

Ethena futures open up curiosity

Ethena’s day-to-day trade quantity and futures open fascination have been on a downward pattern given that April.

Ethena price forms inverse H&S amid USDe integrations - 2

Ethena price tag hourly chart

Fingers crossed! Bulls are hoping the modest inverse head and shoulders sample on the hourly chart bucks the pattern. Specialized specialists contemplate this pattern a trustworthy signal for a potential reverse in fortunes.

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