{"id":13701,"date":"2025-10-18T15:00:46","date_gmt":"2025-10-18T15:00:46","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethena-price-eyes-a-30-surge-as-whales-buy-but-a-death-cross-is-a-risk\/"},"modified":"2025-10-18T15:00:51","modified_gmt":"2025-10-18T15:00:51","slug":"ethena-price-eyes-a-30-surge-as-whales-buy-but-a-death-cross-is-a-risk","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethena-price-eyes-a-30-surge-as-whales-buy-but-a-death-cross-is-a-risk\/","title":{"rendered":"Ethena price eyes a 30% surge as whales buy, but a death cross is a risk"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethena price rose for two consecutive days as whales continued buying, and exchange balances dipped to their lowest point in months as USDe demonstrates ongoing stability.<\/p>\n<div id=\"cn-block-summary-block_4ae67bb8dca1d181ca020bff3b22c368\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethena price has rebounded from the lowest point this month.<\/li>\n<li>The USDe stablecoin has maintained its peg this week.<\/li>\n<li>Whales and public figure investors have continued to accumulate.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Ethena (ENA) token rose to $0.4700, up by 210% from its lowest level this month. This rebound has brought its market cap to over $3.2 billion.\u00a0<\/p>\n<p>ENA price has rebounded after the USDe stablecoin maintained its peg, a week after it briefly dropped below $1 amid the crypto market crash.\u00a0<\/p>\n<p>The coin regained its peg after the developers shared data showing that it was overcollateralized. According to its website, USDe has a total supply of $12.18 billion against total reserves of $12.25 billion. These reserves are in the form of Bitcoin (BTC), Ethereum (ETH), and other liquid stablecoins.<\/p>\n<p>ENA token also jumped after the latest partnership between Ethena and Conduit, a platform that powers 55% of chains on Ethereum. This partnership means that developers using Conduit now have access to Ethena\u2019s infrastructure to build their own stablecoins.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Ethena price has also rebounded, as on-chain data shows that whales have continued buying it. These investors now hold 46.6 million ENA tokens, up from 41.6 million on Oct. 1. Soaring whale holdings is usually a sign that experts expect the price to continue rising.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\"><em>ENA whales are buying the dip | Source: Nansen<\/em><\/figcaption><\/figure>\n<p>Investors like Arthur Hayes and Kain Warwick now hold 66.9 million coins, a 600% increase from the same period last month.\u00a0<\/p>\n<p>The ongoing accumulation has likely contributed to the plunging ENA tokens on exchanges. There are now 4.58 billion ENA tokens on exchanges, down from 4.94 billion on Oct. 7.\u00a0<\/p>\n<p>Falling exchange balances is a sign that investors are not selling their tokens, but are instead moving them to self-custody wallets.<\/p>\n<h2 class=\"wp-block-heading\">Ethena price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"3574\" height=\"2038\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/10\/1760799646_76_Ethena-price-eyes-a-30-surge-as-whales-buy-but.webp.webp\" alt=\"Ethena price\" class=\"wp-image-14426381\"><figcaption class=\"wp-element-caption\">ENA price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that the ENA price formed a double-top pattern at $0.8538, its highest point in August and September.<\/p>\n<p>Ethena token then crashed below the neckline at $0.6060 during the recent crash that pushed it to a low of $0.1475. It then bounced back and is hovering slightly below the psychological point at $0.50.\u00a0<\/p>\n<p>The most likely scenario is where the token rebounds and hits the key resistance at $0.6060, which is about 30% above the current level.\u00a0<\/p>\n<p>However, the risk is that the token could form a death cross pattern, which happens when the 50-day and 200-day Exponential Moving Averages cross each other. If this pattern forms, there is a risk that it will resume the downtrend and retest the year-to-date low of $0.1475.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>What Is Ethena?<\/strong><\/h2>\n<p>The Ethena token is a relatively new cryptocurrency that\u2019s designed to provide price stability without relying on traditional collateral or centralized mechanisms. <\/p>\n<p>Ethena utilizes a unique algorithmic approach that aims to stabilize its value through elastic supply and demand, making it different from other stablecoins like USDT or USDC, which are backed by fiat reserves.<\/p>\n<p>Ethena was developed by Ethena Labs, a team focused on decentralized finance (DeFi) protocols. <\/p>\n<p>The core idea behind the Ethena project is to create a stablecoin that can retain value stability without the need for centralized control or significant collateral backing. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethena price rose for two consecutive days as whales continued buying, and exchange balances dipped to their lowest point in months as USDe demonstrates ongoing stability. Summary Ethena price has&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13701"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13701\/revisions"}],"predecessor-version":[{"id":13702,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13701\/revisions\/13702"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1990"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}