Thoughts on $ENA (Ethena)ENA is looking pretty solid right now. Ethena is one of those coins that just shrugs off market corrections. We've seen a 320% jump, which is pretty wild.
As long as it stays above $1, I think the chart is in good shape. It might need some time to chill before aiming for that all-time high (ATH), and it looks like now might be that time.
87.5% of the coins are in the hands of whales, and they're not letting go.
Next big unlock isn't until April 2nd, 2025, with 13.75% of the supply hitting the market.
With whales holding the reins, they're waiting for the perfect moment to cash in, which means they'll need some serious hype and a bunch of FOMO buyers.
It makes sense that this could happen if it breaks that ATH of 1.52. Doesn't mean it'll be a straight shot up there; we might see some dips, but I think the odds are good it'll make it eventually.