The total value of Athena has been discontinued, the impressive 50% has increased in the previous month, in which ENA is posting a significant price profit.
Summary
- Athena’s TVL rose 50% in July, reaching $ 8.44B, with a strong USD income.
- The ENA value increased by 134% in a month, increased by the entire activity and the major devil.
- Technical indicators show a rapid uptrend, with support at $ 0.60 and resistance at $ 0.70 – $ 0.75.
For Defilema data, Ethena’s (ENA) TVL was $ 8.44 billion in late July. Compared to $ 5.46 billion at the beginning of the month, it represents a significant growth, suggests that the platform is increasing and receiving traction.
The platform fees have increased with an increase in TVL, which has increased from $ 19.96 million in June to $ 36.05 million in July. USD Inflow has seen an even more important bounce, jumping from $ 47 million in June to $ 2.96 billion in July, reflecting a solid flow of capital in the platform.
Whale activity and rising ENA Matrix
According to the July 31 post on X by analyst Ali Martinez, the whale is clearly activated. In the last one week, 79.25 million ENA tokens have accumulated. According to this spike, in which activity, the amount of ENA increased significantly, from $ 6 billion in June to $ 27 billion in July.
This which shows a strong belief in the possibilities of an inquiry Ethena. The price of ENA is 6% in the last day, 31% in the previous week and an incredible 134% in the last month,
Ethena’s July update development develops
The increasing speed of Athena can be attributed to many major developments. On 11 July, ENA was listed in the largest Cryptocurrency Exchange Upbit in South Korea, which greatly enhances its expulsion and livelihood.
Then, on July 21, StableCoinx raised $ 360 million to buy ENA tokens, dedicated to a buyback process of $ 260 million. The price of tokens is expected to move forward as a result of the demand by this buyback process.
Additionally, on July 24, Ethana and Encourage Digital participated to create USDTB, one of the first stabecon to complete with USDTB, their synthetic dollar, US Genius Act. It is an important regulator milstone that can increase the adoption of the market.
Ethana technical analysis
From a technical point of view, Eena is running upwards, after testing resistance levels, the current trades near $ 0.62. The price is moving towards the upper band, which indicates that there is still rapid speed.
With the power index relative to 68.92, the market is in neutral, but overbott is on the verge of situations. Raly can have a possible recession if the RSI reaches 70 or more.
The price of ENA is also above its export exports during multi -time -boundary. The 10-day EMA is at $ 0.573, which is a 50-day EMA $ 0.414, indicating that the price is overall. It rapidly supports outlook.
A breakout Abdo $ 0.70 to Wold suggests that he suggests constant power and can run the price up to $ 0.80 or more. A drop below $ 0.60, however, may indicate an improvement, especially if it eats by a falling RSI. The first important support level below is $ 0.60, which is the 50-day EMA, currently at $ 0.50.