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The Ethena price rose 4% in the last 24 hours and 65% in a week to trade at $1.35 as of 00:18 a.m. EST on trading volume that dropped 27% to $1 billion.
This comes as the team announced an increase in staking rewards in its Season 2 update. With the update, users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will have a 50% increase in their wallets.
Today we introduce $ENA into Season 2 in order to more closely align the growth in USDe with $ENA
Users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will receive
i) 50% increase in their rewards
ii) the highest number of rewards per day of any pool pic.twitter.com/zxVmpGZSN6— Ethena Labs (@ethena_labs) April 8, 2024
Ethena also introduced a Bitcoin purchasing and shorting strategy for yield generation, building on the same approach previously applied to Ether.
Ethena Price Set To Sustain Its Surge Within The Rising Channel
After its launch, the Ethena price rallied within a week to record an all-time high of $1.40 on April 9. Even with the price being just a fraction of a percentage down, ENA is still trading upward within the confines of a rising channel pattern.
The uptrend signals a breakout rally, with the altcoin acquiring momentum that may push the price to new highs. ENA is also trading above the 50-day Simple Moving Average (SMA), indicating an upward potential for the price.
Furthermore, the Relative Strength Index (RSI) is rebounding from oversold levels towards the overbought region, currently at 61. This suggests intense buying pressure and sustained investor optimism.
Ethena Price Prediction
The Ethena price analysis indicates ENA remains in bullish momentum within the rising channel pattern. The bulls aim to leverage RSI momentum for increased buying, targeting a new ATH of $1.8.
However, if bears dominate at this level, ENA might dip below the rising channel’s lower boundary to $1.25, aligning with the 50-day SMA.
Meanwhile, as the Ethena price surges, investors are also rushing to diversify their portfolios with 5thScape, the world’s first ever AR and VR crypto project.
5SCAPE Stage 4 Draws Investors As It Races Towards $5 Million
5thScape (5SCAPE) is emerging as a pioneer in virtual reality (VR) and augmented reality technologies, positioned as the world’s first-ever AR and VR ecosystem in crypto to connect the most brilliant minds.
5thScape, the cutting-edge crypto project poised to revolutionize augmented and virtual reality, offers investors an opportunity to dive into the future of immersive gaming.
With plans for innovative VR hardware and a diverse range of games, including Cage Conquest and Epic… pic.twitter.com/FaIicOGq3w
— 5th Scape (@5th_scape) March 23, 2024
The project brings in transformative features like VR games, movies, education, and devices, leveraging software and hardware advancements to deliver unparalleled experiences to users.
The development team is set to launch different games, including the MMA Cage Contest, Thrust Hunter, and Archery Master.
We are excited to reveal the first look of the characters of our upcoming VR game, Cage Conquest! Meet the fighters who will challenge you in the ultimate UFC experience. Which one is your favorite? #CageConquest #5scape #Crypto #Bybit $NVDA #Ethereum $SYS pic.twitter.com/PUUdsbWWIi
— 5th Scape (@5th_scape) February 21, 2024
With such an innovative vision and the general potential to reshape the VR and AR ecosystem, the project has continued to draw significant interest. The presale is currently in its fourth stage, having gathered over $4.7 million as it swiftly approaches its $5 million target.
According to 99Bitcoins, a crypto YouTube channel with over 700K subscribers, 5SCAPE has the potential to surge by 100X after its launch.
The development team is gearing up to launch $5SCAPE at $0.01, which means that buying now at $0.00285 per token locks in gains of about 250% before listing.
GET YOUR TOKENS NOW!!!#vr #5thscape #cryptocurrency #Presale pic.twitter.com/4t4cIrP0St
— 5th Scape (@5th_scape) March 28, 2024
You can join the presale by swapping ETH, MATIC, USDT, or BNB for 5SCAPE tokens on the official website here. You can also buy directly with a bank card.
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