In current days, the general cryptocurrency panorama has confronted large promoting stress in consequence prime belongings see a notable decline of their worth. Amid this downturn, Ethena (ENA) an Ether-based token seems to be in hassle because it plummeted over 30% worth decline within the final 7 days. With this large decline, ENA hits its lowest mark.
Arthur Hayes’s ENA prediction
Following its launch on Binance, BitMEX ex-CEO and co-founder Arthur Hayes predicted that ENA would hit $10, however its present efficiency it seems to flop because it made a brand new low of $0.32 stage.
Nonetheless, following his prediction submit on X (beforehand Twitter) ENA soared and made a excessive of $1.523. Since then it has continued to fall and skilled an 80% worth drop as of now.
Ethena price-performance evaluation
At press time, ENA is buying and selling close to $0.32 and has skilled a 12% worth decline within the final 24 hours. Whereas, if we have a look at the efficiency of ENA over an extended interval, within the final 30 days it has seen the identical 30% worth decline.
In the meantime, ENA’s buying and selling quantity elevated by 13% signaling a better stage of participation from buyers and merchants.
Nonetheless, this participation may come from the ENA sell-off because it made a brand new low. Aside from buying and selling quantity, its open curiosity (OI) additionally plummeted by 11% within the final 4 hours, which signifies curiosity from the crypto neighborhood.
Arthur Hayes’s previous WIF prediction
Ethena was not solely the prediction that Hayes had made, earlier he set a $10 goal for the world’s fourth greatest meme coin dogwifhat (WIF).
Nonetheless, attributable to this ongoing promoting stress, WIF additionally sees an enormous decline. As of now, WIF tops the record when it comes to worth drop because it skilled over 15% worth decline within the final 24 hours.
