Crypto:
30349
Bitcoin:
$64.243
% 0.41
BTC Dominance:
%54.0
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
Bitcoin:
$ 64.243
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Altcoin Price Continues Four-Fold Surge Fueled by Whale Support

Best Altcoins For Next Bull Run

ENA, the native token of blockchain development company Ethena Labs, has continued its upward trajectory, fueled by large-scale transactions from cryptocurrency whales.

According to data from blockchain analytics platform Spot On Chain, two whales withdrew a total of approximately 8.6 million ENA from Binance this morning at an average price of $1.377 per token.

The whales then proceeded to stake these tokens, locking them up in a smart contract to earn rewards. In the past 24 hours, whales have withdrawn a total of over 17 million ENA from Binance for staking purposes.

Ethena Labs recently announced a 50% increase in rewards for certain users who stake their tokens as part of the launch of “Season 2.” According to TradingView data, ENA has gained over 330% in value over the past week.

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