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The Ethena price has dipped 5% in the past 24 hours to trade for $0.8061 as of 03:00 a.m. EST on trading volume that dropped 8%. The ENA price has also slumped 10% in the past seven days, according to CoinGecko. This is as the broader cryptocurrency market remains in a state of uncertainty, with the Bitcoin price still stuck in the $61,000 range. Nevertheless, while the Ethena price continues to struggle, the ENA token is trending among Hawk Apps hot coins today. 🔥 Hot Trending 💎 Ethena $ENA 💰 Price: $0.815 ⚡️ 24h change: -2.68% 📈 24h high: $0.852 📉 24h low: $0.815#Ethena pic.twitter.com/AvonxPf9xB — Hawk App (@hawkApp_) May 13, 2024 The token is trending amid FUD (fear, uncertainty, and doubt) following negative publicity. Reportedly, project developers are “evil and greedy,” X user @HTXLedger notes, adding that the project is “dead already.” Mega hypped #ethena $ENA @ethena_labs seems to be d...

An entity withdrew $46.02 million worth of Ethereum (ETH) from Binance and Bitfinex at $2,419 per ETH. Five wallets from the entity withdrew 50.15 million USDT strategically alongside acquiring $46.02 million worth of ETH. The Aave community voted in favor of a proposal by the Neon Foundation and Aave Chain Initiative (ACI) with an 83% majority. In a recent tweet by on-chain analyst SpotOnChain, an entity made substantial Ethereum (ETH) withdrawals and subsequent s taking activity. Meanwhile, Aave, a prominent decentralized finance (DeFi) platform, is on the verge of a major upgrade. Over the past 2 days, an entity with 8 wallets withdrew $46.02M in $ETH from #Binance and #Bitfinex at ~$2,419, then staked with #Lido: – 5 wallets withdrew 50.15M $USDT from #Aave to CEX for 19,021 $ETH ($46.02M). – 3 wallets still hold ~30M $USDT in #Aave and may deposit it… pic.twitter.com/vqPYTTaWjT — Spot On Chain (@spotonchain) January 23, 2024 Over ...

Arthur Hayes, former CEO of Bitmex and CIO of Maelstrom, predicted that major banks like JPMorgan will overshadow Tether and other stablecoin companies once they are permitted to issue fiat-backed stablecoins. During an episode of Laura Shin’s Unchained podcast, Hayes outlined Tether’s successful business strategy, which involves taking dollars, investing them in treasury bills, and earning profits from the interest rate spread. This model has allowed Tether to achieve significant status in the crypto market, primarily due to the absence of a similar offering from the U.S. banking system. He highlighted that T ether owners generate substantial free cash flow annually, estimating it to be around $4 or $5 billion. However, Hayes emphasized that the current operational model of centralized stablecoins, which relies heavily on banking services for fund custody and clearing, is not sustainable. You might also like: Arthur Hayes dumps Solana for Ether, cites divine...

Ashpool, an X account, alerts that FTX estate is staking 5.5 million SOL. Ashpool’s alert has generated a conversation among many crypto users. FTX Estate holds about 16% of Solana’s market cap. According to Ashpool, an X account renowned for crypto research, FTX estate is s taking 5.5 million SOL. In its post, Ashpool referenced another post from Whale Alert showing an SOL transaction between two unknown wallets to the tune of 5,546,217 SOL, equivalent to $121,255,031.  FTX estate is s taking 5.5M SOLhttps://t.co/ajRgBHFNt9 https://t.co/UGorSGMtwC — ashpool (@solanobahn) October 14, 2023 Ashpool’s alert generated a conversation among many crypto users, many of whom are trying to understand the narrative behind the recent action by the FTX estate. One of the respondents under Ashpool’s post identified as ‘rpc mert’ recalled a statement by one of SBF’s close associates, Caroline Ellison, who said that FTX had SOL tokens locked on the project’s net...