Ethena (ENA) Price Prediction 2024-2030: Will ENA Price Hit $5 Soon?

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Ethena-ENA-Price-Prediction
  • Although Arthur Hayes’ prediction was higher, ENA could end 2024 at $2.5.
  • The price of the token could rally toward $15 in 2028 despite a bearish forecast for 2027
  • In 2030, the price of ENA could be $37.45 depending on the market condition.

It is one thing to put forward yield for market participants on their dollar or stablecoin holdings. It is another thing to offer an appealing one that is hard to overlook. For Ethena, it chooses the latter.

Ethena properly launched and has been enjoying a great deal of hype. In this article, you will learn about the idea behind the Ethena project. You will also know some more about ENA, the token of the project. Furthermore, this article will touch on the price prediction from 2024 to 2030.

Ethena (ENA) Real Time Market Status

🪙 Name Ethena
💱 Symbol ENA
🏅 Rank #68
💲 Price $0.887517685403
📊 Price Change (1h) -0.75 %
📊 Price Change (24h) -2.78 %
📊 Price Change (7d) -39.55 %
💵 Market Cap $1264712701.7
💸 Circulating Supply 1425000000 ENA
💰 Total Supply 15000000000 ENA

Ethena (ENA) is currently trading at $0.887517685403 and sits at number #68 on CoinMarketCap in terms of market capitalization. There are 1425000000 ENA coins currently in circulation, bringing the total market cap to $1264712701.7.

Over the past 24 hours, Ethena has decreased by 2.78%. Looking at the last week, the coin is down by 39.55%.

What is Ethena (ENA)?

For those unfamiliar, Ethena is a synthetic dollar protocol and internet native yield project built on Ethereum (ETH). With Ethena, users can access a globally-acceptable dollar-denominated instrument which it calls USDe.

Also, the project aims to ensure that its users are independent of the traditional finance structure to make transactions. Instead, the crypto-native solution it offers would take the place of these institutions among its 117,530 active users.

Interestingly, Ethena is backed by some bigwigs. One of them is Arthur Hayes, the co-founder and former CEO of BitMEX. Firms like OKX Ventures, Binance Labs, Dragon Fly, and Bybit Mirana also support the project. 

ENA Current Market Status

ENA’s price as of this writing was $0.84, representing a 23% jump in the last 24 hours. Within the same period, its trading volume hit $2.75 billion. This value meant that ENA had the 8th highest trading volume out of the cryptocurrencies in the market.

As per its market cap, it was ranked 84th, with an undiluted capitalization of $1.20 billion. According to CoinMarketCap, ENA has a maximum supply of 15 billion tokens. However, only 1.42 billion were in circulation. 

Currently, Ethena has a Total Value Locked (TVL) of $1.9 billion and an annual yield that could be as high as 35.4%.  If you intend to buy ENA, the token is available on Bybit, Binance, LBank, and Bitget.

Ethena (ENA) Price Analysis

Though Ethena launched only recently, it is important to look at the potential of its native token. Therefore, this section will focus on its short-term analysis, and how it can perform in 2024. Apart from that, you would discover the long-term price predictions between 2025 and 2030. Coin Edition might also stretch its forecast by looking at the predictions for 2040 and 2050.

Ethena (ENA) Price Analysis – Bollinger Bands

On the 15-minute timeframe, ENA swung up and down. At some point, the token maintained an uptrend. However, there were times when bears forced the price down. ENA’s price action seemed normal for a token that was launched a few days ago.

ENA/USD 15-Minute Chart (Source: TradingView)

Indications from the Bollinger Bands (BB) showed high volatility around the token. However, ENA was not overbought yet as the upper band of the BB evaded touching the token’s price. It was the same with the lower bands. Hence, the price could rise to $0.93 in the short. The worst-case bearish scenario could see ENA drop to $0.71.

Ethena (ENA) Price Analysis – Relative Strength Index (RSI)

On April 3, the RSI fell below the 50.00 midpoint, indicating a rise in selling pressure. The decline could be linked to the manner traders booked profits after engaging in the launchpad of the token.

ENA/USD 15-Minute Chart (Source: TradingView)

At press time, the RSI had risen to 55.54, suggesting that buyers were back accumulating the token. If bulls sustain this buying momentum, ENA’s price might climb higher. However, if bears halt the drive, a pushback below $0.80 could be next.

Ethena (ENA) Price Analysis – Moving Average Convergence Divergence

Despite ENA’s recent gains, the MACD showed that consolidation might be next for the cryptocurrency. At press time, the MACD reading was positive. However, the 12 EMA (blue)  and 26 EMA (orange) were almost at the same point.

ENA/USD 15-Minute Chart (Source: TradingView)

This position implied that buyers and sellers were active in the market. As such, it could be difficulty for ENA to focus on one direction. Therefore, the next movement could be sideways according to the indicator.

Ethena (ENA) Price Prediction 2024

In 2024, investors like Arthur Hayes, expect ENA’s price to go parabolic. For instance, in a post on X (formerly Twitter), Hayes noted that the influx of the Asian market could drive the price higher. In another post, the BitMEX co-founder noted that the price could hit $10.

Regardless of the optimism shown, it is necessary to analyze ENA from a technical point of view. According to the ENA/USD 1-Hour Chart, the Awesome Oscillator (AO) was positive, indicating increasing upward momentum.

ENA/USD 15- Minute Chart (Source: TradingView)

Coin Edition also looked at the Fibonacci extension which showed that ENA could rise as high as $1.57 in the short term. With the state of these indicators, the price prediction for ENA could be higher in 2024. If the rest of the year stays bullish, ENA might hit $2.50.

Ethena (ENA) Price Prediction – Resistance and Support Levels

From our analysis, we observed that bulls camped at the $0.71 support, and this led the token to $0.85. However, before ENA hit that price, it faced resistance at $0.83. But buying pressure was intense enough to clear the path for a further upside.

ENA/USD 15-Minute Chart (Source: TradingView)

Despite the price increase, there was an overhead resistance at $0.90. If bulls can break through this resistance, then ENA might get close to $1. However, rejection at this point could drive the price back toward $0.80.

Ethena (ENA) Price Prediction 2025

Because of the mouth-watering yield that Ethena offers, the token might experience a surge in demand by 2025. Should this be the case, the price of ENA could rise toward $5 before December of the same year.

Ethena (ENA) Price Prediction 2026

ENA’s uptrend is expected to run into 2026. However, the price might not double like its 2025 potential. But it could rise as high as $8.75.

Ethena (ENA) Price Prediction 2027

By 2027, Ethena’s market cap could have decreased and the crypto market could be in a bear phase. In this instance, the value of ENA could drop to $6.28.

Ethena (ENA) Price Prediction 2028

ENA’s price might recover in 2028 and possibly jump to double-digits. From the fundamental and technical analysis, the price of the token might climb to $15.

Ethena (ENA) Price Prediction 2029

2029 might be an extremely bullish year for ENA. This is because the kind of liquidity the market might get could be incredible. As a result, Coin Edition placed the price prediction at $22.50.

Ethena (ENA) Price Prediction 2030

In 2030, the value of ENA could be higher. However, it might not be five times what it could be in 2029. Hence the price prediction for 2030 is $37.45.

Ethena (ENA) Price Prediction 2040

At the minimum, ENA’s price could be worth $26.47 in 2040. However, that does not mean that there are no bullish predictions for the token. If 2040 turns out to be a bullish year for the crypto market, ENA could rise to $43.32.

Minimum Price Average PriceMaximum Price
$26.47$31.28$43.32

Ethena (ENA) Price Prediction 2050

ENA’s price prediction for 2025 could be as high as $50.38. The basis for this prediction could be linked to high crypto adoption and growth in Ethereum’s ecosystem.

Minimum Price Average PriceMaximum Price
$36.35$41.26$50.38

Conclusion

Finally, it is important to mention that Ethena offers a good yield that users might find hard to get anywhere. However, there are concerns if the project can sustain the momentum of paying out the rewards if the market condition is harsh. 

While the CEO has addressed those issues, users might also need to watch out. For ENA’s price, it started on a good note. Subsequently, the analysis of the token suggests that the value could go higher. Although there might be drawbacks, ENA has bullish potential in this cycle.

FAQs

What is ENA?

ENA is the native token of Ethena, which is an internet yield project developed on the Ethereum blockchain.

How do you buy ENA?

ou can buy ENA on exchanges depending on which one you use or are comfortable with. Some of the exchanges to buy ENA include Binance, Bybit, and Bitget.

Is ENA a good investment?

ENA can be a good investment. But it might be too early to conclude. However, the 35.4% Annual Percentage Yield (APY) the project offers might attract a lot of users. If this is the case, demand for ENA might surge, and the price of the token might produce tremendous gains. 

But that depends if Ethena fulfills its promise of the reward initially mentioned. Should this be the case, then ENA could be a good investment. If not, it might not be one to look out for.

What is ENA’s all-time high?

The all-time high of ENA was $0.89. It happened on April 4, 2024.

Will ENA reach $5 soon?

ENA has the potential to reach $5 soon. It may not happen in a few months. But it could be the situation in a year or a little under two years from the time of this writing.

What is the maximum supply of ENA?

ENA’s maximum supply is 15 billion tokens.

Will ENA surpass its current ATH?

The token can surpass its current ATH because ENA is in the price discovery stage.

What is the lowest price of ENA?

ENA’s lowest price was $0.55 on April 2, 2024.

Who is the founder of ENA?

Ethena has several founders. But not all of them are in the public domain. However, Guy Young is the CEO and co-founder of Ethena Labs.

Which year was ENA launched?

ENA was launched in 2024.

How do I store ENA?

Storing ENA depends on how security-conscious you are. You can store ENA on the exchanges you buy from. Apart from that, you can store the tokens on a wallet like MetaMask. You also have the option to store ENA on a hard wallet like Trezor or Ledger.

What will be the price of ENA in 2024?

ENA’s price prediction for 2024 could be $2.5.

What will be the price of ENA in 2025?

By 2025, the price of ENA is expected to hit $5.

What will be the price of ENA in 2026?

ENA’s price could reach $8.75 in 2026

What will be the price of ENA in 2027?

In 2027,  ENA could experience selling pressure that could drive the price down to $6.28.

What will be the price of ENA in 2028?

ENA is expected to bounce back in 2028 and could hit $15.

What will be the price of ENA in 2029?

ENA’s price in 2029 could be $22.50.

What will be the price of ENA in 2030?

The price prediction for 2030 could be $37.45.

What will be the price of ENA in 2040?

By 2040, ENA’s price might have jumped to $43.32.

What will be the price of ENA in 2050?

The maximum price prediction for ENA in 2050 is $50.38.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.