The price of Athena is showing notable flexibility between the wider crypto market bloodbeath, with most Altcoins posting in the 8 – 20% range in the last 24 hours.
Currently trading at $ 0.40, the price of Athana (ENA) has fallen by only 3% on a daily time frame, with a trading volume 108%. The major factor behind the price flexibility of Ethena may be an attempt to raise the recent successful funds of the project, which won $ 100 million for the launch of Iusde, Ethena’s new institutional-centric dollar-paved tokens. This money raising round was completed in December, but it was not revealed earlier, according to it BloombergThis attracted several major investors, including Franklin Templeton, F-Primm Capital, Dragonfly Capital Partners, Polychen Capital LP and Pantera Capital Management LP.
The new token, Iusde, is essentially a regulated version of the current synthetic dollar of Athana, especially designed for traditional financial institutions that are investing in digital assets directly to come in contact with Crypto, January. blog post Gai Young, by the founder of Ethena Labs.
Additionally, the company plans to allocate some income from tokens to fund its own blockchain development, a source close to this case told Bloomberg.
Another potential factor contributing to the value of ENA is a strong demand for the existing stabechoin athena of Ethena. With its market cap near $ 6 billion, USde Crypto has become one of the leading synthetic dollars in ecosystem, thanks to his ability to generate adequate yield through Aadhaar business strategies, even market Even amidst instability. While usde yields once Spinish At 60%, they have stabilized approximately 9%, which still provides a compelling yield compared to traditional financial instruments.
From a technical point of view, the trader is Alejandarobatak Express Emphahism about the price of Eena. He said that the property is currently within a familiar accumulation range, which rose 300% in December 2024 to $ 1.25 in December 2024 after consolidating the first August and November. If history repeats itself, Ana can see another mass rally.
However, it is important to note that the long -term stability of Athana is uncertain. This is because the Athena base produces yield using a business strategy, which takes advantage of the price difference between the spots and futures markets. Therefore, its performance depends heavyly on market conditions. When funding rates are high, the strategy can produce sky-high yield, demanding driving for assets of Athana, including NA. However, in a recession market with low funding rates, this strategy can be tested.
