As the crypto market is witnessing high volatility in the third week of March, many altcoins follow a fluctuating price trajectory. Among the top decliners stands Ethena’s (ENA) price as the ENA token has witnessed a significant downtrend for over a month. Investors are selling the token in a rush to mitigate potential losses.
Ethena (ENA) Price Drops Amid Whale Sells 8.3 Million Tokens
Amid the ongoing bearish market for Ethena, ENA price has consolidated to unprecedented levels, triggering volatility and token offloading. According to the recent report by Lookonchain, an ENA whale has recently sold a massive 8.3 million ENA tokens, worth $10.47 million at a loss of $2.71 million amid a price decline.
Amid the current market trendline, ENA prices face high bears with a massive decline of 32% on the monthly timeframe and a 7.5% drop on the intraday chart. ENA price is expected to enter a prolonged consolidation phase, poising Ethena to get rejected by institutional and long-term investors, further triggering the selling pressures for the upcoming weeks.
Chainlink’s Demand Soars Amid Key Collaborations For Tokenization
After the April U.S. inflation report, Chainlink price has gained a notable price momentum amid an expected resurgence for the broader crypto market. LINK’s surge is primarily attributed to the recent news on May 16 about the conclusion of the Smart NAV pilot project with JPMorgan, Templeton, and other major US banks to accelerate the tokenization of assets.
LINK price has witnessed a notable price momentum with a surge of 12% in the 24-hour timeframe. The trading volume has exploded by 135%, indicating high traffic on the network as these collaborations are expected to play a pivotal role in shaping the future of tokenization. LINK is trading above the $15 threshold, with explosive potential in the upcoming days.
DTX Exchange Presale Demand Soars After Crossing $540,000
DTX Exchange (DTX) has created a buzz in the trading sector with its all-in-one hybrid tradFi platform, providing retail and institutional investors unprecedented growth prospects. Through automated trading strategies and 1000x leverage, the DTX platform is perfectly positioned to outpace legacy exchanges with its ground-breaking innovations.
As DTX positions itself to transform the DeFi space, traders see a lucrative opportunity to participate in a project that enhances trading across various financial markets like forex, crypto, equities, stocks, and CFDs. Utilizing liquidity pools, traders can access a swift trading environment, enjoying trading efficiency and optimized asset-holding strategies.
After a remarkable presale round 1 performance, the platform has raised over $540k within a few days of round 2. The DTX token is priced at $0.04, leading experts to forecast a potential increase to $0.06 in the next round, marking this an ideal time to be part of the 25x potential of DTX’s secure and KYC-free ecosystem.
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