This article discusses the recent price decline of Ethena （ENA） following Arthur Hayes’s prediction and examines the factors contributing to its plummet.
Points
- Ethena （ENA） experiences a significant price drop, hitting $0.32.
- Arthur Hayes’s prediction of $10 ENA flops.
- Analysis of ENA’s recent price performance and trading volume.
Arthur Hayes’s ENA Prediction
Arthur Hayes, a prominent figure in the crypto community, predicted that Ethena （ENA） would reach $10. This prediction initially caused a surge in ENA’s price, pushing it to a high of $1.523. However, since then, the token has experienced a sharp decline, dropping over 80% to its current price of $0.32.
Source: Coinmarketcap
Ethena Price Performance Analysis
At press time, ENA is trading near $0.32, having experienced a 12% price decline in the last 24 hours. Over the past 30 days, ENA has seen a consistent downward trend, with a total price decline of 30%. Despite the price drop, ENA’s trading volume has increased by 13%, indicating higher participation from investors and traders. However, this participation is likely driven by a sell-off, as the token hit a new low.
ENA’s open interest （OI） also plummeted by 11% in the last four hours, reflecting decreasing interest from the crypto community. The ongoing selling pressure has made it difficult for ENA to recover, further exacerbating its price decline.
Arthur Hayes’s Past WIF Prediction
Arthur Hayes’s previous prediction for another token, WIF, also saw a massive decline due to selling pressure. WIF tops the list in terms of price drop, experiencing over a 15% decline in the last 24 hours. This pattern of inaccurate predictions has impacted Hayes’s credibility among investors.
Conclusion
Ethena’s significant price drop, following Arthur Hayes’s prediction, highlights the volatility and unpredictability of the crypto market. Investors should exercise caution and conduct thorough research before making investment decisions based on such predictions. The recent performance of ENA underscores the importance of relying on multiple sources of analysis and market data.
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