Eten -to -the Tote stabilized after a sharp fall in the last days after the SPARK announcement of the integration of Stablecoin.
Ethana (ENA) grew to $ 0.83 on January 14, recovering after a minimum this week at $ 0.7255. Despite the rebound, the token remains 35% lower than the highest level this year and has formed a risky picture of the diagram, which involves a potential further retreat.
Spark, the 13th largest player in decentralized financing, assets industry, announced that it integrates Ethena Usde (USDE) and SUSDE StableCoins into a spark liquidity layer. As part of the integration, the spark liquidity layer will allocate stables on the ethenes, and plans to increase the distribution of up to 1.1 billion dollars.
“We are considering USDE with an incredibly powerful primitive for the best applications of Defi and builders today. The integration of Ethena with the liquidity level of SPARK is a serious step towards increasing the availability of USDE and SUSDE, which allows more benefits from cryptommand assets. ”
Ethena has become one of the largest players in the crypto secretary. Its USDE Stablecoin currently has a market capitalization of more than $ 5.79 billion, which makes it fourth larger in this space. Unlike Tether and USDC, USDE offers holders a monthly yield, which is currently 11%. The stable version of Ethena, Susde, has assets of more than $ 4.1 billion.
Spark is also an outstanding player in the industry, allowing users to preserve and lend stables. Its USDS Stablecoin has a market capitalization of $ 6.13 billion, which makes it the third largest in this sector.
Ethana Praisian technical analysis
The daily diagram shows that ENA has been in a strong tendency to decrease over the past few weeks, falling from a maximum of $ 1.3085 at the beginning of this year until the current $ 0.8345.
The token fell below 50-day and 25-day exponential sliding medium, signaling that the bear remains under control.
In particular, Ethena has formed a scheme with two peaks of $ 1.3085, and the neckline is $ 0.8455. Double version is a widely recognized bear indicator.
Given this scheme, ENA will probably continue to decline, since sellers are aimed at the next psychological level at 0.50 dollars – about 40% lower than the current price. Nevertheless, a step above the level of resistance of the key resistance of 1 US dollar will cancel the prospects of the bear.
