Day 3 of the “Shanzhai Season,” and ENA is up 21.6% today, making it one of the biggest movers among the top ten on the trending list.
The logic behind it isn’t complicated: the market’s trading volume share has reached the highest in two years at 65%. Leading capital is starting to spread outward from BTC, and coins like ENA—backed by real narratives—are perfectly positioned to catch this rotation. On-chain demand for USDe, the synthetic dollar, has been steadily rising, and protocol revenues have also outperformed traditional stablecoins.
The funding rate is currently negative (-0.0000014%), meaning there’s still a group in the market shorting. If those shorts get squeezed, prices could be pushed higher. At the same time, keep in mind that the day’s high of 0.1726 and the current price of 0.1702 are already close, and a pullback toward the 0.1400 support level is still possible.
BTC ETFs have seen net inflows for eight consecutive days, totaling over $7 billion. The broader environment is still supportive. The PCE data came in slightly above expectations, but its impact appears limited—there are still signs that “Shanzhai Season” hasn’t ended yet.
If you’re interested, click the small card below to quickly check the market行情
The logic behind it isn’t complicated: the market’s trading volume share has reached the highest in two years at 65%. Leading capital is starting to spread outward from BTC, and coins like ENA—backed by real narratives—are perfectly positioned to catch this rotation. On-chain demand for USDe, the synthetic dollar, has been steadily rising, and protocol revenues have also outperformed traditional stablecoins.
The funding rate is currently negative (-0.0000014%), meaning there’s still a group in the market shorting. If those shorts get squeezed, prices could be pushed higher. At the same time, keep in mind that the day’s high of 0.1726 and the current price of 0.1702 are already close, and a pullback toward the 0.1400 support level is still possible.
BTC ETFs have seen net inflows for eight consecutive days, totaling over $7 billion. The broader environment is still supportive. The PCE data came in slightly above expectations, but its impact appears limited—there are still signs that “Shanzhai Season” hasn’t ended yet.
If you’re interested, click the small card below to quickly check the market行情
