Ethena’s ecosystem has come out with something new again—non-bank self-custody currency apps have been launched directly. In the circle, this kind of news counts as an ecosystem positive, and money comes in quickly. After a general announcement goes out, the native token usually sees a clear short-term spike, and other related tokens in the ecosystem tend to move along too.
Take a look at the current prices: ENA is at $0.1615, up 7.3% in 24 hours, which shows this playbook really works. AVAX at $7.25 is only up 0.8%—capital hasn’t been spread out; it’s all been concentrated on ENA. If you’re chasing higher prices based on the ecosystem expansion thesis, the current price is already out of the launch range. If you want to get in and wait for a pullback, $0.15 is a round-number support level, and the expected retracement would be roughly 5%.
Now look at the neighboring projects: NOT is at $0.000464, up 3.1%. The capital is indeed rotating within the ecosystem narrative, but it’s not as aggressive as the leading token. In this kind of diffusion-style market, once the leader stops being able to move up, you can then look at tokens that haven’t moved much yet.#ENA #AVAX
Take a look at the current prices: ENA is at $0.1615, up 7.3% in 24 hours, which shows this playbook really works. AVAX at $7.25 is only up 0.8%—capital hasn’t been spread out; it’s all been concentrated on ENA. If you’re chasing higher prices based on the ecosystem expansion thesis, the current price is already out of the launch range. If you want to get in and wait for a pullback, $0.15 is a round-number support level, and the expected retracement would be roughly 5%.
Now look at the neighboring projects: NOT is at $0.000464, up 3.1%. The capital is indeed rotating within the ecosystem narrative, but it’s not as aggressive as the leading token. In this kind of diffusion-style market, once the leader stops being able to move up, you can then look at tokens that haven’t moved much yet.#ENA #AVAX