ENA token trades at $0.130, down 93% from ATH but 67% below VC entry at $0.40.
Testing major support as USDe becomes 3rd largest stablecoin at $5.8B.
Analyst eyes $0.50-$3 targets if accumulation zone holds.
#ENA #Ethena #USDe #Altcoins #CryptoTrading
👉Full Story👇

Twitter

Renowned crypto investor Jack Yi used Aave revolving lending to build a $2 billion ETH position, only to see it crumble during the market crash [...]
The article, "Yi Lihua Completely Sells Off ETH! Trend Research Sells 650,000 Ethereum in a Week, Losing $730 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Yi Lihua completely liquidated his ETH holdings! Trend Research reportedly sold 650,000 Ethereum in a week, incurring a loss of $730 million before exiting the market.

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
...

The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

At a conference dedicated to the riskiest traders in finance, Miami's crypto scene appeared far different than during its pandemic-era boom.