ENA (ENA)

Rose on the news. ‼️🚨 $ENA Reached cloud resistance. Unless it closes above 0.1526 I think the rallies will stay short-term. If it maintains above the cloud, it could move to higher resistance. Let's watch for 1-2 days. https://t.co/CaMe1xXIeR

📍Coinbase invests in Ethena, ENA spikes 📌 Coinbase Ventures bought ENA directly on the open market, rather than investing equity or participating in a private round as funds typically do. 📌 Instead of "investing in the project", Coinbase chose to buy the $ENA token outright. This is far better than the usual agreements, showing Coinbase's confidence in the token's upside; the project may paint many numbers, but if the token price still declines, it makes no sense. 📌 At the same time, Coinbase and Ethena announced a partnership to expand on-chain financial products and savings products for Coinbase's user base of over 100 million. 📌 Ethena has USDe, a synthetic dollar model with yield; if Coinbase integrates ENA's model directly onto its CEX, Ethena will reach US users more strongly.

$ENA is up 12% today, but this move may be about much more than price action. 🔥 The headline is that Ethena is partnering with Coinbase to bring onchain finance and savings products to Coinbase's 100M+ users. But the detail that caught the market's attention? Coinbase Ventures reportedly made its first open-market investment into Ethena. That's different from a seed round. Different from an early allocation. It's one of the biggest names in crypto buying exposure from the market itself. The signal here isn't just "partnership." It's validation. The market isn't just buying the news. It's trying to price in what Coinbase's endorsement might mean long term.

Ethena and @coinbase have partnered to grow onchain finance and savings products for their 100m+ userbase, with the first growth initiative launching next week. Alongside this partnership Coinbase Ventures have also made their first investment into Ethena on the open market. https://t.co/6tBW404lYv