CandleFocus

Spark integrates Ethena USDe as ENA forms a risky pattern

The Ethena token has stabilized after a significant fall, following the announcement of stablecoin integration by Spark. Despite a rebound in price, the token remains below its highest level this year and shows a chart pattern indicating a potential further decline. Spark, a major player in decentralized finance, plans to integrate Ethena's USDe and sUSDe stablecoins into its Liquidity Layer, with a planned allocation of $1.1 billion. Ethena's USDe stablecoin has a market cap of over $5.79 billion, making it the fourth-largest in the space. The token's current downward trend suggests a potential decline to the $0.50 level, unless it breaks above the resistance at $1.

Related News