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Exchange Integrations. Many crypto tokens are finding themselves in the red, but Ethena’s ENA has managed to defy the trend, up nearly 10% to start the week! What is causing ENA’s outperformance, and is the catalyst sustainable?
The ENA/BTC pair established its local bottom this Sunday, the same day Ethena’s Head of Growth tweeted this upcoming week would be big.
Traders front-running the announcement sent ENA rallying against both BTC and the dollar throughout Monday before the token ripped higher early Tuesday morning to hit $1 for the first time in May on the news that its USDe synthetic dollar will be integrated with Bybit, the fourth-largest exchange by futures trading volumes in the month of April.
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