According to foreign sources, the announcement of Ethena ' s cooperation with Beled led to an increase of about 5 per cent in the ENA disk, but the news did not lead to a sharp increase in prices. The article mentions that Ethena plans to connect USDe to the Aladdin platform in Beled and to use BUIDL as its main asset for the white-marked product, while establishing a liquidity facility around the monetized product.
Institutional platform access to land
Aladdin, the investment management platform for institutional clients in Beled, manages the assets of the financial institutions that serve more than $20 trillion. According to the article, such progress related to institutional distribution channels, monetization of assets and the use of stable currencies is usually not fully reflected in market prices immediately after the news is published and the pricing process tends to be slower.
The ENA increase is still limited.
On the whole, the ENA has only seen moderate increases since the news was released, and is clearly restrained in comparison to the strong market reaction to the “Beled concept”. According to the article, some traders are more concerned about short-term price outbreaks, and if the news fails to push for a greater increase within hours, funds tend to shift quickly to other targets.
Medium address increased, big house reduced.
According to the article, ENA has been rehabilitated since early June. The token had previously fallen to a historical low of about $0.070 and then rebounded to about $0.081. Recent prices have tested the 20-day index moving average and are approaching resistance near the 50-day average.
The change in the holding of the chain indicates that the actions of different addresses of different sizes are not consistent. There has been a significant increase in the number of addresses holding between 1 million and 10 million ENAs in the recent past, but large addresses holding between 10 million and 1 billion coins continue to reduce the number of open addresses.
According to the article, this puts the ENA in a relatively awkward position: on the one hand, basic information has improved and some medium-sized holders are stowing; on the other hand, the market is still waiting for new catalysts to push prices further.