- The wallet of Mellow Finance drew 15.147 million ENA with a value of $ 4.48 million from Bybit.
- The financing percentages became positive for various large stock markets, while the aggregated order book Liquidity Delta also returned to a positive area.
By choosing Ethena [ENA] Because the first Altcoin to invest in, Mellow Finance took a big gamble at a time when the market was busy correcting.
With the wider toppings of the Altcoins, the fund issued 15,147 million ENA, worth around $ 4.48 million, from Bybit to the personal wallet.
Buy the dip … or support the future?
This first storage of the Altcoin was a sign of high confidence in the future of Ethena Labs.
The timing strategy due to a correction implied that Mellow Finance observed Ena had valuable basic principles that were undervalued.
Source: disaster/x
The step can also be an indication of institutional confidence in Ethena in the crypto infrastructure of the future. This could support hope in the midst of a generally poor Altcoin performance on the market.
Ena’s derivative markets signals
A dive on derivative markets showed that the history of Ena’s financing percentage presented a rebound in the positive region at the larger fairs.
Financing percentages became positive on large platforms, including Bitmex, Hyperliquid and Bybit, signaling traders pay again to keep long.
That is an important shift after the long -term negative financing percentages of April.
Source: Coinglass
In addition, the aggregated Orderbook -Liquidity Delta again increased to positive figures, around $ 551.46k, a few days later after a drastic decrease on 10 June.
This inflow of approximately $ 0.29 – $ 0.30 suggests renewed buying interest even if it is careful.
Source: Coinglass
The unbridled green Delta beams indicated that a revival was important to pass by, but on a guarded basis. This inflow arrested the price at around $ 0.30 and showed a possible short -term base.
Important liquidation levels to view
The Binance ENA/USDT -Liquidation heat reveals important risk zones.
There is $ 262k of liquidation lever under $ 0.28-one zone that could function as a short-term support if bulls defend it.
In the meantime, stacked short liquidations above $ 0.30 offer a chance for a pinch when the prize breaks through.
Source: Coinglass
In short, the closer Ena is traded to these levels, the more explosive the next step could be.
Whether that is an outbreak or a fall depends on how many convictions of traders bring to the table.