ENA (ENA)

Ethena just updated the Season 4 airdrop, adding a HyENA-related component, indicating a hard push into the Perps market. For users eligible for rewards exceeding 200 million, they need to deposit on HyENA and hold HLPe or USDe for at least two weeks, consecutively. The deposit amount requirement is 1 USDe for every 2 million of reward; based on the minimum 200 million reward, that equals 100 USDe. In addition to the deposit, users must execute a trade of any size on HyENA. Rewards are distributed as uENA (the ENA version on Hyper). The first batch starts in late December, with a two‑month window lasting until February. Within these two months, users can choose any continuous two‑week period to deposit.

$ENA update ENA is holding above a key demand zone, which keeps the short-term bias to the upside. A clean breakout and retest of the horizontal resistance would strengthen the bullish case and open room for further upside. #Crypto #ENA https://t.co/XriM176TGu

I have no concern about advertising coins like you 😗🚀 The analyses are making money, thank God https://t.co/kcNmtXLtVj

Recently I talked with many friends about ENA, here are my thoughts: 1. From a token distribution perspective, buying tokens during the unlock period is very pressure‑filled, similar to OP and Arbitrum in 2024. 2. From a business standpoint, a $10 billion TVL is already the ceiling in the current market, and as market liquidity worsens, the required reserve ratio becomes higher, visible returns drop, creating a vicious cycle. 3. For many years, we have been expanding on‑chain DeFi pathways because results are visible quickly, but we lack breakthroughs in off‑chain adoption, turning ENA into an alternative investment product rather than a stablecoin. As on‑chain liquidity contracts, new business development stalls, and the upcoming narrative will weaken.

Seeing a lot of confusion between @BasedOneX and @hyenatrade lately. If you’re wondering what’s what, and why everyone is shilling these protocols, here’s a breakdown plus my honest take 👇 🔹HyENA is a product built by Based. 🔹So the main protocol = Based. 🔹HyENA is part of its ecosystem. >What do they have in common? - Both help you farm the Hyperliquid airdrop - Both earn you GOLD for Based’s future airdrop - Trading HIP3 pairs → possible Unit airdrop - Same trading fees >Here’s where they differ: - GOLD rewards: Based gives more GOLD per volume - Stablecoin: HyENA uses Ethena’s stablecoin + yield (Based doesn’t) - Points: HyENA gives HyENA Points → ENA rewards (NOT an airdrop) - Tokens: Based will have its own token; HyENA won’t >My experience so far: - High Fees - Based: solid, smooth trading - HyENA: order book feels green; liquidity improving but still needs polish > Referrals Now, the real reason you see these protocols everywhere: referrals. - Based: multi-level, ponzinomic vibes → 60% / 12% / 4% - HyENA: single level, 90% commission (insane!) This is why you’ll hear endless shilling. Referral farming is BIG money. >My plan? HyENA isn’t my priority yet. I’ll stick with Based for now. If HyENA’s order book improves, I might allocate some volume there. But for now → absolute priority = Based. Which one are you farming?

$ENA ⚠️📉 As we talked about last time, ENA is still stuck in that bear flag, and the chart just broke below the RSI trendline along with the flag breakdown. The current candle looks indecisive, and price has SFP’d the $0.25 area, showing both bearish and bullish signals at the same time. There are clear bearish confluences, bear flag breakdown, RSI trendline break, and bearish volume, but there are also signs it could bounce, like the double SFP zones and the current candle’s hammer-ish formation. The path can only go one way at a time, so nothing matters until we see a clear directional close first. #BTC #ETH #Crypto #Trading #ENA #Altcoins

➥ Why Ethena fits perfectly into 2026 - 2030 ? Because every macro catalyst tilts in its favor: - Stablecoin market expansion - Yield bearing dominance - Institutional capital flood - Revival of funding-rate APY - Global USDization - Tokenized RWAs scaling - Multi-chain liquidity needs Most protocols align with one of these. @ethena_labs aligns with all of them. 2026-2030 won’t reward the biggest marketing budget. It’ll reward the model that scales with global demand.