Ethena: Spactive And Derivative Traders Compete On The Next ENA Movement

Derivative merchants on the market are optimistic about ENA, opening up long contracts in anticipation of a rally.
Spot traders, on the other hand, oppose this rally, selling ENA and increasing the offer on the market.

While global market trends came down, Ethena (ENA) take a different path. At the time of writing the time of the editorial staff, the asset had gathered 4.96% in the last 24 hours, its weekly gain of 8.06%.

Although the upward trend barely begins, Ambcrypto noted that derivative traders lead the recent gathering, while the traders of spots remain in opposition. Here is what could happen next.

Derivative traders stimulate market momentum

Derivative traders are the central force behind the recent increase in ENA, and key measurements have continued to increase.

The funding rate, which follows the feeling of the market by measuring the differences in prices between spactive and ultimately by bonus markets, indicates a purchase trend.

Source: Coringlass

At the time of the press, the funding rate was 0.0011%, a positive value. This shows that traders with long contracts pay a bonus, expressing confidence in favorable market movements.

The growth of open interest (OI) strengthens this feeling. ON increased by 4.23% to 423.98 million dollars within 24 hours. This increase indicates that longer positions are open.

The rally seems to be largely influenced by Binance traders. The purchase sales ratio of takers highlights the purchase compared to the sales volume on several exchanges. A ratio greater than 1 indicates more buyers, while a ratio less than 1 points out more sellers.

At the time of writing the time of writing the longtime report of Binance was 1.5549, confirming bullish prejudices among the merchants. An examination of the Binance weekly liquidation thermal card points to a potential rally on the horizon.

Source: Coringlass

At the time of writing the editorial staff, a major liquidity group is $ 0.469, with $ 1 million in sales orders. Liquidity clusters often act like price magnets, which derives prices due to market dynamics.

ENA could come together in this area, erase the sales orders and recover briefly or continue upwards.

While the derivative market makes substantial bets, spot traders adopt a contrasting approach by actively selling.

ENA: The cash market sees an increased sale

Spot merchants, who buy and sell assets without leverage, have started to unload their assets in ENA. In the past 24 hours, Coinglass Exchange Netflow shows that $ 2.05 million in ENA have been sold.

Source: Coringlass

Significant sales may report a slowdown in the market or merchants obtaining profits after recent gains.

If the latter holds, he aligns with the bullish feeling on the derivative market, suggesting potential future rallies. Taking profit is generally temporary, cash traders should resume the purchase activity shortly after.

However, if the sale of pressure on the cash market persists while the merchants of derivatives continue to buy, ENA could remain linked to the beach. This situation should continue until a trend is decisively exceeding the other on the market.

Derivative merchants on the market are optimistic about ENA, opening up long contracts in anticipation of a rally.
Spot traders, on the other hand, oppose this rally, selling ENA and increasing the offer on the market.

While global market trends came down, Ethena (ENA) take a different path. At the time of writing the time of the editorial staff, the asset had gathered 4.96% in the last 24 hours, its weekly gain of 8.06%.

Although the upward trend barely begins, Ambcrypto noted that derivative traders lead the recent gathering, while the traders of spots remain in opposition. Here is what could happen next.

Derivative traders stimulate market momentum

Derivative traders are the central force behind the recent increase in ENA, and key measurements have continued to increase.

The funding rate, which follows the feeling of the market by measuring the differences in prices between spactive and ultimately by bonus markets, indicates a purchase trend.

Source: Coringlass

At the time of the press, the funding rate was 0.0011%, a positive value. This shows that traders with long contracts pay a bonus, expressing confidence in favorable market movements.

The growth of open interest (OI) strengthens this feeling. ON increased by 4.23% to 423.98 million dollars within 24 hours. This increase indicates that longer positions are open.

The rally seems to be largely influenced by Binance traders. The purchase sales ratio of takers highlights the purchase compared to the sales volume on several exchanges. A ratio greater than 1 indicates more buyers, while a ratio less than 1 points out more sellers.

At the time of writing the time of writing the longtime report of Binance was 1.5549, confirming bullish prejudices among the merchants. An examination of the Binance weekly liquidation thermal card points to a potential rally on the horizon.

Source: Coringlass

At the time of writing the editorial staff, a major liquidity group is $ 0.469, with $ 1 million in sales orders. Liquidity clusters often act like price magnets, which derives prices due to market dynamics.

ENA could come together in this area, erase the sales orders and recover briefly or continue upwards.

While the derivative market makes substantial bets, spot traders adopt a contrasting approach by actively selling.

ENA: The cash market sees an increased sale

Spot merchants, who buy and sell assets without leverage, have started to unload their assets in ENA. In the past 24 hours, Coinglass Exchange Netflow shows that $ 2.05 million in ENA have been sold.

Source: Coringlass

Significant sales may report a slowdown in the market or merchants obtaining profits after recent gains.

If the latter holds, he aligns with the bullish feeling on the derivative market, suggesting potential future rallies. Taking profit is generally temporary, cash traders should resume the purchase activity shortly after.

However, if the sale of pressure on the cash market persists while the merchants of derivatives continue to buy, ENA could remain linked to the beach. This situation should continue until a trend is decisively exceeding the other on the market.

Derivative merchants on the market are optimistic about ENA, opening up long contracts in anticipation of a rally.
Spot traders, on the other hand, oppose this rally, selling ENA and increasing the offer on the market.

While global market trends came down, Ethena (ENA) take a different path. At the time of writing the time of the editorial staff, the asset had gathered 4.96% in the last 24 hours, its weekly gain of 8.06%.

Although the upward trend barely begins, Ambcrypto noted that derivative traders lead the recent gathering, while the traders of spots remain in opposition. Here is what could happen next.

Derivative traders stimulate market momentum

Derivative traders are the central force behind the recent increase in ENA, and key measurements have continued to increase.

The funding rate, which follows the feeling of the market by measuring the differences in prices between spactive and ultimately by bonus markets, indicates a purchase trend.

Source: Coringlass

At the time of the press, the funding rate was 0.0011%, a positive value. This shows that traders with long contracts pay a bonus, expressing confidence in favorable market movements.

The growth of open interest (OI) strengthens this feeling. ON increased by 4.23% to 423.98 million dollars within 24 hours. This increase indicates that longer positions are open.

The rally seems to be largely influenced by Binance traders. The purchase sales ratio of takers highlights the purchase compared to the sales volume on several exchanges. A ratio greater than 1 indicates more buyers, while a ratio less than 1 points out more sellers.

At the time of writing the time of writing the longtime report of Binance was 1.5549, confirming bullish prejudices among the merchants. An examination of the Binance weekly liquidation thermal card points to a potential rally on the horizon.

Source: Coringlass

At the time of writing the editorial staff, a major liquidity group is $ 0.469, with $ 1 million in sales orders. Liquidity clusters often act like price magnets, which derives prices due to market dynamics.

ENA could come together in this area, erase the sales orders and recover briefly or continue upwards.

While the derivative market makes substantial bets, spot traders adopt a contrasting approach by actively selling.

ENA: The cash market sees an increased sale

Spot merchants, who buy and sell assets without leverage, have started to unload their assets in ENA. In the past 24 hours, Coinglass Exchange Netflow shows that $ 2.05 million in ENA have been sold.

Source: Coringlass

Significant sales may report a slowdown in the market or merchants obtaining profits after recent gains.

If the latter holds, he aligns with the bullish feeling on the derivative market, suggesting potential future rallies. Taking profit is generally temporary, cash traders should resume the purchase activity shortly after.

However, if the sale of pressure on the cash market persists while the merchants of derivatives continue to buy, ENA could remain linked to the beach. This situation should continue until a trend is decisively exceeding the other on the market.

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