Ethena's price rises for two days in a row as annual revenue increases and a Chainlink whale buys its token.

Athens (this) reached an intraday high of $1.07, surpassing the critical $1 resistance level for the first time in more than a week.

According to LookOnChain, the whale transferred 84,370 Chainlink (connection) worth $1.9 million, to ENA tokens. The deal likely signals whale expectations that Ethena will outperform Chainlink in the long term.

It could also reflect a desire to diversify one's investment portfolio. according to DybankWhale still holds $2.2 million worth of Chainlink tokens. His portfolio also includes cryptocurrencies such as Pepe, Auki, Music, Groyper, and Ethereum, with total holdings worth $18 million.

Ethena has established itself as a major player in the cryptocurrency industry, with its stablecoin Ethena USDe (US dollars) has raised more than $5.8 billion in assets. It is the third largest stablecoin after Tether and USD Coin.

USDE is often viewed as a better – but riskier – stablecoin than other currencies due to its returns. According to her WebsiteUSDE has an annual yield of 10%, which is higher than the short- and long-term bonds it offers.

Ethena has also expanded its offerings. Launched in December, USDtb is a stablecoin backed by Blackrock's BUIDL Fund. The stablecoin has raised over $70 million in assets, making it a very successful launch.

Ethena has also become a very profitable network. according to TokenTerminalIt generated over $223 million in fees in just eight months.

Ethena Price has powerful technologies

The daily chart shows strong technical indicators for ENA. The token forms a bullish pennant chart pattern, characterized by a long vertical line and a symmetrical triangle.

The triangle section also represents the handle of the cup and handle (C&H) pattern, which began to form in June of last year. C&H patterns often lead to further gains, and in this case, its depth of around 80% indicates that the coin may rise to $2 during the ongoing cryptocurrency uptrend.