Altcoin News Official TheBitTimes.com

The Ethena price plunged over 10% in the last 24 hours to trade at $0.7929 as of 3:55 a.m. EST as investors offload their holdings in the crypto on the market. This drop in the ENA price comes as BitMEX founder Arthur Hayes started decreasing his exposure to the crypto in recent weeks. After depositing 7.85 million tokens to Binance on Dec. 21, 2024, on–chain analytics platform Lookonchain flagged another massive deposit made in the last 24 hours. According to the firm, Hayes sent 7.85 million ENA, valued at $6.46 million, to Binance and Bybit. Arthur Hayes(@CryptoHayes) deposited 7.85M $ENA($6.46M) to #Binance and #Bybit again 15 mins ago.https://t.co/lwQqYTPbua pic.twitter.com/ah9FZaj6wg — Lookonchain (@lookonchain) January 13, 2025 Ethena Price Resting On A Critical Support  4-hour chart for ENA/USD (Source: GeckoTerminal) The Ethena price has been in a consolidation range between $0.7932 and $0.9384 over the past few days. In recent hours, the altcoin...

BitMEX founder and crypto veteran Arthur Hayes is laying out bullish outlooks for Bitcoin (BTC), Dogecoin (DOGE) and the broader digital asset market cycle. In a new discussion on the Alpha Only podcast, Hayes says traditional finance (TradFi) firms could be what triggers froth and a subsequent collapse in crypto valuations. Hayes says TradFi will see crypto going up, and end up allocating through the big companies and projects. But as the market cycle continues and many projects become overvalued, Hayes says the investors will most likely begin to chase less legitimate projects, creating massive gaps between price and reality. “ And so in the beginning, the credit is well allocated, there are good uses for it. But as we get longer in the tooth for the rally, then you start allocating credit to dogsh*t because you have to allocate to get paid and that’s when you find, whatever the hottest pocket is where you see way too much money going into it, they...