{"id":311033,"date":"2024-05-28T00:27:58","date_gmt":"2024-05-27T18:57:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=311033"},"modified":"2024-05-28T00:27:58","modified_gmt":"2024-05-27T18:57:58","slug":"athena-protocol-gains-momentum-with-tvl-increase-to-2-75-billion-ready-for-1-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/athena-protocol-gains-momentum-with-tvl-increase-to-2-75-billion-ready-for-1-crypto-news\/","title":{"rendered":"Athena Protocol Gains Momentum with TVL Increase to $2.75 Billion, Ready for $1? – Crypto News"},"content":{"rendered":"

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On Monday, the cryptocurrency market witnessed a notable uptick as the leading digital asset Bitcoin<\/a> surged above the $70000 psychological level. The number two crypto Ethereum also showed similar momentum as a 3% jump almost pushed it above the $4000 mark. Therefore, several altcoins including Athena<\/a> experience a renewed market recovery aiming to prolong the recovery trend.<\/span><\/p>\n

Also Read: Robert Kiyosaki Slams \u201cBonds Are Safe\u201d Claims, Advocates Buying Bitcoin<\/a><\/p>\n

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Athena Protocol\u2019s TVL Soars 20%, Signaling Renewed User Confidence<\/b><\/h2>\n
\"BINANCE:ENAUSDT
Athena| Tradingview<\/figcaption><\/figure>\n

Amid the broader market recovery, the Athena coin entered a new recovery phase around mid-May as its price rebounded from $0.653. The positive turnaround uplifted the altcoin to 43.5% to currently trade at $0.937, while its market cap boasted $1.42 Billion.<\/span><\/p>\n

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An analysis of the daily chart shows this recovery breached the resistance trendline of a falling wedge pattern, escaping a six-week correction.\u00a0<\/span><\/p>\n<\/blockquote>\n

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According to a recent tweet from the crypto analytics firm IntoTheBlock, the Total Value Locked (TVL) in the Ethena protocol has seen a significant increase, going parabolic once again. After experiencing a slow month, Ethena\u2019s TVL has surged to $2.75 billion, marking an impressive rise of nearly 20% over the past two weeks.<\/span><\/p>\n

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After a slow month, Ethena TVL is going parabolic again.<\/p>\n

TVL is currently at $2.75B, an increase of nearly 20% in the last two weeks pic.twitter.com\/yivqkuenYB<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) May 27, 2024<\/a><\/p>\n<\/blockquote>\n

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This growth in TVL indicates a renewed interest and confidence in the Ethena protocol, suggesting that more users are locking their assets within the platform. The spike in TVL is a positive indicator of the platform\u2019s health and popularity, reflecting increased user engagement and potential for further growth.<\/span><\/p>\n

If the aforementioned bullish pattern holds true, the current recovery in ENA price<\/a> could rise to $1.18, followed by $1.52.<\/span><\/p>\n

Technical Indicator\u00a0<\/b><\/h2>\n