Why is Ethena down 12%? $8M liquidations, whale sales & more…
Photo: AMBCrypto
Ethena [ENA] fell sharply as bearish pressure persisted following the September Consumer Price Index (CPI) release. The altcoin breached $0.20 support and plunged to $0.182. In doing so, Ethena erased its October and late September gains. At press time, it traded around $0.184, down 12.3% over the past day. Trading Volume rose 49% over the same period, showing increased activity during the sell-off. Why did Ethena’s long liquidations surge? As Ethena [ENA] lost $0.20, leveraged bulls took a heavy hit. CoinGlass data showed that ENA’s price volatility exceeded 15% over 24 hours.
Source: AMBCrypto
