Ah, the wild world of cryptocurrency! Today, the illustrious exchange known as Bithumb—one of the shining stars in South Korea’s crypto galaxy—is rolling out the welcome mat for none other than Ethena. Yes, Ethena’s taking its triumphant leap into the Korean Won market today!
According to a rather official-sounding announcement from Bithumb (think leather-bound books and monocles), trading for Ethena (that’s ENA for the cool kids) will kick off at precisely 6:00 PM KST on this fine Tuesday, February 25, 2025. And just for the *extra* thrill of it, deposits and withdrawals will open a whopping three hours after the announcement—but only on the Ethereum network. Hope you like your crypto with a side of excitement! 😅
Now, brace yourself—Ethena is debuting at a not-so-chummy price of 536 KRW. But hold your horses! Traders will need to wait an excruciating 33 deposit confirmations before they can actually do anything. It’s like waiting for your toast to pop, except the toast is worth actual money!
Bithumb, ever the strict parent, has imposed restrictions for this launch, because what’s a launch without a little dose of anxiety? Buyers, put down your wallets! You won’t be able to place any orders for the first five minutes. That’s right folks—shopping is temporarily off-limits! And seller orders? They’re stuck in a range of -10% to +100% of the base price. Automated trading? Well, that’ll only start after the first transaction—good luck keeping your patience in check!
Last year, this little gem, ENA, secured a listing on another heavyweight South Korean crypto exchange, Bybit, on the illustrious date of April 2, 2024, where it danced with USDT. Listings on big exchanges usually send prices soaring, like a kid after too much sugar. But alas, ENA only managed a modest wink towards recovery, still down a hefty 7.5% in the last 24 hours. Not the wild celebration one would expect!
As if that weren’t enough drama, the crypto market is still feeling the aftermath of a $1.4 billion hack on Bybit and economic jitters that have traders fleeing like cockroaches when the lights come on. How very cinematic! 🎬
Despite all the gloom, there’s still a glimmer of hope! Analysts are bullish on ENA’s long-term potential. Trader Solid, with a following of over 117k on X (the platform formerly known as Twitter), mentions that if ENA makes a higher low between $0.3100 and $0.4136, we might see it break free and reach its all-time high of $1.52. And who wouldn’t want that? It’s like hoping for a sequel to your favorite movie!
Meanwhile, fellow trader AlejandroBTC smells potential too, proclaiming ENA looks like ‘a good buy.’ According to a 1-day chart that probably took longer to create than the stock market crash, this altcoin soared almost 300% to $1.25 last December, after hanging out in the same accumulation range from August to November 2024. Exhibit A below:
$ENA a good buy in this area for accumulation, better to stack and forget it imo.
— Alejandro₿TC (@Alejandro_XBT) February 24, 2025
But let’s not get ahead of ourselves. The future of ENA might very much depend on the broader market pulling itself together. At press time, ENA was trading at $0.3811 with a market cap of a tidy $1.18 billion—who knew virtual money could be such a rollercoaster? 🎢
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2025-02-25 12:40