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Ethena (ENA) has emerged as a prominent player in the crypto space with its recent launch on Binance Launchpool and the announcement of a massive token distribution through an airdrop.

At the same time, Kangamoon, another promising project, has successfully raised $4 million in its presale, showcasing the growing interest in the crypto market.

Ethena Labs, the creator of the yield-earning USDe token, has made waves in the crypto community with the launch of its new governance token, ENA. The company plans to distribute 750 million ENA tokens through an airdrop, attracting both individual and institutional investors.

The protocol, known for its innovative approach to synthetic dollar issuance, aims to provide a crypto-native solution for money that is not reliant on traditional banking system infrastructure.

With the introduction of the ENA token, Ethena Labs is poised to further solidify its position in the market and drive adoption of its groundbreaking technology.

With the recent announcement of the ENA token distribution, investors are eager to know whether the token’s price will reach the coveted $1 mark.

The coin has already experienced significant growth, particularly after its listing on major exchanges. At press time, the coin was trading at $0.9071, up 38% in a day.

It has gained 170% since its initial launch on Bybit Launchpool and launch on Binance Launchpool.

Today’s price surge can be attributed to two announcements by Ethena Labs. The first announcement is the announcement of the claim page for $ENA going live.

The claim page for $ENA is now live:https://t.co/inUyUBQrzL

Please ensure you are using only this link and avoiding links posted anywhere else

This is the only claim link associated with @ethena_labs

The other announcement is the announcement about exchange listings that will be live at 8 am UTC.

With immediate effect all USDe and sUSDe holders will begin accruing rewards for the Sats Campaign which will be reflected in the UI today https://t.co/VKVX287czx

According to deep technical analysis and current market performance, there is optimism surrounding ENA’s future prospects.

Analysts predict that the average price of ENA could reach $1.84 by the end of 2024, with the potential for further upside if current growth trends continue.

However, in the event of market downturns, the price could dip to around $1.46.

Nevertheless, ENA’s strong fundamentals and growing community support bode well for its long-term success.

In parallel with the developments in the Ethena ecosystem, Kangamoon has been making waves of its own.

Kangamoon offers users the opportunity to embark on a thrilling adventure, where every challenge presents a chance to earn real-world value and rewards.

The platform integrates GameFi and Play-to-Earn elements, allowing users to assemble champions, engage in epic battles, and earn $KANG tokens and exclusive rewards.

Additionally, Kangamoon introduces the concept of the Kangaverse, a virtual realm where users can explore, compete, and build alliances with fellow gamers.

Kangamoon’s presale has garnered significant attention, with investors flocking to participate in the project’s promising future.

The presale has already raised an impressive $4 million, showcasing the strong demand for Kangamoon’s vision and offerings.

At the current stage of the presale, $KANG tokens are priced at $0.0196, with a 10% bonus available on all purchases.

With 98% of the tokens still available for purchase, there is ample opportunity for investors to get involved in Kangamoon’s journey and reap the rewards of its success.

Ethena’s ENA token distribution and Kangamoon’s presale success underscore the growing momentum in the crypto space.

As these projects continue to innovate and expand their offerings, investors can look forward to exciting opportunities and potential rewards in the ever-evolving digital landscape.

The post Ethena (ENA) price forecast; can it hit $1: Kangamoon raises $4M in presale appeared first on Invezz

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