Crypto analyst Altcoin Sherpa indicates that the Ethereum-based synthetic dollar protocol, Ethena (ENA), might maintain its strong performance. Sherpa advised his 234,500 followers on the social media platform X to invest in ENA during price drops. According to the analyst, this asset has the potential to outperform a significant portion of the market.
ENA Gains Eightfold in Three Months
Currently ranked 56th by market capitalization, ENA has gained substantial momentum, increasing its value eightfold over the past three months. It is currently trading at $1.18, with a rise of over 1% in the last 24 hours.
Altcoin Sherpa believes that ENA’s current performance is sustainable. He emphasizes that investors can seize the opportunity by purchasing during price declines, which contrasts his more cautious statements regarding other major projects in the market.
The rapid success of ENA has captured investors’ attention, particularly with the growing interest in Ethereum-based projects, which positively contributes to ENA’s performance.
Solana May Lag Behind ETH and Bitcoin
Sherpa expresses a more cautious view on Solana 
$247 (SOL), suggesting it may fall behind Ethereum (ETH) 
$3,328 and Bitcoin 
$103,967 in the medium term. He stated, “SOL will lag behind both ETH and Bitcoin in the coming months. I cannot predict the long-term outcome, but I must think rationally.”
Currently, Solana is ranked 6th by market capitalization, trading at $217.74. However, it has experienced a decline of over 1% in the last 24 hours.
While the analyst trusts Solana’s technological potential, he believes its performance will be weak compared to ETH and Bitcoin in the short term, raising concerns about Solana’s future in the crypto market.
In conclusion, Sherpa’s insights present significant information for market trend followers. He asserts that investing at the right time during price dips can yield profits while advising investors to be cautious due to the market’s volatile nature.
In summary, ENA’s rapid rise presents an attractive opportunity for investors. In contrast, Solana’s future is fraught with risk and uncertainty. Thus, it is crucial for investors to closely monitor market analyses.
