ENA Token Surges 12.57% as USDe Launch on TON Blockchain Sparks Record Trading and APY Incentives

Ethena (ENAUSDT) has experienced a notable 12.57% price increase over the past 24 hours, currently trading at 0.4378 USDT on Binance. The recent price surge is primarily attributed to the launch of Ethena's synthetic dollar (USDe) on the TON blockchain, which introduces up to 10% additional APY in TON for staking and liquidity provision starting July 14, 2025. This development, combined with ongoing airdrop incentives in ENA's fourth season and robust trading activity, has driven heightened market interest and participation. Over the last day, ENA's trading volume on Binance reached 166.54 million ENA (66.73 million USDT), with the broader market showing strong momentum and a weekly price gain exceeding 15%. The circulating supply stands at approximately 6.4 billion ENA, with a market capitalization near $2.75 billion.