ENA Token Surges 4.5% as StablecoinX Plans $360M Acquisition and USDe Supply Tops $6B

Ethena (ENA) has experienced a 4.50% price increase over the past 24 hours, currently trading at $0.5177 on Binance. The recent price surge is primarily attributed to renewed investor confidence following the USDe stablecoin supply surpassing $6 billion, increased market-wide crypto activity, and the announcement of StablecoinX's plan to acquire $360 million worth of ENA tokens. Elevated trading volumes, which have reached up to $2.72 billion in the last 24 hours, and a breakout above key resistance levels have further supported bullish momentum. ENA’s market capitalization stands at approximately $3.47 billion, with a circulating supply of 6.4 billion tokens, reflecting strong market interest and continued positive sentiment.