ENA Token Surges 8.71% Amid $21M Whale Transfers, High Trading Volumes, and Futures Growth

Ethena (ENA) experienced an 8.71% price increase over the past 24 hours, rising from $0.3202 to $0.3481 on Binance. This upward movement is primarily attributed to heightened trading activity following significant whale transfers, including a Mirana-linked wallet depositing over $21 million worth of ENA into Binance, which initially raised volatility concerns but was met with strong buy-side support in the spot market. Additional momentum was driven by recent additions to Coinbase's asset roadmap, which previously led to short-term price surges, and sustained high trading volumes, with $219 million traded in the last 24 hours. Despite no new protocol updates or partnerships, derivatives activity also increased, as open interest in ENA futures rose by 2% to $387 million, reflecting growing market engagement. Overall, ENA is demonstrating resilience and positive momentum amid ongoing volatility and significant token transfers, with a current market cap of approximately $2.1 billion and a CoinMarketCap ranking of #46.