Upbit, the largest exchange in South Korea by trading volume, announced the listing of ENA, the native token of the Ethena protocol. Following the announcement, the digital asset recorded significant appreciation in the first hours of trading in the Asian market.
According to an official statement from the platform, it began trading ENA against three pairs: South Korean won (KRW), Bitcoin (BTC), and Tether (USDT). Trading started at 5 PM (Korea Standard Time), and the platform opened deposits and withdrawals up to two hours after the announcement.
Additionally, the exchange emphasized that deposits are accepted exclusively via the Ethereum network, recommending attention to the contract address: 0x57e114B691Db790C35207b2e685D4A43181e6061. Upbit also informed that if the initial liquidity is insufficient, the start of trading may be delayed.
$ENA listed on the largest Korean exchange. It's time for liftoff!
Yachtzee 
pic.twitter.com/6V4FeUiYmq
— Arthur Hayes (@CryptoHayes) July 11, 2025
Appreciation follows a pattern observed with other listings.
The inclusion of ENA follows the listing of other altcoins, such as hyperlane (HYPER) and babylon (BABY), which also recorded increases after entering the platform. Investors also observed the same pattern with ENA, which had its price raised from $0.327 to $0.390, accumulating a gain of 19.27%. Subsequently, the token retreated to $0.357, but was still showing an increase of 9.9% at the time of the report.
In the last two weeks, ENA showed a growth of 42.3%, even after two token unlocks. On July 2, the responsible parties released 40.63 million units, and on July 5, they released another 171.88 million. Despite the increase in supply, the token maintained an appreciation trend.
Furthermore, the Ethena protocol recorded significant progress in its revenue. According to data from CryptoRank, the platform accumulated $290.2 million in total revenue by July 9. This performance places Ethena among the leading stablecoin issuers globally, behind only Tether, Circle, and Sky.
Performance of the Ethena (ENA) Crypto Token. Source: TradingView
The report also highlighted that Ethena was the second platform to reach $100 million in accumulated revenue in the shortest time, achieving the milestone in just 251 days after its launch.
The article 'Ethena (ENA) Price Soars 19.27% After Listing on Upbit' was first seen on BeInCrypto Brazil.