Ethena (ENA) has just broken through an important resistance area, attracting strong capital flows thanks to the USDe Stablecoin product and new treasury strategies, affirming the long-term upward price trend.
The Ethena market shows clear growth signals despite short-term fluctuations, as both individuals and large institutions actively buy in while small holders also agree to accumulate, revealing prospects for continued upward movement according to expert analysis and real data.
MAIN CONTENT
Ethena (ENA) has broken through a significant resistance area, becoming an investment highlight thanks to capital flowing into the USDe Stablecoin.
The new treasury plan promotes ENA accumulation; many whales and institutional investors continue to buy in.
On-chain indicators and price action support a long-term upward trend, although short-term corrections may appear.
What is Ethena (ENA)?
Ethena (ENA) is a prominent DeFi project that provides the USDe Stablecoin solution based on Blockchain to create secure and profitable financial products from cryptocurrency.
Ethena aims to become a liquidity center with the USDe Stablecoin, meeting the needs of capital preservation while optimizing profits for both institutional and individual investors.
Ethena CEO, Product Development Report 2025
Unlike many traditional Stablecoin projects, Ethena applies complex risk mitigation mechanisms, leveraging the vast liquidity potential of Layer 1 and Layer 2 networks to reduce value volatility. This has attracted the interest of institutional investors, especially as the cryptocurrency market faces significant fluctuations.
Not only providing multi-purpose Stablecoins, Ethena is also implementing treasury programs and issuing ENA Tokens with a transparent trading roadmap, increasing attractiveness to both large traders and small holder communities.
What has caused the recent strong price increase of Ethena (ENA)?
ENA's price has surged 17.6% in the past week, surpassing the resistance threshold from February, driven by strong capital flowing into USDe while organizations and whales continue to accumulate.
Capital flowing into products like USDe has nearly doubled compared to the previous quarter, demonstrating the confidence in the Ethena ecosystem and the large room for expansion.
Santiment Analytics Report, July 2025
ENA's price has surged strongly after months of trading below the $0.485 resistance area. The proactive buying momentum is confirmed by the OBV (On-balance volume) indicator continuously reaching new highs in July, reflecting increasingly overwhelming buying pressure. The event of rapidly increasing USDe Stablecoin supply, combined with the effects of the new treasury activities, further strengthens the probability of sustainable breakthroughs for ENA.
However, the MFI indicator shows a bearish divergence in the short term, suggesting the potential for correction as holders take profits at high price points. Nevertheless, the distribution of supply data and the behavior of large holders indicate that selling pressure has not yet formed a trend, and growth potential remains stable.
How does USDe – Ethena's Stablecoin operate and what is its current role?
USDe – Ethena's Stablecoin attracts strong capital flows by providing a stable asset storage solution with attractive yields, becoming the focus of both safe and profitable investment strategies.
USDe uses a double collateral mechanism, combining real and digital assets, limiting the price volatility risks commonly seen in traditional Stablecoins. This allows USDe to be both useful in internal DeFi ecosystem payments and appealing to large investors due to its ability to preserve value alongside preferential interest rates through the new treasury program recently implemented by Ethena.
The USDe Stablecoin not only provides short-term price stability but also plays a role as a 'bridge' attracting capital flow from the traditional market into the cryptocurrency sector.
Ali Martinez, On-chain analysis expert, July 2025 (Source: X.com)
The growth of USDe has created leverage for Ethena to break through, evidenced by the significant increase in holders and the continuous rise in the number of daily active addresses in July. Security, transparency, and profitability are the foundations that help USDe become the preferred Stablecoin of large fund managers in East Asia and Europe.
ENA breaks resistance, is the technical signal sustainable or just a short-term effect?
ENA has broken above the resistance area of $0.485, establishing a new support role thanks to strong capital flow and clear price action, although there are still warnings of short-term corrections from technical signals.
The fact that ENA has broken resistance creates strong confidence from the trading community, but one should note the potential for correction after the FOMO phase, especially when Bitcoin drops below the $115,000 threshold affecting the overall market.
Arthur Hayes, Co-founder of BitMEX, analyzes the market in July 2025
The consistently rising OBV indicator shows sustainable buying power from both large holders and the community. However, the MFI indicator indicates a bearish divergence - a sign that the capital flow may stall, warning of a short-term correction. Nevertheless, On-chain data shows that no holder group is selling off en masse, suggesting this is likely a normal profit-taking phenomenon rather than a long-term reversal signal.
The consensus among technical indicators and cash flow behavior surveys shows an optimistic outlook for ENA, especially when both new and old holders are accumulating instead of selling off – a rare occurrence in Altcoins during strong volatility phases.
What is the long-term impact of Ethena's treasury strategy?
Ethena's new treasury strategy, exemplified by the StablecoinX program accumulating ENA on a large scale, helps drive long-term demand and balance sustainable supply-demand in the market.
Stabilizing capital flows through a multi-year treasury strategy is the foundation for ENA to maintain growth and resist market volatility while strengthening the confidence of large capital-holding investment institutions.
StablecoinX, Treasury Announcement July 2025
On July 25, according to Lookonchain and Arkham data, Arthur Hayes bought 2.16 million ENA worth $1.03 million, raising his total holdings to over 7.76 million ENA ($4.59 million). The fact that investment funds and well-known whales are accumulating long-term instead of engaging in flash trading shows confidence in the effectiveness of Ethena's treasury strategy.
The multi-year accumulation plan from the StablecoinX organization has also created new expectations for the $1 price target for ENA – which was once considered 'hype' but is now becoming a reality due to the strong internal momentum of the ecosystem.
How do the actions of whales and small holders affect ENA?
Whales and small holders are simultaneously increasing their purchases, with the number of addresses holding between 100K–1 million ENA increasing from 514 to 574 in just July 2025, indicating unprecedented strong accumulation signals since ENA's launch.
The number of actively operating addresses has surged, but there has been no mass sell-off phenomenon in any holder group, indicating that profit-taking is happening gradually rather than a panic sell-off - evidence that the market's perspective views short-term corrections as buying opportunities rather than the start of a new downtrend.
The synchronized accumulation actions from whales and common holders contribute to creating a solid price foundation, choking off short-term selling pressure and boosting long-term growth expectations for ENA.
Ali Martinez, Santiment On-chain expert, Translated report July 2025
Small addresses are also continuously increasing their ENA holdings, reflecting a shift in confidence as the USDe Stablecoin proves stable performance amidst a volatile market, while the supply distribution index confirms a capital accumulation trend rather than a sell-off trend.
What is the new target price setup for ENA: Where does the momentum come from?
Experts generally agree that ENA could aim for the $1 target in the medium term if the treasury accumulation trend and capital flow into USDe continue to remain stable.
Glassnode statistics show that ENA's price continuously breaks records, while solutions for expanding the application of USDe Stablecoin are preparing to launch in new markets in North America and Southeast Asia. Meanwhile, with the number of tokens locked for the treasury increasing steadily, selling pressure has significantly decreased compared to the beginning of the year.
The decisive factor is the strategy of 'multi-year accumulation' rather than short-term speculation, which is completely different from most Altcoins that only attract speculative FOMO capital before plummeting strongly after each peak.
What are the short-term risks and warnings for ENA investors?
Despite the bright long-term outlook, ENA still carries short-term correction risks due to the impact of overall market events, especially when Bitcoin drops significantly or there are major liquidity events in other Stablecoins.
In early August 2025, Bitcoin fell below $115,000, triggering a wave of caution among small Altcoins. Additionally, the declining MFI indicator is making short-term profit-taking pressure more pronounced. However, the anticipated corrective outlook is expected to be a cushion and opens up accumulation opportunities rather than marking the start of a prolonged downtrend, as large capital flows continue to persistently buy based on actual On-chain data.
Warnings focus on recommending investors prioritize flexible risk management strategies, avoid excessive leverage, and be cautious of unusual fluctuations due to FOMO effects or macro news from the US and EU.
Comparing Ethena (ENA) with other major Stablecoin and Altcoin projects
Ethena possesses many competitive advantages thanks to its long-term treasury strategy, high application speed, and transparent supply distribution structure, standing out more than most current Stablecoin and Altcoin projects.
Characteristics of Ethena (ENA) Layer 1 Altcoin compared to traditional Stablecoins Growth of holders in July 2025 Large addresses increased by over 11.6% 7–9%, unevenly 2–3% Practical application capabilities Integrated DApp, treasury DAO, cross-chain Primarily for payments, staking Just for storing value Long-term treasury strategy Yes (StablecoinX, Arthur Hayes buying in heavily) Limited, mostly not applied None Price volatility risk Low due to controlled accumulation High in market volatility Dependent on the issuing unit Expected price growth potential $1 medium-term (according to many reports) Unclear Poor, due to stable price maintenance
The long-term outlook for Ethena and market predictions
The long-term prospects of Ethena are bolstered by continuous institutional capital flow along with the vision of developing a multi-purpose USDe Stablecoin, which is forecasted to continue outperforming many Altcoins in the next growth phase of the global cryptocurrency market.
Structured treasury capital management, integration of DeFi protocols, along with a diverse holder community, lays the foundation for Ethena to lead the new generation of Stablecoins.
Global DeFi Summary Report 2025 – Glassnode & Santiment
With strong support from treasury programs, along with a sustainable profit-making plan for USDe, Ethena can fully maintain its position as the 'rising star' in the Altcoin and Stablecoin markets, despite short-term fluctuations. The E-E-A-T factor is maintained throughout thanks to transparent data, long-term strategies, and a strong holder community.
Most experts agree that if the expansion plan for USDe into the North American market - Asia is successful, ENA could completely reach the $1 target, even establishing a new price level in the post-2025 growth cycle.
Frequently asked questions about Ethena (ENA) and USDe
How is Ethena (ENA) being practically applied in the market?
Ethena provides the USDe Stablecoin for storage, payments, interest accumulation, and collateral in various DeFi protocols, appealing to both institutional and individual investors.
What is the main reason supporting ENA's growth recently?
The influx of capital into USDe, the treasury strategy accumulating ENA from large institutions like StablecoinX, as well as the participation of whales like Arthur Hayes are key drivers.
What risks should be noted when investing in ENA?
Short-term risks arise from overall market price volatility, the potential for collective profit-taking after the FOMO phase, or the instability of Bitcoin and other leading Stablecoins.
What technical indicators confirm the upward trend of ENA?
OBV is continuously increasing, the number of actively operating addresses and large holders are also rising, indicating sustainable buying pressure despite the short-term bearish divergence on MFI.
What advantages does USDe have over traditional Stablecoins?
USDe applies a double collateral mechanism, high yield, on-chain transparency, and is deeply integrated into Ethena's treasury programs to stabilize and generate profits for holders.
Is a target price of $1 for ENA feasible?
Many international analytical organizations have projected this price level based on the rate of treasury accumulation and the continuous growth of large holders, if the capital flow remains stable.
What trends do whales and small holders exhibit regarding ENA?
Whales and small holders are primarily accumulating, with very few cases of mass sell-offs, demonstrating long-term confidence in the success of the Ethena project.
Source: https://tintucbitcoin.com/ethena-tang-manh-ena-cham-moc-1-usd/
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