ENA Token Surges 13% After $260M Buyback, Anchorage Partnership, and $1B Trading Volume on Binance

Ethena (ENA/USDT) has risen 13.07% over the past 24 hours, currently trading at 0.6072 USDT on Binance, with a 24-hour open of 0.5370 and trading volume exceeding $1 billion. The recent price surge is attributed to several key factors: Ethena’s announcement of a $260 million token buyback program, a new partnership with Anchorage Digital, and ongoing whale accumulation as indicated by on-chain data. Additionally, the protocol’s Total Value Locked (TVL) remains robust above $10 billion, and recent integration with Aave reportedly drove a 44% price increase. Despite some volatility and notable token sales by Arthur Hayes during a major unlock, technical indicators show ENA trading above its major moving averages, reflecting strong bullish momentum and heightened market interest.