The supply of the $ENA synthetic stablecoin USDe increased by 75% in one month, which is the fundamental reason for the surge of ENA. It is currently the third largest stablecoin.

However, on August 5, 2.7% of the supply, approximately 100 million dollars worth of ENA, will be unlocked. If it retraces to the range of 0.50-0.55 dollars again, it would be a good buying opportunity, as there is still great hope for it to reach the target resistance levels of 0.77 dollars and 0.90 dollars in the future.