$ENA

Ethena’s governance token, $ENA, has surged up to ~14% recently, trading around $0.62, on boosted volume and market activity tied to its delta‑neutral synthetic dollar, USDe . A major token unlock event (~$100 M / ~2.7% of supply) on August 5, 2025 has stoked volatility concerns, even as USDe’s supply continues to climb—helping it become the third‑largest stablecoin by market cap . Whale movements and technical resistance around $0.62–$0.63 are key pivots: a sustained breakout could target $0.68+, while failure may lead to a pullback to $0.55–$0.58 .