$ENA Ethena ($ENA ) Rallies 13% as Buying Pressure Mounts Across Spot and Futures Markets

August 5, 2025 — #Ethena (ENA) is showing strong signs of bullish revival, surging by 12.9% to reach a local high of $0.628, after successfully holding its key $0.51 support level. As of press time, ENA was trading at $0.622, up 13.17% on the day. The price rally comes amid a significant 28% spike in 24-hour trading volume, which rose to $1.14 billion, signaling renewed market demand and buyer confidence.

Spot Market Activity Flips #Bullish

The broader crypto market recently experienced a retracement that led to a temporary cooling-off period among investors. During this phase, Ethena’s Buy-Sell Delta turned negative, reflecting short-term bearish sentiment. However, that narrative has shifted.

According to data from Coinalyze, ENA witnessed a strong turnaround in buyer behavior over the past 24 hours. The platform reported approximately $46.99 million in Buy Volume, compared to $42.3 million in Sell Volume—effectively flipping the Buy-Sell Delta to a positive $4.63 million.

This marked change underscores a resurgence in spot market accumulation, typically a precursor to sustainable price appreciation.

Key Takeaway: A positive Buy-Sell Delta reflects renewed buying interest and increased confidence among retail and institutional investors.