$ENA

The price of ENA has risen to an upward trend as the supply of stablecoins in Ethena surpassed the $9 billion mark. According to the latest updates, the price of ENA increased by 17% from $0.5321 to $0.6228 on the daily chart, and it is currently trading at $0.6147 after short corrections from the daily peak.

*Market Forecast:*

- The cryptocurrency is likely to decline further before a critical rebound.

- ENA may see short-term gains if the broader market recovery continues.

- However, the $103 million token opening on August 5 raises bearish signals for ENA.

*Influencing Factors:*

- Growth of the USDe stablecoin and increased adoption.

- User participation in the Ethena ecosystem.

- Liquidity share.

*Future of ENA:*

- Ethena is establishing itself as a transformative force in the DeFi sector.

- ENA will benefit from the prevailing momentum of the USDe stablecoin.

- More demand and utility will open up as USDe adoption increases ¹.

The current price of ENA is $0.58, with the potential for additional gains ².