$ENA / USDT Market Update 🎉🍒

Ethena (ENA) token has been in the news recently due to several developments. Here are some key updates:

- *Token Unlock Worth $106 Million*: Ethena's token unlock worth $106 million has led to liquidity risk concerns, causing the token price to dip. Despite this, the token has shown resilience and surged 13% to $0.622, with trading volume increasing 28% to $1.14 billion.

- *USDe Integration by Deribit*: Deribit, a major cryptocurrency derivatives exchange, plans to integrate Ethena's synthetic dollar USDe as rewarding margin collateral, pending regulatory approval. This integration is expected to unlock new structured product use cases and increase USDe's adoption.

- Record $8.73 Billion USDe Supply: The circulating supply of USDe, Ethena's synthetic dollar-pegged stablecoin, has reached an all-time high of $8.73 billion. This surge reflects growing user adoption and increased capital inflows into the protocol.

- *Whale Activity*: Large holders of ENA accumulated 5.4 million tokens, worth $2.3 billion, indicating market confidence and potential price appreciation.

- *Partnerships and Investments*: Ethena Labs has partnered with major players like BlackRock and Securitize for its new stablecoin project, UStb. The project has also secured significant investments, bolstering confidence in its ecosystem.

- *Price Performance*: ENA has surged over 96% in 30 days, driven by key developments within its ecosystem and heightened whale activity. Analysts remain optimistic about ENA's price trajectory, with some predicting a potential rally to $0.77 or even $1.50 in the near term ¹ ² ³.