ENA Token Rises 3.45% After 172 Million Unlock as USDe Stablecoin and TVL Hit New Highs

Ethena (ENAUSDT) has experienced a 3.45% price increase over the past 24 hours, rising from an open of $0.5763 to a current price of $0.5962 on Binance. This positive movement follows the recent unlocking of 172 million ENA tokens, which increased circulating supply by approximately 2.6%. Despite concerns about potential selling pressure from the unlock and reports of some large holders reducing positions, strong trading volumes and continued growth in Ethena’s USDe stablecoin supply—now the third-largest by market capitalization—have supported demand. Ethena’s Total Value Locked (TVL) remains robust at nearly $10 billion, reflecting ongoing user growth and ecosystem expansion. Over the last day, ENA’s price has fluctuated between $0.5839 and $0.6407, with Binance accounting for a significant portion of trading activity.