ENA Token Surges 4.58% as USDe Supply Hits $9.55B and TVL Tops $10B Amid Major Unlock

Ethena (ENAUSDT) experienced a 4.58% price increase over the last 24 hours, rising from 0.5809 to 0.6075 on Binance. This upward movement is primarily attributed to strong protocol growth, including a recent milestone where Ethena’s USDe stablecoin supply reached $9.55 billion, making it the third-largest stablecoin by market capitalization, and the protocol’s Total Value Locked (TVL) exceeding $10 billion. Additionally, large holders have increased ENA accumulation ahead of the scheduled unlock of 171.85 million ENA tokens (2.7% of total supply), which has contributed to heightened trading activity and volatility. Despite the anticipated token unlock, ENA’s price has shown resilience, supported by positive sentiment around protocol expansion and upcoming partnerships.

Currently, ENA trades at 0.6075 with a 24-hour trading volume on Binance of $128.80 million and a market capitalization near $3.97 billion, reflecting robust market interest and ecosystem strength.