ENA Token Sees $77M Exchange Inflows and Whale Accumulation Amid Surging TVL and Stablecoin Growth

Ethena (ENAUSDT) experienced notable volatility in the past 24 hours, with the price currently at 0.6164 USDT, down 2.93% from the 24h open of 0.6350. The price change is primarily attributed to significant whale accumulation, with over 1 billion ENA tokens added to large wallets and $77 million ENA transferred to exchanges, driving initial bullish momentum. However, increased trading activity and profit-taking led to a retracement from intraday highs, as reflected in the closing price near 24-hour lows. Additional factors influencing market sentiment include Ethena’s growing USDe stablecoin supply, a substantial rise in total value locked (TVL), and the launch of the USDtb stablecoin backed by BlackRock’s BUIDL fund. Trading volume remains robust, exceeding $846 million in the last 24 hours, with ENA’s market capitalization at approximately $4.06 billion and a circulating supply of 6.62 billion coins.