ENA Token Surges 2.98% as Whale Accumulation and USDe Growth Drive $900M Trading Volume

Ethena (ENA) has experienced a 2.98% price increase over the past 24 hours, currently trading at $0.6525 on Binance. This upward movement is primarily attributed to recent whale accumulation exceeding 1 billion ENA tokens, robust trading volumes, and positive sentiment following the rapid growth of Ethena’s USDe stablecoin, which recently surged to become the third-largest dollar-pegged stablecoin. Additional factors supporting the price include the integration of USDe with Transak’s global payment network and the launch of Ethena Labs’ "Liquid Leverage" product, which attracted over $1.5 billion in deposits. The market remains active, with 24-hour trading volume near $900 million and a circulating supply of approximately 6.62 billion ENA, reflecting strong investor interest and ecosystem expansion.