ENA Token Jumps 16.66% as Major Holders Accumulate and USDe Supply Surges Past $4.7B

Ethena (ENAUSDT) has surged 16.66% in the last 24 hours, with the current price at $0.7297 on Binance. The price increase is primarily attributed to several key developments: significant accumulation of ENA tokens by large holders, the launch of the USDtb stablecoin backed by BlackRock's BUIDL fund, and robust inflows into Ethena's Liquid Leverage feature. Additionally, the rapid growth in USDe stablecoin supply and its integration with Transak's fiat on-ramp have contributed to heightened investor interest and market activity. Trading volume remains strong, exceeding $1 billion, and market capitalization has risen to approximately $4.7 billion, reflecting increased confidence and bullish sentiment in the Ethena ecosystem.