ENA Token Surges 7.94% as Institutional Transfers and $10B TVL Fuel Bullish Momentum

Ethena (ENAUSDT) has seen a notable price increase of 7.94% in the past 24 hours, rising from 0.7385 to 0.7971, driven by strong technical indicators, increased trading activity, and robust fundamental developments. Significant transfers of ENA by institutional investors to major exchanges, elevated trading volumes, and positive technical patterns such as bullish flag breakouts and a golden cross have contributed to heightened investor interest and buying pressure. Additionally, the Ethena ecosystem’s growth, including a $10 billion TVL for its USDe stablecoin and ongoing daily buybacks, has reinforced market confidence despite recent large inflows of ENA to exchanges.

Currently, ENAUSDT is trading at 0.7971 with a 24-hour volume of 427 million ENA and a market capitalization near $5.18 billion, reflecting strong performance and sustained bullish sentiment in the DeFi sector.