$ENA Ethena Bulls Charge — 150% Rally Fueled by $10B TVL and Golden Cross Signal

Ethena (ENA) has grown 150% in 30 days and 40% in a week.

The protocol's Total Value Locked (TVL) surpassed $10 billion for the first time due to the acceptance of USDe, its synthetic dollar, which just became the world's third-largest stablecoin by market value.

Related: Ethereum Treasury Companies Threaten Bitcoin? Michael Saylor reveals his stance: daily $5 million ENA buybacks limit supply, but whale addresses with 100k-1M ENA grew 12% in July, owning approximately 30% of circulating tokens.

A bullish golden cross—the 50-day Exponential Moving Average crossing above the 200-day EMA—supported ENA's breakthrough.

The token's MACD has crossed bullishly, and its RSI is approaching 74, indicating strong momentum without overbought circumstances.

The bullish flag pattern broke on August 10 as ENA rose 14.7% from $0.64 to $0.81, pushing toward today's high at $0.85.