ENA Token Surges 20% Weekly Despite 4% Pullback, Whale Activity and USDe Growth Drive Momentum

Ethena (ENAUSDT) experienced a 4.08% price decrease over the past 24 hours, currently trading at 0.7387 USDT on Binance. The recent price decline follows a period of heightened volatility and profit-taking after ENA broke above the key $0.70 resistance level and completed a bullish breakout, supported by strong trading volumes and notable whale activity, including purchases by Arthur Hayes. Despite the short-term pullback, Ethena maintains a bullish outlook, with its USDe stablecoin now ranking as the third-largest by total value locked and weekly gains exceeding 20%. The 24-hour trading volume remains robust, reflecting sustained market interest and active participation.