ENA Token Sees 8% Price Drop Amid $1.32B Trading Surge and Robust Investor Interest

Ethena (ENAUSDT) experienced an 8.02% price decline in the last 24 hours, currently trading at $0.7136 on Binance. This downturn follows a period of strong bullish momentum driven by expanding adoption of Ethena’s synthetic dollar USDe, a $260 million buyback fund, and increased whale activity, but recent profit-taking and technical resistance near $0.84 have contributed to short-term selling pressure. Despite the price drop, market activity remains robust with a 24-hour trading volume of $1.32 billion and a circulating supply of 15 billion ENA, reflecting continued investor interest and underlying confidence in the Ethena protocol.