ENA Token Sees 2.14% Dip After Record $10B TVL and Whale Accumulation Drive Volatility

Ethena (ENAUSDT) experienced a 2.14% price decline over the past 24 hours, with the current price at $0.7149 on Binance. The recent price movement is attributed to profit-taking following a period of strong bullish momentum driven by record Total Value Locked (TVL) surpassing $10 billion, increased whale accumulation, and ongoing project buybacks. Notable whale purchases and heightened trading volumes earlier in the week contributed to upward pressure, but mixed market sentiment and volatility have led to short-term retracement. ENA maintains a market capitalization between $4.73 billion and $5.25 billion, with 24-hour trading volume ranging from $123 million to $1.37 billion, reflecting continued high interest and activity in the token.