ENA Token Sees 2.83% Price Dip Amid Volatility, $112M Volume and Strong Buyer Accumulation

Ethena (ENAUSDT) experienced a 2.83% price decrease over the last 24 hours, currently trading at 0.7106 USDT on Binance. The recent price movement is attributed to increased volatility and consolidation following a strong bullish run, with analysts noting potential corrective moves and resistance levels around $0.96 and $1.10. Social media sentiment indicates ongoing accumulation, with buyers representing over 60% of order flow, but some contributors highlight significant sell walls and outflows, suggesting possible distribution and caution among traders. Ethena’s market capitalization is estimated at $4.74 billion, with a 24-hour trading volume exceeding $112 million, and the circulating supply ranges between 5.55 and 6.62 billion tokens. No recent protocol updates, partnerships, or upcoming events have been reported.