ENA Token Sees 6.64% Price Drop Amid $66,900 Short Liquidations and High Trading Volume

Ethena (ENAUSDT) experienced a 6.64% price decline over the past 24 hours, with the current price at 0.6842 USDT on Binance. This drop is primarily attributed to recent bearish sentiment following a notable price decrease earlier in the week, increased short position liquidations totaling $66,900, and ongoing volatility around key support levels. Despite the short-term decline, trading volume remains robust at over 130 million ENA, reflecting sustained market interest. Ethena’s market capitalization is estimated between $4.53 billion and $4.76 billion, with a circulating supply of approximately 6.6 billion ENA, and the asset has shown significant intraday volatility with a 24-hour high of $0.8427 and a low of $0.5313.