According to data from DeFiLlama:

$ENA , on August 20, 2025, the total locked value reached 11.7 billion USD, setting a historical high.

This is due to the Boros project incubated by PENDLE, which helped ENA hedge a portion of the revenue risk, allowing ENA's staking volume to soar.

The specific logic is shown in the images below.

In terms of market feedback, the 4-hour chart shows a support level at 0.638, with signs of a rebound. In the short term, we can see levels around 0.68 - 0.76 above.

Current price: 0.644, it can be positioned.

At the same time, if ENA's staking volume continues to surge, it will be a continuous positive for the market, and ENA can be positioned for the long term; the current market can also be positioned for the long term.