ENA Token Surges 13.79% After $260M Buyback, Major Withdrawals, and Anchorage Digital Partnership

Ethena (ENAUSDT) experienced a notable price increase of 13.79% over the last 24 hours, rising from 0.5418 to 0.6165 on Binance. This upward movement is primarily attributed to positive market sentiment following Ethena’s $260 million token buyback announcement, a new partnership with Anchorage Digital, and a significant withdrawal of over 1.07 billion ENA tokens from exchanges, which reduced selling pressure and signaled increased long-term confidence. Additional bullish momentum was supported by technical indicators such as a "Golden Cross" and a surge in trading volume, while investor attention was heightened by the reported sale of 7.7 million ENA tokens by Arthur Hayes.

Currently, ENAUSDT is trading at 0.6165 with a 24-hour trading volume of approximately $945 million and a market capitalization estimated between $3.33 billion and $3.75 billion. The asset has shown strong volatility, with recent price action breaking through key resistance levels and maintaining high trading activity, reflecting ongoing institutional interest and robust protocol growth.