ENA Token Surges 13% as Trading Volume Tops $1.1B Amid Whale Moves and Token Unlock Anticipation

ENAUSDT experienced a 13.04% price increase over the past 24 hours, rising from 0.5498 to 0.6215, with trading volume exceeding $1.1 billion. The price surge is attributed to heightened market activity following Arthur Hayes' sale of 7.76 million ENA tokens, anticipation of the upcoming August 5 token unlock (171.88 million ENA), and strong growth in Ethena’s USDe stablecoin supply, which has positioned Ethena as a leading DeFi protocol. Despite some short-term bearish signals and whale exits ahead of the unlock, bullish sentiment has been supported by robust fundamentals, ecosystem partnerships, and technical indicators showing strong investor interest. ENA is currently trading near $0.62, with a market cap of approximately $3.82 billion and a circulating supply of 6.35 billion tokens.