$ENA

1. ENA (Ethena) trades around $0.59, with a circulating supply near 6.6 billion and market cap of about $3.9 billion—currently down ~1–2% in the past 24 hours.

2. The token powers the Ethena DAO and underpins USDe, a dollar-pegged stablecoin collateralized by ETH and staked tokens via a delta‑neutral yield strategy.

3. Major risk factors include a scheduled token unlock (~1–2% supply), declining funding yields (down from 60% to under 5%), and vulnerabilities if liquid staking assets depeg.

4. Technical outlook: current support lies near $0.55, resistance around $0.62–$0.64; breaking resistance could trigger further upside, while failure below support may lead to deeper correction.