Movement of $ENA (Ethena)

As of August 5, 2025, ENA, the native token of the Ethena protocol, is trading around 0.62 USD, after a strong increase of 13% in the last 24 hours.

The trading volume grew by 28%, reaching 1.14 billion USD, while the open interest in futures rose by 17%.

This rally occurs just after the supply of USDe, Ethena's stablecoin, reached a record of 8.73 billion USD.

This figure represents not only capital expansion but also growing adoption of the ecosystem.

Despite the bullish momentum, a token unlock of over 100 million USD is approaching on August 6, which could generate short-term volatility.

The key resistance is located between 0.64–0.68 USD, and a breakout could lead to 0.70 USD or more if the momentum persists.