Ethena price has zoomed nearly 21% in a single day and over 50% across the past week. This bullish trend comes in the wake of StablecoinX initiating a massive $260 million ENA purchase program, buying $5 million worth of tokens daily. At the same time, Ethena has drawn institutional attention with its regulatory-compliant stablecoin, USDe, whose supply has now exceeded $7 billion.
With volumes and activity both spiking, investors are now watching closely to see if ENA can conquer the next resistance and continue its ascent. If you are one of them, you cannot miss out on this ENA price analysis.
Active Addresses Hit an ATH?
On-chain data by Santiment reveals a notable surge in 24-hour active addresses, peaking at 3,438, the highest in ENA’s…
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