The Donald Trump effect kept that altcoin afloat: New highs on the way!

The #Ethena ($ENA ) price has risen by 10 percent in the last 24 hours, challenging the crypto market and reaching $1.20. This rise was achieved thanks to the increased purchases of ENA whales and the collaboration with the crypto project World Liberty Financial (#WLFI ), supported by the Trump family.

Despite the pullback in cryptocurrencies, the ENA price increased by 10 percent today, reaching $1.20. Daily trading volume increased by 174 percent, exceeding $1 billion. Coinglass data shows that open positions increased by 20 percent to $700 million, and traders are positive towards Ethena.

Onchain data platform Spot On Chain shared data showing that crypto whales are eager to buy ENA. A newly created wallet purchased 5.29 million tokens from Binance at an average of $1.12.

Trump’s World Liberty Financial (WLFI) project purchased 231,726 ENA for 250,000 USDC just 20 minutes ago, following the announcement of a partnership with Ethena Labs.

Ethena Labs recently officially announced a partnership with the Trump family-backed World Liberty Financial (WLFI) project. The partnership aims to increase USDe liquidity and improve user rewards on WLFI’s decentralized finance (#DeFi ) platforms.

The announcement states that a governance proposal will be presented that includes integrating Ethena’s sUSDe synthetic dollar as the underlying collateral asset of WLFI’s Aave-based lending and borrowing platform. The development stands out as one of the major reasons behind today’s surge in Ethena’s price.