[Cryptocurrency underdog ENA surges, attracting attention from BitMEX co-founder]
BitMEX co-founder Arthur Hayes noted the recent performance of Ethena (ENA), noting that the Ethereum-based synthetic dollar protocol continues to climb the rankings despite criticism. Hayes cited a tweet from Athena Labs founder Guy Young, who noted that the project had added nearly $450 million in USDe supply in the past 16 days.
ENA has climbed to 68th place among 10,043 active cryptocurrencies, according to CoinMarketCap. Market capitalization rose 0.25% in the past 24 hours to $1.39 billion. ENA’s trading volume has increased by more than 10% in the past 24 hours to over $314.5 million, placing it in 29th place in terms of trading volume with a circulating supply of 1.52 billion ENA.
The data shows that 79.84% of ENA addresses hold values between $0 and $1,000, 19.65% hold values between $1,000 and $100,000, and only 0.51% hold values above $100,000.
ENA bounced off support on May 16 after a nearly five-week pullback, reversing from $0.6538 and rising 48.65% over the past ten days, according to TradingView data. The latest rally broke important resistance near $0.75 and is targeting the next important level at $0.95. It is currently trading at $0.9246.
