Over the past 30 days, Ethena (ENA) has surged by a massive 96.6%, with most of these gains occurring in the last week alone. The token's price jumped 45.1% in the past 7 days, taking ENA’s market cap from $420M in mid-September to $1.14B! 🌐🔥
This impressive rally is driven by key ecosystem developments, including the integration of the decentralized exchange Ethereal into Ethena Labs’ reserve management system, which is expected to boost liquidity and utility for ENA tokens.
Additionally, Ethena Labs is diversifying by investing $46M of its reserve fund into tokenized assets, with major backers like BlackRock and Securitize supporting its new stablecoin UStb, adding further confidence in ENA’s future. 💼💰
Whale activity has also surged, with large holders accumulating over $2.3B worth of ENA tokens on October 15th alone, signaling market confidence. 📈
While ENA saw a slight dip after hitting a two-month high of $0.455, analysts remain optimistic. Many expect the token to rally further, with predictions of a 150% increase in the near term, as it breaks out of a bullish pattern. 💹
With the growing number of token holders in profit, will you be part of ENA's next move? 🚀
