Ethena (ENA) has seen increased interest from the cryptocurrency market, particularly due to the decision by
Arthur Hayes to buy $1M ENA. The positive effect was reflected in its current upward movement and possible expansion towards a $1.50 target by August. However, the coin has struggled to maintain support levels amidst market turbulence, and faced a notable 17% drop in a week. In the meantime,
Hayes continues to show confidence by purchasing nearly $1M ENA ahead of the Hyperliquid USDH stablecoin vote. The self-assured investment scheme may trigger a price surge. At the same time, ENA has recently enjoyed a 14% gain within 24 hours due to a Golden Cross, which is suggesting a breakout move to the $1 mark in August. Even with massive token unlocks, ENA continues its upward trajectory, sparking a question about what's driving such rapid growth. It is noted that STABLEX’s $530 million investment significantly contributed to this growth. Ethena's ENA also appears to be preparing for a stablecoin supercycle, with the coin expected to explode up to 3000% according to
Hayes. The potential of ENA is further highlighted by its recent 20% growth as the protocol experiences a $750M inflow amid rising crypto funding rates. Overall the continuous accumulation and strategic moves by ENA have drawn significant attention towards it in the crypto market.
ENA Coin News Analytics from Wed, 04 Jun 2025 07:00:00 GMT to Mon, 15 Sep 2025 20:43:21 GMT -
