$ENA Surges 10% as USDe Supply Jumps 75% – Whales Eye Breakout Above $0.68

Key Points

1. Ethena's $ENA token rose 10% in 24 hours, trading at $0.6196, with USDe's market cap surging 75% to $9.29 billion, making it the third-largest stablecoin.

2. $ENA rallied 140%-155% in July, with weekly trading volume reaching $1.41 billion and open interest increasing, fueled by institutional interest and whale accumulation.

3. Arthur Hayes invested $1.06 million in $ENA, and large holders accumulated 79.25 million ENA in a week, boosting confidence in the token.

4. Analysts project $ENA could reach $1.00-$1.50 by year-end, driven by USDe adoption, regulatory clarity, and strong investor confidence.

5. $ENA is testing the $0.68 resistance level again after an 18% price jump, with reduced leverage and liquidation risks compared to previous attempts.