Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

Key Points

1. Ethena's ENA token rose 21% in a single day, reaching a six-month high, with monthly gains exceeding 113% and a market cap of $3.6B.

2. StablecoinX Inc. announced a $360M capital raise to purchase ENA tokens and plans to list its shares on Nasdaq under the ticker 'USDE'.

3. USDe, a synthetic dollar on Ethereum, is compliant with the U.S. GENIUS Act and has been adopted by platforms like Ledger, TON Wallet, and Bybit.

4. Analyst Ansem predicts ENA could surpass $1, citing its unique 10%+ yields on billions in assets under management.

5. Technical analysis suggests ENA needs to close above $0.54 to sustain bullish momentum, with potential targets at $0.82 and $1.00.