Ethena’s ENA Token Sees Potential Uptick Following Upbit Listing Amid Market Unlocks
2025-07-11 06:46:38
Main Idea
Upbit's listing of Ethena’s ENA token has led to a significant price increase and expanded accessibility in South Korea's crypto market, supported by strong protocol growth and token unlocks.
Key Points
1. ENA is now tradable on Upbit against KRW, BTC, and USDT, with deposits and withdrawals exclusively via the Ethereum network.
2. The listing caused ENA's price to surge by 19.27%, from $0.327 to $0.390, reflecting market confidence.
3. Despite large token unlocks (over 210 million ENA in July), the token maintained upward momentum due to Ethena's strong protocol fundamentals.
4. Ethena's total revenue reached $290.2 million, with $100 million achieved in just 251 days post-launch, highlighting its rapid growth.
5. Upbit's listing enhances ENA's liquidity and accessibility, potentially attracting more trading volume and institutional interest.
Description
Upbit, South Korea’s largest cryptocurrency exchange, has listed Ethena’s native token ENA, triggering a significant 19.27% price surge. ENA is now available for trading against KRW, BTC, and USDT, with
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