Ethena’s Recent Surge Suggests Potential for Continued Growth Amid Strong Retail Demand and Network Adoption

Key Points

1. Ethena's price increased from $0.51 to $0.855, marking a 31% surge in a week and a 7-month high.

2. Network activity and positive sentiment have driven capital inflows, with a 9.05% increase in the last 24 hours.

3. Santiment’s data showed Ethena logging positive Price DAA Divergence for seven days, indicating strong fundamental demand.

4. Whales have shown caution, with no significant orders in the past 30 days, while retail traders drive spot buying with a positive Buy-Sell Delta of 8.33 million.

5. If buyers maintain the price above $0.70, a push towards $1 may be plausible, but failure to hold this zone could drag ENA back to $0.55.