{"id":5216,"date":"2025-07-21T04:27:19","date_gmt":"2025-07-21T04:27:19","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethena-ignites-ena-doubles-as-whales-pile-in-yields-top-10\/"},"modified":"2025-07-21T04:27:23","modified_gmt":"2025-07-21T04:27:23","slug":"ethena-ignites-ena-doubles-as-whales-pile-in-yields-top-10","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethena-ignites-ena-doubles-as-whales-pile-in-yields-top-10\/","title":{"rendered":"Ethena ignites: ENA doubles as whales pile in, yields top 10%"},"content":{"rendered":"
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Ethena price jumped for six consecutive days, reaching its highest level since March as inflows into the ecosystem and whale accumulation continued.<\/p>\n

Ethena (ENA) token soared to a high of $0.4617, up by 110% from its lowest level this year. This surge, which happened in a high-volume environment, pushed its market capitalization to nearly $3 billion.\u00a0<\/p>\n

Ethena\u2019s growth happened as investors continued to allocate their capital into its algorithmic stablecoins. DeFi Llama<\/a> data shows that the total value locked in its platform soared to over $6.17 billion, crossing the previous all-time high of $6.1 billion.\u00a0<\/p>\n

Most of these assets are in USDe, its algorithmic stablecoin that has over $6 billion. The remaining funds are in Ethena Labs USDtb, which has over $159 million in assets.\u00a0<\/p>\n

The USDe assets jumped as the annual percentage yield crossed the 10% milestone for the first time this year. This makes it a more yield-generating asset compared to other cryptocurrencies.<\/p>\n

Still, it is unclear whether the USDe stablecoin will be offered in the U.S. after President Donald Trump signed the GENIUS Act <\/strong>into law on Friday.\u00a0<\/p>\n

<\/p>\n

One of the core provisions of the law is that all stablecoins offered in the US should be backed 1:1 with US dollars and other liquid assets like government bonds.\u00a0<\/p>\n

These assets do not back Ethena\u2019s USDe. Instead, like the collapsed Terra USD, the stablecoin uses a delta-neutral algorithmic strategy to maintain its price of $1. It works by ensuring that the collateral is paired with an equivalent short position of a perpetual contract.<\/p>\n

If the USDe falls below $1, arbitrageurs can profit by minting or redeeming USDe, pushing it back to $1. The sUSDe then generates yield by a combination of staking rewards and funding rate from the delta-neutral strategy.\u00a0<\/p>\n

The ENA price is also rising as whales continue to buy. Nansen<\/a> <\/strong>data shows that whales hold 43.6 million ENA tokens, a 14.6% increase over the last 30 days, while the exchange balances have fallen to 7.27 billion.\u00a0<\/p>\n

Ethena price analysis<\/h2>\n
<\/source><\/p>\n<\/picture>
ENA price chart | Source: crypto.news<\/figcaption><\/figure>\n

The daily chart indicates that the ENA price has experienced a strong recovery over the past few days. It crossed the important resistance level at $0.4615, the highest swing on May 14, confirming that bulls are in control.<\/p>\n

Ethena\u2019s price is now targeting a move above the 23.6% retracement level at $0.4841. Its 50-day and 100-day Exponential Moving Averages are also nearing their crossover.\u00a0<\/p>\n

Therefore, the token is likely to continue rising as bulls target the 50% retracement level at $0.7758, which is approximately 70% above the current level.\u00a0<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ethena price jumped for six consecutive days, reaching its highest level since March as inflows into the ecosystem and whale accumulation continued. Ethena (ENA) token soared to a high of…<\/p>\n","protected":false},"author":1,"featured_media":5217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5216"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5216\/revisions"}],"predecessor-version":[{"id":5218,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5216\/revisions\/5218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5217"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}