{"id":8521,"date":"2025-08-22T07:18:05","date_gmt":"2025-08-22T07:18:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethena-price-tests-0-65-support-as-revenue-hits-500m-and-exchange-outflows-climb\/"},"modified":"2025-08-22T07:18:14","modified_gmt":"2025-08-22T07:18:14","slug":"ethena-price-tests-0-65-support-as-revenue-hits-500m-and-exchange-outflows-climb","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethena-price-tests-0-65-support-as-revenue-hits-500m-and-exchange-outflows-climb\/","title":{"rendered":"Ethena price tests $0.65 support as revenue hits $500M and exchange outflows climb"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethena price is testing a critical $0.65 support zone as strong on-chain fundamentals clash with fading short-term momentum.<\/p>\n<div id=\"cn-block-summary-block_c4896c17bfc8af824f473e0f56741c26\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethena reports $500 million in cumulative gross interest revenue as USDe supply hits record $11.7 billion.<\/li>\n<li>ENA faces 10% weekly decline but strong exchange outflows hint at accumulation.<\/li>\n<li>Technical outlook mixed as ENA tests $0.65 support zone.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Ethena (ENA) price stood at $0.6601 at the time of writing, down 10% on the week but holding flat on the day. Despite the pullback, ENA remains up 32% over the past month, reflecting resilience against broader market swings.\u00a0<\/p>\n<p>Derivatives have also seen a decline in activity. CoinGlass <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/ENA\" target=\"_blank\">data<\/a> shows that ENA\u2019s open interest fell by slightly more than 3% to $1.26 billion, while its derivatives trading volume decreased by nearly 27% to $1.48 billion over the last day.<\/p>\n<p>This implies less speculative positioning, which is often an indication that traders are de-risking and holding off on reentering the market until a trend is clearer.<\/p>\n<h2 class=\"wp-block-heading\">Ethena crosses $500M revenue as USDe supply hits record high<\/h2>\n<p>Ethena <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ethena_labs\/status\/1958484780959584312?s=46&amp;t=nznXkss3debX8JIhNzHmzw\" target=\"_blank\">reported<\/a> on Aug. 21 via X that it has surpassed $500 million in cumulative gross interest revenue. In the past week alone, the protocol generated $13.4 million in revenue, while Ethena USDE (USDe) mints rose by 670 million, pushing supply to a new all-time high of $11.7 billion. Yields remain strong, with sUSDe APY hovering around 9%.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today Ethena has crossed $500m in cumulative gross interest revenue<\/p>\n<p>Over the last week:<br \/>\u2192 Protocol weekly revenue: $13.4m<br \/>\u2192 USDe mints: +670m<br \/>\u2192 USDe supply ATH: $11.7bn<br \/>\u2192 sUSDe APY: ~9% <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/ccfUBFHSLY\">pic.twitter.com\/ccfUBFHSLY<\/a><\/p>\n<p>\u2014 Ethena Labs (@ethena_labs) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ethena_labs\/status\/1958484780959584312?ref_src=twsrc%5Etfw\" target=\"_blank\">August 21, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>According to DefiLlama <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/protocol\/ethena?usdInflows=true&amp;tvl=false&amp;groupBy=monthly\" target=\"_blank\">data<\/a>, the protocol\u2019s total value locked has almost doubled in recent weeks, from about $5.5 billion in July to $11.9 billion as of press time. USD inflows have also increased, with $2.9 billion entering in July and more than $3.5 billion already recorded this month, as of of Aug. 22.<\/p>\n<p>Meanwhile, investor behavior in ENA markets appears to be changing. 140 million ENA tokens have been removed from exchanges in the last four days, as per an Aug.22 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ali_charts\/status\/1958695868087116191?s=46&amp;t=nznXkss3debX8JIhNzHmzw\" target=\"_blank\">post<\/a> on X by analyst Ali Martinez. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">140 million Ethena <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$ENA<\/a> withdrawn from exchanges in the last 96 hours! <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/hGaO0ESDT0\">pic.twitter.com\/hGaO0ESDT0<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ali_charts\/status\/1958695868087116191?ref_src=twsrc%5Etfw\" target=\"_blank\">August 22, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>This move is often seen as an indication that holders are moving their holdings to long-term storage rather than getting ready to sell. If maintained, this pattern can reduce immediate sell pressure and improve price stability.<\/p>\n<h2 class=\"wp-block-heading\">Ethena technical analysis<\/h2>\n<p>On the daily chart, Ethena is positioned around a crucial test at the $0.65 support level. The narrowing Bollinger Bands indicate compressing volatility and a possible breakout, while the token\u2019s position close to the lower band indicates short-term oversold conditions and the possibility of a rebound if buyers step in.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Ethena daily chart. Credit: crypto.news<\/figcaption><\/figure>\n<p>Momentum indicators draw attention to uncertainty. While the MACD has turned negative, suggesting waning bullish momentum, the relative strength index is at 51, indicating neutrality. The 10- and 20-day EMAs are leaning bearish, pointing to impending pressure. Longer-term supports, like the 50- and 100-day averages, are still in place, though, suggesting that ENA is still on an uptrend.<\/p>\n<p>ENA may move toward $0.70 if it recovers above $0.65, and bullish prospects would be strengthened if it broke above $0.74. However, if support is not maintained, there is little protection against a decline to $0.62, the lower limit of its recent range.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethena price is testing a critical $0.65 support zone as strong on-chain fundamentals clash with fading short-term momentum. Summary Ethena reports $500 million in cumulative gross interest revenue as USDe&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8521","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\/8521","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=8521"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8521\/revisions"}],"predecessor-version":[{"id":8522,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8521\/revisions\/8522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1672"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=8521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=8521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=8521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}