JiyaJan
07/25 14:51
Why is Ethena up 20% today? Ethena has been ripp
Why is Ethena up 20% today?
Ethena has been ripping higher all day, continuing its weeks-long climb as fresh capital pours in from whales and institutions.
Summary
- ENA is up 22% in 24 hours, trading around $0.5847.
- Whales are doubling down on the token.
- Ethena TVL has climbed above $7.19B, per DeFi Llama.
Trading around $0.5847 at press time, ENA (ENA) is up roughly 22% over the past 24 hours. The double-digit surge brings its weekly gain to about 45%, and it’s now up 118% over the past month.
Daily trading volume has jumped 58%, according to CoinGecko, positioning the token as the day’s top performer by
The uptick in price comes as whale accumulation ramps up. Per Lookonchain data, former CEO Arthur Hayes bought approximately 2.16 million ENA earlier today, worth around $1.03 million, across various platforms.
Hayes’ current ENA position stands at 7.76 million tokens, valued at about $3.73 million, adding to the broader major accumulation trend among large holders.
But beyond the large-scale investments, another key driver of Ethena’s gains is fresh institutional momentum....
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