CandleFocus

Whales pile into ENA as token rallies over 96% in 30 days

Author: Content Editor
ENA, the native token of the Ethena ecosystem, has experienced significant growth in the past month, with a surge of 96.6% in value. This rise can be attributed to various factors, including the integration of Ethereal, a decentralized exchange, into the Ethena reserve management system. The project has also received backing from major players like BlackRock and Securitize for its stablecoin, UStb. Whale activity has also played a role in driving up ENA's price, with large holders accumulating millions of tokens. Despite a recent slight pullback in price, analysts expect ENA to continue its upward trajectory, with the token potentially rallying another 150% in the near term. The growth in ENA's price has led to an increase in the number of token holders in profit, which could attract further investment.

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