Ethena (ENA) has experienced notable growth in the cryptocurrency market, recording a 150% increase over the past 30 days and rising by 40% during the previous week.

The explosive growth coincides with the protocol’s Total Value Locked (TVL) surpassing $10 billion for the first time, driven by surging adoption of its synthetic dollar, USDe, which recently became the world’s third-largest stablecoin by market cap.

Daily $5 million ENA buybacks are tightening supply, while whale addresses holding 100k–1M ENA have grown 12% in July, now controlling nearly 30% of circulating tokens.

Ethena (ENA)’s Golden Cross Signals Strong Bullish Momentum

Technically, ENA’s breakout has been supported by a golden cross, the 50-day Exponential Moving Average crossing above the 200-day EMA, a classic bull

See Full Page