ENA (Ethena) rose 2.54% in the last 24 hours.

Gate News Bot news, on August 13, according to CoinMarketCap data, ENA (Ethena) is currently priced at 0.83 USD, with a 2.54% rise in the last 24 hours, reaching a high of 0.84 USD and a low of 0.56 USD. The current market capitalization is approximately 5.464 billion USD, an increase of 135 million USD compared to yesterday.

Ethena is a dollar stablecoin platform focused on the digital internet economy. Its main product, USDe, has issued over $11.88 billion, and users can earn an annual yield of 5% through staking. Ethena also offers the USDtb stablecoin, with a current supply of $1.46 billion. The platform serves over 765,000 users across 24 blockchains. Ethena emphasizes transparency by providing real-time asset support information, weekly reserve proofs, and monthly custodian proofs. Its protocol has a support rate of 100.84%, maintaining minting and redemption functions 24/7.

Recent important news about ENA:

1️⃣ Ethena has become the sixth DeFi protocol to surpass 10 billion USD in TVL.

Ethena has become the sixth DeFi protocol to surpass a total locked value (TVL) of $10 billion, and the second non-staking DeFi protocol to reach this milestone after Aave. Currently, Ethena's TVL has reached $11.893 billion, and the annualized yield (APY) for sUSDe is 4.72%. This significant milestone highlights Ethena's rapid rise and market recognition in the DeFi space.

2️⃣ Notable investor Arthur Hayes may purchase ENA

Famous cryptocurrency investor Arthur Hayes recently received 10 ENA as a test, which may indicate that he is about to start a large-scale purchase of the token. Hayes has invested a total of $9.514 million in a bundle of tokens over the past 24 hours, with Ethereum (ETH) accounting for the highest proportion at 78%. The increased interest from top investors in ENA may bring positive impact on its future price trend.

3️⃣ Institutional investors actively adjust their ENA holdings.

Multiple Ethena institutional investor addresses transferred a total of 40.217 million ENA to the exchange in the past 12 hours, valued at approximately $29.8 million. The institutions involved in this transfer include well-known investment firms such as Strobe Ventures and Amber Group. This large-scale capital flow indicates that institutional investors are actively adjusting their ENA holding strategies, which may cause some fluctuations in the short-term market.

From a technical perspective, the price of ENA has experienced significant fluctuations in the past few days. While the large-scale capital transfer by institutional investors may bring short-term pressure, the potential entry of well-known investors and the achievement of important milestones by the project may provide support for the price of ENA. Investors should closely monitor price trends and changes in trading volume, remaining alert to potential further fluctuations in the short term.

This message is not intended as investment advice, and investors should be aware of market volatility risks.