ENA (Ethena) has risen 16.59% in the last 24 hours.

Gate News Bot news, August 4th, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently priced at $0.62, with a rise of 16.59% in the last 24 hours, reaching a high of $0.70 and a low of $0.51. The current market capitalization is approximately $3.916 billion, an increase of $557 million compared to yesterday, ranking 31st.

Ethena is a platform focused on providing digital dollars for the internet economy. Its main product, USDe, is a stablecoin pegged to the US dollar, with a current supply of $9.29 billion. Users can earn sUSDe by staking USDe, and the annualized yield for sUSDe is 11%. Ethena also offers highly transparent asset backing, including real-time asset allocation information, weekly reserve proofs, and monthly custodian certifications. The platform supports 24 blockchains and has 756,000 users.

Important news about ENA recently:

1️⃣ The overall recovery of the crypto market drives the rise in ENA prices Bitcoin price surpassed $114,000, and Ethereum broke through $3,500, driving a recovery in the entire cryptocurrency market. As a top-ranked token by market capitalization, ENA benefited from the overall positive trend in the market, with a rise of 17% within 24 hours, outperforming most other crypto assets.

2️⃣ Ethena's Total Value Locked (TVL) Hits All-Time High The total locked value of Ethena surged by 50% in the past 30 days, breaking its historical high to reach $8.5 billion. This growth rate has set the record for the fastest growth in the project's history, demonstrating strong market confidence in the Ethena project and providing strong support for the ENA price.

3️⃣ Ethena Labs launches new liquidity leverage feature Ethena Labs has launched a new Liquid Leverage feature on the Aave platform. This feature allows users to deposit 50% sUSDe and 50% USDe, earning approximately 12% annual percentage yield (APY) rewards. This innovative initiative is expected to attract more users, further enhancing the project's liquidity and usage, thereby driving the rise of ENA prices.

From a technical perspective, the ENA price has broken through previous resistance levels in the past 24 hours, showing strong rising momentum. However, considering that ENA experienced a decline of 9.39% on August 3, investors should remain vigilant about the potential for a short-term pullback risk.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.