ENA (Ethena) has fallen 2.28% in the last 24 hours.

Gate News Bot news, on August 5th, according to CoinMarketCap, as of the time of writing, ENA (Ethena) is currently priced at $0.60, with a 2.28% fall in the last 24 hours, reaching a high of $0.68 and a low of $0.51. The current market capitalization is approximately $3.993 billion, a decrease of $93.3363 million compared to yesterday.

Ethena is a financial platform focused on providing digital dollars for the internet economy. Its main product, USDe, is a stablecoin pegged to the US dollar, and users can earn sUSDe by staking USDe, with an annual yield currently around 11%. Ethena offers highly transparent asset backing and reserve proof, and collaborates with multiple DeFi platforms and exchanges to provide users with diversified financial services.

Recent important news about ENA:

1️⃣ A large amount of ENA tokens deposited into the exchange In the past two weeks, 250 million ENA have been deposited into the exchange. This large-scale token transfer may indicate that some investors intend to sell, putting short-term pressure on the ENA price.

2️⃣ Ethena's Total Value Locked (TVL) hits an all-time high The total locked amount of Ethena has surged by 50% in the past 30 days, reaching a historic high of $8.5 billion. This growth rate has set a record for the fastest growth in the project's history, demonstrating strong market confidence in the Ethena project and providing long-term 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 to participate, further enhancing the project's liquidity and utilization.

From a technical perspective, the price of ENA has experienced significant fluctuations over the past few days. Although there was an increase of 16.59% on August 4, a pullback followed. Currently, the price is in the middle of the recent fluctuation range, and investors should closely monitor price trends and changes in trading volume, remaining vigilant for potential further volatility in the short term.

This message does not constitute investment advice. Investors should be aware of market volatility risks.