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> 🚀 Big news on the #Ethena front — the ENA token just surged 13–14% to around $0.62, fueled by explosive trading volume ahead of a large $100M+ token unlock event! 🔓 [Aug 5, 2025]
The protocol’s synthetic dollar, USDe, has now climbed to become the 3rd largest stablecoin on Ethereum, with a supply rise of $9.4B) are helping build strong on-chain traction.
But be cautious — 250M ENA tokens moved to exchanges recently, including a major sell-off by former Bitmex CEO Arthur Hayes. That poses near-term volatility risk even as momentum builds.
**📊 Key Levels to Watch**: ‣ Support: $0.55–$0.56 range ‣ Resistance: ~$0.62 (must flip to support) ‣ Upside Potential: $0.70 → $0.84–$0.98
With the unlock happening Aug 5–6, market behavior in the next few days will shape if ENA’s rally holds.
Thoughts—bounce ahead to $0.70+ or consolidate into support zones?
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