The address holds 18.84 million ENA. A price of $0.2607 was cited for the position, while ENA rose 56% over the past month.
The address established a position of 18.84 million ENA, while the token gained 56% over the past month.
The protocol is expanding into tokenized U.S. stocks while ending ENA issuance tied to USDe growth and accelerating remaining investor allocations.
ENA traded at $0.2717 at 7:02 p.m. ET on Sept.
An Ethena whale purchased 18.34 million ENA worth $5.13 million.
Ethena has selected Binance for USDe's first tokenized-equity basis trades, pairing bStocks collateral with USDT-denominated equity perpetual shorts.
The crypto industry loves a good narrative, and few narratives sound more appealing than financial inclusion. Supporters argue that Ethena and Etherfi represent a new generation of financial applications capable of delivering savings, yield, and payments to users who have long been underserved by traditional banking. On the surface, the idea is compelling.
Will USDe and ENA growth explode as RWA perps basis trade for yield backing kicks off?
Address 0xd0A4 withdrew 18.34 million ENA from Gate, Bybit, OKX and Binance.
The withdrawals involved Gate, Bybit, OKX and Binance, with the tokens valued at about $5.13 million.
ENA rallied 25% as Ethena expanded with Binance, leaving $0.30 as the crucial breakout test.
Incentives tied to USDe growth have fallen about 85% since the protocol's first airdrop in 2024.