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Top Reasons Why Ethena Price is Rising Today—Will it Reach $1 in 2025?
The Ethena (ENA) price has recently witnessed a strong price surge, fueled by multiple bullish catalysts. Key drivers include its high-profile listing on South Korea’s Upbit exchange, growing institutional adoption via Coinbase integration, and impressive protocol revenue milestones. These developments have significantly boosted investor confidence, leading to a sharp uptick in trading volume and price action. With over $290 million in revenue and a solid burn mechanism in place, ENA is gaining momentum, reinforcing its position as a rising force in the DeFi space.
Here are the top reasons why the ENA price is rising:
Listing on Upbit has emerged as the major catalyst of the current rally, as prices jump by over 20% following a massive rise in trading volume.
Ethena Labs announced the integration of USDe hedging via Coinbase International using ClearLoop. These partnerships could broaden institutional access, reinforcing confidence in the protocol.
The platform has surpassed $290 million in protocol revenue, making it the second-fastest to reach $100 million.
Besides these reasons, here are the top reasons why the ENA price may continue to rise:
Upcoming Token Unlocks: Token distributions may create short-term sell pressure
Resistance appears to be pretty strong, and hence, a breakout beyond the range could help the price achieve higher targets.
Sustainability of yield model: If future funding rates compress further, USDe yield attractiveness could wane, impacting long-term economics
Source: coinpedia.org
