ENA (Ethena) fell 4.52% in 24 hours

Gate News Bot message, August 6, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently priced at $0.58, down 4.52% in the last 24 hours, with a high of $0.68 and a low of $0.51. The 24-hour trading volume reached $741 million. The current market capitalization is approximately $3.833 billion, a decrease of about $182 million compared to yesterday.

Important news about ENA recently:

1️⃣ A large number 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 suggest that some investors intend to sell, placing short-term pressure on the ENA price, and is one of the main factors contributing to the recent price fall.

2️⃣ The total locked value (TVL) of Ethena reached an all-time high

The total locked volume of Ethena has surged by 50% in the past 30 days, reaching a historic high of 8.5 billion USD. 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 has launched a 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 usage rate.

From a technical perspective, the ENA price has experienced significant fluctuations over the past few days. Although there was a 16.59% increase on August 4, a pullback occurred subsequently. The current price is in the middle of the recent fluctuation range, and investors should closely monitor price movements and volume changes, remaining alert to potential further volatility in the short term.

This message is not intended as investment advice, and investors should be aware of market volatility risks.

ENA-2.75%
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