ENA (Ethena) rose 9.83% in the last 24 hours.

Gate News Bot message, July 10, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently priced at $0.29, having risen 9.83% in the last 24 hours, with a high of $0.29 and a low of $0.25. The current market capitalization is approximately $1.855 billion, an increase of $166 million compared to yesterday. Currently, ENA ranks 45th in global Crypto Assets market capitalization.

Ethena is a project focused on providing digital dollars for the internet economy. Its main product, USDe, offers global users instant access to dollar savings accounts. Ethena also provides a staking service called sUSDe, which currently has an average annual yield of 4%. The project emphasizes transparency, offering real-time support asset information, weekly reserve proofs, and monthly custodian certifications. Ethena has also partnered with the Ton blockchain to provide internet currency services for Telegram's user base.

Important news about ENA recently:

1️⃣ ENA will unlock a large number of coins.

According to the token unlocking plan, Ethena (ENA) will unlock approximately 266 million ENA tokens on July 2nd and 5th, worth about 25.06 million USD. This includes token allocations for ecosystem incentives, the foundation, core contributors, and investors. This large-scale unlocking may impact the market supply and price of ENA.

2️⃣ Binance removes ENA seed label

Binance will remove the seed label for Ethena (ENA) on July 9th. This indicates that the ENA project has reached a certain level of maturity and stability, which may enhance investor confidence and help attract more institutional investors' attention.

3️⃣ The USDf de-pegging event has raised concerns about synthetic stablecoins.

Recently, the USDf stablecoin experienced a brief decoupling, sparking discussions in the market about the design of synthetic stablecoins. As a pioneer in synthetic dollar projects, Ethena's USDe stablecoin design and reserve management may receive more attention and scrutiny, which could affect investors' attitudes towards ENA.

From a technical perspective, ENA has shown a rise trend recently, but the unlocking event may bring short-term fluctuations. On the fundamental side, the development of the Ethena project and changes in the stablecoin market will be key factors influencing the long-term trend of ENA.

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