Ethena’s ENA token extended its recovery as whale accumulation increased and exchange reserves dropped to multi-month lows, signaling renewed confidence following recent USDe stabilization.
Ethena’s ENA token price rose for two consecutive days amid increased whale accumulation and declining exchange balances, reaching multi-month lows. The movement follows the recent stabilization of Ethena’s USDe stablecoin after a brief peg deviation. The rebound indicates sustained investor confidence and reduced selling pressure within the Ethena ecosystem.