While the rest of the crypto world groans under the weight of despair, Ethena’s ENA, fueled by some mysterious on-chain alchemy, is soaring like a drunken seagull 🦜. In just a few hours, Ethena’s (ENA) price on spot exchanges leapt from $0.41 to $0.47-because nothing says “hope” like a 14% jump in a market that’s basically a graveyard 🕯️.
Ethena (ENA) outperforms all top 100 cryptos, here is why
Ethena (ENA), the core native cryptocurrency asset of an on-chain stablecoin protocol, is the best performer across all top 100 cryptocurrencies today. While the market benchmark is only up by 1.77%, ENA’s price added almost 9% in 24 hours. A miracle? Or just the crypto gods playing favorites? 🤷♂️💸
Today in the early morning hours, the price of Ethena (ENA) peaked at $0.47, while the capitalization of the asset reached $3.35 billion. ENA is now the 32nd largest crypto by market cap. Because nothing says “importance” like a number that makes you question your life choices 🧠.
The fact that crypto enthusiasts spotted that Ethena’s founder Guy Young purchased $25 million worth of ENA on the open market might be behind the upsurge of ENA. Or maybe he just needed a new hobby. 🎯
Also, Andrew Kang, a cryptocurrency entrepreneur and investor, co-founder of top VC firm Mechanism Capital, still has his ENA long opened. Because nothing says “confidence” like betting on a coin that’s as stable as a drunk tightrope walker 🕺.
Combined, these factors are treated as bullish signals by the market. Or, as I like to call it, “the blind leading the blind with a compass made of glitter.” ✨
Ethena’s USDe cements itself as third biggest stablecoin
Together with Hyperliquid, Polymarket and EigenLayer, Ethena is among the most talked-about protocols of this crypto cycle. Because nothing says “buzzworthy” like a stablecoin that’s basically a financial version of a toddler’s tantrum 🍼.
The project offers its own stablecoin USDe as well as “white label” infrastructure for stablecoin development on third party platforms. Because who doesn’t want to build their own stablecoin? It’s like building a sandcastle, but with more debt. 🏗️
USDe is the largest stablecoin alongside the USDT/USDC duopoly. Its capitalization exceeds $12 billion, while its closest competitor DAI sits at $5 billion. Because nothing says “dominance” like being the third wheel in a two-car garage. 🚗💨
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2025-10-18 17:26