- Binance listed Ethena’s USDe, boosting demand for ENA.
- Arthur Hayes has predicted ENA could reach $1.50 on buybacks.
- ENA up 9% in 24 hours with a 131% spike in volume.
Ethena’s governance token, ENA, is ripping higher after Binance confirmed it will list Ethena USDe (USDe), the protocol’s synthetic dollar.
The move immediately caught the eye of BitMEX co-founder Arthur Hayes, who suggested the listing could kickstart a massive $500 million buyback engine for the ENA token.
Related: Hyperliquid Hits $3.4B Spot Volume as Arthur Hayes Predicts 126x HYPE Price Surge
Why is the USDe Listing on Binance a Game-Changer?
According to Binance, trading pairs for USDE/USDC and USDE/USDT went live on September 9, 2025, with withdrawals set to open on September 10.
The exchange noted that Ethena’s USDe has already grown into the largest non-fiat-backed dollar asset in the market, with over $12 billion in circulating supply.
Hayes’s bullish case is built on this listing creating a powerful feedback loop; as USDe adoption on Binance grows, it generates more fees for the Ethena protocol, which in turn are used to buy ENA off the open market. This revenue-to-buyback engine is why he posted a chart pointing to $1.50 as his target price.
Key Price Levels to Watch for ENA
At the time of writing, ENA trades at $0.8347, up 9% in the last 24 hours, with trading volume surging 131%.
Short-term price action on the 5-minute chart shows a strong breakout rally from the $0.75 support area, with momentum accelerating above $0.80, as pointed out by Hayes.
The setup on the daily chart looks even stronger. The technicals are lining up to support the bull case, with ENA currently testing resistance near $0.84 at the top of a symmetrical triangle. Tightening Bollinger Bands signal a big move is imminent.
The RSI at 64.5 shows strong momentum but isn’t overbought yet, and a bullish MACD crossover confirms the trend. Crucially, the climbing OBV (On-Balance Volume) suggests smart money is accumulating during this consolidation.
If ENA can break convincingly above $0.85 and hold, the next resistance zone lies around $1, with Hayes’ $1.50 call marking the longer-term bullish target.
On the downside, failure to sustain momentum could see ENA retest support at $0.75, followed by stronger demand near $0.69, which coincides with the lower Bollinger Band.
Related: Arthur Hayes Predicts ENA 51x, ETHFI 34x, HYPE 126x by 2028; Backs Codex as First Crypto Bank
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