- Ethena price jumped 44% after launching Liquid Leverage on Aave.
- Anchorage Digital will issue USDtb under US law, boosting Ethena adoption.
- ENA technicals show bullish continuation, eyeing $1+ if wedge breakout confirms.
Ethena (ENA) surged more than 44% over the past week and 13% in the past 24 hours. With trading volume jumping over 60% to $1.46 billion, the token has now broken above a $4.28 billion market cap, trading at $0.6736.
According to CoinMarketCap, ENA remains 55% below its all-time high of $1.52, attempting a breakout from a massively bullish wedge amid integration with Aave.
Related: BitMEX’s Arthur Hayes Buys 2.16M ENA Tokens as Price Eyes New Highs
Here’s what’s fueling ENA’s surge: a new Aave integration
Ethena announced the integration of Liquid Leverage with Aave, one of DeFi’s most trusted money markets. Users can now deposit 50% sUSDe (staked USDe) and 50% USDe into Aave to unlock multiple reward layers.
Ethena’s synthetic dollar (USDe) holds its peg to the USD, while sUSDe earns yield. Combining these within Aave gives users access to:
- ~12% annualized promotional rewards
- Aave’s base lending yield
- sUSDe’s staking returns
Partnership with Anchorage
Last week, Ethena Labs announced a partnership with Anchorage Digital, the only federally chartered crypto bank in the US, to bring its USDtb stablecoin to domestic markets under full regulatory compliance.
The launch of USDtb within the framework of the newly enacted GENIUS Act marked a significant milestone with Ethena being one of the few projects with a path to regulatory approval for institutional-grade stablecoins.
ENA Price Analysis: What’s Next?
ENA is showing signs of strong bullish momentum on the daily chart with rising wedge formation. The cryptocurrency has recently pushed past the $0.60 resistance zone and is now approaching the psychological barrier of $0.72—the upper boundary of the wedge.
Related: Is Ethena Set for a Breakout? Market Indicators Point Toward Next Bullish Leg
Momentum indicators support the bullish case for now. The MACD has recently completed a bullish crossover, and the histogram continues to rise, suggesting that buying pressure remains intact.
The Balance of Power indicator is at 0.73, reflecting dominant buyer strength, while price has broken above the upper Bollinger Band.
Should ENA sustain its position above $0.72, the next resistance lies near $0.88, followed by $1.05. On the downside, a failure to hold the $0.60 support could result in a retracement toward the $0.49–$0.50 region, which has served as a consolidation base in the past.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
