Ethena soars 20%: Here’s why ENA is rising and how high it can go

• Ethena (ENA) jumped nearly 20% after the Coinbase open-market token purchase news.
• Anchorage deal expands Ethena into institutional lending markets.
• The next key resistance level sits at around $0.1367.

Ethena’s ENA token has recorded a sharp intraday jump of about 19.5%, pushing the price to roughly $0.1025 at press time.

The sudden rebound has brought Ethena back into focus, especially as trading activity surged to more than $410 million in 24-hour volume, signalling a clear spike in market participation.

While the broader trend remains down over longer timeframes, the short-term price action reflects a strong shift in sentiment tied to recent ecosystem developments.

Coinbase Ventures’ investment in Ethena

A major driver behind the latest rally is Ethena’s deepening relationship with Coinbase.

Coinbase Ventures made its first-ever investment in Ethena by purchasing ENA directly on the open market, a move that immediately stood out to traders because it signalled direct alignment rather than a private funding allocation.

Coinbase Ventures is proud to back Read Entire Article