ENA has gained greater than 16% within the earlier 24 hours.
Ethena’s complete worth locked tops $8B after a 50% month-to-month enhance.
Bullish sentiments across the undertaking gasoline the upside.
Whereas cryptocurrencies remained comparatively calm after the Fed maintained rates of interest, Ethena recorded spectacular surges over the previous 24 hours.
ENA climbed from $0.5444 to $0.6332 intraday excessive on the day by day chart.
The 16.31% uptick has grabbed consideration, particularly because the broad market reveals bearish sentiments.
The bullish outlook coincided with revelations that Ethena’s TVL (complete worth locked) elevated by 50% prior to now months to surpass the $8 billion milestone.
The metric has grown steadily since this month’s lows of $5.461 billion to $8.443 billion at this time, July 31.
For context, that’s greater than the whole worth locked of some established DeFi initiatives, together with BSC ($7.318B), Tron ($5.99B), and Base ($4.32B).
That displays an enormous development for the artificial greenback protocol, presumably boosted by the current regulatory transformations within the USA.
What the $8 billion TVL means
Surpassing the $8 billion mark represents a key milestone.
Ethena’s TVL now ranks it amongst DeFi giants.
In the meantime, the determine exhibits a major quantity of capital entered the ENA ecosystem prior to now 30 days.
That underscores confidence from whales, establishments, and customers within the protocol’s long-term worth.
Additionally, the secure development displays the stickiness of ENA’s ecosystem.
Customers aren’t simply experimenting with merchandise. They’re staying and depositing.
With extra funds flowing into Ethena’s ecosystem, the undertaking will develop stronger.
That’s typically a bullish signal for holders and merchants.
Native tokens usually expertise appreciable positive aspects when the networks’ development outpaces the market common.
What propelled the expansion
Ethena has carved a singular area of interest as a consequence of its superior strategy to artificial greenback creation and yield methods.
Stablecoin regulatory readability after america signed the GENIUS invoice into legislation boosted USDe’s (the artificial greenback) attraction, fueling the protocol’s development.
USDe has witnessed elevated adoption within the DeFi sector, attracting platforms searching for stablecoin stability within the risky markets.
Furthermore, Ethena has attracted appreciable investments from business leaders like Arthur Hayes.
Strategic collaborations, together with with TON and Anchorage, expanded ENA’s utility and attain.
The TON alliance brings USDe to Telegram’s large consumer base of round one billion, whereas Anchorage Digital helps the USDtb stablecoin launch within the US.
Moreover, StablecoinX raised $360 million to put money into ENA, reflecting conviction in Ethena’s future.
StablecoinX Inc. @stablecoin_x has introduced a $360 million capital increase to buy $ENA and can search to listing its Class A typical shares on the Nasdaq International Market beneath the ticker image “USDE”, which features a $60 million contribution of ENA from the Ethena Basis… pic.twitter.com/sgfD8P9m05
— Ethena Labs (@ethena_labs) July 21, 2025
In decentralized finance, speedy TVL surges usually point out hovering consumer optimism, large deposits, and amplified on-chain exercise.
ENA value outlook
Ethena’s token hovers with a bullish bias at $0.6310.
Its 24-hour buying and selling quantity has jumped by a notable 270% to $1.27 billion, suggesting intensified consumer exercise.
ENA has gained over 130% prior to now 30 days and seems prepared for additional positive aspects amid ecosystem stability.
In the meantime, enhanced sentiments across the undertaking’s development stored the digital coin afloat over the previous 24 hours.
Whereas the present broad market outlook signifies short-lived positive aspects, Ethena’s sturdy TVL positions ENA for secure efficiency within the coming weeks and months.
