ENA (Ethena) rose 3.13% in the last 24 hours.

Gate News Bot message, on October 20, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently reported at $0.47, with a rise of 3.13% in the last 24 hours, reaching a high of $0.51 and a low of $0.38. The 24-hour volume reached $484 million. The current market capitalization is approximately $3.371 billion, an increase of $102 million compared to yesterday.

Important recent news about ENA:

1️⃣ Large-scale long and short operations attract market attention A newly created wallet address has withdrawn 3 million USDC from the exchange in the past two days, and then opened a long position of total value 41 million USD on the Hyperliquid platform with ENA, while shorting 20 million USD of ETH and 22 million USD of BTC. This large-scale hedging operation indicates that institutional investors are optimistic about ENA's short-term performance, which could become an important factor driving the rise in ENA's price.

2️⃣ Ethena Whitelabel launched on Conduit Ethena Labs announced that its stablecoin as a service stack, Ethena Whitelabel, has been launched with the stablecoin cross-border payment service provider Conduit. This integration allows chains built using Conduit to access the Ethena infrastructure and create their own stablecoin at deployment. This development expands the coverage of Ethena's ecosystem and is expected to bring more application scenarios and value rise for ENA.

3️⃣ USDtb smart contract transferred to Anchorage Digital Ethena Labs has transferred the USDtb smart contract to Anchorage Digital, making USDtb the first federally regulated stablecoin issued in compliance with the GENIUS Act framework. This milestone initiative demonstrates Ethena's proactive progress in compliance, helping to enhance investor confidence and attract more institutional participation.

From a technical perspective, ENA has rebounded after a significant decline in the previous period, with a 24-hour rise of over 3%, indicating that market sentiment is gradually improving. However, considering the recent volatility, investors still need to closely monitor the subsequent developments of ENA and its related stablecoin projects.

This message does not constitute investment advice; investors should be aware of market volatility risks.