Ethena Token Soars After Coinbase Listing Confirmation

Despite a $12 million token unlock that could have triggered a sell-off, Ethena’s ENA token surged 8.6% thanks to Coinbase adding it to its listing roadmap. Strong trading volume and rising open interest suggest traders are betting big on ENA’s next move, eyeing potential gains towards $0.41. 40 million ENA tokens were unlocked just hours before the announcement, a move typically associated with selling pressure. However, ENA defied bearish expectations, defying market volatility and surging upwards instead.