Ethena’s USDe Stablecoin: Revolutionizing Decentralized Hedging

ENA, the native token of Ethena, has surged to $0.7690, reaching a market capitalization of $5.09 billion, and experiencing a 4.66% daily increase. This rise is attributed to the innovative USDe stablecoin, offering decentralized hedging without relying on traditional banking. The price is consolidating near key resistance at $0.80 after a recent rebound from mid-year lows. Technical indicators show continued bullish momentum with a favorable market cap-to-TVL ratio and an upward channel over the past two weeks.