Ethena’s ENA Soars 16% on Golden Cross, Signaling Renewed Bullish Momentum

Ethena’s token, ENA, experienced a significant surge of 16%, reaching $0.85 after exhibiting a golden cross pattern. This bullish indicator mirrors similar setups in 2024, bolstering investor confidence in the company’s reserves and driving further gains. USDe’s circulating supply recently surpassed $10 billion in just 500 days, exceeding initial expectations and solidifying Ethena’s market position. The recent Ethereum price rally above $4,000 has also contributed to ENA’s upward trajectory, increasing the value of its ETH-backed reserves and enhancing investor confidence in USDe’s stability.