Ethena (ENA) Daily Market Analysis 18 February 2026

Ethena shows mixed signals with price gains but TVL concerns – here's the latest: • ENA price at $0.12, up 4.90% over 7 days, outperforming the broader market • USDe stablecoin launched on Sui (12 February 2026) and protocol fee switch awaits final approval • TVL has dropped over 55% from its October peak, now at $6.63 billion • Notable whale activity includes Arthur Hayes receiving 4.85 million ENA from Galaxy Digital