Crypto Underdog ENA Soars, Catching the Eye of BitMEX Co-Founder

• BitMEX Co-founder Arthur Hayes notes the surge of Ethereum-based ENA despite criticism.
• ENA Market cap reaches $1.39 billion, now ranked 68th on CoinMarketCap.
• ENA price surges after pullback, gains 48.65% in 10 days.

BitMEX co-founder Arthur Hayes has taken note of Ethena’s (ENA) recent performance, observing that the Ethereum-based synthetic dollar protocol is climbing up the ranks despite widespread criticism. Hayes cited a post by Guy Young, Athena Labs’ founder, who noted that the project has added nearly $450 million in USDe supply in the last 16 days

All you haters just keep watching $ENA climb up the rankings. Cope harder bitches. https://t.co/rwzQK83AIg

— Arthur Hayes (@CryptoHayes) May 25, 2024

Meanwhile, CoinMarketCap’s data shows that ENA has climbed to the 68th position among all 10,043 active cryptocurrencies listed on the leading aggregation platform. The data showed that ENA’s market cap rose by 0.25% in the last 24 hours, reaching an impressive $1.39 billion.

Additional details from CoinMarketCap show that ENA’s volume increased by over 10% in the past 24 hours and was over $314.5 million as of the time of writing. That value…

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