ENA Price News: Ethena Whales Load Up as Revenues Blast Past $500 Million

• Ethena’s TVL surged past $11B as whales heavily accumulated tokens.
• Protocol revenues crossed $500M, with $13.4M earned just last week.
• ENA holds $0.65 support, aiming for $0.85 and $1 resistance.

Ethena (ENA) is holding near a critical $0.65 support zone. According to experts, if this support holds, ENA could quickly bounce toward $1, an important resistance level. A breakout above that zone might even set the stage for a sharp rally into the $2–$5 range in the longer term.

Surging Demand and Investor Confidence

Ethena’s ecosystem has been expanding lately. Its total value locked (TVL) now sits above $11 billion, up more than 50% in just one month. At the same time, whales appear to be backing the project in a big way. 

Analyst Ali Martinez reported that over 1 billion ENA tokens were scooped up by large investors, while 140 million ENA were withdrawn from exchanges in just the past four days, a strong sign that many holders are looking long term.

The protocol’s revenues are also growing fast. Ethena recently announced that it has crossed $500 million in cumulative gross interest revenue, with $13.4 million earned in the …

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