Binance Lists Ethena’s USDe, Sparking Massive Surge in ENA Token Price

• Binance listing fuels ENA token surge, massive buyback engine predicted.
• USDe’s success on Binance sparks optimism for ENA price breakout.
• Arthur Hayes forecasts $500 million ENA buyback after Binance listing.

Ethena’s governance token, ENA, has experienced a significant surge following Binance’s confirmation that it will list Ethena’s synthetic dollar, USDe. This move has ignited excitement in the crypto community, with industry experts, including BitMEX co-founder Arthur Hayes, predicting a massive $500 million buyback engine for ENA.

The listing marks a pivotal moment for both USDe and ENA as investors anticipate substantial growth in the token’s value.

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USDe’s Binance Listing Triggers Bullish Momentum for ENA

As of September 9, 2025, Binance has officially launched the USDe/USDC and USDe/USDT trading pairs. Withdrawals are set to open on September 10. Based on Binance, USDe has already expanded to be the biggest non-fiat-backed dollar asset with more than $12 billion of the circulating supply.

The exposure and liquidity of Binance would greatly expand the growth of the protocol. As a larger number of users switch to USDe, the ensuing transactional costs will be used to buy ENA tokens on the open market, which will trigger a bull cycle. Hayes identified this buyback mechanism as one of the reasons that pushed the price of ENA up.

Technical Indicators Show ENA on the Verge of Big Breakout

At the time of writing, ENA is trading at $0.8347, up by 9% in the last 24 hours and with a 131% increase in trading volume. The short-term technicals indicate a decisive breakout of the support level of $0.75, and the momentum picks up at the level of $0.80.

ENA is also testing resistance at $0.84 in an equal triangle on the daily chart. The narrowing Bollinger Bands indicate a significant price adjustment is on the way.

In addition, the Relative Strength Index (RSI) stands at 64.5, which reflects healthy momentum. The positive MACD crossover is a sign of a continuation of the uptrend. On-Balance Volume (OBV) continues to go up, indicating that smart money is stockpiling ENA within the current consolidation period.

What’s Next for ENA?

If ENA can break above the $0.85 level and sustain momentum, the next resistance zone could be at $1, with a longer-term bullish target of $1.50, as predicted by Hayes. On the negative side, in case the rally meets a downturn, resistance at $0.75 and $0.69 would be vital levels to observe. With the improving technicals and the increasing use of USDe in Binance, ENA may be ready to rise even more in the near future.

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