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- Ethena earnings hit record $7.43M, fueling investor confidence.
- ENA holders reach 76,440 as inflows climb for four straight weeks.
- Bullish chart setup points to a potential rally toward $1.
Ethena (ENA) has continued to impress investors, recording four consecutive weeks of inflows that have boosted sentiment around the token. With a 15% increase in liquidity and strong on-chain metrics, ENA is increasingly being viewed as an undervalued asset with room for further upside.
Earnings Rebound Sparks Investor Interest
According to DeFiLlama, Ethena Labs’ earnings surged to an all-time high of $7.43 million, marking a sharp recovery from the $1.15 million low in Q2. This rebound reflects the growing adoption of Ethena’s synthetic dollar utility and renewed investor confidence. Notably, one major investor rotated out of PEPE, acquiring $1.29 million in ENA, bringing their total holdings to $10 million.
CoinMarketCap data also highlighted a surge in retail participation, with the number of ENA holders climbing to a record 76,440. Meanwhile, market capitalization has grown to $4.33 billion, signaling increased confidence in ENA’s growth prospects.
Long-Term Conviction Strengthens
Spot market activity further supports ENA’s long-term outlook. Over the past two weeks, investors accumulated more than $50 million worth of ENA, with most funds transferred to private wallets, indicating strong holding sentiment. CoinGlass data confirms this accumulation trend has been consistent since mid-August.
At the same time, total value locked (TVL) in Ethena has reached a record $12.66 billion, underscoring broader adoption and capital commitment to the protocol.
Bullish Technical Setup in Play
Chart analysis by AMBCrypto shows ENA forming a bullish flag pattern, with the asset recently breaking out of consolidation. This suggests the token could rally to at least $0.88, with the potential to push toward the psychological $1 mark if liquidity inflows persist.
With strong inflows, record earnings, and rising long-term holding sentiment, Ethena (ENA) is solidifying its bullish position in the market. If current trends continue, ENA could be on the path to replicate past rallies and strengthen its reputation as one of the most resilient assets in the DeFi sector.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Ethena (ENA) Eyes $0.68 Breakout Amid $36M Revenue Surge
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