$ENA / Ethena Protocol Update

🔹 Live price & market data: ENA is currently trading around ~$0.20 with solid trading volume and liquidity on major exchanges.

🔹 What it is: ENA is the governance token for the decentralized finance protocol Ethena, which issues a synthetic dollar stablecoin called USDe using delta‑neutral crypto hedging strategies.

🔹 Recent catalysts:

• ENA has seen periodic price surges tied to inflows into USDe and funding rate boosts.

• The token rallied after listings and potential revenue distribution mechanisms (“fee switch”) got attention from traders.

🔹 Ecosystem growth: Ethena’s TVL and stablecoin demand have been rising, showing growing utility for the protocol in DeFi.

🔹 Outlook: ENA is driven by protocol adoption, stablecoin demand, governance participation, and broader market conditions. As a DeFi governance token, it can be volatile—so trade with risk management.