ENA (Ethena) up 12.62% in 24 hours, with a market cap close to $2 billion

Gate News Bot Message, January 14th, according to CoinMarketCap data, as of press time, ENA (Ethena) is currently priced at $0.25, up 12.62% in the past 24 hours, with a high of $0.25 and a low of $0.21. The 24-hour trading volume reached $320 million. The current market capitalization is approximately $1.978 billion, ranked 43rd, an increase of $222 million compared to yesterday.

Ethena is a digital dollar solution aimed at the internet economy, offering the stablecoin USDe and yield-bearing asset sUSDe. Currently, the USDe supply is 640 million, with an APY of 5.1%, and an average historical APY of 13%. The platform covers 24 blockchains, with over 896,000 users. The USDtb supply is $852 million, with over 100% protocol support ratio and nearly 100% mint/redeem availability. Ethena is deeply integrated with multiple major exchanges and DeFi protocols such as Aave, Morpho, Pendle, supporting users to earn yields across various platforms. The platform commits to providing weekly independent third-party reserve proofs and monthly custodian attestations to ensure asset transparency and security.

ENA Recent Important News:

1️⃣ Safe and Ethena Strategic Partnership to Promote Institutional USDe Applications
The Safe Foundation and Ethena Labs have formed a strategic partnership to promote the widespread use of USDe in self-custody wallet ecosystems. According to the agreement, transactions of USDe on the Ethereum mainnet will reduce or even eliminate Gas costs, and USDe stored in Safe multi-signature wallets will receive 10x points under the Ethena rewards program. This cooperation is seen as a significant signal of the migration of stablecoin economies from centralized custody to smart accounts, helping to enhance long-term yield expectations for institutional users and significantly reduce operational costs.

2️⃣ Institutional Funds Actively Deploy USDe Yield Products
Over $6.6 billion in stablecoins are currently managed within the Safe ecosystem, with approximately 85% being sUSDe (the staked yield version of USDe), totaling $65.1 million. This data indicates that DAOs and protocol partners view USDe as a core asset management tool, and institutional demand for Ethena products has been fully validated within the Safe ecosystem, reflecting strong market demand for high-yield stablecoin solutions.

3️⃣ Large ENA Liquidity Active, Market Participants Adjust Positions Significantly
Recently, large ENA transfers have been frequent, including approximately 21.87 million ENA transferred from Anchorage Digital to anonymous addresses, 8.15 million ENA transferred to Flowdesk, and 15.54 million ENA transferred out from FalconX, totaling over 45.5 million ENA. These liquidity movements indicate active position adjustments by market makers and large holders, possibly related to Ethena ecosystem expansion expectations and shifts in market sentiment.

This message is not investment advice; please be aware of market volatility risks.