Ethena (ENA) single day big pump 15%! USD supply increased by 75% this month, entering the top three stablecoins | ENA price prediction

The native token ENA of the synthetic dollar protocol Ethena based on Ethereum surged 15% within 24 hours, now reported above 0.61 USD. Its stablecoin USDe's on-chain supply has surged by 75% over the past month to reach 9.3 billion USD, surpassing FDUSD to become the third largest stablecoin by market capitalization, only behind USDT and USDC. The protocol's TVL has exceeded 9.47 billion USD, ranking sixth in DeFi, with funds inflow in July skyrocketing 62 times to 2.96 billion USD. Despite facing the unlocking of 101.87 million ENA tokens this week (valued at over 100 million USD), whale addresses transferred 250 million tokens to exchanges within two weeks, yet the market still shows strong buying interest.

USDe's strong rise, the stablecoin landscape changes

On-chain data reveals strong growth momentum:

• Supply Surge: According to DeFiLlama, the supply of USDe stablecoin issued by the Ethena protocol surged by 75% in the past month, with a total market capitalization reaching 9.3 billion USD.
• Ranking Surge: This move has allowed USDe to surpass FDUSD, jumping to the third position in global stablecoin market capitalization, only behind Tether (USDT) and USDC.
• Compliance Layout: Following the passage of the "GENIUS Act" last month, Ethena announced that it is developing a new type of stablecoin compliant with the USD regulatory framework.

The protocol's TVL has broken 9.4 billion, with a monthly influx of funds increasing by 62 times

(Source: DeFiLama)

The Ethena ecosystem is experiencing explosive growth:

• New High for Locked Assets: The protocol's Total Value Locked (TVL) has surpassed 9.47 billion USD, ranking sixth among DeFi protocols.
• Capital Inflow: In July, the protocol's net capital inflow reached 2.96 billion USD, a 62-fold increase compared to 47 million USD in June.
• Revenue Doubling: The platform's monthly revenue soared from 19.96 million USD in June to 36.5 million USD.
• Token Performance: Strong fundamentals have driven ENA to accumulate a 140% increase over the past month, with a 20% growth in 24-hour trading volume to $1.1 billion.

Unlocking selling pressure and the simultaneous movement of whales, market competition intensifies Short-term risk factors to be wary of:

1. Token Unlock: According to CryptoRank data, this week 101.87 million ENA (approximately 10.187 million USD) will be unlocked, making it the largest unlock event of the week, which may trigger selling pressure.
2. Whale Selling: Analyst Ali Martinez has monitored that 250 million ENA have been transferred to the exchange in the past two weeks, suspected to be for profit-taking.
3. Big Shot's Reduction: Last week, industry KOL Arthur Hayes liquidated 7.76 million ENA (worth 4.62 million USD).

Conclusion: USDe, with a monthly growth rate of 75%, has entered the top three stablecoins, confirming the strong demand for synthetic dollar protocols in the DeFi space. The TVL breaking 9.4 billion and the surge in capital inflow lay the foundation for ENA's rise, while regulatory compliance opens up long-term potential. Despite facing massive unlocks and whale selling pressure in the short term, the market still shows confidence with a 15% single-day increase. Investors need to pay attention to USDe market share changes, staking yield fluctuations, and exchange ENA stock consumption rates. If it stabilizes above 0.65 USD during the day, it will open the channel to reach 0.7 USD. Under regulatory benefits, the revaluation of synthetic asset protocols in the RWA sector may become a focus in the second half of the year.