Jun 22
Ethena ENA On-Chain Activity Hits Multi-Month High as Price Holds Near $0.09
Ethena ENA active addresses hit 5,057, highest since November 2025, as ENA trades near $0.09 after a 92% pullback.
➤ Ethena's ENA token has experienced a significant surge in on-chain activity, with daily active addresses reaching a multi-month high not seen since November 2025. ➤ This increase in network usage, alongside new wallet creation, is occurring while the ENA price hovers near $0.09, a substantial 92% decrease from its late 2025 peak. ➤ The divergence between rising user engagement and a weak price trend has placed ENA on trader watchlists, with focus on whether sustained activity can support a potential bottom formation.