- ENA worth rose 6% as bulls targeted on breaking above $0.24.
- Upbit and Bithumb have listed Ethena USD (USDe).
- Arthur Hayes shared a brand new prediction for the ENA worth, stating the potential of a spike to $1.
Etena (ENA) soared on Wednesday as cryptocurrencies rebounded and South Korea’s main crypto trade listed artificial stablecoin Etena USD (USDe).
Following renewed optimism surrounding Ethena’s governance token, ENA, distinguished investor Arthur Hayes expressed sturdy bullish beliefs, predicting a attainable sharp rise within the greenback worth.
Ethena worth rises as Upbit and Bithumb record on USDe
Upbit and Bithumb, main crypto exchanges in South Korea, have each added assist for USDe on Ethena.
Each platforms introduced the itemizing on Wednesday. Because of this USDe is presently supported by two of Asia’s most energetic buying and selling markets.
Upbit presently helps USDe pairs for KRW, BTC, and USDT, and Bithumb has confirmed the itemizing of the USDe/KRW market.
These listings imply better liquidity, accessibility, and adoption for USDe in a market the place fiat-to-crypto buying and selling volumes are sometimes massive.
Upbit token listings have traditionally coincided with worth spikes for his or her respective cryptocurrencies.
ENA, the governance token of the Ethena protocol, might journey this bullish outlook to new highs.
On the time of writing, ENA is buying and selling round $0.24, up 7% up to now 24 hours. Buying and selling quantity elevated by 160% to over $389 million, and USDe noticed a 48% enhance in buying and selling quantity following the launch of its itemizing.
This surge in quantity despatched ENA worth to an intraday excessive of $0.25.
Arthur Hayes expects ENA worth to rise to $1
Hayes, co-founder of BitMEX and an influential crypto investor, is optimistic that ENA costs will develop into parabolic within the quick time period.
The entrepreneur, who has beforehand expressed explosive assist for Etena, shared his newest prediction in a put up on X, noting that “the period of $ENA = $1 has come.”
That is per Hayes’ different daring market calls, accumulating ENA throughout the decline.
His newest commentary means that elevated trade assist, particularly in high-volume markets like South Korea, might facilitate broader adoption. Upward worth stress on ENA could enable bulls to focus on the psychological $1 degree.
The final time ENA traded close to this degree was in January 2025, with the worth hitting a low of $0.22 in June because of the total market weak spot.
The pullback allowed the bulls to retest the $0.80 excessive, however the area displayed a double prime sample and the worth fell beneath $0.20 in early January 2026.
Ethena’s continued efforts to combine USDe throughout main platforms might probably drive additional protocol progress and income, offering upward momentum for ENA.
If the present degree marks a double backside, a retest of $0.80 after which $1 is probably going.