{"id":88112,"date":"2026-08-24T14:34:34","date_gmt":"2026-08-24T14:34:34","guid":{"rendered":"https:\/\/mudrex.com\/learn\/?p=88112"},"modified":"2026-08-25T10:09:10","modified_gmt":"2026-08-25T10:09:10","slug":"ethena-coin-of-the-week-ena","status":"publish","type":"post","link":"https:\/\/mudrex.com\/learn\/ethena-coin-of-the-week-ena\/","title":{"rendered":"Coin of the Week | Ethena (ENA) | 18-24th August"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Ethena (ENA)<\/strong> is our Token of the Week after surging roughly <strong>90% over the past week<\/strong>, driven by a major institutional lending deal, a strong crypto market recovery, and renewed derivatives activity.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"762\" src=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-1024x762.png\" alt=\"\" class=\"wp-image-88114\" title=\"\" srcset=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-1024x762.png 1024w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-300x223.png 300w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-768x571.png 768w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-1536x1143.png 1536w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd-150x112.png 150w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/74be5738-ad58-4ec3-8f8f-7b3a70da89cd.png 1976w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">ENA rallied from around <strong>$0.083 to above $0.16<\/strong>, briefly touching the $0.18 region. The move accelerated after Ethena and FalconX announced a <strong>$1 billion secured lending facility backed by USDe reserves<\/strong>. The facility allows USDe backing assets to be deployed into overcollateralized institutional loans, giving Ethena another potential source of revenue beyond its traditional derivatives-based strategy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The rally also came during a broader risk-on move across crypto, helping high-beta tokens such as ENA attract additional buying interest.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"267\" src=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-1024x267.png\" alt=\"\" class=\"wp-image-88115\" title=\"\" srcset=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-1024x267.png 1024w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-300x78.png 300w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-768x200.png 768w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-1536x401.png 1536w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94-150x39.png 150w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/169f9562-c8ec-4d94-bf6e-8109de82aa94.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Derivatives activity confirms the surge in trader interest. <strong>ENA open interest climbed to roughly $252 million<\/strong>, while the aggregated funding rate remained positive at around <strong>0.0084%<\/strong>. This suggests leveraged demand increased sharply alongside price without funding reaching the extreme levels typically associated with heavily overcrowded long positioning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENA&#8217;s RSI has also cooled to around <strong>47<\/strong> after moving into overbought territory earlier in the rally. This reflects the recent consolidation near $0.16 following the explosive move higher.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"605\" src=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-1024x605.png\" alt=\"\" class=\"wp-image-88116\" style=\"width:810px;height:auto\" title=\"\" srcset=\"https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-1024x605.png 1024w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-300x177.png 300w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-768x453.png 768w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-1536x907.png 1536w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd-150x89.png 150w, https:\/\/mudrex.com\/learn\/wp-content\/uploads\/2026\/08\/a6ee181e-3256-4af1-a234-69d16687f7dd.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The liquidation heatmap shows significant liquidity concentrated around ENA&#8217;s current trading range, with notable clusters above price near <strong>$0.17-$0.18<\/strong> and additional liquidity below. These zones could contribute to increased volatility if price moves toward them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall, <strong>Ethena combines a strong fundamental catalyst with a major technical breakout and rising market participation<\/strong>, making ENA one of the week&#8217;s standout crypto performers. Historical price data also shows the sharp acceleration between August 19 and August 23.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Meta description:<\/strong> Ethena (ENA) surged around 90% this week as a $1B FalconX lending deal, crypto market strength and rising derivatives activity fueled its breakout.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethena (ENA) is our Token of the Week after surging roughly 90% over the past week, driven by a major institutional lending deal, a strong crypto market recovery, and renewed derivatives activity. ENA rallied from around $0.083 to above $0.16, briefly touching the $0.18 region. The move accelerated after Ethena and FalconX announced a $1 [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":88113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_import_markdown_pro_load_document_selector":0,"_import_markdown_pro_submit_text_textarea":"","footnotes":""},"categories":[1889],"tags":[],"class_list":["post-88112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"_links":{"self":[{"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/posts\/88112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/comments?post=88112"}],"version-history":[{"count":1,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/posts\/88112\/revisions"}],"predecessor-version":[{"id":88117,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/posts\/88112\/revisions\/88117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/media\/88113"}],"wp:attachment":[{"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/media?parent=88112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/categories?post=88112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudrex.com\/learn\/wp-json\/wp\/v2\/tags?post=88112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}