Ethena (ENA) Price Eyes $1 Breakout, Arthur Hayes Sparks Massive Hype

Ethena (ENA) is gaining serious traction in the crypto market as it pushes closer to the $1 breakout level. 

With strong momentum, major exchange listings, and rising adoption of its synthetic dollar USDe, ENA has quickly become one of the most talked-about tokens in 2025.

Backed by Arthur Hayes and a rapidly expanding DeFi ecosystem, Ethena is combining strong fundamentals with bullish technical setups. Investors are now eyeing whether ENA can extend gains beyond $1 and potentially test higher targets in the near term.

Ethena (ENA) Price Nears $1 Breakout

As of early September 2025, ENA is trading between $0.81 and $0.83, marking a 20% increase over the past week. This level is the strongest since January, signaling renewed market confidence.

The catalyst has been the listing of Ethena’s synthetic dollar, USDe, on Binance. With a circulating supply backed by over $13 billion in value, this listing has opened the door for Ethena’s “fee switch” to activate, potentially unlocking $500 million in token buybacks.

Arthur Hayes and Institutional Backing

Arthur Hayes, co-founder of BitMEX and one of Ethena’s biggest backers, has been vocal about ENA’s long-term potential. 

He recently suggested that the token could climb to $1.50, representing significant upside from current levels.

Ethena’s model of sharing revenue from USDe activity directly with ENA holders adds another layer of appeal for long-term investors. With over $480 million in lifetime revenue and $54 million in August 2025 alone, the project has demonstrated remarkable growth.

Technical Analysis of Ethena (ENA) Price

Charts show ENA breaking above a rising channel on shorter timeframes, supported by expanding Bollinger Bands and an RSI above 76. These indicators highlight strong buying momentum.

Key support levels to watch include $0.76 and $0.71. A break below $0.70 would likely invalidate the bullish setup, while a successful hold of support keeps ENA on track for its $1 breakout and beyond.

Market Activity and DeFi Ecosystem Growth

Ethena’s market capitalization stands at around $5.5–$5.7 billion with a circulating supply of roughly 6.4–6.8 billion ENA tokens. The project’s DeFi ecosystem has surpassed $13 billion in total value locked (TVL), showing deep liquidity and adoption.

Trading activity has also surged, with over $1.7 billion in 24-hour volume. These figures highlight Ethena’s strong position among next-generation DeFi protocols and its growing recognition in the broader market.

Read more: Hyperliquid Exchange and Ethena Partnership Drive HYPE Token and USDe....

Final Thoughts

Ethena (ENA) is building momentum with a mix of technical strength, ecosystem expansion, and investor confidence. 

The Binance listing of USDe and revenue-sharing model have created a powerful narrative around ENA, with traders watching closely for the $1 breakout. If bullish momentum continues, upside targets of $1.50 could be within reach in the coming months.

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FAQs

What is Ethena (ENA)?

Ethena is a DeFi protocol that issues a synthetic dollar stablecoin, USDe. Its native token ENA benefits from revenue-sharing, governance, and ecosystem growth.

Why is ENA price rising now?

ENA’s rally is fueled by the Binance listing of USDe, activation of a fee switch enabling token buybacks, and strong investor interest led by Arthur Hayes.

Can Ethena reach $1 soon?

Yes, ENA is trading around $0.81–$0.83 and approaching the $1 breakout level, with bullish technical indicators supporting further gains.

What are the risks for ENA investors?

If ENA falls below key support levels at $0.71–$0.70, the bullish setup may break down, leading to potential downside pressure.

What is Ethena’s long-term price prediction?

Some analysts and investors, including Arthur Hayes, see ENA reaching $1.50 or higher, depending on ecosystem adoption and continued revenue growth.