ENA is trading at $0.1183, up 6.73% over 24 hours with volume surging over 35%. The token has gained renewed attention after its issuing project, Ethena, announced a strategic pivot from stablecoin competition to offering white-label infrastructure. Analysts identify a key support zone near $0.10 and note early traction for the new model.
The Ethena token (ENA) has seen renewed market activity and a strategic shift in its underlying project’s business model. ENA is currently trading at $0.1183, reflecting a 6.73% gain over the past 24 hours with trading volume spiking 35.3% to $161.21 million.
Analysts are watching price levels closely for signs of a larger move. Crypto analyst Third Eye identified a major weekly demand zone near $0.10, suggesting ENA could bounce toward targets of $0.35 or higher if support holds. The token remains in a prolonged downtrend from previous resistance around $1.20 to $1.30.
The project itself is undergoing a significant pivot in focus. Analyst Aiixbt stated that “ethena stopped fighting the stablecoin wars. now selling white-label infrastructure to everyone.” This model has shown early traction, with JUPUSD reaching $74 million in circulation within 40 days.
Ethena’s integration with Conduit enables over 300 rollups to deploy native stablecoins from launch. While this infrastructure strategy is viewed as a potential growth driver, concerns about systemic risk remain if the core delta-hedging model fails. The market has yet to fully price this strategic shift away from a single stablecoin product.
