Ethena ENA May Hit $0.88–$1 as TVL and Earnings Surge
Ethena ENA price shows strong bullish momentum after a 15% inflow-driven gain over four weeks. Q3 earnings rebounded sharply to a record $7.43 million, up from $1.15 million in Q2, reflecting growing demand for Ethena’s synthetic dollar utility. On-chain data reveals a significant liquidity shift: one investor sold PEPE to accumulate $1.29 million worth of ENA, while the total number of ENA holders rose to 76,440 and market cap reached $4.33 billion.
Spot investors added over $50 million of ENA in private wallets in the past two weeks, signaling long-term holding sentiment. Total value locked (TVL) in the protocol hit an all-time high of $12.66 billion. Technical analysis shows a bullish flag breakout on TradingView, suggesting Ethena ENA price could rally to $0.88 and potentially extend toward $1 if liquidity inflows continue.
Bullish
The categorization is bullish due to multiple reinforcing factors. First, Ethena ENA price has seen four consecutive weeks of inflows and a 15% gain, mirroring past rallies where sustained liquidity inflows preceded strong breakouts. Second, Q3 earnings rebounded to $7.43 million—an all-time high after a weak Q2—signaling improving fundamentals and growing demand for its synthetic dollar utility. Third, TVL reached a record $12.66 billion, indicating deepening on-chain engagement and capital commitment. Fourth, technical charts show a bullish flag breakout, a classic continuation pattern that often leads to 20–30% upside in the short term. Spot accumulation of over $50 million into private wallets underscores long-term conviction. Historically, assets with simultaneous TVL growth and earnings rebounds—like AAVE and Compound during past DeFi cycles—experienced significant price appreciation. Therefore, both short-term traders and long-term holders have reasons to stay bullish on ENA.