Ethena’s TVL hits ATH, but ENA price slides 13% – Here’s why
The post Ethena’s TVL hits ATH, but ENA price slides 13% – Here’s why appeared on BitcoinEthereumNews.com.
Key Takeaways Why is Ethena’s TVL rise notable? Ethena locked $13.88 billion in TVL with APY at 7.2%, showing strong investor confidence despite bearish price action. What signals could drive ENA’s price recovery? Funding Rate hit –0.0046% while exchange Netflows rose; easing off-chain pressure may open room for bullish inflows ahead. Ethena [ENA] posted stronger on-chain activity but failed to reflect those gains in price action. At press time, ENA traded at $0.703, down 3.28% on the day and almost 13% weekly. Despite this weakness, Total Value Locked (TVL) and active participation signaled strength under the hood. AMBCrypto now breaks down whether this disconnect between rising adoption and falling price could set up ENA’s next decisive move. Investors locked in more capital DefiLlama data showed Ethena’s Total Value Locked (TVL) climbed to $13.88 billion, setting a fresh all-time high. A one-day inflow of $151 million suggested long-term optimism, as investors continue to lock assets with the expectation of sustained yield rewards and possible upside as ENA strengthens. Source: DeFillama A rise in TVL often reflects bullish investor confidence, while a decline typically indicates bearish sentiment building up in the market. In ENA’s case, the recent increase has tilted sentiment toward growth, despite the drop in token value. On-chain activity aligns with bullish sentiment Activity on-chain has also mirrored the positive outlook suggested by the rise in TVL. For instance, Ethena’s 30-day APY, which tracks the average yield generated by investors, has reached its highest point since March. At the time of writing, this figure crossed 0.072, showing that liquidity providers are earning notable profits from the protocol. This trend further reflects the broader strength seen in TVL growth. Source: Artemis Transaction volume on-chain has also risen sharply as well. Data from Artemis, which tracks on-chain usage, shows the number of…
Filed under: News - @ September 17, 2025 7:28 am