Ethena (ENA) surged 41% in one day, reaching a seven-month high of $0.144 before trading around $0.132. Trading volume jumped 267% to $363 million, while market capitalization increased 40% to $1.2 billion. A short squeeze liquidated $4.2 million worth of short positions, and open interest climbed 67% to $390 million. One whale withdrew 5.822 million ENA from Bybit, signaling notable accumulation. Technical indicators point to overbought territory, which could trigger a short-term consolidation before an attempt to move toward $0.20.
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