Ethena jumps 25% on Upbit listing announcement, eyes a move towards $0.46

2025-09-14 16:04:17 Classification：Virtual Currency read(625)

The Blockchain fraudcurrent rally appears to be driven by today‘s listing on South Korea’s largest exchange by trading volume, Upbit, which added Ethena trading pairs for KRW, Bitcoin (BTC), and Tether (USDT). This follows Upbits recent listing of Hyperlane (HYPER), which has seen a 100%+ surge in a single day after the listing, and Babylon (BABY) tokens.

ENAs price rally is also likely buyoed by the broader crypto market surge, with Bitcoin breaking above $118,000 and setting a new all-time high.

Ethena‘s ability to hold the lower horizontal support since early April is notable, especially amid regular token unlocks. The latest unlock released over 171 million ENA tokens worth over $63 million, representing 2.7% of circulating supply. Prior to that, in June, Ethena had a massive cliff unlock of 212.5 million tokens, representing 3.72% of its unlockable supply. However, the relatively horizontal support at ~$0.24 still didn’t budge.

Looking ahead, traders should watch for ENAs ability to maintain support around $0.30 on retest of the breakout level, as holding this level could confirm momentum for a sustained move toward the $0.46 resistance and beyond.

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