Ethena Price Soars 5.5% After $360M StablecoinX Investment

Key Insights:

• StablecoinX Inc. has announced a $360 million capital raise to purchase ENA.
• Ethena price action and technical analysis hints that ENA has the potential to soar another 70%.
• Arthur Hayes shows strong support for the bulls.

Following the investment plan of over $360 million in Ethena, ENA, the native token, has surged by more than 5.5% over the past 24 hours. On July 21, 2025, the official X handle of Ethena announced that StablecoinX Inc. plans to invest $360 million in ENA tokens.

$360 Million of Investment in Ethena

In a post on X, Ethena shared that StablecoinX Inc. has announced a $360 million capital raise to purchase ENA. It also plans to list its Class A common shares on the Nasdaq Global Market under the ticker symbol “USDE.” That includes a $60 million contribution of ENA from the Ethena Foundation.

This news has garnered massive attention from crypto enthusiasts and has gone viral, which is also reflected in ENA price. The announcement was further shared by BitMEX’s ex-CEO, Arthur Hayes. He added a cryptic comment aimed at the bears, suggesting his strong bullish sentiment toward ENA.

This investment news, along with Hayes’ update on X, triggered a parabolic move in ENA. Its price surged from $0.49 to $0.59 in less than an hour.

The asset has dropped to $0.5153 at press time but still holds a 4.50% gain over the past 24 hours. During this period, investors’ and traders’ interest in the token has skyrocketed. That resulted in a 60% increase in trading volume.

Investors and Traders Eye Bullish Opportunities in ENA

Despite the price drop, investors, instead of panicking, have seized the opportunity and appear to be heavily accumulating the tokens, as reported by the on-chain analytics firm CoinGlass.

Data reveals that exchanges have witnessed a significant outflow of $11.73 million worth of ENA tokens over the past 24 hours. This outflow indicates potential accumulation, which could create buying pressure and drive a further upside rally.

Along with this, traders also seem to be aligning with the current market sentiment and are strongly betting on the bullish side. As of now, two major liquidation levels are at $0.483 on the lower side and $0.564 on the upper side, where traders are over-leveraged.

If the sentiment shifts and Ethena price falls to the $0.483 level, nearly $19.83 million worth of long positions will be liquidated.

Conversely, if the sentiment remains unchanged and the price soars to the $0.564 level, $13.47 million worth of short positions will be liquidated.

Ethena Price Action and Technical Analysis

According to expert technical analysis, ENA price is in an uptrend but is currently witnessing a correction after six consecutive days of rallying without pause.

As per the daily chart, the token has soared over 87% during this period. Ethena price has also broken a key resistance level, which it now appears to be retesting.

Based on recent price action and overall market structure, ENA could soar another 70% in the coming days and may reach the $0.85 level. However, this rally will only be possible if ENA holds above the $0.48 level; otherwise, the market could witness a sharp decline.

When writing, the asset’s Relative Strength Index (RSI) stood at 77, indicating Ethena is in overbought territory. It may cause the price to either move sideways or begin correcting until the value falls below 70.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.