Ethereum News Today: Ethena Forms Golden Cross as ENA Surges 16% on Strong USDe Growth and Ethereum Rally

Generated by AI AgentCoin World
Monday, Aug 11, 2025 7:24 am ET1min read
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Aime RobotAime Summary

- Ethena (ENA) forms a golden cross as 50-day SMA surpasses 200-day SMA, historically preceding 87% price surges.

- ENA's 16% intraday gain boosts market cap to $5.4B, driven by USDe stablecoin's $10B supply growth and Ethereum's $4,000 breakout.

- Technical indicators show bullish momentum with MACD crossover and overbought RSI, though short-term corrections remain possible.

- Increased Korean investor demand and Ethereum-linked reserve strategies reinforce ENA's price appreciation potential.

Ethena (ENA) has formed a "golden cross" on its daily chart, a bullish technical signal historically linked to significant price rallies. This pattern emerged as the 50-day simple moving average crossed above the 200-day simple moving average, a development that often precedes a strong uptrend. The last time

ENA
experienced a golden cross, in late November 2024, it surged by over 87% to reach $1.33 by December [1].

On August 11, ENA rose 16% to an intraday high of $0.85, extending its 30-day gains to nearly 150%. The token’s market capitalization has climbed to $5.4 billion, with daily trading volume surpassing $1.4 trillion. The recent rally is attributed to multiple factors, including the success of Ethena’s synthetic stablecoin,

USDe
, which has exceeded $10 billion in supply within just 500 days of its launch. This achievement underscores the rapid adoption of USDe and bolsters confidence in the Ethena ecosystem [1].

Ethereum’s recent breakout above the $4,000 level has also contributed to the positive momentum surrounding ENA. Ethereum’s 20% rally over the past seven days has significantly outperformed

Bitcoin
during the same period, reinforcing investor optimism in ETH-based assets. Ethena’s reserve collateral and hedging strategies are heavily tied to
Ethereum
, meaning the performance of ETH directly impacts the valuation of Ethena’s reserves and the stability of USDe [1].

Technical indicators further support the bullish case. The MACD line has crossed above the signal line, signaling upward momentum, while the RSI has entered overbought territory following ENA’s sharp gains. These readings suggest sustained buying pressure, although overbought conditions may precede short-term corrections. Nonetheless, if ENA mirrors its performance following the previous golden cross, the price could reach $1.14 [1].

Additionally, increased demand from Korean markets has been observed. Community members have noted a rise in ENA exposure among Korean investors, drawing comparisons to the trading activity seen in foreign stocks like

CRCL.
This regional interest further supports the ongoing price appreciation of ENA [1].

Source: [1] Ethena prints golden cross that preceded 87% rally in 2024 (https://coinmarketcap.com/community/articles/6899cf7cc4a7cb3a2ce859eb/)