Ethereum News Today: Ethena Surges 160% on Strong On-Chain Activity and Institutional Interest

Ethereum’s price continues to weaken amid bearish sentiment reflected in the Ethereum Fear and Greed Index, with declines observed over multiple timeframes [1]. The broader crypto market remains under pressure, with analysts linking the downturn to token unlocks and macroeconomic headwinds [2]. Despite this, Ethena (ENA) and Hedera (HBAR) have emerged as standout performers, showing resilience and substantial price gains.

Ethena (ENA) has surged more than 160% in the past month, driven by strong on-chain activity and increasing institutional interest [3]. Unlike typical token unlock events, which often trigger sell-offs, the recent ENA unlock saw the market absorb the additional liquidity without a significant price drop, reinforcing confidence in the project [2]. This trend suggests a growing belief in Ethena’s long-term potential, despite the token’s recent 8.87% weekly decline [3].

Hedera (HBAR) has similarly outperformed broader market conditions, maintaining its value even as the overall crypto market dipped below a $50 billion market cap [2]. Recent partnerships, including confirmations with major firms like Nvidia, have contributed to the token’s stability [2]. HBAR’s adoption of directed acyclic graph (DAG) technology and its focus on enterprise-grade solutions are viewed by analysts as key differentiators in a market that remains skeptical of traditional blockchain models [2].

While both tokens have posted impressive short-term gains, the sustainability of these trends is still uncertain. Investors are closely monitoring this week’s price movements for signs of continuation or reversal. If Ethereum’s downward trajectory continues, it could impact even the strongest performers in the sector. However, ENA and HBAR’s ability to resist broader market pressures highlights the importance of project fundamentals and unique technological value propositions [2].

The Ethereum Fear and Greed Index remains a critical barometer for market psychology as the broader market struggles to find stability [1]. For now, Ethena and Hedera appear to have carved out a niche, but the volatile nature of the crypto market means that any uptrend is subject to reversal with a shift in sentiment [2].

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Source:

[1] Ethereum Fear and Greed Index | Multiple Timeframes. (2025, July 25). CFGI.io. https://cfgi.io/ethereum-fear-greed-index/

[2] Down More Than 7% After Reporting Earnings, This Top ... (2025, July 28). Mitrade. https://www.mitrade.com/au/insights/news/live-news/article-8-1010115-20250804

[3] 3 Reasons Why the Ethena (ENA) Price Has Soared by 160% in the Past Month. (2025, July 27). Leap Digital Investments. https://leapdigitalinvestments.com.au/