INSIGHT: Ethena had its largest active-address day in seven months on June 18, with 5,057 daily active addresses.
New wallet creation hit 2,968, the most in 26 months, since April 2024. https://t.co/P93EVR3Kyi
INSIGHT: Ethena had its largest active-address day in seven months on June 18, with 5,057 daily active addresses.
New wallet creation hit 2,968, the most in 26 months, since April 2024. https://t.co/P93EVR3Kyi
Wu says, according to Santiment monitoring, Ethena on-chain activity has seen explosive growth recently. On June 18, its daily active addresses (5,057) reached a new high since November 2025, and new wallets (2,968) also set the highest record since April 2024. Analysis says that ENA's proposed buyback and burn mechanism, expanded staking utility, and the continued growth of the USDe ecosystem are the main reasons driving this surge in network activity.
https://t.co/x4lJ5xRHxg
Yeah, I think people are sleeping on what they’re doing and how they’re executing, and over-indexing on the supply overhang.
They’re missing the point IMO: $ENA’s market cap is in its cheapest range since the first cliff unlock, while FDV is still $1.34B, and total stablecoin supply seems to have bottomed.
Meanwhile, they recently announced three huge partnerships: Coinbase, Securitize, and Janus Henderson.