ENA Price Jumps 10% as Ethena Pay Fuels Bullish Momentum

The ENA price is suddenly giving traders something to watch, with the token rising 10% intraday as Ethena’s network activity and whale transactions point to stronger participation. The timing is interesting: a golden cross has also formed on the daily chart between the 50-day and 200-day EMA bands.

Ethena Network Activity Starts Looking Stronger

The network’s active-address metrics are climbing across the 24-hour, seven-day and 30-day periods, showing broader activity rather than a single short-lived spike.

At the same time, whale transaction counts above $100,000 and $1 million have also increased, suggesting larger transactions are becoming more frequent.

That doesn’t automatically mean whales are accumulating. Still, combined with rising network activity, the data gives the ENA price a stronger fundamental backdrop than it had previously.

Ethena Pay Brings A Bigger Product Push

Ethena is also expanding beyond its existing ecosystem with the launch of Ethena Pay, described as an internet money neobank. The product offers 5% card-spend cashback, a 6% dollar savings rate, free global money transfers and free onramps in USD, GBP, EUR and local currencies.

It also includes multi-currency savings accounts, IBAN integration with self-custodial stablecoin accounts and a “Buy Now Pay Never” feature where savings rewards can cover daily expenses. The service is live for iOS users.

ENA Price Faces A Critical Technical Test

Technically, the ENA price now sits at a key decision zone between $0.13 and $0.19. If bullish demand pushes the token above this range, the next potential levels are $0.25 and $0.40.

But there’s plenty of room for disappointment. A failure below $0.13 could expose $0.10 and potentially $0.07.

For now, the golden cross and rising activity make the ENA price setup increasingly interesting, but the $0.13-$0.19 range still needs to resolve before the next major move becomes clearer.