Ethena ($ENA) Network Expansion, Whale Movements, and Price Trends Indicate Robustness in 2025

On-Chain Activity Growth: Ethena ($ENA) has seen an increase in daily active addresses, transaction volume, and whale transactions, indicating deeper network engagement and broader adoption since late August.

Whale Activity and Market Confidence: Increased whale transactions during price movements suggest accumulation rather than distribution, reinforcing confidence in the market's long-term sustainability and supporting price advances.

Price Performance and Volatility: Ethena's recent trading range was between $0.765 and $0.785, with a daily change of -1.37%, but it has shown significant gains over the past week (+19.15%) and longer periods (+157.32% over 90 days).

Market Sentiment and Risks: The long/short ratio indicates strong bullish sentiment among traders, but this also raises the risk of liquidations if the market experiences a downturn.