Ethena Launches USDe Payments App on Avalanche With Visa
Ethena (ENA)
Editor:
Eugene Serbin
cryptotimes.io reports that Ethena has launched Ethena Pay, a mobile application enabling users to hold, transfer, and spend its USDe synthetic dollar. The beta is available on iOS across nearly 50 countries and utilizes Avalanche for its blockchain infrastructure while integrating Visa for payments. This launch shifts USDe activity from primarily trading, collateral, and decentralized finance toward routine consumer payments.
The application handles blockchain transactions in the background, allowing users to interact with USDe via a mobile interface rather than managing onchain transactions directly. Users can move between fiat currencies and USDe, with the Visa integration connecting the experience to Visa’s existing merchant network. Ethena previously reported more than $30 billion in cumulative activity through its mint and redemption systems.
USDe has been integrated across more than 100 platforms and protocols, though these figures do not represent activity on Ethena Pay. The service serves as a test of whether an asset developed for crypto markets can be used for everyday spending. Ethena has also connected USDe with traditional financial infrastructure, including an integration with BlackRock’s BUIDL fund and the Aladdin ecosystem. Additionally, Kraken Institutional announced a partnership with Ethena Labs for segregated cold-storage custody and weekly proof-of-reserves reporting.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 1 September 2026. Not the outlet's figures.
ENA is trading at $0.1495 with a 24-hour spot volume of $24,778,089. The 24-hour buy ratio stands at 45.8%, indicating that selling pressure slightly outweighs buying over the full day. However, shorter timeframes show a shift, with the 1-hour buy ratio at 48.4% and the 4-hour ratio at 51.0%, suggesting buying pressure is building in the immediate term. The 1-hour volume delta is negative at -$113,985, while the 4-hour delta is positive at +$344,133, reflecting a recent turn toward net buying. CVD for the 24-hour close is +$1,036,232, showing that cumulative buying has exceeded selling over the day despite the lower buy ratio. Net buying occurred for 9 of the 24 hours, indicating intermittent but present demand.
The latest daily buy ratio of 48.8% sits at the 47th percentile of the last 281 days, against a median of 49.0% - ordinary for this coin.
Twenty-four hours later
What ENA did over the 22 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.6%, making today’s 24-hour ratio of 45.8% 2.8 points lower than the weekly average. Volume today was 0.38 times the weekly average, indicating significantly reduced trading activity compared to recent norms. The 8-day volume delta total was -$3,784,526, contrasting with the positive 24-hour CVD and showing that net selling has dominated the broader weekly trend. Price has declined 2.1% over the eight-day period. This day appears ordinary in terms of sentiment direction but unusual due to the substantial drop in volume relative to the weekly baseline.