Ethena's USDe Surpasses $320 Million on Robinhood Chain
Ethena (ENA)
Editor:
Eugene Serbin
According to cryptocurrency.com.tr, Ethena’s USDe has surpassed $320 million on Robinhood Chain within eight weeks of launch, accounting for 42% of the chain’s stablecoin supply. Token Terminal data shows USDe is now the network’s largest external dollar asset, positioned behind Robinhood Chain’s own USDG. This growth was supported by Ethena’s role as the primary collateral issuer for Robinhood.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Whalio’s Binance spot data for ENA shows a price of $0.1701 with a 24-hour buy ratio of 52.3%, indicating that buying pressure is building compared to the 46.2% seen in the last hour. The volume delta has shifted from negative -$440,439 in the past hour to positive +$500,193 over four hours, reflecting a transition from net selling to net buying. The 24-hour volume delta stands at +$6,367,162, with cumulative buying pressure (CVD) closing at +$5,813,900. This means that over the last day, buyers have outweighed sellers by a significant margin, driving the net flow into positive territory.
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 24 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 7-day average buy ratio was 49.8%, making today’s 24-hour ratio of 52.3% an unusual day with 2.5 percentage points more buying activity than the average. Spot volume was 1.74 times the weekly average, indicating significantly higher trading activity than usual. The coin experienced a price change of +45.9% over eight days, with a total volume delta of +$10,039,317. While there were only three days of net buying in the last week, today’s metrics show a strong continuation of the recent upward trend.