EtherFi launches stablecoin managed by Ethena
Ethena (ENA)
Editor:
Eugene Serbin
lookonchain.com reports that EtherFi has launched its own stablecoin, ether.fi USD, which is managed by Ethena. This development adds a new asset to the ecosystem managed by the protocol. In other market news, cloud computing firm Lambda is raising up to $4 billion at a pre-money valuation of $14.5 billion.
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How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 6 October 2026. Not the outlet's figures.
ENA is trading at $0.2494 with a 24-hour spot volume of $62,929,656 across 299,054 trades. The 24-hour buy ratio is 52.9%, indicating a slight majority of buyers over the full day, while the 1-hour ratio sits higher at 58.7%. However, the 4-hour buy ratio drops to 47.1%, suggesting that buying pressure is fading in the immediate short term. Volume Delta shows a strong positive flow of +$69,865 in the last hour, contrasting with a negative -$288,787 over the past four hours. This indicates that recent trades have been net buying, but this momentum has reversed over the slightly longer four-hour window. The 24-hour Volume Delta is +$3,630,365, showing that cumulative buying has outweighed selling over the day despite the negative CVD of -$2,273,215.
The latest daily buy ratio of 50.3% sits at the 71st percentile of the last 322 days, against a median of 49.0% - stronger buying than most days.
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 49.9%, meaning today's 24-hour ratio of 52.9% is 2.9 points higher than the weekly norm. Volume today is 1.16x the weekly average, indicating an unusually active trading day compared to the typical baseline. The price has declined 2.8% over the eight-day period, with a total Volume Delta of -$3,598,979. This contrasts with today's positive 24-hour delta, showing that the recent uptick in buying has not yet reversed the broader weekly downtrend. While today sees more net buying than usual, the weekly context remains bearish with three days of net buying out of seven.