ENA holds 25% weekly gain as FalconX deal supports rally
Ethena (ENA)
Editor:
Eugene Serbin
crypto.news reports that Ethena’s ENA token traded near $0.147 on August 27, retaining a weekly gain of approximately 25% after its recent breakout met resistance. The token reached an intraday high of $0.18023 on August 23 before sellers took control, resulting in an 18% correction from that peak. The primary catalyst for this advance was Ethena’s reported partnership with FalconX to establish a $1 billion secured warehouse lending facility.
Under this arrangement, reserve assets backing Ethena’s USDe synthetic dollar can be used in overcollateralized loans to institutional borrowers. Trading activity surged following the announcement, with daily volume climbing above $1.04 billion, a 319% increase. Despite Bitcoin dominance rising to 59.8% and the Altcoin Season Index dropping to 33, ENA remained well above its July and early August range of $0.075 to $0.095.
The daily Supertrend indicator remains bullish with dynamic support near $0.1202, supporting the broader recovery thesis. Liquidation clusters around $0.150 and $0.161 are expected to shape the token's next move. The 100 largest wallets control roughly 90% of the circulating supply, meaning holder decisions may have an outsized effect on price. ENA’s relative strength index reached 88 during the rally, placing it deep in overbought territory and raising the probability of profit-taking.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 27 August 2026. Not the outlet's figures.
Whalio data shows ENA trading at $0.1475 with a 1-hour buy ratio of 53.0%, indicating short-term buying pressure is building compared to the 24-hour ratio of 48.9%. The 1-hour volume delta is positive at +$1,979,708, contrasting with negative 4-hour and 24-hour deltas of -$716,100 and -$668,659 respectively. This suggests that while longer-term selling pressure persists, immediate flow has shifted toward buyers. A buy ratio above 50% means more volume is being executed by buyers than sellers, while a positive volume delta indicates net buying pressure. The 24-hour cumulative volume delta closed at +$3,510,818, showing net accumulation over the day. Spot volume reached $31,929,234 with 164,211 trades recorded in the last 24 hours.
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 average buy ratio was 50.3%, making the current 24-hour ratio of 48.9% slightly lower by 1.4 points. Weekly volume was 0.42x the average, indicating a significant drop in trading activity compared to the norm. The token saw a price change of +58.1% over eight days, with a total volume delta of +$4,217,608 for the period. Net buying occurred on 4 of the 7 days, suggesting intermittent rather than consistent demand. This represents an unusual day for the coin, characterized by lower volume and a buy ratio below the weekly average despite the recent price surge.