ENA Price Shoots 25% As Ethena Pitches Direct Competition to Tether

ENA, the native cryptocurrency of Ethereum-based DeFi project Ethena has witnessed a strong surge as the platform pitches a direct stablecoin competition with industry giant Tether. As a result, the ENA price has shot up by 25% moving to $0.35 with its market cap surging past $920 million. Also, the daily trading volume for ENA has surged by 180% to $233 million.