South Korea’s largest cryptocurrency exchange by trading volume, Upbit, has officially announced the listing of Ethena’s native token, ENA. 🚀
Following the announcement, ENA saw a double-digit surge during Friday’s early Asian trading hours. It’s like the token decided to take a leaf out of the Douglas Adams playbook and hitch a ride to the stars. 🌠
Ethena’s ENA Token Rises After Upbit Listing
In an official notice released today, Upbit revealed that the ENA will be available to trade against three trading pairs: the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Furthermore, trading will begin at 5:00 PM Korean Standard Time (KST) today. It’s like a cosmic countdown to launch. 🚀
The deposits and withdrawals for ENA will commence within two hours of the announcement. The exchange added that deposits are exclusively supported through the Ethereum network. They also encouraged users to verify the network before making any deposits. Because, you know, you wouldn’t want to send your tokens to the wrong galaxy. 🌌
It also mentioned that if sufficient liquidity is not secured after the announcement, the start time for trading support may be postponed. Just in case the universe decides to play a bit of hide and seek. 🕵️♂️
“The contract address for ENA supported by Upbit is 0x57e114B691Db790C35207b2e685D4A43181e6061. Please confirm the contract address when proceeding with ENA deposits/withdrawals,” the notice reads.
The listing announcement shows Upbit’s continued push to expand its offerings, following yesterday’s additions of Hyperlane (HYPER) and Babylon (BABY). These listings sparked notable price increases for the altcoins, a pattern that also held true for ENA. It’s like the market decided to throw a cosmic party, and ENA was the guest of honor. 🎉
$ENA listed on largest Korean exchange. It’s time for liftoff!
Yachtzee
— Arthur Hayes (@CryptoHayes) July 11, 2025
Market data showed that ENA rose from around $0.327 to $0.390, marking an appreciation of 19.27%. It shed some of these gains to trade at $0.357 at the time of writing. Still, it was up 9.9%. It’s like the token decided to take a quick nap before continuing its journey to the moon. 🚀🌙
Furthermore, over the past two weeks, ENA has experienced a 42.3% uptick. This is especially notable given the fact that over 210 million new ENA tokens entered the market. It’s like the token decided to invite a few more friends to the party. 🎉
Data from Tokenomist revealed that ENA saw two token unlocks this month. On July 2, the team released 40.63 million tokens. Shortly after, on July 5, another 171.88 million tokens were unlocked. Despite this, ENA maintained upward momentum. It’s like the token has a secret engine that keeps it going. 🚀
In addition, the growth of the Ethena protocol has been equally notable. According to CryptoRank, the protocol’s total revenue reached $290.2 million on July 9. This places it among the top stablecoin issuers globally, following Tether, Circle, and Sky. It’s like Ethena decided to join the elite club of cosmic financial wizards. 🌠💰
The research and analytics platform also stressed that Ethena was the second fastest platform to reach $100 million in cumulative revenue, a milestone it achieved just 251 days after launch. It’s like the protocol decided to sprint to the finish line, leaving everyone else in the dust. 🏃♂️💨
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2025-07-11 09:51