#ENA detected an abnormal increase in price:

1. The ENA protocol successfully withstood extreme pressure testing after the USDe decoupling, with the team intervening in a timely manner to stabilize the system, significantly enhancing the protocol's credibility and market confidence. The incident occurred recently.
2. A certain address received a single payment of 5.26 million ENA (approximately 2.16 million USD), making it one of the largest single transfers recently. This indicates a large amount of funds being transferred from a certain exchange, possibly for long-term holding or market-making purposes, representing a substantial on-chain positive signal.
3. A major exchange publicly affirmed Ethena's performance in portfolio and risk management, stating that its transparency should serve as an industry benchmark, and explicitly indicated that the exchange has launched ENA, which may support USDe in the future, enhancing the project's compliance and liquidity expectations.
4. Multiple on-chain wallets continuously and steadily transfer ENA to a certain exchange or transfer destination, indicating that market makers or institutions are systematically providing liquidity support, rather than engaging in short-term speculation, reflecting a healthy underlying market structure.
5. The Ethena team publicly responded to the excessive collateral issue of USDe, clarifying that the $660 million in collateral is sufficient, alleviating market panic regarding the security of the stablecoin, and directly reversing the previous FUD sentiment, constituting a fundamental recovery benefit.