- On Tuesday, the ENA price witnessed a drop of around 3% on a daily chart, declining its value to $0.1111 with a market capitalization of $970.43 million.
- Ethena has also announced that its bridges for moving USDe and sUSDe tokens across blockchains using LayerZero are back live after suspending its service following the KelpDAO hack.
- Before the upgrade, the system needed only 2 out of 2 Decentralized Verifier Networks to approve a transfer, but now it requires 4 out of 4.
On April 21, Ethena (ENA) price witnessed a drop of around 3% on a daily chart amid the uncertainty in the cryptocurrency market.
At the time of writing this, Ethena’s price is trading at around $0.1111 with a drop of around 3.17% in the last 24 hours. The cryptocurrency currently holds a market capitalization of around $970.43 million. The daily trading volume revolves around $103.9 million, according to CoinMarketCap.
Ethena Restarts Cross-Chain Transfers With Stronger Safety Measures
On April 21, Ethena announced that it is restarting the service for moving its USDe and sUSDe tokens between different blockchains using LayerZero. This happened after a short pause to ensure safety. USDe is Ethena’s synthetic dollar, which is a crypto version of 1 dollar that stays stable without relying on traditional banks.
LayerZero bridging for both sUSDe and USDe is now back live across all chains following the temporary pause.
We’ve strengthened security by increasing DVNs from 2/2 to 4/4 across all chains with the existing rate limits of $10m per hour.
We will continue providing updates as… https://t.co/o2ea4s7sDP
— Ethena (@ethena) April 21, 2026
sUSDe is the savings account version. When users own USDe and stake it in Ethena, they receive sUSDe in return, and it earns yield automatically from the protocol’s earnings.
Last week, a major hack took place on the leading protocol that shook the entire DeFi sector, which involved another project called KelpDAO’s rsETH that also used LayerZero’s bridging technology. Around $292 million was lost in a cyber attack linked back to North Korea.
After this incident, Ethena and many other projects have temporarily paused their LayerZero to ensure the safety of funds. They wanted a clear explanation of what went wrong before letting transfers resume.
During this pause, Ethena has also shared fresh proof of reserves in public, which were also checked by independent auditors, including Chainlink, Chaos Labs, LIamaRisk, and Harris and Trotter. The audit confirmed that every USDe is fully backed by more than 100%.
On April 21, Ethena announced that the bridges are back live across all supported chains. The major improvement involves LayerZero’s Decentralized Verifier Networks, which are like independent security teams that double-check every transfer before it happens.
Before the upgrade, the system needed only 2 out of 2 DVNs to approve a transfer. Now it requires 4 out of 4 DVNs to approve, which is a major step up in security. The hourly transfer limit is still the same at $10 million per hour. This prevents massive outflows even in a worst-case scenario.
Ethena Shows Neutral Technical Setup With Building Positive Momentum
On the daily chart, ENA is in a neutral spot, according to the price chart on TradingView. The oscillators are currently showing a neutral state. On the other hand, the short-term moving averages are giving a buy signal. This means that price has climbed above its recent short-term averages, which suggests that some are creating a positive momentum after the big drop earlier this year.
According to the TradingView price chart, the Relative Strength Index on the 14-day time period frame is revolving around 39. It means that the cryptocurrency is neither overbought nor oversold. In other words, there is still room for the price to move in any direction.
According to the price chart, there is a classic falling wedge pattern. Most of the time, this pattern gives a sign of reversal in the trend that happens after a downward trend when selling pressure starts to reduce.
Apart from this, the chart has also formed a weekly bullish engulfing candle. The token is currently trading inside a longer-term descending channel but making higher lows on a rising trendline on the 4-hour chart.
There are major support levels where buyers have entered before, including immediate support around $0.105. This is also a recent breakout retest area. There is strong support sitting at around $0.078 to $0.10.
On the other hand, there are major resistance levels at around $0.112, which is the first major selling target for traders. If the cryptocurrency manages to soar above this level, the next major resistance levels are sitting at around $0.115 to $0.134.
The crypto market is currently giving mixed signals, where cryptocurrencies like Ethereum show bullish sentiment, while some altcoins face a marginal drop.
