ENA Price Falls 10% Despite Ethena Growth as $1.52 Target Emerges

Ethena’s ENA token has dropped more than 10% in October even as the protocol expanded through new launches, partnerships, and rising USDe adoption, with the decline occurring against a broader crypto market selloff. The token’s weakness contrasts with Ethena’s business momentum, and a long-term bullish forecast has set a $1.52 target for ENA. The divergence matters because it suggests token holders are not yet pricing in the protocol’s growth, leaving ENA exposed to market-wide risk sentiment. Traders will watch whether USDe adoption and partnership activity translate into renewed demand for ENA, and whether the $1.52 target gains traction as a longer-term objective.