Coinbase, one of many main cryptocurrency exchanges, has formally included Ethena’s native token, ENA, in its itemizing roadmap.
The announcement led to a modest value enhance of 8.6% in ENA throughout Tuesday’s early Asian buying and selling hours.
Coinbase Adds ENA To Listing Roadmap
In a press release shared through X (previously Twitter), Coinbase Assets confirmed the inclusion of Ethena (ENA). The submit specified that the token’s ERC-20 contract tackle is 0x57e114B691Db790C35207b2e685D4A43181e6061.
Nevertheless, the alternate clarified that the commencement of ENA trading will depend on sure situations. These embody elevated market-making help and the event of adequate technical infrastructure.
Coinbase talked about it will difficulty a separate announcement as soon as these necessities are fulfilled, guaranteeing a clean integration for merchants. ENA now joins QCAD (QCAD) in Coinbase’s itemizing roadmap, though the checklist is just not exhaustive.
“Transfers and trading are not supported for these or any other assets until a listing is officially announced. Depositing these assets into your Coinbase account before an official announcement may lead to permanent loss of funds,” the exchange said.
Following the information, ENA’s value jumped from $0.312 to as excessive as $0.338, marking an appreciation of 8.6%. However, the positive factors generated by this announcement subsided shortly after. BeInCrypto knowledge confirmed that ENA dropped to $0.329 on the time of writing.
The trading volume for ENA also surged. It reached $254 million within the final 24 hours, representing a 91.7% enhance. This indicated heightened market exercise and investor curiosity.
The exercise noticed is sort of typical of earlier Coinbase roadmap bulletins, the place such information typically results in a value rise. However, regardless of the overall development, ENA’s positive factors have been comparatively modest compared to other assets like TokenBot (CLANKER), doginme (DOGINME), or Freysa AI (FAI), which experienced more significant surges after an analogous addition.
The timing of Coinbase’s announcement aligns with a important second for Ethena. Earlier on Monday, over 40 million ENA tokens, valued at roughly $12 million, have been unlocked, elevating issues a few potential sell-off.
Contrary to expectations, the token held regular. BeInCrypto highlighted that ENA only slipped by 1% within the aftermath of the unlock.
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