Keynote
Kraken Exchange has announced its upcoming USDE Stablecoin listing for its 1.7 million followers for the US regulated market. USDE took over 4.5% of the global Stablecoin market at press time with a market capitalization of $14.4 billion.
Ethena
Ena
$0.60
24-hour volatility:
1.5%
Market Cap:
$4.15 b
Vol. 24H:
$399.82 m
A synthetic dollar protocol built on the Ethereum blockchain. That native token Ena caught the attention on Tuesday, September 23rd, after staging a 5% daytime rally despite bearish sentiment that is spreading across the crypto market.
Ethena (ENA) Prices Raise 5% to Kraken Movement List USDE Stablecoin | Source: CoinMarketCap, September 23rd
The bounce was followed by five consecutive days of losses, with ENA down more than 20% as the Fed’s September 18 interest rate cuts triggered demand for USD page assets. At the time of pressing, ENA had risen 5% to recover the $0.61 level despite a 32% drop in trading volume over the past 24 hours.
Market report links rebounds to Kraken Exchange, bullying the list of esena’s USD page stubcoin USDE in the US regulated market. Exchange warned 1.7 million followers in the USDE market from X on Tuesday that it was “coming soon.”
Kraken will come soon
$ usde by @ethena_labs
Get ready⤵️https://t.co/9qbax6jm1h pic.twitter.com/lsvg8mogqa
– Kraken (@krakenfx) September 23, 2025
YZI Labs Investment (formerly Binance Labs), which further highlighted its institutional support, recently increased its Ethena stake and reflected a strengthening shareholder trust as the US regulatory stance on Stable Coin has softened in recent months.
Meanwhile, USDE’s market capitalization rose to $14.4 billion at the time of reporting, capturing 4.5% of the $300 billion Stablecoin market, according to data from CoinMarketCap. Kraken’s listing is expected to accelerate US adoption and could further increase USDE market share in the coming months.
ENA Price Prediction: Can a $0.60 rebound stop a five-day loss?
Ecena’s inner rebound is rebounded to $0.60. This is placed on the course to stop the winning streak on the fifth consecutive day. The Keltner channel shows that ENA merged near the lower limit for $0.58, with the initial selling barrier watching at the $0.68 level.
Beyond that level, the parabolic SAR will bring the next resistance overhead to $0.74, reinforcing the market momentum remains dominantly bearish in the short term.
Ethena (ENA) Technology Price Analysis | Source: TradingView
MACD remains in bearish territory, but the histogram bar is narrower, hinting at the possibility of a bullish crossover if momentum is built. If Bulls postponed near $0.60, you can set a stage for pushing to $0.69.
However, the risk of a $0.60 risk has been updated towards the $0.55 support zone where the Keltner band below provides the next safety net.
For now, does sentiment depend on whether the Kraken list catalyst attracts sustained purchasing pressure or speculative traders choose to book early profits as volumes drop further along the dip in the broader crypto market.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
Ibrahim Ajibade is a veteran research analyst with a background in supporting a variety of Web3 startups and financial organizations. He holds a bachelor’s degree in economics and currently holds a master’s degree in blockchain and distributes ledger technology at the University of Malta.
Ibrahim Ajibade on LinkedIn
