Ethena price rose 8% to $0.44 on October 17, making it one of the few digital assets trading in green amid a widespread crypto market crash. ENA’s performance stood out as cascading market liquidation saw Bitcoin and Ethereum briefly cede key support levels at $104,000 and $3,700 respectively, on Friday. Why is ENA’s Price Up Today? Notably, Ethena’s native stablecoin USDe, which temporarily lost its peg to the US dollar during the record-setting $19 billion liquidation event on Oct. 10. At the time, USDe ...

Crypto commentators are challenging official data around the Oct. 10 market meltdown, suggesting the true size of the liquidation wave may have reached $300 billion to $400 billion, far higher than the reported $19 billion. Crypto analyst Kelly Kellam argued the crash was “much bigger than reported,” writing on X: “Could be in the $300B–$400B range! Even if it’s half the low side of that → $150 BILLION… Did the ‘trustless – transparent’ narrative just get destroyed?” Binance data questioned amid throttl ...