According to @MilkRoadDaily, ENA is up 26% over the past 30 days despite the broader crypto market dumping, highlighting clear relative strength for traders monitoring momentum and market breadth. Source: @MilkRoadDaily. According to @MilkRoadDaily, Ethena Labs generated $53M in revenue over the last 7 days, nearly 2x Hyperliquid, underscoring strong protocol cash flow that can underpin fundamentals-focused positioning. Source: @MilkRoadDaily. According to @MilkRoadDaily, USDe supply has grown 4.6x year over year to $12.4B, signaling expanding stablecoin scale within the Ethena ecosystem that traders may track as a liquidity indicator. Source: @MilkRoadDaily.

According to Ai 姨 (@ai_9684xtpa), the recent surge in USDe supply by $300 million in the past week, bringing the total to $4.98 billion, aligns with strong rebounds in Bitcoin (BTC) and Ethereum (ETH) prices and rising funding rates for major perpetual contracts. This rapid USDe supply expansion, last seen during the January market rally, is considered a concrete bullish signal for overall crypto market recovery. Traders are monitoring USDe supply growth as a reliable on-chain indicator for renewed market momentum, suggesting increased capital inflow and leveraged trading activity. Source: Ai 姨 (@ai_9684xtpa) on Twitter, May 19, 2025.