Ethena (ENA) price jumped 25% to $0.37 after Upbit, South Korea's largest cryptocurrency exchange by volume, announced its listing of the token. Trading volume surged over 300% as ENA broke above the upper trendline resistance of a descending triangle pattern that had formed since mid-May—a bullish reversal signal confirmed by high-volume momentum.
The listing, effective July 11, 2025, enables trading for ENA/KRW, ENA/BTC, and ENA/USDT pairs, with deposits and withdrawals exclusively supported on the Ethereum network. Initial trading restrictions include a 5-minute buy-order freeze and exclusive limit orders for the first two hours.
This surge mirrors Upbit's recent altcoin listings like Hyperlane (HYPER), which gained 100%+ post-listing. ENA's resilience is notable amid substantial token unlocks—including a recent 171M ENA ($63M) release—yet the token maintained key support at $0.24. Technical analysis suggests reclaiming $0.30 support could catalyze a move toward $0.46 resistance, bolstered by Bitcoin's concurrent all-time high above $118,000.