Bithumb Lists Ethena (ENA) Token

ENA Trading Details:

• Supported Market: KRW Market
• Supported Network: Ethereum (Deposits from other networks will not be supported)
• Deposit/Withdrawal Start: Within three hours of the announcement
• Trading Start: February 25, 2025, at 9:00 PM KST
• Initial Price: 536 KRW
• Deposit Confirmation Requirement: 33 confirmations

Bithumb has also introduced temporary restrictions for the launch. Buyers will not be able to place orders in the first five minutes of trading, and sell orders will be limited to a range of -10% to +100% of the base price during this period. Automated trading will only be available after the first transaction is completed.

Last year, ENA was listed on another major South Korean exchange, Bybit, on April 2, 2024, where it is traded against USDT.

Listings on major crypto exchanges such as Bybit and Bithumb typically trigger a sharp increase in the price of the associated cryptocurrency. However, ENA has experienced only a modest rebound, recovering some of its losses from the previous day but still showing a 7.5% decrease in the last 24 hours.

ENA’s subdued price movements mirror the broader slump in the crypto market, with the $1.4 billion Bybit hack and ongoing macroeconomic concerns driving traders to seek safer investments.

Despite the recent downturn, analysts remain optimistic about ENA’s long-term potential.

What is Ethena (ENA)?

Ethena (ENA) is a synthetic dollar protocol developed on the Ethereum blockchain network. Launched in February 2024, this protocol operates similarly to stablecoin projects, with its primary goal being to enable the use of fiat currencies in the blockchain space and to serve as a bridge between the dollar and cryptocurrency.

The Ethena ecosystem consists of cryptocurrencies like USDe and ENA, as well as a product called Internet Bond.

Why is Bithumb Important?

As one of South Korea’s largest cryptocurrency exchanges, Bithumb stands out for its user-friendly interface and extensive service offerings. It supports crypto bot trading, provides accounts for institutional investors, grants access to liquidity pools, and offers passive income opportunities. Bithumb also provides 24/7 customer support.

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