Coinbase, one of the leading cryptocurrency exchanges, officially includes ENA, the native token of Ecena, on its list roadmap.
The announcement led to a slight rise in Asian trade hours on Tuesday at 8.6% on Tuesday.
Coinbase adds ENA to the list of roadmap
In a statement shared via X (formerly Twitter), Coinbase Assets confirmed the inclusion of Ethena (ENA). In this post, I specified that the ERC-20 contract address for the token is 0x57E114B691DB790C35207B2E685D4A43181E6061.
Nevertheless, Exchange has revealed that the initiation of an ENA transaction depends on certain terms. These include increased support for market production and the development of appropriate technological infrastructure.
Coinbase says it will issue another announcement once these requirements are met, ensuring smooth integration of traders. ENA is currently participating in QCAD (QCAD) on Coinbase’s list roadmap, but the list is not exhaustive.
“Transfers and trading are not supported for these or other assets until these assets are officially announced before the official announcement leads to permanent loss of capital,” the exchange said.
Following the news, ENA prices rose from $0.312 to $0.338, with an 8.6% rating. However, the profits generated by this announcement soon subsided. Beincrypto data showed that the ENA had dropped to $0.329 at the time of writing.
ENA’s trading volume also increased sharply. It reached $254 million in the last 24 hours, representing a 91.7% increase. This shows the growing market activity and investor interest.
The observed activities are very typical of previous Coinbase roadmap announcements, and such news often leads to price increases. However, despite the general trends, ENA benefits were relatively modest compared to other assets such as Tokenbot (Clanker), Doginme (Doginme), or Freysa AI (FAI), which experienced a more significant surge after similar additions.
The timing of Coinbase’s announcement coincides with a critical moment for Ethena. Earlier on Monday, more than 40 million ENA tokens worth around $12 million were unlocked, raising concerns about potential sale.
Contrary to expectations, the tokens were stable. Beincrypto emphasized that ENA only slipped 1% in the aftermath of unlocking.
Postcoinbase added Ethena (ENA) to its roadmap list, first making its appearance with a price surge of 8.6%.
