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The cryptocurrency Ethena (ENA) from Ethena Labs suffered a brutal 70% price crash last week.

dropping to about $0.15. While the broader market continued to fall, Ethena has since made a strong recovery.

up more than 13% in 24 hours, trading around $0.45.

The recovery followed reassurance from the team after Ethena’s own stablecoin USDe temporarily lost its peg to the US dollar, falling to $0.65 on Binance due to a technical oracle error. Binance later confirmed the issue and announced a $400 million compensation fund for affected traders.

Investor confidence also returned as StablecoinX reportedly invested hundreds of millions of dollars into Ethena, planning to build long-term exposure. This mix of transparency, technical resolution, and renewed institutional interest has made Ethena one of the strongest performers in the crypto market despite the recent turmoil.

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