Ethena Surges 65% as $1 Billion Lending Deal and Arthur Hayes' Calls Ignite Frenzy

Ethena's price surge has been nothing short of spectacular, reaching an intraday high of approximately $0.1448 after gaining a whopping 65% in just seven days.

The catalyst for this rapid ascent can be attributed to a $1 billion lending deal with FalconX and the bullish calls from BitMEX co-founder Arthur Hayes.

Ethena's price has traded near $0.140 at press time, up about 20% on the daily chart, breaking through several resistance levels in less than three days.

The immediate catalyst was a $1 billion secured warehouse facility announced by FalconX and Ethena, allowing assets backing Ethena's USDe synthetic dollar to fund overcollateralized loans to institutional borrowers.