Binance’s $24M ENA recovery effort – Can Ethena extend its 16% rally?

Following the Binance hacking incident, Ethena [ENA] fell to a low of $0.16. The altcoin crashed as investors grew concerned about Ethena and Binance's extended partnership, especially in the Real-World Assets (RWA) sector. However, the slip proved short-lived as ENA bounced back and flipped the $0.19 resistance. At press time, Ethena was trading around $0.193, up 3.7% on the daily charts. However, the Spot Volume fell 55%, reflecting reduced market activity. Binance buys $24M in recovery effort After Binance was hacked, the attacker stole 217.5 million ENA, worth $33.9 million, and dumped all the stolen tokens.