ENA's network activity surged to its highest level in months

following a roughly

↗1.5%

weekly price gain, while trading participation showed mixed signals across key metrics.

Network usage reaching new highs

Daily active addresses on the blockchain reached 5,057, marking the highest network usage in months

as the asset

. This represents the strongest on-chain engagement the network has seen in recent months.

Trading volume expanding

Weekly trading volume rose roughly

↗5.8%

over the past week, though daily trading participation declined approximately

↘35%

over the past 24 hours. Sellers outnumbered buyers by about 1.4 times over the past 24 hours.

Leveraged positions unwinding

Traders closing long positions exceeded those closing shorts by roughly 3.1 times over the past 24 hours, reflecting unwinding of leveraged bets. This shift in positioning occurred despite the weekly price gain.

Protocol value remains elevated

The protocol holds approximately $4.2 billion in locked value, about 5.6 times larger than its market size, indicating significant usage relative to its current valuation.