$ENA is moving, but the bigger story starts with BTC and $ETH . On Bitget, traders can explore ENA through margin or grid strategies, but leverage cuts both ways. BTC strength can support Ethena’s basis-trading engine by improving funding opportunities, while an ETH/DeFi recovery can increase activity and demand across the ecosystem. That’s part of why the reported $1B FalconX institutional credit partnership and TVL recovery toward 4.4B are getting attention. Meanwhile, ENA has jumped 40%+ in 24h, with volume above $800M. After such a sharp move, I’d rather watch BTC and ETH for confirmation than blindly chase ENA. If BTC keeps trending higher and ETH/DeFi continues recovering, ENA could have room to extend. If the majors weaken, I’d be more cautious on the trade. #Altcoin Season# #ENA