Ethena (ENA) has outperformed all top 100 cryptocurrencies, posting a nearly 9% increase to $0.47 in the past 24 hours. This surge comes amid bullish market signals and significant investments, including a $25 million purchase by Ethena founder Guy Young. Additionally, Mechanism Capital co-founder Andrew Kang has maintained a strong long-term position in the token. In related developments, Ethena's stablecoin, USDe, has solidified its status as the third-largest stablecoin, boasting a market capitalization exceeding $12 billion. This growth highlights the increasing confidence and investment in Ethena's ecosystem.