Ethena ENA on-chain activity skyrockets! Daily active addresses just reached 5,057, registering the highest network utilization since November 2025. This massive user engagement spike represents a multi-month high for the protocol. This network expansion arrives as ENA trades near $0.09. The asset has weathered an extensive 92% valuation pullback since its late 2025 peaks, successfully clearing out short-term speculative premium. A simultaneous surge in network growth and new wallet creation right at these deep-value coordinates represents a divergence. Rather than a sign of trend weakness, this explosive on-chain adoption suggests smart money is actively stepping in, providing the necessary liquidity to potentially form a macro bottom.(Ali Charts)