✍️ TL;DR: Ethena’s on-chain activity explodes to historically high levels 📊 Metrics used: Daily Active Addresses, Network Growth 🔗 Link to chart: https://app.santiment.net/charts/ena-active-addresses-network-growth-31850?utm_source=x&utm_medium=post&utm_campaign=ena_active_addresses_network_growth_b_061926&aff=3 🚀 Ethena’s network activity just exploded to levels rarely ever seen. Daily active addresses have surged to their highest level since November 2025, while the number of newly created wallets has reached an all-time high since the protocol’s launch. Traders are increasingly focused on Ethena’s growing role in DeFi and synthetic-dollar infrastructure. Recent discussions have centered on ENA’s proposed buyback-and-burn mechanisms, expanding utility for staked ENA, and continued growth of the USDe ecosystem. 📈 The June 18th surge appears tied to a combination of renewed speculative interest and strengthening fundamentals. Ethena has been one of the few DeFi projects generating significant attention despite a challenging market environment, aided by growing USDe adoption, upcoming restaking initiatives, and governance proposals designed to better connect protocol revenue with ENA holders. When both active usage and new wallet creation accelerate simultaneously, it signals that new users are discovering the ecosystem and existing participants are becoming more engaged. 👍(Santiment Intelligence)