Ethena price pares losses as whales buy after brief USDe peg

Ethena's price has shown resilience after a challenging weekend where its stablecoin, USDe, briefly lost its peg. Despite the pressure, Ethena's token surged by 156% from its lowest point on Friday, currently trading at $0.3670. This rebound is significant as it indicates strong buying interest from large investors, often referred to as whales, which could signal confidence in the token's future performance.