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![GLC_Research Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1793653021991215104.png) GLC [@GLC_Research](/creator/twitter/GLC_Research) on x 6787 followers
Created: 2025-07-21 07:12:26 UTC

Fascinating chart from @JustDeauIt highlighting the reflexivity between $ENA and $ETH open interest !

$ENA sits at the crossroads of several major narratives: $ETH, stablecoins, yield-bearing stablecoins, and TradFi.

With the fee switch on the horizon, it’s no surprise $ENA has been a high-beta proxy of these trends. 

It’s up XX% over the past month.

![](https://pbs.twimg.com/media/GwXPvveWMAA8hfn.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947192929530843241/c:line.svg)

**Related Topics**
[has been](/topic/has-been)
[ena](/topic/ena)
[stablecoins](/topic/stablecoins)
[narratives](/topic/narratives)
[$eth](/topic/$eth)
[$ena](/topic/$ena)
[coins defi](/topic/coins-defi)
[ethereum](/topic/ethereum)

[Post Link](https://x.com/GLC_Research/status/1947192929530843241)