There are many cryptocurrencies competing for the first 10 position rank. Ethena seems to be working tirelessly to be in that space. It appears to be building something that could truly reshape a key part of the crypto economy stablecoins.
Crypto analyst Not Telling believes Ethena (ENA) is set for a breakout that could push it into the top 10. His confidence doesn’t come from blind optimism but from what he describes as a “stablecoin-as-a-service flywheel.” According to him, once this model gains traction, it will be hard to stop.
What you'll learn 👉
Why the Analyst Believes ENA Price Could Climb to the Top
Not Telling explained on X that the core driver behind his bullish stance on the ENA token is Ethena’s stablecoin infrastructure. He pointed out that Ethena has solved long-standing problems that have limited growth in the stablecoin space.
In the current crypto landscape, stablecoins generate yield but that yield usually benefits the issuer, not the ecosystem that drives their use. Many blockchain networks want to create their own stablecoins but lack the funding, expertise, or tools to do it right. Ethena seems to have addressed all these pain points.
🚨 $ENA is going to top 10 and its going to be attributed to their Stablecoin-as-a-service offering
— Not Telling (@nottellingyou73) October 23, 2025
Once you understand it, it becomes obvious
They’re starting an adoption flywheel like I’ve never seen before
So what’s the stablecoin-as-a-service flywheel? 👇
First let’s look… https://t.co/FccqUNpLHj
Ethena provides a full stablecoin technology stack that any partner can use. As new partners join the Ethena ecosystem, they bring users, liquidity, and trading volume. This growth increases total value locked (TVL) in Ethena’s stable assets $USDe and $USDtb which, in turn, enhances liquidity and generates higher yields. The cycle then repeats, fueling further growth and strengthening the value of ENA.
Not Telling emphasized that this self-reinforcing loop the “flywheel” is what sets Ethena apart. He even mentioned that G|Ethena , a key figure behind the project, reportedly bought back $25M worth of ENA on the open market, signaling strong conviction in the project’s long-term direction.
Ethena’s Whitelabel Solution Expands Its Reach
Ethena Labs just introduced the Ethena Whitelabel, which extends its stablecoin-as-a-service model to other chains, wallets, exchanges, and decentralized apps. The idea is simple but powerful: any platform can now launch its own stablecoin using Ethena’s proven technology while keeping part of the earnings that come from the backing assets.
This creates a new revenue channel for partner networks and applications while driving demand for Ethena’s own products. Some of the early adopters include MegaETH Labs, Sui Network, and Jupiter Exchange, strong names that bring credibility and reach.
Ethena Labs shared that their Whitelabel product offers several core benefits. Partners can choose between USDe and USDtb as backing assets, giving them flexibility and different return profiles. The system is also quick to deploy, meaning projects can go to market almost instantly.
Ethena Whitelabel allows the developer of any chain, application, wallet or distribution that owns the end consumer to build their own stablecoin with Ethena.
— Ethena Labs (@ethena_labs) October 17, 2025
In this setup, the partner retains a portion of the economics from the backing assets, enabling revenue to flow back to… pic.twitter.com/Lj8CXLskEe
Ethena’s experience is another major advantage. The team has managed more than $25B in mint and redeem flows with zero downtime, a track record that inspires confidence in both institutional and retail users.
The Whitelabel also opens up new opportunities for partners. Wallets can use it to generate yield from idle assets. Perpetual DEXs can unlock capital to fund traders and liquidity programs. Prediction markets and neobanks can use it to make their ecosystems more productive. Every new integration strengthens Ethena’s network and drives value back to ENA.
How the ENA Token Fits Into the Bigger Picture
The Ethena token sits at the heart of this growing ecosystem. As TVL increases through new Whitelabel partnerships, demand for ENA rises. The token captures value from the activity and liquidity within Ethena’s network.
Not Telling believes this setup could be the key reason Ethena climbs into the top 10. The more adoption the Whitelabel achieves, the more the ecosystem grows and that momentum feeds directly into ENA’s long-term potential.
While the market is full of tokens promising big things, few have built a model this integrated and scalable. Ethena seems to have found a way to align incentives for all participants, partners, users, and token holders.
Read Also: The Real Reasons XRP, ADA, and Altcoins Are Yet to Pump
Ethena is no longer just another DeFi project. It’s positioning itself as the backbone for how stablecoins work across multiple blockchains and applications. As its Whitelabel network expands, Ethena’s total value locked could rise sharply, bringing more liquidity and utility to both USDe and USDtb.
The bigger picture points to an ecosystem that grows naturally, not one that relies on speculation alone. Each new partnership adds real use cases and revenue potential, making Ethena a project to watch closely.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
