Why is ENA up 5.34% Today, August 3, 2026? High Turnover Meets an August 5 Supply Test

ENA outperformed a mildly risk-off crypto tape, rising 5.34% on heavy turnover (~$164.7M), suggesting positioning or short-term liquidity-driven demand rather than a confirmed fundamental catalyst. Focus shifts to the Aug. 5 token unlock (~171M ENA, ~$15.4M; ~2% of circulating supply), where concentrated ownership heightens sensitivity to exchange inflows and order-book depth, potentially increasing volatility around the release.