Ethena Surges to Third in Daily Revenue, Boosting ENA Token
Ethena has climbed to the third spot in daily revenue among major crypto protocols. it now trails only Tether and Circle. The Ethereum-based stablecoin protocol has earned around $3.28 million in the past 24 hours. This achievement has pushed its native token, ENA, up by 4%.
Data from DeFi Llama shows Ethena’s rise. The protocol’s stablecoin, USDE, has a market cap of $5.4 billion. Its 24-hour trading volume jumped 23.6%, reaching $63 million. Despite this, it still lags behind Tether and circle.Tether leads with $18.31 million in daily fees, while Circle collects $6.12 million. Ethena’s success comes from its stablecoin, USDE. USDE’s circulating supply is 5.4 billion tokens.
Ethena outperforms PancakeSwap, Jupiter, Meteora, Uniswap, and Tron. PancakeSwap earned $2.54 million, and Jupiter made $1.99 million. Ethena’s ENA token now has a market cap of nearly $2 billion.
USDE’s market cap stands at $5.4 billion. The protocol recently invested $200 million in BlackRock’s BUIDL fund. Last December, Ethena launched USDtb, a yield-producing stablecoin. This makes it an attractive option for passive income seekers.
Ethena’s daily revenue surpasses other big names like PancakeSwap and Jupiter. The protocol’s success is due to its innovative approach. USDtb, its second stablecoin, is backed by BUIDL, a tokenized U.S.Treasury fund. This move has increased its supply rapidly. Unlike conventional stablecoins, USDtb offers passive income. this feature attracts manny investors.
Ethena’s fees come from USDE transactions. The protocol’s ENA token saw a 4% rise. The token’s trading volume hit $282 million. Ethena’s fees are still lower than Tether and Circle. Though,it has overtaken others like Uniswap and Tron. Ethena’s fees are generated from USDE transactions. The protocol’s fees are still growing.Ethena’s fees are now third highest, behind Tether and Circle. The protocol’s fees are a sign of its growing popularity.The protocol’s fees are a testament to its growing user base. Ethena’s fees are a sign of its growing popularity. The protocol’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity.Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity.Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity. Ethena’s fees are a sign of its growing popularity.
