Ethena’s TVL and ENA Price Soar Impressively Over the Past Month
Ethena’s total value locked saw a remarkable rise of 50% last month. Data from DeFiLlama reveals that Ethena’s TVL reached $8.44 billion by late July, up from $5.46 billion just a month prior.
This significant growth in TVL has translated into commendable price gains for ENA tokens. Traders are eagerly following this upward trajectory. ENA has proven to be a solid performer in this time frame.
for those still unfamiliar, TVL measures how much money is currently staked or deposited in(defined) decentralized finance platforms. An increase usually indicates investor confidence in a platform’s potential and stability.
Ethena continues to attract more users due to various factors like improvements in its services and new partnerships. With promising innovations on the horizon, identical growth may continue for some time. Stay tuned.
To stay informed on these developments, keeping updated with financed news sites is important.
