ENA Price Rally Fails to Translate into Revenue Growth

Ethena's price surged by 13% over the past 24 hours, but this growth may not be entirely justified. According to DeFiLlama data, the Total Value Locked (TVL) in Ethena increased by $160 million, reaching $4.719 billion at press time.

This increase suggests growing interest in the asset, but Ethena's revenue remains minimal, with just $56.91 generated in the last 24 hours and a total of $21,317 over the past 30 days.

The spot market bid is also worth noting, as it has seen a gradual turnaround from the previous two days when traders sold roughly $4.7 million worth of Ethena between 2-3 September.