Ethena Price Rises 4-5% Amid Expansion and Tokenomics Push

Ethena's (ENA) price has risen by 4-5% in recent days, driven by renewed attention to its expansion and tokenomics. The project has deployed USDe and sUSDe natively on TRON via Stargate Finance, with integrations into TRON DeFi such as JustLend DAO.

Ethena Pay, a self-custodial consumer app, is expanding its beta and preparing to launch crypto Visa cards in the US, UK, and Europe. The project is positioning itself as a 'neobank' style financial stack around synthetic dollars.

The same high-visibility X thread presents ENA's tokenomics in a way that appeals to value accrual-focused traders. Around 95% of net protocol revenues are allocated to programmatic ENA buybacks, tied to USDe supply milestones.