The DeFi Stablecoin Steals the Spotlight 🔥

In just 20 days, Ethena’s synthetic stablecoin USDe added over $3.1B in supply — overtaking the combined inflows into BlackRock’s Bitcoin (IBIT) and Ether (ETHA) ETFs.

📈 Total USDe Supply: $8.4B+

💥 Fastest growth since launch (Feb 2024)

🔁 Powered by a reflexive loop: Rising BTC/ETH prices = Higher yields = More USDe demand

🎯 Ethena captures funding through delta-neutral hedges and pays out real-time yield to holders. This is attracting massive liquidity across both DeFi and traditional markets.

🔺 $ENA token (Ethena governance) jumped +120% in the past month, as the protocol nears revenue distribution to stakers. Still, ENA dipped -12% in the last 24h amid fee switch speculation.

💰 Recent Metrics:

$50M+ in monthly protocol fees

$10M+ in monthly revenue

Ranked #6 in fee revenue (via DeFiLlama)

Ethena$ is now leading the charge in DeFi-native stablecoins, showing that real yield — not just hype — is bringing in the big capital.

📊 $ENA currently trades at $0.58