ENA, the native cryptocurrency of the Ethena synthetic dollar protocol, based on Ethereum, has risen by 15% in the last 24 hours, and its stablecoin, USDtb, has become the third largest in the category, after Tether's USDT and Circle's USDC. On-chain data shows a massive 75% increase in the supply of USDe on Ethereum over the last month, indicating strong demand in the decentralized finance (DeFi) sector. The price of Ethena is trading above $0.61 again after today's rise.
