Ethena ($ENA) may be one of the most outstanding tokens in the past period of time.
Bitget market shows that since hitting the bottom at 0.194 USDT in early September, until yesterday's rebound to 1.33 USDT, $ENA has achieved a nearly 600% increase in the past two months.
There are many answers to the reasons:
For example, the contract funding rate rose in the bull market, driving Ethena's protocol revenue to rise sharply, and the supply of USDe also grew significantly; for example, the Trump family project World Liberty's purchase support for $ENA; and the expectation of opening the $ENA fee switch promoted by Wintermute; plus the direct cooperation with BlackRock BUIDL, the launch of a new stablecoin product USDtb... In addition, the expectation of an open airdrop for holding and staking $ENA is also seen as a key reason for the continued rise of the token.
Previously, two projects with a high degree of business relevance to USDe, Ethereal and Derive (formerly Lyra), have officially announced that they will airdrop to sENA holders (i.e. $ENA staking users), of which Ethereal plans to airdrop 15% of the token supply and Derive plans to airdrop 5% of the token supply. Currently, users who hold sENA on the chain can directly view the "mining" status of these two projects on the Ethena homepage.
