$ENA $ETH ENA Rises 15% as Ethena Labs Increases Staking Rewards
Users who lock 50% or more of their ENA relative to their balance of USDe will receive a reward boost of
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50%.
ENA is trading at $1.26, having almost doubled since its debut last week.
Large holders have been withdrawing funds from Binance and staking to capitalize on the reward increase.
ENA, the native token of Ethena Labs, surged by 15% on Monday following the announcement of "season 2," which includes a 50% increase in rewards for a portion of users.
The token is currently trading at $1.26 after debuting at $0.64 last week, according to CoinMarketCap. Ethena Labs is a decentralized finance (DeFi) protocol behind the yield earning USDe stablecoin.
