As reported by Blockchainreporter, Ethena Labs' token ENA generated $4.85 million in fees over a 24-hour period, ranking third on a leaderboard typically dominated by stablecoin giants like Tether and Circle. The data, highlighted by crypto account Satoshi Club, showed Ethena outpacing protocols such as Pump, Lido, and Hyperliquid. Analysts suggest the spike could be due to trading activity, token distribution events, or changes in fee structures. Traders and on-chain watchers remain divided on whether the surge reflects genuine adoption or a temporary anomaly.
Ethena Labs Surpasses Major Protocols with $4.85M in Daily Fees
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