Reported 2 days ago
Ethena's governance token ENA experienced a 20% increase to over $0.50, marking its highest value in four months, due to a significant $750 million inflow into the protocol amid a rising trend in cryptocurrency funding rates. The decentralized finance (DeFi) protocol is capitalizing on increased crypto prices, allowing it to offer investors an annualized yield of nearly 10%, which is significantly higher than traditional money market funds.
Source: YAHOO