Ethena gains 7% as fee-funded ENA buyback plan takes shape
- —ENA gained 7% to $0.20 on more than $405 million in daily volume
- —Protocol has earned over $1 billion in real fees, with daily fees above $4 million
- —Ethena TVL has grown $1.32 billion since early August
- —Janus Henderson plans to use staked USDe for cash management
Why it matters: A fee-funded buyback could tie ENA's price to the protocol's actual revenue and draw institutional demand.
Source: AMBCrypto