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- Ethena’s revenue skyrocketed over 48x in Q3, pushing the ENA price up more than 7% amid growing DeFi adoption.
- Monthly revenue jumped 243% in August, helping cumulative revenue surpass $500 million and boosting investor confidence in ENA.
The latest progress from the crypto market shows how Ethena (ENA) has managed to steal the spotlight with its outstanding performance.
At the time of writing, ENA is trading at about $0.6972, up 7.74% in the last 24 hours, 10.67% in the last 7 days, and 26.16% in the last month.
These figures clearly indicate that investors are starting to pay closer attention to this project, especially after the revenue report, which has skyrocketed in such a short period of time.
Ethena Joins Tether and Circle in Top Three Revenue Leaders
The latest data from DeFiLlama shows that Ethena’s annual revenue has now reached $947.19 million. In fact, in the last 30 days alone, it reached $77.64 million, then in the last 7 days, it reached $53.42 million, and in just the last 24 hours, it has reached $17.45 million.
Cumulatively, the total revenue since its inception has exceeded $176.45 million. This figure is quite remarkable for a DeFi protocol that hasn’t been around for very long.
What has stunned many is the quarterly report, which shows an almost unbelievable surge. In the second quarter of 2025, Ethena’s revenue was only $1.82 million, but in the third quarter, it skyrocketed to $87.94 million. This represents a more than 48-fold increase in just one quarter.
Furthermore, if we look at the monthly data, revenue in July 2025 was still around $9.46 million, then in August, it suddenly jumped to $68.49 million. This represents a 243% increase in just one month.
This situation also places Ethena among the top three protocols with the highest weekly revenue, second only to Tether and Circle.
Over the past week, the protocol generated approximately $36.01 million, automatically placing it above many other big names in the DeFi space. Furthermore, Ethena’s cumulative revenue by the end of August 2025 had surpassed $500 million, marking a significant milestone in the project’s journey.
From BNB Support to TON Staking, USDe Ecosystem Grows Stronger
Furthermore, last August, the CNF reported that BNB had been officially accepted as collateral for the USDe stablecoin. This decision stemmed from a selection process through a new framework called the Eligible Asset Framework, designed to ensure that collateralized assets meet certain standards.
This move undoubtedly increased market confidence in the stability and flexibility of USDe, which is based on the Ethena ecosystem.
Previously, in May 2025, Ethena also successfully expanded its reach by integrating a crypto savings service into the TON wallet.
This integration allows users to stake directly from the Telegram app, without the hassle of using a bridge or centralized exchange. The tsUSDe rewards have made this service even more attractive, especially since access is much simpler and more convenient.
