Ethena’s ENA token surged by 13% in 24 hours, reaching a new price level. The protocol’s Total Value Locked (TVL) increased by approximately $160 million to $4.719 billion. However, generated revenue remains extremely low at just $56.91 in the last 24 hours and $21,317 over the past 30 days. Spot market netflows reversed with approximately $100,000 in net inflows after $4.7 million in sales between September 2 and 3. The Open Interest-Weighted Funding Rate dropped from 0.0059% to 0.0023%, suggesting expanding short positions that could weigh on the price.
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