Ethena Labs Approaching Fee Switch Activation with USDe Surge, Impacting DeFi Dynamics

Ethena Labs is nearing the activation of a fee switch for ENA holders following a significant surge in USDe supply. This milestone could reshape the DeFi landscape and impact ENA token value. 42% growth has pushed USDe to $12.43 billion, placing it as the third-largest USD stablecoin, only behind USDT and USDC. This expansion is closely linked to Ethena Labs’ upcoming profit-sharing model for ENA holders.