Ethena Price Climbs as TVL and Revenue Surge: Double-Digit Growth Drives Market Rally

Ethena has experienced significant growth in 2025, with its Total Value Locked (TVL) skyrocketing from $5.5 billion to a staggering $12.85 billion. This surge is largely driven by the adoption of its USDe synthetic stablecoin among nearly 800,000 users and significant growth in the platform’s ecosystem. StablecoinX, a key player, has raised $895 million in funding, accumulating over 3 billion ENA tokens, which further fueled demand and propelled market valuations to new heights.