{"id":47844,"date":"2025-09-16T14:47:18","date_gmt":"2025-09-16T14:47:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=47844"},"modified":"2025-09-16T14:47:18","modified_gmt":"2025-09-16T14:47:18","slug":"ena-usd-to-1-ethena-fee-switch-is-a-big-deal","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=47844","title":{"rendered":"ENA USD To $1? Ethena Fee-Switch Is A Big Deal"},"content":{"rendered":"
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As of September 16, three of Ethena Labs\u2019 products were in the top 50. The platform\u2019s native algorithmic stablecoin, USDe, trailed Hyperliquid (HYPE) in the top 20. At the same time, ENA is perched at 41st, flipping Bitget and Pepe. Even though ENA USD might be under pressure in the last week of trading, ENA crypto holders are upbeat and expect a sharp reversal in the coming days.<\/span><\/p>\n

On Coingecko, the ENA price is changing hands at around $0.70, down -15% in the past week of trading but relatively stable in the last 24 hours. Even with this dump, ENA crypto is up +230% year-to-date and trending at around last month\u2019s close, <\/span>soaking in selling pressure<\/span><\/a>.<\/span><\/p>\n

\"ENA<\/p>\n

(Source: <\/span>Coingecko<\/a><\/strong>)<\/span><\/p>\n

Meanwhile, on DefiLlama, Ethena continues to attract more assets. The protocol currently manages over $13.8Bn in assets. Notably, at this level, the total assets under management have rapidly expanded, rising from around $5.4Bn in early July to more than doubling to $13.8Bn, an all-time high as of September 2025. <\/span><\/p>\n

\"ENA<\/p>\n

(Source: <\/span>DefiLlama<\/a><\/strong>)<\/span><\/p>\n

Reflecting this expansion in total value locked (TVL) is the spike in revenue. In Q3 2025, Ethena generated $8.63M in revenue, up from $1.15M in Q2 2025.<\/span><\/p>\n

DISCOVER: <\/span>Best Meme Coin ICOs to Invest in 2025<\/span><\/a><\/strong><\/p>\n

Is ENA USD Preparing For $1? Ethena Bulls Upbeat<\/span><\/h2>\n

Technically, \"enaENA \u25bc-3.34%<\/span><\/a> is bullish. The local support is at around $0.60, while resistance is at September highs of around $0.90.<\/span><\/p>\n

As the ENA price moves sideways, the breakout direction will determine whether it was accumulation or distribution. Ideally, a close above $0.90 opens up ENA crypto to $1, a huge milestone for the stablecoin issuer. <\/span><\/p>\n

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\"ena<\/div>\n
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ethena<\/div>\n
Price<\/div>\n
Market Cap<\/div>\n<\/div>\n
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ENA<\/div>\n
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$10.58B<\/div>\n<\/div>\n<\/div>\n<\/div>\n
24h<\/span>7d<\/span>1y<\/span><\/div>\n<\/div>\n

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It will also confirm the bullish trend that began in early July, when ENA USD jumped from around $0.25 to as high as $0.85 in mid-August 2025.<\/span><\/p>\n

On X, one analyst notes that ENA USDT price action is forming a cup-and-handle formation. This is usually a bullish pattern, and depending on how the double top, marking the cup, is broken, the <\/span>pace of the uptrend<\/span><\/a> will be set.<\/span><\/p>\n

\"ENA<\/p>\n

(Source: eugenegeu, X<\/a><\/strong>)<\/span><\/p>\n

For the analyst, ENA crypto is set for major gains in the coming days, citing several developments.<\/span><\/p>\n

DISCOVER: <\/span>9+ Best High-Risk, High-Reward Crypto to Buy in 2025<\/span><\/a><\/strong><\/p>\n

Ethena Labs Announces A Fee Switch: A New Era For ENA Crypto? <\/span><\/h2>\n

The analyst noted that the announcement of the fee switch on September 15 was at the top of the list.<\/span><\/p>\n

The fee switch proposed in 2024 aims to transform ENA from being a government token into a yield-bearing asset.<\/span><\/p>\n

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The Ethena Foundation can confirm that the fee switch parameters set by the Risk Committee have now been met and the ENA fee switch is expected to be activated following Ethena Risk Committee sign off on the implementation details and further governance process<\/p>\n

The Ethena Risk\u2026<\/p>\n

\u2014 Ethena Foundation (@EthenaFndtn) September 15, 2025<\/a><\/p>\n<\/blockquote>\n