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ENA USD To ? The Ethena Fee-Switch Is Significant
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ENA USD To $1? The Ethena Fee-Switch Is Significant

Sep 16, 2025

As of September 16, three products from Ethena Labs were ranked in the top 50. The platform’s proprietary algorithmic stablecoin, USDe, followed Hyperliquid (HYPE) within the top 20. Concurrently, ENA holds the 41st position, overtaking Bitget and Pepe. While ENA USD has faced some challenges in the past week of trading, holders of ENA crypto remain optimistic, anticipating a significant turnaround in the near future.

On Coingecko, the ENA price is trading at approximately $0.70, down -15% over the previous week but fairly stable in the last 24 hours. Despite this decline, ENA crypto has surged +230% year-to-date and is popular near last month’s close, experiencing selling pressure.

ENA USD could be priming for a major surge to $1 now that Ethena is rapidly growing and the Risk Committee says its time for a fee switch

(Source: Coingecko)

In other announcement, DefiLlama indicates that Ethena is consistently drawing in more assets. The network currently oversees over $13.8Bn in assets. Remarkably, at this stage, the total assets under management have swiftly grown, climbing from approximately $5.4Bn in early July to more than double that, reaching a record high as of September 2025.

ENA USD could be priming for a major surge to $1 now that Ethena is rapidly growing and the Risk Committee says its time for a fee switch

(Source: DefiLlama)

This surge in total value locked (TVL) is reflected in revenue growth. In Q3 2025, Ethena achieved $8.63M in revenue, a significant increase from $1.15M in Q2 2025.

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Is ENA USD Getting Ready For $1? Ethena Enthusiasts Bullish

On a technical level, ena logoENA ▼-3.34% exhibits optimistic tendencies. The local price floor level hovers around $0.60, with price ceiling observed at September’s peak of approximately $0.90.

As the ENA price remains steady, the breakout direction will indicate whether it was accumulation or distribution. Ideally, a close above $0.90 would position ENA crypto towards $1, a significant milestone for the stablecoin issuer.

ethena
Price
Crypto market Cap
ENA
$10.58B
24h7d1y

This will also affirm the uptrend trend that initiated in early July when ENA USD rose from about $0.25 to as high as $0.85 by mid-August 2025.

On X, one analyst highlights that the ENA USDT price movement appears to be forming a cup-and-handle pattern. Typically seen as a bullish setup, the break of the double top, which marks the cup, will determine the momentum of the upward trend.

ENA USD could be priming for a major surge to $1 now that Ethena is rapidly growing and the Risk Committee says its time for a fee switch

(Source: eugenegeu, X)

According to the analyst, ENA crypto is poised for significant advancements soon, pointing out multiple positive developments.

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Ethena Labs Declares Fee Switch: A New Chapter For ENA Crypto?

The analyst emphasized that the news of the fee switch on September 15 was significant.

The proposed fee switch for 2024 intends to convert ENA from being a government crypto token into an asset that generates yield.

With the initiation of the fee switch, Ethena will designate a portion of its revenue to ENA stakers.

Previously, the fees accrued from delta-neutral strategies were reinvested into ENA buybacks and ecosystem development.

Henceforth, Ethena Labs will direct between +10% and +20% of fees straight to sENA holders, or ENA stakers, providing annualized returns between +4.5% and +15%.

The upcoming steps involve the Risk Committee finalizing the particulars, particularly the precise revenue division. Subsequently, ENA holders will take a vote on these proposals.

If passed, the fee switch could initiate more ENA buybacks, thereby lowering supply and elevating prices. In the meantime, ENA stakers will benefit from a favorable yield derived from Ethena’s stablecoin operations.

Adding to this momentum, StablecoinX, the DAT accumulating ENA, has enhanced its buyback initiative from $5M to $10M daily, ramping up its purchasing strategy as long as ENA USD stays below $0.70.

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ENA USD To $1? Ethena Fee-Switch Is A Significant Development

  • ENA crypto facing challenges, yet traders remain bullish 
  • ENA USD has the potential to rise above $1 
  • Ethena’s TVL is experiencing rapid growth 
  • Risk Committee indicates readiness for a fee switch 

The post ENA USD To $1? Ethena Fee-Switch Is A Significant Development appeared first on 99Bitcoins.

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