Ethena Labs has emerged as one of the standout projects in the crypto space this year, showcasing remarkable growth in Total Value Locked (TVL). The project has achieved significant milestones, reflecting a staggering +875% increase ($2.11 billion) in TVL over just 57 days, followed by an additional +57% ($1.3 billion) […]

Ethena Labs: Impressive TVL Growth Driven By Strategic Milestones

Ethena Labs has emerged as one of the standout projects in the crypto space this year, showcasing remarkable growth in Total Value Locked (TVL).

The project has achieved significant milestones, reflecting a staggering +875% increase ($2.11 billion) in TVL over just 57 days, followed by an additional +57% ($1.3 billion) rise in the next 54 days.

Several key events have directly contributed to Ethenas impressive TVL growth:

February 19: The USDe mainnet was launched, coinciding with the start of Epoch 1 of Ethenas Shard Campaign.
February 26: Epoch 2 of Ethenas Shard Campaign was initiated.
March 2: The supply of USDe reached 600 million.
March 28: The ENA token launch was announced.
March 29: ENA was revealed as the 50th project on Binance Launchpool.
April 2: The introduction of Season 2: The Sats Campaign, which included onboarding BTC as a backing asset for USDe.

Ethena TVL Hit $2.11 Billion In Just 57 Days After The Launch Of USDe

Following the successful launch of USDe and the initial Shard Campaigns, Ethenas TVL skyrocketed, reaching over $2.11 billion in just 57 days.

A pivotal moment came on May 7, when USDe was integrated into Bybit beyond the USDe/USDT pair. This integration allowed USDe to become a collateral asset for trading perpetual futures and supported zero-fee spot pairs for BTC and ETH against USDe. This development spurred further growth, with TVL increasing by an additional $1.3 billion, bringing the total to over $3.6 billion.

Ethenas strategic milestones and innovative campaigns have propelled its TVL to impressive heights, reaching over $3.6 billion in just over four months since the mainnet launch. These achievements underscore Ethena Labs potential and impact within the decentralized finance landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: gabrielhrech/123RF // Image Effects by Colorcinch