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Ethena Protocol Hits Record $151M Fees in Q3
11/24/2025, 03:06
AI SUMMARY
●• Ethena records approx $151M in fees for Q3, a new historical high
●• Total cumulative revenue for the protocol reaches nearly $600M
●• Data underscores continued strong demand for Ethena's DeFi products
Ethena has achieved a new financial milestone, reporting approximately $151 million in fees captured during the third quarter, according to TokenTerminal data. This represents a record high for the protocol.
The project's total cumulative revenue has now reached approximately $599 million. This consistent revenue growth underscores the sustained demand and adoption of Ethena's stablecoin and yield-bearing products within the crypto ecosystem.