ENA Rises 15% As Ethena Labs Increases Staking Rewards
Ethena Labs’ native token, ENA, has experienced a 15% increase following the announcement of “season 2,” which includes a 50% increase in rewards for a portion of users.
The token is currently trading at $1.26, with users able to lock in ENA for a minimum of seven days, with those who lock 50% or more of their ENA relative to their USDe balance receiving a 50% reward boost.
However, blockchain analytics firm Lookonchain reported that three wallets withdrew 11.9 million ENA which is $15.23 million from Binance to stake.
(With inputs from Shikha Singh)
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