Ethena overtakes PancakeSwap and Jupiter with $3.28m daily revenue


Ethena’s daily revenue has surpassed PancakeSwap and Jupiter, trailing only behind Tether and Circle. Following this achievement, ENA rose 4%.

According to data from DeFi Llama, Ethena (ENA) rose through the ranks to become the third largest protocol by daily fees. In the past 24 hours, the Ethereum (ETH) -based decentralized stablecoin protocol has accumulated around $3.28 million. These fees were generated from the stablecoin USDE (USDE).

According to data from crypto.news, USDE’s market cap stands at $5.4 billion. Meanwhile, its 24-hour trading volume has increased 23.6% from the previous day, reaching $63 million. The stablecoin has a circulating supply of 5.4 billion USDE.

However, the Ethereum-based protocol is still behind fellow stablecoin issuers Tether (USDT) and Circle (USDC) in terms of daily revenue. At press time, Circle has collected $6.12 million in fees, while Tether maintains a commanding lead with $18.31 million.

Ethena overtakes PancakeSwap and Jupiter with $3.28m daily revenue - 1
Ethena rises to the third spot by daily revenue, March 14, 2025 | Source: DeFi Llama

Ethena’s daily revenue surpasses that of major protocols such as PancakeSwap (CAKE), Jupiter (JUP), Meteora, Uniswap (UNI) and Tron (TRX). In the past 24 hours, PancakeSwap has gained $2.54 million in daily revenue, while Jupiter has accumulated $1.99 million. Trailing not too far behind Jupiter is Meteora with $1.89 million and Uniswap with $1.73 million.

Shortly after Ethena’s rise in the ranks, the protocol’s native token, ENA, gained more than 4%. The token has reached a market cap of nearly $2 billion and a 24 hour trading volume of $282 million.

Just a day prior, Ethena allocated $200 million to BlackRock’s tokenized U.S. Treasury fund, BUIDL. Last December, the protocol launched its second stablecoin, USDtb. Backed by BUIDL, USDtb has seen a rapid increased in supply. Unlike the conventional stablecoins, USDtb produces yield which makes it an attractive investment option for investors looking to gain passive income.



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  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 5,143.00
  • skySky (SKY) $ 0.081404
  • mantle-staked-etherMantle Staked Ether (METH) $ 5,074.70
  • flare-networksFlare (FLR) $ 0.023576
  • jupiter-exchange-solanaJupiter (JUP) $ 0.550058
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 122,893.00
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  • spx6900SPX6900 (SPX) $ 1.68
  • optimismOptimism (OP) $ 0.858981
  • celestiaCelestia (TIA) $ 2.00
  • usdtbUSDtb (USDTB) $ 0.999975
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,999.92
  • pump-funPump.fun (PUMP) $ 0.003943
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  • nexoNEXO (NEXO) $ 1.38
  • usdt0USDT0 (USDT0) $ 0.999962
  • lido-daoLido DAO (LDO) $ 1.49
  • falcon-financeFalcon USD (USDF) $ 1.00
  • hash-2Provenance Blockchain (HASH) $ 0.027619
  • bitcoinBitcoin (BTC) $ 122,987.00
  • ethereumEthereum (ETH) $ 4,739.78
  • xrpXRP (XRP) $ 3.27
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 845.39
  • solanaSolana (SOL) $ 200.67
  • usd-coinUSDC (USDC) $ 0.999812
  • staked-etherLido Staked Ether (STETH) $ 4,735.48
  • dogecoinDogecoin (DOGE) $ 0.243902
  • tronTRON (TRX) $ 0.361393
  • cardanoCardano (ADA) $ 0.886500
  • wrapped-stethWrapped stETH (WSTETH) $ 5,745.06
  • chainlinkChainlink (LINK) $ 23.92
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 122,737.00
  • hyperliquidHyperliquid (HYPE) $ 46.70
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 5,066.67
  • stellarStellar (XLM) $ 0.451858
  • suiSui (SUI) $ 3.98
  • wrapped-eethWrapped eETH (WEETH) $ 5,070.99
  • bitcoin-cashBitcoin Cash (BCH) $ 614.02
  • hedera-hashgraphHedera (HBAR) $ 0.263881
  • wethWETH (WETH) $ 4,745.47
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • avalanche-2Avalanche (AVAX) $ 25.37
  • litecoinLitecoin (LTC) $ 129.88
  • the-open-networkToncoin (TON) $ 3.50
  • leo-tokenLEO Token (LEO) $ 9.24
  • shiba-inuShiba Inu (SHIB) $ 0.000014
  • usdsUSDS (USDS) $ 0.999733
  • uniswapUniswap (UNI) $ 12.10
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 123,083.00
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999739
  • whitebitWhiteBIT Coin (WBT) $ 46.94
  • polkadotPolkadot (DOT) $ 4.26
  • okbOKB (OKB) $ 101.60
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.19
  • bitget-tokenBitget Token (BGB) $ 4.81
  • crypto-com-chainCronos (CRO) $ 0.167789
  • pepePepe (PEPE) $ 0.000012
  • ethenaEthena (ENA) $ 0.764826
  • aaveAave (AAVE) $ 328.69
  • moneroMonero (XMR) $ 251.91
  • daiDai (DAI) $ 1.00
  • mantleMantle (MNT) $ 1.12
  • bittensorBittensor (TAO) $ 388.17
  • nearNEAR Protocol (NEAR) $ 2.99
  • ethereum-classicEthereum Classic (ETC) $ 24.11
  • aptosAptos (APT) $ 5.02
  • ondo-financeOndo (ONDO) $ 1.07
  • internet-computerInternet Computer (ICP) $ 5.97
  • pi-networkPi Network (PI) $ 0.398485
  • jito-staked-solJito Staked SOL (JITOSOL) $ 245.46
  • arbitrumArbitrum (ARB) $ 0.568520
  • binance-peg-wethBinance-Peg WETH (WETH) $ 4,737.48
  • kaspaKaspa (KAS) $ 0.098426
  • algorandAlgorand (ALGO) $ 0.276868
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.037131
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.252234
  • vechainVeChain (VET) $ 0.026440
  • cosmosCosmos Hub (ATOM) $ 4.84
  • rocket-pool-ethRocket Pool ETH (RETH) $ 5,379.95
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • render-tokenRender (RENDER) $ 4.19
  • bonkBonk (BONK) $ 0.000027
  • gatechain-tokenGate (GT) $ 17.48
  • worldcoin-wldWorldcoin (WLD) $ 1.11
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,970.12
  • binance-staked-solBinance Staked SOL (BNSOL) $ 214.57
  • sei-networkSei (SEI) $ 0.352711
  • susdssUSDS (SUSDS) $ 1.06
  • fasttokenFasttoken (FTN) $ 4.57
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.753834
  • official-trumpOfficial Trump (TRUMP) $ 9.58
  • filecoinFilecoin (FIL) $ 2.73
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.41
  • story-2Story (IP) $ 5.94
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,986.16
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 5,143.00
  • skySky (SKY) $ 0.081404
  • mantle-staked-etherMantle Staked Ether (METH) $ 5,074.70
  • flare-networksFlare (FLR) $ 0.023576
  • jupiter-exchange-solanaJupiter (JUP) $ 0.550058
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 122,893.00
  • kucoin-sharesKuCoin (KCS) $ 12.49
  • injective-protocolInjective (INJ) $ 16.02
  • spx6900SPX6900 (SPX) $ 1.68
  • optimismOptimism (OP) $ 0.858981
  • celestiaCelestia (TIA) $ 2.00
  • usdtbUSDtb (USDTB) $ 0.999975
  • xdce-crowd-saleXDC Network (XDC) $ 0.089277
  • curve-dao-tokenCurve DAO (CRV) $ 1.04
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,999.92
  • pump-funPump.fun (PUMP) $ 0.003943
  • blockstackStacks (STX) $ 0.777800
  • nexoNEXO (NEXO) $ 1.38
  • usdt0USDT0 (USDT0) $ 0.999962
  • lido-daoLido DAO (LDO) $ 1.49
  • falcon-financeFalcon USD (USDF) $ 1.00
  • hash-2Provenance Blockchain (HASH) $ 0.027619