Rewards Hub Ethena's total value locked (TVL) has experienced a significant decline, according to DefiLlama data. The TVL has dropped from a peak of $14.98 billion on October 3, 2025, to $6.63 billion, marking a decrease of more than 55%. This substantial reduction highlights the volatility and challenges within the DeFi sector.
Ethena's TVL Plummets Over 55% Since October Peak
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