🚨 $ENA IS GETTING CHEAP AND THE NUMBERS BACK IT UP Ethena’s valuation multiple just compressed sharply as revenues keep growing Ethena’s FDV-to-fees ratio has dropped to ~5.8, while monthly fees reached $29M, up +32% MoM in January $ENA is now trading near all-time lows, and
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🚨 $ENA IS GETTING CHEAP AND THE NUMBERS BACK IT UP Ethena’s valuation multiple just compressed sharply as revenues keep growing Ethena’s FDV-to-fees ratio has dropped to ~5.8, while monthly fees reached $29M, up +32% MoM in January $ENA is now trading near all-time lows, and