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Ethena's price falls amid declining revenue and user activity despite spot market buying.

Protocol Fundamentals
28 Mar 2026
AMBCrypto
View Source
Bearish
pluang ai news

Ethena's price dropped to $0.089 following a 32% revenue decline and reduced user engagement in Q1 2026. Total Value Locked (TVL) fell by $130 million, signaling capital outflows, while daily active users hit a low since December. Despite this, spot market investors have increased buying, accumulating $3.41 million over three days, which might stabilize the price. However, without a rebound in core fundamentals like revenue and user activity, price gains may remain limited.

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