Since its introduction to the market on April 2, Ethena's (CRYPTO:ENA) governance token, ENA, has seen an impressive 80% surge in its value relative to the U.S. dollar.

The token initially hit the market at a low of $0.532 each but has since climbed significantly.

This remarkable increase has propelled ENA into the ranks of the top 100 cryptocurrencies by market capitalisation, achieving a total market value of $1.36 billion as reported.

The rapid ascent of ENA underscores the growing enthusiasm surrounding decentralised finance (DeFi) and highlights its emerging significance in the crypto asset domain.