Live · updated 8 minutes ago
Ethena Price chart
Key stats
Performance
How the price moved over each period.
Supply
13.41B of 15.00B ENA are in circulation.
- Circulating
- 13.41B
- Total supply
- 15.00B
- Max supply
- 15.00B
ⓘ Circulating · Total supply · Max supply
Circulating supply: coins currently available to trade, as reported by the data provider.
Total supply: coins created so far, minus any burned. It includes locked or not-yet-released coins.
Max supply: the hard cap on coins that can ever exist. Shown as “No max supply” when the protocol sets no cap.
CryptoWave Health score
Five measurable signals. Each ring segment’s length is its weight; how full it is shows the score.
Volume is 12.24% of market cap. Trades easily.
$2.27B market cap, rank #44. Bigger is harder to push around.
89% of the maximum supply circulates. Little dilution ahead.
88.8% below its all-time high of $1.52.
Largest recent swing: 7.76% a day. Volatile.
Describes market structure today. Not a price forecast and not investment advice.
How this score is calculated
A weighted average of five signals computed from the market data on this page. Each signal is scored from 0 to 100:
- Liquidity (25%): 24-hour trading volume divided by market cap.
- Market depth (25%): market cap, on a logarithmic scale from $10 million to $1 trillion.
- Supply (15%): circulating supply divided by max supply, or by total supply when there is no cap. More supply already in circulation scores higher.
- Distance from peak (15%): the current price compared with the all-time high.
- Stability (20%): the largest recent price swing among the 1-hour move (×3), the 24-hour move and the 7-day move (÷2.6).
Bands: 75 and above strong, 55–74 fair, 35–54 weak, below 35 fragile.
Limits: the score describes current market structure only. It is not a price forecast, an audit or investment advice, and it does not consider the team, code or token unlocks. A missing input counts as a neutral 50.
Time machine
Drag the date. See what a one-off buy or a regular buy would be worth today. Real daily closing prices, fees not included.
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What is Ethena (ENA)?
Ethena (ENA) is the governance token of Ethena, a synthetic dollar protocol built on Ethereum. The protocol was founded by Guy Young and issues USDe, a dollar-denominated asset, along with sUSDe, a savings version that receives protocol revenue. ENA was launched in April 2024, when the token was distributed to early users through an airdrop.
How Ethena works
USDe is not a fiat-backed stablecoin. Ethena states that it is backed by crypto assets paired with short futures positions, a structure often called delta neutral. Gains and losses in the collateral are offset by the matching futures position, which is meant to keep USDe near one dollar. Revenue comes from funding rates on those futures, from lending and from tokenized real-world assets such as short-duration government debt.
ENA sits on top of this system. Its main roles are:
- Governance: holders vote on proposals, while a Risk Committee sets parameters such as eligible backing assets and exposure limits.
- Staking: ENA can be staked to receive sENA, which carries a withdrawal cooldown.
- Ecosystem incentives: ENA is used in reward programmes that attract users and liquidity to USDe.
ENA supply and token design
ENA has a maximum supply of 15 billion tokens. Allocations were split between core contributors, investors, the foundation, ecosystem growth and community rewards, with team and investor tokens released on a vesting schedule. Proposals to direct protocol revenue to ENA buybacks have been discussed in governance, so check the current rules before relying on them. Live circulating supply is shown in the market data on this page.
ENA exists on Ethereum and is bridged to several other networks, so confirm the contract on the chain you use. Staking ENA is optional, and unstaking requires waiting through the cooldown.
Official information is on ethena.fi.
What to check before using ENA
- ENA value is tied to the success of USDe. If demand for the synthetic dollar falls, the protocol earns less.
- USDe relies on futures markets. Negative funding rates, exchange failures or fast market moves can strain the peg.
- Direct minting and redemption of USDe is limited to approved counterparties after KYC checks, and sUSDe is not offered to people resident in the EU or EEA.
- Vesting schedules mean tokens can still be released by early holders.
- Governance outcomes, including any buyback or fee changes, are not guaranteed. Treat any revenue-sharing idea as a proposal until it is live.
Ethena project profile
- Open source
- No
- Hardware wallet support
- Yes
Token contracts
- Ethereum:
0x57e114…1e6061 - Mantle:
0x58538e6a46e07434d7e737… - Metis Andromeda:
0x58538e6a46e07434d7e737… - Fraxtal:
0x58538e6a46e07434d7e737… - Kava:
0x58538e6a46e07434d7e737… - Zircuit:
0x813635891aa06bd55036bb… - Swellchain:
0x58538e6a46e07434d7e737… - Morph L2:
0x58538e6a46e07434d7e737…
Always confirm links on the project's own official channels before connecting a wallet or sending funds.
Ethena market analysis
With a market capitalisation of $2.27 billion, Ethena (ENA) is classed as a mid-cap asset and ranks #44 of 1,342 cryptocurrencies with a reported market cap on CryptoWave, larger than about 96.7% of them. It accounts for roughly 0.08% of the combined tracked market value. Mid-cap assets sit between the established majors and the speculative long tail, so both growth and drawdowns can be sharp.
Over the last 24 hours roughly $278.46 million of ENA changed hands, equal to 12.24% of its market cap, which puts its trading volume ahead of about 98.7% of tracked assets. That is an active level of turnover for an asset of this size. Its turnover ratio is higher than that of about 73% of tracked assets.
Price action: ENA moved −7.76% in 24 hours and −18.89% over 7 days. It underperformed Bitcoin by 6.06 percentage points over 24 hours and by 15.04 points over 7 days. Against the median tracked coin (behind by 5.64 points on the day and behind by 12.76 points on the week), it has been a relative laggard in recent sessions.
To overtake OKB (OKB) just above it, Ethena would need to grow its market cap by about 0.7%; it is 1.5% larger than Circle USYC (USYC) just below. Its market cap is 0.15% of Bitcoin's.
Based on market data; not investment advice.
Ethena FAQ
What is Ethena (ENA)?
ENA is the governance token of Ethena, a synthetic dollar protocol that issues USDe. Holders can vote and stake ENA to receive sENA.
What is the maximum supply of ENA?
ENA has a maximum supply of 15 billion tokens, released over time under vesting schedules.
What is USDe?
USDe is a synthetic dollar issued by Ethena. It is backed by crypto assets with matching short futures positions, not by bank deposits.
When did ENA launch?
ENA launched in April 2024 with an airdrop to early users of the protocol.
Price history
| Date | Close | Change |
|---|---|---|
| 2026-11-03 | $0.1686 | 1.23% |
| 2026-11-02 | $0.1707 | 6.82% |
| 2026-11-01 | $0.1832 | 3.02% |
| 2026-10-31 | $0.1889 | 0.68% |
| 2026-10-30 | $0.1902 | 8.38% |
| 2026-10-29 | $0.1755 | 16.31% |
| 2026-10-28 | $0.2097 | 0.48% |
| 2026-10-27 | $0.2087 | 0.72% |
| 2026-10-26 | $0.2072 | 0.14% |
| 2026-10-25 | $0.2069 | 5.89% |
| 2026-10-24 | $0.1954 | 1.91% |
| 2026-10-23 | $0.1992 | 0.45% |
| 2026-10-22 | $0.1983 | 7.25% |
| 2026-10-21 | $0.2138 | 9.03% |
| 2026-10-20 | $0.1961 | 3.59% |
| 2026-10-19 | $0.1893 | 0.48% |
| 2026-10-18 | $0.1884 | 0.05% |
| 2026-10-17 | $0.1883 | 5.33% |
| 2026-10-16 | $0.1989 | 2.98% |
| 2026-10-15 | $0.2050 | 4.70% |
| 2026-10-14 | $0.1958 | 6.54% |
| 2026-10-13 | $0.2095 | 1.75% |
| 2026-10-12 | $0.2059 | 13.31% |
| 2026-10-11 | $0.2375 | 7.66% |
| 2026-10-10 | $0.2206 | 2.56% |
| 2026-10-09 | $0.2151 | 4.11% |
| 2026-10-08 | $0.2066 | 8.75% |
| 2026-10-07 | $0.2264 | 5.78% |
| 2026-10-06 | $0.2403 | 3.65% |
| 2026-10-05 | $0.2494 | 3.31% |
| 2026-10-04 | $0.2414 | 0.92% |
| 2026-10-03 | $0.2392 | 2.93% |
| 2026-10-02 | $0.2324 | 4.44% |
| 2026-10-01 | $0.2432 | 8.19% |
| 2026-09-30 | $0.2649 | 6.64% |
| 2026-09-29 | $0.2484 | 3.20% |
| 2026-09-28 | $0.2566 | 5.83% |
| 2026-09-27 | $0.2725 | 1.08% |
| 2026-09-26 | $0.2696 | 0.60% |
| 2026-09-25 | $0.2680 | 19.32% |
| 2026-09-24 | $0.2246 | 8.98% |
| 2026-09-23 | $0.2061 | 4.80% |
| 2026-09-22 | $0.2165 | 1.79% |
| 2026-09-21 | $0.2127 | 1.94% |
| 2026-09-20 | $0.2169 | 6.17% |
| 2026-09-19 | $0.2043 | 21.32% |
| 2026-09-18 | $0.1684 | 8.93% |
| 2026-09-17 | $0.1546 | 3.83% |
| 2026-09-16 | $0.1489 | 6.66% |
| 2026-09-15 | $0.1396 | 2.51% |
| 2026-09-14 | $0.1432 | 5.22% |
| 2026-09-13 | $0.1361 | 4.42% |
| 2026-09-12 | $0.1424 | 1.42% |
| 2026-09-11 | $0.1404 | 1.75% |
| 2026-09-10 | $0.1429 | 6.05% |
| 2026-09-09 | $0.1521 | 4.46% |
| 2026-09-08 | $0.1592 | 3.05% |
| 2026-09-07 | $0.1642 | 6.81% |
| 2026-09-06 | $0.1762 | 2.50% |
| 2026-09-05 | $0.1719 | 5.59% |