Ethena ENA
tokenchain EthereumRank 54 by market cap
This section is informational. Data comes from public sources and is not investment advice. Digital assets are volatile and may lose value.
Key figures
- Market cap
- 1.56 B $supply as of 2026-09-17
- FDV
- 2.31 B $of the maximum supply
- 24h turnover
- 39.9 M $
- Turnover to market cap
- 2.57 %
- Circulating
- 10.1 B ENA
- Market cap rank
- 54
About the coin
Ethena issues USDe, a synthetic dollar that is not a claim on a bank account. Crypto assets serve as backing while the protocol simultaneously holds an equal short position in perpetual futures: gains and losses on price offset each other, and the combined value stays near a dollar. The design touches the banking system nowhere, and depends on the derivatives market everywhere.
The return comes from the funding rate paid on the short leg plus staking rewards on the backing, and it is captured by moving USDe into its yield-bearing form. The weakness follows just as directly: a sustained negative funding rate turns the structure into a cost. The backing itself sits with off-exchange custodians and only margin is posted to venues, which reduces exchange risk without removing it.
ENA is the protocol's governance token. It does not back USDe and grants no claim on its reserves; it sets the system's parameters.
The structure's income disappears and turns negative when funding rates stay negative for long — the acknowledged weak point of the model.
A reference description of the project, not investment advice.
Price chart
Where it trades
Turnover is what the venue itself reports; we do not verify it, so the order in the table is not a reliability ranking.
| Venue | 24h turnover | Share |
|---|---|---|
| WEEX | 284.5 M $ | 32.0 % |
| CoinUp.io | 124.2 M $ | 14.0 % |
| Binance | 41.0 M $ | 33.7 % |
| MEXC | 39.6 M $ | 4.4 % |
| Bybit | 35.7 M $ | 4.0 % |
Return by period
Periods from a week are calendar-based, from midnight UTC. The 24-hour figure is a rolling window from the current price — different bases, not a discrepancy.
| Period | ENA | BTC | ETH |
|---|---|---|---|
| 24 hoursrolling | +3.77 % | +0.36 % | +1.38 % |
| 7 days | +1.19 % | −2.30 % | −1.70 % |
| 30 days | +83.53 % | +18.51 % | +26.78 % |
| 90 days | +59.56 % | +21.47 % | +41.78 % |
| year to date | −23.61 % | −12.74 % | −18.36 % |
| 1 year | −78.13 % | −34.52 % | −46.10 % |
Supply and issuance
We compute market cap from circulating supply, so its date matters as much as the price.
- Circulating
- 10.1 B ENA
- Total issued
- 15.0 B ENA
- Maximum
- 15.0 B ENA
Risk and statistics
Computed by us from our own history. This section shows no buy/sell ratings — these are values, not verdicts.
- 30d volatility
- 153.45 %
- 90d volatility
- 108.86 %
- Maximum drawdown over a year
- −89.95 %
- Maximum drawdown all time
- −95.11 %
- Beta to bitcoin
- 2,00
- Correlation with bitcoin
- 0,67
- From the all-time high
- −89.55 %All-time high: 1.461 $, 2024-04-10
- From the all-time low
- +113.87 %All-time low: 0.0714 $, 2026-07-01
- 52-week range
- 0.0714 — 0.6984 $
- History depth
- 898 days
Technical indicators
- RSI (14)
- 51.6
- Distance from MA50
- +23.46 %
- Distance from MA200
- +48.50 %
- 24-hour range
- 0.1444 — 0.1593 $
- 24h turnover
- 39.9 M $
Network
- Main network
- Ethereum
- Contract address
- 0x57e114b6…181e6061
Converter
At the price as of 20:05 UTC — a moment's rate, not a live tick.
1 ENA = 0.1541 $
Similar coins
Same sector (Decentralized Finance (DeFi), Governance) and a similar market cap
Coin sectors: Decentralized Finance (DeFi), Governance
Sources and coverage
- Price: Binance, pair ENAUSDT.
- History: 898 days in our database
- Market cap and supply — Powered by CoinGecko
- Prices — Binance public market data