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Ethena

Ethena is building derivative infrastructure to enable Ethereum to transform into the Global Internet Bond via delta-neutral positions on stETH, to create the first crypto-native, yield bearing stablecoin: USDE.

What is Ethena?

Ethena is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, designed to create a synthetic dollar stablecoin called USDe. This synthetic dollar aims to provide a crypto-native solution for money that is not reliant on traditional banking infrastructure. Ethena's mission is to offer a scalable, censorship-resistant form of digital money that integrates seamlessly with both centralized and decentralized finance ecosystems. (coingecko.com)

How Does Ethena Work?

Ethena operates by utilizing a combination of liquid staking tokens and perpetual futures contracts to maintain the stability of its synthetic dollar, USDe. The protocol employs a delta-neutral strategy, where it holds long positions in spot assets and short positions in perpetual futures. This approach aims to hedge against market volatility and generate yield through funding rate differentials in the futures market. Additionally, Ethena incorporates liquid staking tokens to enhance yield generation, while carefully managing associated risks. (ft.com)

What Makes Ethena Unique?

Ethena distinguishes itself through several key features: - **Synthetic Stablecoin (USDe):** Unlike traditional stablecoins backed by fiat reserves, USDe is backed by crypto-native assets and strategies, offering a decentralized alternative. - **Yield Generation:** Users can earn rewards through sUSDe, a yield-bearing token derived from the protocol's underlying strategies. - **Censorship Resistance:** By avoiding reliance on traditional banking systems, Ethena provides a form of money that is resistant to censorship and accessible globally. (coingecko.com)

Who Are the Founders of Ethena?

Ethena was founded by Guy Young in 2023. Before establishing Ethena, Young had experience in traditional finance, including investment banking, hedge funds, and private equity. His background in both traditional and decentralized finance positions him to bridge the gap between these financial systems through innovative solutions like Ethena. (tokenradar.ai)

Latest News

What Key Events Have There Been for Ethena?

Ethena has achieved several significant milestones: - **Launch of USDe:** In February 2024, Ethena launched its synthetic dollar, USDe, to the public, marking a major step in providing a crypto-native stablecoin. - **Shard Campaign:** Concurrently with the USDe launch, Ethena initiated the Shard Campaign to incentivize user engagement and adoption. - **Introduction of ENA Token:** In April 2024, Ethena introduced its governance token, ENA, enabling community participation in protocol decisions. (messari.io)

Project Announcements

In December 2024, Ethena introduced USDtb, a new stablecoin backed by BlackRock’s $500 million BUIDL fund, aiming to reduce risks associated with USDe’s derivative-based model and appeal to traditional finance players. (prices.org)

Upcoming Events

Latest Airdrop

Ethena announced an airdrop of 750 million ENA tokens (5% of the total supply) as a reward for participants in its Shard Campaign. The airdrop concluded on April 1, 2024. (coinmarketcap.com)

TGE Time

The Token Generation Event (TGE) for ENA occurred on April 2, 2024. (coinmarketcap.com)

Projects Announcements

Where to Buy Ethena?

ENA tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Ethena is Binance, where the most active trading pair ENA/USDT has a trading volume of $39,399,074.54 in the last 24 hours. Other popular options include MEXC and LBank. (coingecko.com)

Ethena Price

Daily Trading Volume

The trading volume of Ethena (ENA) is $193,491,582.15 in the last 24 hours, representing a 65.60% increase from one day ago and signaling a recent rise in market activity. (coingecko.com)

All-Time High

Ethena (ENA) reached an all-time high of $1.52 on April 11, 2024, which is 81.7% above the current price. (coingecko.com)

All-Time Low

Ethena (ENA) reached an all-time low of $0.1951 on September 6, 2024, which is 42.5% below the current price. (coingecko.com)

Market Cap and Valuation

Market Cap

The market capitalization of Ethena (ENA) is $1,698,918,143, ranking it #67 on CoinGecko. (coingecko.com)

Fully Diluted Valuation

The fully diluted valuation (FDV) of Ethena (ENA) is $4,186,245,938. This represents the maximum market cap, assuming all 15 billion ENA tokens are in circulation. (coingecko.com)

Ethena Price Prediction

While specific price predictions for ENA are not provided, factors influencing its price include market sentiment, adoption rates, regulatory developments, and the overall performance of the DeFi sector. Investors should consider these elements and conduct thorough research before making investment decisions.

How to buy Ethena?

To purchase Ethena (ENA), follow these simple steps using the Bitget Wallet: 1. **Download the Bitget Wallet:** If you haven't already, download the Bitget Wallet app from the official website or your app store. 2. **Create an Account:** Open the app and create a new account by following the on-screen instructions. Ensure you secure your account with a strong password. 3. **Fund Your Wallet:** Deposit funds into your Bitget Wallet by transferring cryptocurrencies or purchasing crypto using fiat currency through supported payment methods. 4. **Navigate to the Market:** In the Bitget Wallet, go to the market section and search for ENA to view available trading pairs. 5. **Place Your Order:** Select the desired trading pair (e.g., ENA/USDT), enter the amount you wish to buy, and confirm your order. Once the transaction is completed, ENA will be added to your wallet.

FAQ

What is the Purpose of Ethena?

How Can I Participate in Ethena's Ecosystem?

What Sets Ethena Apart from Competitors?

Is Ethena Secure?

What are the Risks Associated with Ethena?

Community Sentiment

23.53K Votes

50% 50%

ENA

0.334849

-5.11%

Trading Volume (24h)

20296677.734652877 7141342.348366719

Circulating MCAP

$5.02B

Fully Diluted Valuation

$5.02B

Circulating Supply

14999999997.368906

Total Supply

15000000000

Max Supply

15000000000

Contract Address

0x57e1...6061

Go to Trade

Disclaimer and Risk Warning: Some content on this page may be assisted or generated by AI and is for general reference only. For the most accurate and updated information, please refer to the official website of the project. Bitget Wallet values every partnership. If you notice any issues or inaccuracies, feel free to reach out to us at [email protected] — we appreciate your feedback and will make improvements where needed.