$ENA The coin pair ENA typically refers to Ethena (ENA) traded against another cryptocurrency like USDT or ETH. Ethena is a decentralized synthetic dollar protocol that offers a yield-bearing stablecoin called USDe. The ENA token is the governance token of the Ethena ecosystem, allowing holders to vote on protocol changes and earn rewards. Trading the ENA pair allows investors to speculate on the growth of Ethena's ecosystem and participate in DeFi activities. With increasing interest in decentralized finance and synthetic assets, the ENA pair is gaining traction among traders seeking innovative yield solutions and exposure to emerging crypto protocols.