$ENA Coin: Powering Ethena’s Synthetic Dollar Revolution
ENA, the governance token of the Ethena protocol, is making waves in the DeFi space. Built on Ethereum, Ethena’s USDe synthetic dollar offers a crypto-native stablecoin, free from traditional banking reliance. ENA holders vote biannually on critical protocol decisions, shaping its future. With a market cap of around $3.8 billion and a circulating supply of 6.6 billion tokens, ENA’s price has surged recently, driven by USDe’s $10 billion milestone. Despite short-term volatility risks, ENA’s innovative delta-neutral hedging and growing stablecoin adoption position it as a promising altcoin for decentralized finance enthusiasts.