Ethena ($ENA) Q4 2024 Financial Report
Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. This initiative addresses the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.
Revenue and User Statistics 2025-03-07
$ENA Token Metrics as of March 05, 2025
Market Cap: $2.02B
Fully Diluted Market Cap: $5.74B
Circulating supply: 5,285,937,500 ENA
Total Supply: 15,000,000,000 ENA
Token Holders: 59,767
Performance Highlights:
USDe was the fastest USD asset to hit $5bn of supply ever. sUSDe on Aave crossed over $1bn and Ethena markets on Pendle passed $2bn.
Avg sUSDe APY of 18% for 2024 set a new benchmark rate for the entire industry. Ethena was the second fastest protocol to hit $100m of revenue ever.
Launched the Ethena Network, with 3 applications committing a % of their token supply to sENA. Ethereal is the largest so far with over $300m of TVL and 15% of token supply committed to sENA.
Future Outlook:
Ethena will launch a new product next month to export sUSDe in an institutional friendly wrapper for traditional finance: iUSDe.
Ethena will launch a Telegram application for users to send, spend and save with sUSDe. Immediate access via Telegram’s 900m+ users provides the distribution platform to deliver this product to the world.
Continue building out Ethena Network, launching new applications to drive value back to sENA with apps committing a % of their token supply to sENA.
