๐จ Ethena (ENA) โ Synthetic Dollar Economy in Motion ๐ต
๐ Current Price: ~$0.59 USD
๐ฐ Market Cap: ~$3.8โฏB
๐ 24H Trading Volume: ~$2.1โ2.5โฏB USD
๐ฆ Circulating Supply: ~6.35โฏB ENA
๐ฎ All-Time High: $1.52 (Apr 2024)
๐ All-Time Low: $0.19 (Sept 2024)
๐ What is Ethena?
Ethena is a decentralized finance (DeFi) protocol on Ethereum centered around USDe, a synthetic yield-bearing dollar. It uses a delta-neutral strategy (long staked ETH + short futures) to maintain stability.
ENA is the governance and utility token used for staking, rewards, and protocol voting.
๐ Whatโs Fueling ENAโs Momentum?
๐ Massive inflows into sUSDe (yield version), attracting users with ~10% APY
๐ผ Institutional partnerships and $360M capital raise fueling ENA buybacks
๐ธ Fee sharing enabled for sENA stakers, strengthening token utility
๐ Listed on major exchanges including Coinbase International for global accessibility
๐ Market Sentiment:
Strong recent surge (~25% in a day), reflecting renewed investor interest following protocol growth, rising yields, and ecosystem activity.
โ ๏ธ Disclaimer:
This post is for informational purposes only and should not be considered financial advice. Always DYOR (Do Your Own Research) and invest responsibly. ๐
