$ENA What is $ENA?

- $ENA is the native token of the Ethena protocol, a DeFi platform that aims to offer a synthetic stablecoin called USDe, backed by derivatives and hedging strategies instead of traditional collateral.

- The goal of Ethena is to create a stable currency that does not depend on physical reserves like dollars or cryptos, but on leveraged positions in perpetual futures.

📊 Key data (current):

- Approximate price: $0.56 USD

- Market capitalization: over $3.5 billion

- Total supply: 15 billion tokens

- Circulating supply: around 6.35 billion

⚠️ Strategic considerations

- The Ethena model is innovative but complex, and relies on liquid and efficient derivative markets.

- The volatility of the token $ENA can be high, so it is crucial to apply risk management if you integrate it into your simulations or strategies.