Trading
Ethena is targeting the $120 trillion Wall Street stock market to hunt yields 5x higher than Bitcoin
The protocol is moving into equity perpetual basis trades as it tries to rebuild USDe and reach the $7.5 billion threshold for ENA buybacks.
Ethena is a protocol for synthetic dollars and yield.
Ethena
Trading Activity
Active
$933.62M traded Price signal supported
Trading Activity price-reliability indicator with 100 percent data coverage. Low activity replaces price-derived sentiment because the displayed market price may not be supported by meaningful trading. Peg Health
Watch
Target
Peg Health price-stability indicator with 0 percent data coverage. It measures observed market pricing, not reserve quality or redemption safety. Market Signal
Neutral
30D +97.6% 89.7% below ATH
Price-based current market conditions indicator with 100 percent data coverage. This is not a price forecast. $0.16
Updated Data via CoinMarketCap
- Market cap
- $1.54B
- Token Dominance
- 0.4%
- Volume (24h)
- $933.62M
- Circ. supply
- 9.83B
- FDV
- $2.35B
Ethena price chart
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Trading Activity analysis
Why trading activity is active
Active 80 100% data coverage
Price signal unreliable $933,620,893.72 traded over the last 24 hours. The available activity evidence is sufficient to retain the asset’s price-derived signal.
Price support evidence
Reported volume45% weight 90 / 100
Valid-pair liquidity25% weight 47 / 100
Market-cap turnover15% weight 96 / 100
Exchange breadth10% weight 87 / 100
Quote freshness5% weight 100 / 100
Reliability decision
80 40 / 100 minimum
Price signal supported Trading evidence supports price-derived interpretation.
Activity evidence
- 24h volume
- $933.62M
- Turnover
- 60.54%
- Valid markets
- 10
- Active exchanges
- 7
Low activity can make the displayed price sensitive to a handful of trades. Trading Activity assesses price reliability—not project development, legal status, reserves, or solvency.
Price movement Not interpreted while trading support is below the reliability threshold.
Market context
Supporting only- Displayed price
- $0.16
- Market cap
- $1.54B
- Reported pairs
- 473
How Trading Activity is calculated
What it measures
The model combines reported 24-hour volume, market-cap turnover, valid-pair liquidity, active exchange breadth, and quote freshness. Missing optional evidence lowers coverage; missing volume or a known-stale quote suppresses price-derived interpretation.
Configured model weights
- Reported volume
- 45% weight
- Valid-pair liquidity
- 25% weight
- Market-cap turnover
- 15% weight
- Exchange breadth
- 10% weight
- Quote freshness
- 5% weight
When inputs are missing, these configured weights are renormalized across the available evidence; data coverage records what is missing.
How to read it
Scores of 0–19 are dormant, 20–39 are thin, 40–69 are supported, and 70–100 are active. Scores below 40 withhold price-derived interpretation.
Market Signal analysis
Why Ethena is price-neutral
Neutral 58 100% data coverage
Logarithmic historical position weighs on it, while Price momentum across the scored timeframes supports the reading. Together these inputs produce a price-neutral reading rather than a price forecast.
Score drivers
Momentum 55% weight +12 pts
Historical position 20% weight −5 pts
Milestone recency 15% weight −2 pts
Volume confirmation 10% weight +3 pts
Historical position
26% of log range
Log scale · formula input A complete ATL and ATH range is not available for this asset.
Momentum evidence
- 24H
- Down 4.69%
- 7D
- Up 4.02%
- 30D
- Up 97.58%
- 90D
- Up 74.63%
- 1Y
- Down 71.33%
Market context
Not directly scored- CEX volume (24h)
- $932.75M
- DEX volume (24h)
- $867K
- Total supply
- 15B
How this score is calculated
What it measures
The model converts price momentum, logarithmic historical position, milestone recency, and short-term volume confirmation into one 0–100 score. Missing evidence lowers data coverage instead of counting as neutral.
Configured model weights
- Momentum
- 55% weight
- Historical position
- 20% weight
- Milestone recency
- 15% weight
- Volume confirmation
- 10% weight
When inputs are missing, these configured weights are renormalized across the available evidence; data coverage records what is missing.
How to read it
50 is the neutral midpoint. Scores of 60 or higher are bullish, 40 or lower are bearish, and 41–59 are neutral.
Ethena Markets
Showing 10 spot markets sorted by CoinMarketCap exchange rank. Markets excluded from CMC price or volume calculations are hidden.
| Pair | |||||
|---|---|---|---|---|---|
| 1 | ENA/USDT | $0.16 | $96.01M | 642 | |
| 2 | ENA/TRY | $0.16 | $19.6M | 647 | |
| 3 | ENA/USD | $0.16 | $15.1M | 609 | |
| 4 | ENA/KRW | $0.16 | $33.85M | 471 | |
| 5 | ENA/USDT | $0.16 | $18.35M | 641 | |
| 6 | ENA/USDC | $0.16 | $2.64M | 446 | |
| 7 | ENA/USDT | $0.16 | $28.59M | 564 | |
| 8 | ENA/EUR | $0.16 Best price | $630.03K | 273 | |
| 9 | ENA/USDT | $0.16 | $5.82M | 608 | |
| 10 | ENA/USDT | $0.16 | $12.35M | 628 |
Affiliate Disclaimer: CryptoSlate may receive a commission when you click trading links on this page and complete an action with a third party. This does not influence our editorial independence or coverage.
Latest Ethena news
Exchanges
Banks pushed Congress to kill stablecoin yield with CLARITY Act – Coinbase may have found the loophole
Coinbase and Ethena could turn idle USDC balances into activity-based yield, challenging banks as lawmakers move to limit passive stablecoin rewards.
Tokenization
ENA holders eye potential yields over 5% as Ethena confirms fee switch thresholds met
Run-rate projections show scenarios ranging from 2 to 30 percent APR on staked ENA.
Stablecoins
Ethena Labs drops out of Hyperliquid’s USDH stablecoin bid citing ecosystem concerns
Ethena Labs congratulates Native Markets as withdrawal from USDH contest clears the path for competitors.
ENA price converter
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Live ENA to USD
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About Ethena
Ethena is a financial platform focused on providing a synthetic dollar and facilitating internet-native yield generation. It appears to be in early access, inviting users to enter an invite code for participation. The platform is supported by notable figures from the crypto industry, including founders from Synthetix, AAVE, Curve, and Frax, among others.
Ethena introduces a groundbreaking protocol on Ethereum for creating a synthetic dollar, offering a crypto-native monetary alternative free from conventional banking systems. It also introduces ‘Internet Bond,' a global, dollar-based savings tool. This innovative approach aims to redefine how we perceive and utilize digital currencies in a global context. For more in-depth information, please refer to their official website.
Ethena Links & Resources
- Website
- ethena.fi
- Whitepaper
- Whitepaper
- Explorer
- etherscan.io
- Exchanges
Ethena Token Contracts
Ethena Technical Details
Circulating Supply 9,828,125,000
Total Supply 15,000,000,000
Max Supply 15,000,000,000
Ethena FAQs
What is the price of Ethena today?
As of Aug 29, 2026, Ethena trades at $0.16.
What is the market cap of Ethena?
Ethena has a market capitalization of $1,542,120,766.64.
What is the 24-hour trading volume of Ethena?
Ethena has a 24-hour trading volume of $933,620,893.72.
What is the all-time high of Ethena?
Ethena reached an all-time high of $1.52, recorded on Apr 11, 2024. It is currently 89.66% below its all-time high.
What is the all-time low of Ethena?
Ethena recorded an all-time low of $0.07, recorded on Jun 30, 2026. It is currently 123.40% above its all-time low.
What is the TVL of Ethena?
Ethena has a total value locked of $4,518,505,265.94.
What is the market cap to TVL ratio of Ethena?
Ethena has a market cap to TVL ratio of 0.34x.
