
Ethena ENAPrice $ 0.576
Rank: 32
ENA Price
General Info
Contracts/Explorers:
Ethereum
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Ethena (ENA) Chart
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What is Ethena (ENA)?
Ethena is a blockchain-based protocol on Ethereum designed to create a decentralized, crypto-native stablecoin called USDe. Unlike traditional stablecoins such as USDT or USDC, which rely on fiat reserves held in traditional banking systems, USDe is a synthetic dollar backed by cryptocurrency collateral and short futures positions. Ethena aims to provide a scalable, censorship-resistant, and globally accessible financial system that operates entirely within the crypto ecosystem.
Key Features of Ethena
USDe Stablecoin: Known as the "Internet Bond," USDe maintains price stability through a delta-neutral strategy. This involves using staked ETH (stETH) as collateral while simultaneously opening short positions of equivalent value on derivatives exchanges. This approach minimizes exposure to market volatility.
Decentralization: Ethena operates using smart contracts and price oracles, eliminating reliance on traditional financial infrastructure. However, some derivative positions are executed on centralized exchanges, introducing partial centralization risks.
Governance: The protocol is governed by its community through a decentralized autonomous organization (DAO), with its native token, ENA, used for governance decisions.
Ethena Price Today
Ethena's current price is $ 0.576, it has dropped -5.45% over the past 24 hours.
Ethena's All Time High (ATH) of $ 1.52 was reached on 11 Apr 2024, and is currently -62% down.
The current circulating supply of Ethena is 6.89 Billions tokens, and the maximum supply of ENA is unlimited.
Ethena’s 24 hour trading volume is $ 291.00 Million.
Ethena's current share of the entire cryptocurrency market is 0.10%, with a market capitalization of $ 3.97 Billions.
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