Stablecoins
Standard Chartered says Ethena’s ENA could crush Bitcoin and Ethereum returns by 2028
The bank expects a sevenfold rally if Ethena rebuilds USDe to $40 billion and turns protocol revenue into sustained token purchases.
Trading Activity Trading Activity is a 0–100 price-reliability indicator combining reported 24-hour volume with market-cap turnover, cached valid-market liquidity, active exchange breadth, and quote freshness when those inputs are available. It assesses whether the displayed market price is supported by meaningful trading; it does not assess project development, reserves, or solvency.
Active
$553.22M 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 Peg Health is a price-stability 0–100 indicator for stablecoins. It measures the asset’s current distance from its target, reconstructed 24-hour to 90-day reference-price snapshots, and whether rising 24-hour volume accompanies a deviation. It measures observed market pricing, not reserve quality or redemption safety.
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 Market Signal is a price-based 0–100 indicator combining 24-hour to one-year momentum, logarithmic position between the all-time low and high, recency of those milestones, and whether 24-hour volume change confirms the latest price move. It describes current market conditions, not a price forecast.
Neutral
30D -23.3% 86.4% below ATH
Price-based current market conditions indicator with 100 percent data coverage. This is not a price forecast. $0.21
Updated Data via CoinMarketCap
- Market cap The current market value of coins already in circulation.
- $2.76B
- Token Dominance This asset's share of the Token category's total market capitalization, calculated by dividing its market cap by the combined market cap of assets in its primary CryptoSlate category.
- 0.6%
- Volume (24h) The estimated total value traded across exchanges over the past 24 hours.
- $553.22M
- Supply The circulating supply compared with the protocol-defined maximum supply.
- 13.41BMaximum supply: 15B
- FDV Fully diluted valuation estimates the market value if the project's fully diluted token supply were circulating at the current price.
- $3.09B
Ethena price chart
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Why trading activity is active
Active 79 100% data coverage Trading Activity explains whether the displayed price is supported by meaningful trading. It is a price-reliability indicator, not a project rating.
Price signal unreliable $553,215,689.77 traded over the last 24 hours. The available activity evidence is sufficient to retain the asset’s price-derived signal.
Price support evidence
Measured factors support the displayed price; unavailable factors are shown explicitly and reduce data coverage. Reported volume45% weight 87 / 100
Valid-pair liquidity25% weight 50 / 100
Market-cap turnover15% weight 86 / 100
Exchange breadth10% weight 92 / 100
Quote freshness5% weight 100 / 100
Reliability decision
Price-derived interpretation begins at 40 out of 100; readings below that threshold are withheld. 79 40 / 100 minimum
Price signal supported Trading evidence supports price-derived interpretation.
Activity evidence
These observed market values underpin the Trading Activity score and its coverage.- 24h volume
- $553.22M
- Turnover
- 20.02%
- Valid markets
- 10
- Active exchanges
- 8
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 Supporting market context is shown for orientation but is not treated as a reliable price signal.- Displayed price The latest displayed USD price. Low trading support can make this value sensitive to a small number of trades.
- $0.21
- Market cap The current market value of coins already in circulation.
- $2.76B
- Reported pairs The number of market pairs reported for this asset.
- 485
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.
Why Ethena is price-neutral
Neutral 47 100% data coverage Market Signal explains the weighted evidence behind the current price-based label. It describes current conditions and is not a price forecast.
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
Each bar shows how a formula-weighted input pulls the composite reading below or above its neutral midpoint. Momentum 55% weight +2 pts
Historical position 20% weight −3 pts
Milestone recency 15% weight −2 pts
Volume confirmation 10% weight 0 pts
Historical position
The current price is placed between the all-time low and high on a logarithmic scale, matching the formula input. 35% of log range
Log scale · formula input Logarithmic placement gives equivalent percentage moves comparable visual distance across the full historical range. A complete ATL and ATH range is not available for this asset.
Momentum evidence
These are the price-change horizons used by the Market Signal momentum component.- 24H
- Up 0.01%
- 7D
- Up 10.97%
- 30D
- Down 23.30%
- 90D
- Up 146.28%
- 1Y
- Down 71.33%
Market context
Not directly scored These supporting values provide context and are not directly included in the displayed signal score.- CEX volume (24h) The estimated centralized-exchange trading volume over the past 24 hours.
- $550.99M
- DEX volume (24h) The estimated decentralized-exchange trading volume over the past 24 hours.
- $2.23M
- Total supply The total number of tokens that currently exist, excluding any that have been verifiably burned.
- 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. Markets excluded from CMC price or volume calculations are hidden.
Sort by
| Pair | Market details | |||||
|---|---|---|---|---|---|---|
| 1 | ENA/USDT | $0.20497 | Vol (24h) $45.97M | 663 |
| |
| 2 | ENA/USDC | $0.20496 Best price | Vol (24h) $28.76M | 612 |
| |
| 3 | ENA/USD | $0.205 | Vol (24h) $6.58M | 609 |
| |
| 4 | ENA/KRW | $0.20723 | Vol (24h) $14.29M | 487 |
Use the market pair link to visit this exchange. | |
| 5 | ENA/USDT | $0.20506 | Vol (24h) $7.6M | 643 |
| |
| 6 | ENA/USDC | $0.20507 | Vol (24h) $1.4M | 625 |
| |
| 7 | ENA/USDT | $0.20525 | Vol (24h) $40.76M | 566 |
| |
| 8 | ENA/USDT | $0.2069 | Vol (24h) $26.65M | 603 |
Use the market pair link to visit this exchange. | |
| 9 | ENA/USDT | $0.20498 | Vol (24h) $11.64M | 641 |
Use the market pair link to visit this exchange. | |
| 10 | ENA/USDT | $0.20516 | Vol (24h) $20.78M | 518 |
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Latest Ethena news
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.
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.
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 13,406,250,000
Total Supply 15,000,000,000
Max Supply 15,000,000,000
Ethena FAQs
What is the price of Ethena today?
As of Oct 26, 2026, Ethena trades at $0.21.
What is the market cap of Ethena?
Ethena has a market capitalization of $2,762,943,213.64.
What is the 24-hour trading volume of Ethena?
Ethena has a 24-hour trading volume of $553,215,689.77.
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 86.41% 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 193.42% above its all-time low.
What is the TVL of Ethena?
Ethena has a total value locked of $5,019,158,444.52.
What is the market cap to TVL ratio of Ethena?
Ethena has a market cap to TVL ratio of 0.55x.
