Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money that is not reliant on traditional banking system infrastructure. Its synthetic dollar USDe is known as the 'Internet Bond' and offers a dollar-denominated savings instrument with the benefits of DeFi. The fully diluted valuation (FDV) of Ethena (ENA) is $1,492,208,490. This is a statistical representation of the maximum market cap, assuming the maximum number of 15 Billion ENA tokens are in circulation today. Depending on how the emission schedule of ENA tokens are designed, it might take multiple years before FDV is realized. With a price decline of -5.80% in the last 7 days, Ethena (ENA) is underperforming the global cryptocurrency market which is up 0.10%, while underperforming when compared to similar World Liberty Financial Portfolio cryptocurrencies which are down -0.10%.
Grayscale completed its Q1 2026 rebalancing of both its DeFi Fund and Smart Contract Fund, with the headline change…
Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money that is not reliant on traditional banking system infrastructure.
Ethena (ENA) is categorised as: Manta Network Ecosystem, Swellchain Ecosystem, Avalanche Ecosystem.
The official Ethena site is https://www.ethena.fi/.
Most recent Ethena coverage: "Grayscale Swaps AERO for ENA in Q1 2026 DeFi Fund Rebalance." — read at /en-US/a/grayscale-swaps-aero-for-ena-in-q1-2026-defi-fund-rebalance.
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