Ethena: everything you need to know about ENA
Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.
Ethena facts
Abbreviation
ENA
Category
Stablecoin
Founder(s)
Guy Young
Blockchain
Ethereum
Protocol
N/A
Launch date
2024
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What is Ethena?
Ethena (ENA) is an innovative protocol introducing a synthetic dollar: USDe, a new generation stablecoin. The goal of USDe is to promote decentralization, accessibility, and security in the world of digital currency.
How does Ethena work?
Unlike stablecoins like USDC and USDT, which rely on fiat currency, USDe uses crypto and short positions in futures as collateral. While this innovative system offers opportunities, it also brings unique risks due to the complexity and volatility of these markets.
The ENA token
The ENA token is an essential component of the Ethena ecosystem. It serves as the foundation for transactions, governance, and the operation of the USDe stablecoin. Users can use ENA for staking and to influence decisions within the network.
The technology behind Ethena.
Ethena uses the Ethereum blockchain and Layer-2 technology to support fast, secure, and scalable transactions. Smart contracts ensure efficient collateral management and autonomous system operation. The combination of crypto-backed collateral and derivative trading makes Ethena a unique protocol in the world of stablecoins.
The Ethena ecosystem.
The ecosystem of Ethena includes:
- The Stablecoin: A decentralized and scalable stablecoin that is independent of fiat.
- The Internet Bond: A globally accessible savings instrument based on Ethereum staking.
€0.6225▲1.43%
Benefits of Ethena
- Decentralization: USD completely independent of traditional financial institutions.
- Scalability: The use of Ethereum and Layer-2 solutions enables fast and inexpensive transactions.
Disadvantages of Ethena.
- Risks: The use of short positions and derivatives carries exceptional risks.
Who is the founder of Ethena?
Ethena was founded by Guy Young. His expertise in both technology and financial markets has greatly influenced the success of the protocol.
Expectations for the coming period
Experts expect a minimum price of €1.8200 in 2027 and a minimum price of €6.0200 in 2032.
Ethena price in the last 24 hours
View all key statistics of the past 24 hours here.
€0.6607
€0.6693
€0.4997
Market information
Use these figures to get a better picture of the Ethena market.
€1 billion
€2.1 billion
3.1 billion
€1.4100
Ethena Return On Investment
See how much the price has risen or fallen over the years.
Historical Ethena price
Here you can see Ethena's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!
| Date | Price | Volume | Marketcap |
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Frequently asked questions
Ethena doesn't have a fixed value because the exchange rate is always in motion. Whenever you get distracted or even blink, it has already changed. Right now, the value of Ethena is €0.6225.
You can easily buy Ethena on BLOX! Quickly download the app, and within two minutes, you'll have your own crypto portfolio with Ethena and your other favorite coins.
So much is happening in the crypto market that it's sometimes difficult to stay continuously informed. That's why we've already taken a look at the expectations for you. According to experts, the value of ENA is expected to continue rising steadily in the coming years. For instance, the price of Ethena is predicted to reach €1.5800.
We don't have a crystal ball either, so it's up to you to decide whether you want to invest in ENA. We can only recommend once again that you thoroughly research the market and only invest what you're willing to lose.
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