Ethena: Decentralized stablecoin USDe, backed by crypto and short futures.
Ethena creates USDe, a crypto-backed stablecoin, using staked ETH and short futures for price stability and decentralization.
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What is Ethena (ENA)?
Ethena is a decentralized protocol built on Ethereum that aims to create USDe, a crypto-native stablecoin. Differing from fiat-backed stablecoins like USDT and USDC, USDe is a synthetic dollar supported by cryptocurrency collateral and short futures. Ethena's goal is to offer a scalable, censorship-resistant, and globally accessible financial system within the crypto space. Key features include: USDe, which uses a delta-neutral strategy (staking ETH and shorting futures) to maintain price stability; decentralization via smart contracts and oracles (although some derivative positions are on centralized exchanges); and community governance through a DAO using the ENA token.
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Ethena price live information
As of now, Ethena is trading at 0.3762 USD, with a 24-hour trading volume of approximately 82.12M USD. The ENA to USD price is updated in real time. Over the past 24 hours, Ethena has increased by 24.18%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 1.99B USD. Currently, there are 5 285 937 500 ENA in circulation out of a maximum supply of 15 000 000 000 ENA.
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