Key Metrics
Fees (Annualized)$310.46m
Fees 30d$15.23m
Ethereum$15.23m
Fees 7d$3.59m
Ethereum$3.59m
Fees 24h$68.69
Ethereum$68.69
Cumulative Fees$1.029b
Ethereum$1.029b
Revenue (Annualized)$5.43m
Revenue 30d$28,572.36
Ethereum$28,572.36
Revenue 7d$7,197.58
Ethereum$7,197.58
Revenue 24h$68.69
Ethereum$68.69
Cumulative Revenue$332.94m
Ethereum$332.94m
Incentives 1y$0
$0
$0
$0
$0
Earnings (Annualized)$5.43m
$28,572.36
$7,197.58
$68.69
$332.94m
Market Cap$1.536b
$ENA Price$0.16
$2.344b
$2.061b
$ENA Volume 24h$746.54m
CEX Volume$288.76m
DEX Volume$474.22m(63.52% of total)
$ENA Liquidity$20.46m
Uniswap V3$20.2m
Aerodrome Slipstream$260,794
Total Raised
Jul 17, 2023$6mRound: SeedInvestors: Dragonfly Capital, Maelstrom, Deribit, Bybit, Mirana Ventures, OKX Ventures, BitMEX, Gemini, Lightspeed Faction, Huobi Ventures, Nascent, BlockTower Capital, Delphi Digital, Wintermute Ventures, GSR, CMT Digital, Tangent, Finality Capital Partners, No Limit Holdings, Cobie, Anthony Sassano, Julian Koh, Jai Prasad
Feb 16, 2024$14mRound: Strategic Investors: Dragonfly Capital, Maelstrom
Mar 8, 2024Round: PrivateInvestors: Binance Labs
Feb 24, 2025$100mRound: PrivateInvestors: Franklin Templeton Investments, Pantera Capital, Polychain Capital, Dragonfly Capital, STIX, F-Prime Capital
Feb 26, 2025$16mRound: StrategicInvestors: MEXC Ventures
Sep 30, 2025$30mRound: StrategicInvestors: MEXC Ventures
Jun 9, 2026Round: StrategicInvestors: Janus Henderson Investors
Protocol Information
Ethena is a synthetic dollar protocol built on Ethereum
- Ethena USDeBasis Trading
- Ethena USDtbRWA
- Ethena tsUSDeYield
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Yields
Pools Tracked1
Average Supply APY4.17%
Frequently Asked Questions
What is Ethena's TVL?
Ethena currently has $4.363b in total value locked. TVL has increased 3.6% over the past 30 days.
What chains does Ethena operate on?
Ethena operates on 2 chains: Ethereum and TON. Ethereum holds the largest share at 99.9%.
How much has Ethena generated in fees and revenue?
Over the past 30 days, Ethena generated $15.23m in fees. Of that, $28,572.36 was protocol revenue. Based on the trailing year, the annualized rate is $310.46m in fees and $5.43m in revenue.
What is the ENA token price and valuation?
ENA is currently trading at $0.16. Its circulating market capitalization is $1.528b, ranking it #73. Its fully diluted valuation is $2.332b. Supply currently stands at 9.828b circulating, 15b total supply, 15b maximum supply.
How has ENA performed recently?
ENA is up 88.5% over the past 7 days and up 81.4% over the past 30 days. Its all-time high is $1.52, reached on Apr 11, 2024. The token is currently 89.8% below that level.
Which protocols are included in Ethena?
Ethena is a parent protocol whose tracked products include Ethena USDe, Ethena USDtb, and Ethena tsUSDe.
How many yield pools does Ethena have?
DefiLlama tracks 1 Ethena yield pool with an average APY of 4.2%.
