Ask about Ethena · freeTotal Value Locked$5.152b
TVL by Chain
Ethereum$5.149b
TON$2.41m
Key Metrics
Fees 30d$22.02m
Fees 30d by chain
Ethereum$22.02m
Fees 7d$5.3m
Ethereum$5.3m
Fees 24h$4.13m
Ethereum$4.13m
Cumulative Fees$1.07b
Ethereum$1.07b
Revenue 30d$54,520
Revenue 30d by chain
Ethereum$54,520
Revenue 7d$34,937
Ethereum$34,937
Revenue 24h$4,549
Ethereum$4,549
Cumulative Revenue$333m
Ethereum$333m
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$2m
Earnings 30d$54,520
Earnings 7d$34,937
Earnings 24h$4,549
Cumulative Earnings$333m
Market Cap$2.723b
$ENA Price$0.20
Fully Diluted Valuation$3.046b
Outstanding FDV$2.71b
$ENA Volume 24h$471.84m
CEX Volume$257.15m
DEX Volume$358.14m(75.9% of total)
Total Raised$166m
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: StrategicInvestors: 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
- Ethena PayCrypto Card Issuer
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 APY4.79%
User Activity
Active Addresses (24h)53
Transactions (24h)97
Frequently asked questions
What is Ethena's TVL?
Ethena currently has $5.152b in total value locked. TVL has increased 0.6% 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 100%.
How much has Ethena generated in fees and revenue?
Over the past 30 days, Ethena generated $22.02m in fees. Of that, $54,520 was protocol revenue. Based on the trailing year, the annualized rate is $249.37m in fees and $2m in revenue.
What is the ENA token price and valuation?
ENA is currently trading at $0.20. Its circulating market capitalization is $2.723b, ranking it #53. Its fully diluted valuation is $3.046b. Supply currently stands at 13.406b circulating, 15b total supply, 15b maximum supply.
How has ENA performed recently?
ENA is down 3.9% over the past 7 days and up 45.1% over the past 30 days. Its all-time high is $1.52, reached on Apr 11, 2024. The token is currently 86.6% below that level.
Which protocols are included in Ethena?
Ethena is a parent protocol whose tracked products include Ethena USDe, Ethena USDtb, Ethena tsUSDe, and Ethena Pay.
How many yield pools does Ethena have?
DefiLlama tracks 1 Ethena yield pool with an average APY of 4.8%.