Overview
Ethena(ENA)
Token Price$0.15-2.12%over 24h
All Time HighApr 11, 2024$1.52
All Time LowJun 30, 2026$0.07
Key Metrics
Market Cap$2.067b
Fully Diluted Valuation$2.297b
Circ. Supply13.5b ENA
Max Supply15b ENA
Outstanding FDV$2.055b
Volume 24h$425.36m
CEX$404.27m
Spot$97.55m
USD Perp$306.72m
COIN Perp$0
DEX$21.08m
Spot$211,125
USD Perp$20.87m
COIN Perp$0
Open Interest$292.13m
CEX$252.34m
USD Perp$252.34m
COIN Perp—
DEX$39.79m
USD Perp$39.79m
COIN Perp—
Total Raised$166m
Seed · Jul 17, 2023$6m
Strategic · Feb 16, 2024$14m
Private · Mar 8, 2024Undisclosed
Private · Feb 24, 2025$100m
Strategic · Feb 26, 2025$16m
Strategic · Sep 30, 2025$30m
Strategic · Jun 9, 2026Undisclosed
Token information
Income statement for ENA
Include incomes from Ethena
| Q4 2026* | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $25.13M | $53.55M | $51.6M | $65.11M | $96.16M | $151.08M | $48.73M | $88.69M | $125.89M | $27.75M | $51.03M | $208.68M | $85.19M |
| Mint Fees | $95.01K | $79.74K | $1.11M | $655.42K | $463.26K | $10.18M | $1.39M | $739.81K | $3.62M | $84.3K | $2.42M | $197.07M | $85.19M |
| Reserve Fund | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.19M | $1.03M | $14.11M | $11.61M | $0 |
| sUSDe Staking Rewards | $5.56M | $18.91M | $23.17M | $35.41M | $50.44M | $87.28M | $31.88M | $73.34M | $102.67M | $26.64M | $34.5M | $509 | $0 |
| Extra Rewards | $6.69M | $16.92M | $19.57M | $18.13M | $34.73M | $38.49M | $15.45M | $14.61M | $16.41M | $0 | $0 | $0 | $0 |
| Aave Liquidation Fees | $12.78M | $17.64M | $7.76M | $10.91M | $10.52M | $15.13M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Cost of Revenue | $25.03M | $53.47M | $50.5M | $64.45M | $95.7M | $140.9M | $47.34M | $87.95M | $119.08M | $26.64M | $34.5M | $509 | $0 |
| sUSDe Staking Rewards | $5.56M | $18.91M | $23.17M | $35.41M | $50.44M | $87.28M | $31.88M | $73.34M | $102.67M | $26.64M | $34.5M | $509 | $0 |
| Extra Rewards | $6.69M | $16.92M | $19.57M | $18.13M | $34.73M | $38.49M | $15.45M | $14.61M | $16.41M | $0 | $0 | $0 | $0 |
| Aave Liquidation Fees | $12.78M | $17.64M | $7.76M | $10.91M | $10.52M | $15.13M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $95.01K | $79.74K | $1.11M | $655.42K | $463.26K | $10.18M | $1.39M | $739.81K | $6.82M | $1.11M | $16.53M | $208.68M | $85.19M |
| Mint Fees | $95.01K | $79.74K | $1.11M | $655.42K | $463.26K | $10.18M | $1.39M | $739.81K | $3.62M | $84.3K | $2.42M | $197.07M | $85.19M |
| Reserve Fund | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.19M | $1.03M | $14.11M | $11.61M | $0 |
Earnings | $95.01K | $79.74K | $1.11M | $655.42K | $463.26K | $10.18M | $1.39M | $739.81K | $6.82M | $1.11M | $16.53M | $208.68M | $85.19M |
Risks
How much debt can be issued against ENA as collateral across lending protocols.
Maximum possible exposure to ENA
$8,795
$590.21 (max additional borrows against ENA) + $8,205 (bad debt if ENA was hacked now)
Morpho V1
$8,795 at-risk exposure = $8,205 bad debt if hacked + $590.21 additional borrowable against ENA
Methodology and limitations
Showing collateral exposure for ENA on Ethereum. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
Show exposure details
Each row is one protocol-chain exposure for ENA as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Markets
Token rights and value accrual
Ethena
ENAsENAUSDesUSDeValue accrues through ecosystem airdrops to sENA holders and revenue directed to sUSDe holders
Token Usage
Token usage needs a subscription
Unlocks
Token unlocks need a subscription
Yields
Tracking 9 pools, average APY 84.88%