Ethena

Ethena ENA

Status: ListedLending, RWA, & DeFi Spot
Token GradeBBB
Overall Score: 33.8 /100Rank: 44 of 128
Disclosures BBB4.80 /10
Performance AA7.05 /10

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Disclosures Overview

Core Contributors

Legal & Financial

Tokenomics

Service Providers

Performance Overview: Market Quality

Total Volume (as % of Market Cap)

Market Cap (USD)

Trade Volume (USD)

Trade Volume (prev. 30D avg.)$1,106,292,707
Market Capitalization (prev. 30D avg.)$1,435,834,167
Trade Volume / Market Capitalization67.22%
GradeAAAScore10.00Percentile100.00%

Depth +/- 2% (as a % of Market Capitalization)

Depth +/- 2% (USD) | Market Cap (USD)

Depth (+/- 2%)Market Cap
Depth +/- 2% (prev. 30D avg.)$86,781,712
Market Capitalization (prev. 30D avg.)$1,435,834,167
Depth / Market Capitalization9.92%
GradeAAAScore10.00Percentile100.00%

Bid / Ask Spread (Volume weighted spreads)

Bid / Ask Spread (%)

BinanceBybit SpotFameex
Exchange with Tightest SpreadsFameex
Volume Weighted Bid / Ask Spread (prev. 30 days)0.1852%
GradeAAScore7.00Percentile91.34%

Price Performance

30D Change: 58.14%

Price (USD)

Count Green Candles14
Count Red Candles16
Candle "Win Rate"46.67%
GradeAScore5.00Percentile47.15%

Open Interest (as a % of Market Capitalization)

Top Venues by OI (prev. 30D avg.)

Binance (Futures)$60,790,536
Aivora-Exchange-Futures$51,135,055
Bybit (Futures)$49,153,717
Total (All Exchanges)$377,165,969
Open Interest / Market Capitalization28.08%
GradeAAAScore10.00Percentile100.00%

Funding Rate

Funding Rate (%)

Binance (Futures)Aivora-Exchange-FuturesBybit (Futures)
Open Interest-Weighted Funding Rate0.0186%
GradeAAAScore9.00Percentile92.37%

Performance Overview: Liquidity Footprint

Top-Tier Exchange Coverage

4 out of 4 (100%)BinanceOKXCoinbaseUpbit
GradeAAAScore10.00Percentile100.00%

Total Volume (CEX vs DEX)

Volume (USD)

CEX Volume (avg)$228,606,248
DEX Volume (avg)$1,368,110
CEX Volume share99.98%
GradeAScore5.00Percentile72.44%

Total +/- 2% Depth (CEX vs DEX)

+/- 2% Depth (USD)

CEX Depth (avg)$42,864,168
DEX Depth (avg)$105,191
CEX Depth share99.89%
GradeAScore5.00Percentile66.14%

Total Volume (Spot vs Perps)

Volume (USD)

Spot Volume (avg)$229,974,358
Perps Volume (avg)$687,556,160
Spot Volume share21.37%
GradeAAAScore8.00Percentile76.38%

Total +/- 2% Depth (Spot vs Perps)

+/- 2% Depth (USD)

Spot Depth (avg)$42,969,359
Perps Depth (avg)$11,058,858
Spot Depth share59.36%
GradeAAAScore10.00Percentile100.00%

Performance Overview: Tokenomics

Disclosed Token Vesting vs Actual Vesting

Disclosed TGE DateN/A
Disclosed DurationN/A
Disclosed Total GroupsN/A
Disclosed Max. Supply15B ENA

Commentary versus actual token vesting

N/A

GradeCCCScore0.00Percentile100.00%

Market Cap vs. FDV (Ratio)

0.66:1
GradeAAA
Score8.00
Percentile64.57%

Fully Diluted Valuation (FDV) (USD)

$2,150,373,450
GradeAAA
Score10.00
Percentile100.00%

Annualized Rate of Inflation

25.95%
GradeB
Score3.00
Percentile69.44%

Data as of 2026-08-26 · Scoring config v4 · Rated 128 of 128 projects