Ask about Ethena · freeTotal Value Locked$5.214b
TVL by Chain
Ethereum$5.211b
TON$2.97m
Key Metrics
Fees 30d$21.61m
Fees 30d by chain
Ethereum$21.61m
Fees 7d$3.27m
Ethereum$3.27m
Fees 24h$3.23m
Ethereum$3.23m
Cumulative Fees$1.061b
Ethereum$1.061b
Revenue 30d$20,454
Revenue 30d by chain
Ethereum$20,454
Revenue 7d$3,087
Ethereum$3,087
Revenue 24h$2,785
Ethereum$2,785
Cumulative Revenue$332.96m
Ethereum$332.96m
Incentives 1y$0
$0
$0
$0
$0
Earnings (Annualized)$2.02m
$20,454
$3,087
$2,785
$332.96m
Market Cap$2.886b
$ENA Price$0.22
$3.23b
$2.869b
$ENA Volume 24h$546.29m
CEX Volume$306.52m
DEX Volume$403.02m(73.77% 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 APY4.84%
User Activity
Active Addresses (24h)44
Transactions (24h)59
Frequently Asked Questions
What is Ethena's TVL?
Ethena currently has $5.214b in total value locked. TVL has increased 6.9% 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 $21.61m in fees. Of that, $20,454 was protocol revenue. Based on the trailing year, the annualized rate is $261.17m in fees and $2.02m in revenue.
What is the ENA token price and valuation?
ENA is currently trading at $0.22. Its circulating market capitalization is $2.886b, ranking it #54. Its fully diluted valuation is $3.23b. Supply currently stands at 13.406b circulating, 15b total supply, 15b maximum supply.
How has ENA performed recently?
ENA is down 11.6% over the past 7 days and up 33.6% over the past 30 days. Its all-time high is $1.52, reached on Apr 11, 2024. The token is currently 85.8% 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%.