Gate News message. On April 8, according to Gate market data, as of the time of publication, ENA (Ethena) is trading at $0.0903. In the past 24 hours, it is up 10.81%, reaching a high of $0.0923 and falling to a low of $0.0794. The total trading volume over the last 24 hours was $2.9118 million. Its current market cap is approximately $791 million, ranking 88th.
Ethena is an Ethereum-based synthetic dollar protocol, aiming to provide crypto-native solutions for users who do not rely on traditional banking system infrastructure, while also offering a globally usable savings tool denominated in U.S. dollars—an “internet bond.” Its core product USDe has accumulated an issued supply of $6.9 billion. Through an sUSDe staking mechanism, it provides users with a yield of 3.5% APY. Ethena has integrated with multiple mainstream exchanges and DeFi protocols such as Aave, supports on-chain deployment across 24 networks, and has over 937k users. The protocol employs transparency measures such as weekly independent third-party validation and monthly custodian proof, and its current asset coverage ratio is 101.16%.
This message does not constitute investment advice; investment involves risks, including market volatility.
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