Ethena (ENA) Exchange

Looking to exchange ENA? Swapzone compares live offers from 18+ partners by rate

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Ethena Market Data & Key Metrics

Price

$ 0.23

24h % price

-4.77%

7d % price

-14.80%

Market Cap

$ 3,024,797,576.03

24h volume

$ 481,050,553.29

Coin supply

15,000,000,000

Ethena Price Chart and Market Analysis

The current exchange rate for Ethena is 0.2250936991788949 USD.When you want to ethena swap or exchange ENA on Swapzone

enaUSD

0.2251

-8.02%(-0.02)

enaby CoinGecko

Popular ENA Exchange Pairs

Trocar ENA PorPairsStatus

Bitcoin

ena / btc

Active

Ethereum

ena / eth

Active

Monero

ena / xmr

Active

ZCash

ena / zec

Active

Litecoin

ena / ltc

Active

XRP

ena / xrp

Active

Tether

ena / usdt

Active

Stellar

ena / xlm

Active

TRON

ena / trx

Active

USD Coin

ena / usdc

Active

Other Cryptocurrencies to Exchange

Popular Alternatives to Buy

Bitcoinbtc Cardanoada Ethereumeth GRAMton Litecoinltc Moneroxmr Pirate Chainarrr Solanasol Stellarxlm Tetherusdt TRONtrx USD Coinusdc USDCEusdceop XRPxrp ZCashzec

What is ENA?

About Ethena

ENA is the governance and value-accrual token of Ethena

ENA tokenomics

Ethena launched with a maximum supply of 15 billion ENA. As of mid-2026

What determines ENA's value

ENA's primary value driver is protocol revenue from delta-neutral positions: the larger the USDe supply in circulation

How to Exchange Ethena on Swapzone

Select a pair to exchange

Choose ENA as the asset you send

Choose the best offer

Compare ENA offers by rate

Enter receiving wallet address

Paste a standard Ethereum 0x wallet address that supports ERC-20 tokens. No MEMO or tag is needed unless the offer asks for one.

Send deposit to generated address

Send the exact ENA amount to the generated deposit address on Ethereum (ERC-20). A transfer on the wrong network may not be recoverable.

Watch your exchange complete

Follow the order status on the Swapzone page. The swap completes after the partner confirms your deposit and sends the asset you chose to your wallet.

How to Choose the Best Ethena Exchange

Swapzone shows every live ENA offer in one list

By best rates

By the highest transaction speed

By best rating

ENA is a mid-cap token

Ethena (ENA) Price Analysis

ENA's price context is a race between revenue and unlocks. Revenue comes from funding rates on delta-neutral positions and grows with USDe supply: $57 million in December 2025 and over $500 million since launch. On supplyNo prediction is certain. Regulatory changesDisclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and trading carries substantial risk of loss. Past performance is not indicative of future results.

Frequently Asked Questions About Ethena (ENA)

How does Ethena keep USDe at $1 without fiat reserves? dropdown

Ethena holds staked ETH as collateral and opens matching short positions in perpetual futures. When ETH falls

Where does Ethena's revenue come from? dropdown

From the funding rates that perpetuals traders pay to keep long exposure. It generated $230.8 million in total revenue in 2025

What is ENA used for? dropdown

ENA is the governance and value-accrual token of the Ethena protocol. Value accrual to ENA holders depends on mechanisms such as the buyback revenue-sharing approved in September 2026.

What did the August 2026 announcement change for unlocks? dropdown

The Ethena Foundation announced a single investor release of about 1.41 billion ENA scheduled for October 5

How much ENA is still released every month? dropdown

Core Contributor releases of 93.75 million ENA plus Foundation releases of 40.625 million

How does the ENA buyback mechanism work? dropdown

Approved on September 2

Is the buyback mechanism active now? dropdown

Not yet according to the September 2026 figures: USDe supply was $4.22 billion on September 2

How big was USDe at its peak? dropdown

It became the third largest stablecoin by market cap in August 2025

How much ENA is circulating? dropdown

About 9.56 billion ENA