What is the current price of Ethena (ENA)?

The current price of Ethena (ENA) is 0.5846484064504688 AUD, representing a +2.23 from the day prior.

Can I buy Ethena (ENA) on Coinstash?

Yes - you can easily buy and sell Ethena (ENA) on Coinstash. Simply login or sign up, to start buying Ethena (ENA) in minutes.

Where is the best place to buy Ethena (ENA) in Australia?

The best place to buy Ethena (ENA) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Ethena (ENA) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of Ethena (ENA)?

The trading volume of Ethena (ENA) is 275.4M AUD in the last 24hrs, representing a +2.23 from the day prior.

How can I buy Ethena (ENA)?

Ethena (ENA) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of Ethena (ENA)?

The current market cap of Ethena (ENA) is 3.1B AUD.

Can I convert Ethena (ENA) to cash?

Yes - With Coinstash you can convert your Ethena (ENA) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many Ethena (ENA) are there?

The current circulating supply of Ethena (ENA) is 5.3B.

Is Coinstash a safe place to buy Ethena (ENA) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Ethena (ENA) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy Ethena (ENA)

What is Ethena?

Ethena is a decentralised finance (DeFi) protocol built on the Ethereum blockchain. It introduces a synthetic dollar known as USDe, which aims to provide a stable, reliable, and scalable digital currency independent of traditional banking infrastructures.

How does Ethena work?

Ethena operates on the Ethereum blockchain, utilising smart contract technology to offer financial services within its ecosystem. It employs delta hedging – a financial strategy that mitigates the price volatility of Ethereum – to support the stability of its synthetic dollar, USDe. By leveraging Ethereum's Proof of Stake (PoS) consensus mechanism, Ethena maintains security and integrity. Smart contracts are key in the minting and redeeming processes of USDe, as well as facilitating staking and governance activities within the ecosystem.

What are the potential use cases for Ethena?

Ethena's synthetic dollar, USDe, has several use cases including:

Decentralised Lending: USDe serves as a stable medium in lending protocols.
Yield Farming: It can be used to earn yields in various financial strategies.
Perpetual Futures Trading: Utilised as collateral in futures trading through partnerships.
Cross-Border Transactions: Facilitates transactions without reliance on traditional banking systems.

Ethena's integration with major DeFi protocols and partnerships enhances its applicability in sectors like DeFi, cryptocurrency trading, and broader financial services.

What is the history of Ethena?

The concept of Ethena was developed by co-founder Roxanne Petraeus, initially aimed at disrupting the compliance industry but eventually pivoting to focus on DeFi. Ethena has achieved significant milestones such as a Total Value Locked (TVL) nearing $5 billion and strategic partnerships, notably for futures trading. It has been supported by institutional investors, increasing its market cap and presence in the DeFi market. Through technical improvements and strategic collaborations, Ethena continues to advance its offerings in the digital finance landscape.