Buy Ethena ENA
Ethena is a DeFi platform that offers a synthetic dollar (sUSDe) that allows plaform users to earn a native yield while maintaining the stability of a dollar-pegged asset. Built on Ethereum, Ethena integrates with various DeFi protocols to provide decentralised lending, borrowing, and yield farming opportunities. Launched in 2024, Ethena aims to make stable, yield-generating assets more accessible to users worldwide.
What is Ethena (ENA)?
Designed to offer native yields, Ethena is a decentralised finance (DeFi) platform that provides a synthetic dollar, called sUSDe. The platform enables users to earn yield on their crypto while maintaining the stability of dollar-pegged USD. Ethena aims to facilitate decentralised financial services, making it easier for users to manage assets in a stable and efficient manner.
How does Ethena work?
Ethena operates on the Ethereum blockchain, using smart contracts to manage synthetic assets and generate yield. Its synthetic dollar, sUSDe, is pegged to the value of the US dollar, providing a stable currency for yield farming and other DeFi activities. The platform uses Ethereum's Proof of Stake (POS) consensus mechanism and integrates with various DeFi protocols, allowing users to earn yield while participating in decentralised lending, borrowing, and transactions.
What are the potential use cases for Ethena?
Ethena’s sUSDe has a many use cases within the DeFi space like:
Yield farming with synthetic assets
Stablecoin transactions for digital payments
Decentralised lending and borrowing
It is particularly valuable for industries like decentralised finance and cryptocurrency trading, where stable, yield-generating assets are critical.
What is the history of Ethena?
Ethena was launched in 2023 by Guy Young, his goal was to create a stable, yield-generating synthetic asset. In the same year, the platform introduced sUSDe and integrated with several DeFi protocols to enhance liquidity and yield generation. Since its launch, Ethena has focused on expanding its features and improving user access to decentralised financial services.
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Frequently Asked Questions (FAQs)
What is the current price of Ethena (ENA)?
The Ethena price is $0.82951683 AUD, representing a -3.78% from the day prior.
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 $431.3M AUD in the last 24hrs, representing a -3.78% 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 $2.3B 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 2.8B.
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.