Ethena - Protocol Analytics

Explore Ethena, a Protocol with $5.01B in total value locked (TVL). Get real-time metrics, charts, and insights. Data from DefiLlama.

Website @ethena

TVL

$5.01B

+0.41% from yesterday

-0.97% from last week

Volume (24h)

5.85% TVL dominance

Fees (24h)

$248

$4.23M 7d fees

$17.21M 30d fees

Revenue (24h)

$248

$40K 7d revenue

$92.4K 30d revenue

Ethena TVL chart-54.91%1Y

What's happening with Ethena

6 days ago

Arthur Hayes said he had fully exited his investment fund Maelstrom’s directional book, after selling his Ethena (ENA) holdings. Hayes had repeatedly predicted that ENA would reach $10 and, four weeks before his exit post, said it could reach at least $1.

2 sources

AI summary of public news articles. It can contain errors and is not financial advice.

About Ethena

USDe is Ethena’s synthetic dollar backed by delta‑neutral ETH perpetual hedge positions rather than off‑chain treasuries. The collateral basket auto‑rebalances between spot ETH, LSTs and short perps so the net delta remains near zero, turning staking rewards and funding rates into protocol revenue. USDe launched on Ethereum in January 2024 and surpassed $2 billion supply within five months, with deep secondary liquidity on Curve and Bybit.