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ETHDNA

ETHDNA is a Web3 DNA generator that converts blockchain addresses into unique 3D DNA helices. Each address generates a unique DNA structure, including helical shape, color pattern, and genetic data.

What is Ethena?

Ethena is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, offering a synthetic dollar stablecoin called USDe. The project's mission is to provide a crypto-native, scalable, and censorship-resistant alternative to traditional stablecoins and banking systems, aiming to democratize access to stable and transparent money for both DeFi and CeFi participants. (kdj.com)

How Does Ethena Work?

Ethena operates by issuing USDe, a synthetic dollar pegged 1:1 to the US dollar. USDe maintains its stability through a delta-neutral hedging strategy, utilizing on-chain collateral like Ethereum and Bitcoin, which is hedged via short positions in perpetual futures on liquid venues. This approach offsets directional exposure to cryptocurrency price movements, ensuring the stability of USDe. (cube.exchange)

What Makes Ethena Unique?

Ethena distinguishes itself by offering a yield-generating stablecoin, USDe, which is not reliant on traditional banking infrastructure. The protocol's innovative use of delta-neutral hedging strategies allows it to provide a stable and transparent digital dollar, appealing to both retail and institutional investors seeking yield in the DeFi space. (coingecko.com)

Who Are the Founders of Ethena?

Ethena Labs was founded by Guy Young in July 2023. The project has attracted attention from notable investors such as Dragonfly, OKX Ventures, Bybit, and Deribit, who participated in the initial seed round, raising $6.5 million. A subsequent fundraising round raised an additional $14 million, bringing the project's total funding to $20.5 million and valuation to $300 million. (coingecko.com)

Latest News

What Key Events Have There Been for Ethena?

Ethena has achieved significant milestones, including the rapid growth of its synthetic dollar, USDe, which reached a market capitalization of $1.6 billion shortly after launch. The project also conducted a successful airdrop of its governance token, ENA, distributing 750 million tokens to early adopters, resulting in a market cap of $1 billion. (thedefiant.io)

Project Announcements

Ethena has announced partnerships with major exchanges, including Binance, to integrate its synthetic stablecoin, USDe, across their platforms. This collaboration aims to enhance the accessibility and adoption of USDe among a broader user base. (tekedia.com)

Upcoming Events

Latest Airdrop

Ethena's Sats Campaign, which began after the initial Shards Campaign, is set to run for five months or until USDe supply reaches $5 billion. Participants can earn rewards by engaging in Ethena-related pools on various platforms. (coingecko.com)

TGE

The Token Generation Event (TGE) for ENA occurred on April 2, 2024, alongside a large-scale airdrop and listings on major centralized exchanges. (cube.exchange)

Projects Announcements

Where to Buy ENA?

ENA is tradable on top-tier centralized exchanges such as Binance, KuCoin, and Bybit, as well as on decentralized exchanges like Uniswap. These platforms offer various trading pairs, including ENA/USDT and ENA/ETH. (coingecko.com)

ENA Price

Daily Trading Volume

As of the latest data, ENA has a 24-hour trading volume of approximately $64,938,336, indicating active market participation. (kdj.com)

All-Time High

ENA reached an all-time high of $1.88, with the current price trading around $0.6869, reflecting market fluctuations since its peak. (kdj.com)

All-Time Low

The all-time low for ENA was $0.32, with the current price significantly higher, indicating positive market sentiment since the low. (kdj.com)

Market Cap and Valuation

Market Cap

ENA's market capitalization is approximately $1 billion, ranking it among the top cryptocurrencies by market cap. (thedefiant.io)

Fully Diluted Valuation

The fully diluted valuation (FDV) of ENA is $11.7 billion, which is more than four times that of Maker’s MKR ($2.6 billion). (coingecko.com)

ENA Price Prediction

While specific price predictions for ENA are speculative, factors influencing its price include market sentiment, adoption rates, and the overall performance of the DeFi sector. As of now, there are no available forecasts from reliable experts or publications.

FAQ

What is the Purpose of Ethena?

How Can I Participate in Ethena's Ecosystem?

What Sets Ethena Apart from Competitors?

Is Ethena Secure?

What are the Risks Associated with Ethena?

Community Sentiment

31.36K Votes

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Disclaimer and Risk Warning: Some content on this page may be assisted or generated by AI and is for general reference only. For the most accurate and updated information, please refer to the official website of the project. Bitget Wallet values every partnership. If you notice any issues or inaccuracies, feel free to reach out to us at [email protected] — we appreciate your feedback and will make improvements where needed.