Ethena Price Prediction: How much is ENA crypto?

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What Is the Ethena Price Prediction Today

AT A GLANCE

  • In 2024, Ethena price is expected to reach $2.0255455478896716, according to some experts
  • 2025 promises to be turbulent, with prices ranging from $0.0925 to $1.7888817180391328, with PricePrediction.net predicting a breakthrough leading to a price rise to $1.7888817180391328
  • By 2030, ENA price can hit $2.0255455478896716

Ethena Fundamental Analysis

Project name
Ethena
Stock Symbol
ENA
Current Price
0.8940832257292747
Current Supply
15000000000

Ethena is a revolutionary decentralized protocol with an innovative approach centered around the USDe stablecoin. Since its introduction to the public in February, Ethena Labs has captured the attention of crypto traders and enthusiasts alike, offering a compelling alternative to traditional asset-backed stablecoins.

At the core of Ethena's ecosystem is the USDe stablecoin, which stands out for its impressive yield potential. Users who stake USDe for a minimum of seven days are currently enjoying an annualized yield of approximately 37%, making it an attractive option for investors seeking high returns.

Unlike conventional stablecoins like tether (USDT) and USDC, which are backed by physical assets or government debt, USDe operates as a synthetic stablecoin. Its value of $1 is maintained through a sophisticated financial technique known as the cash-and-carry trade, ensuring stability and transparency in the protocol.

Users can mint USDe tokens by depositing stablecoins such as USDT, DAI, and USDC into the Ethena protocol. These minted USDe tokens, with a market cap of $21.3 billion, can then be staked to earn yield, providing users with a crypto-native solution for generating passive income.

Ethena's innovative approach extends beyond stablecoin functionality. The protocol introduces the concept of the 'Internet Bond,' a groundbreaking financial instrument that combines the yield from staked Ethereum with funding and basis spread from perpetual and futures markets. This on-chain 'bond' serves as a dollar-denominated savings instrument, offering users in permitted jurisdictions a censorship-resistant and globally accessible asset.

Ethena's approach addresses the shortcomings of existing stablecoins, such as centralized custody risk and reliance on traditional banking systems. By combining the stability of traditional stablecoins with the censorship resistance of native assets, Ethena offers a compelling alternative for users seeking a reliable store of value and transactional currency.

With its delta-hedging mechanism, Ethena ensures that USDe remains fully backed and transparently on-chain, mitigating directional risk and maintaining stability in volatile market conditions. The protocol also remains agnostic to liquid staking providers and off-exchange settlement solutions, providing users with flexibility and resilience in the ever-evolving DeFi landscape.

Ethena's protocol generates sustainable yield from two primary sources: staking certain assets to receive consensus and execution layer rewards, and funding and basis spread from delta hedging derivatives positions. This dual-yield mechanism ensures the protocol's viability and sustainability over the long term, further enhancing the appeal of USDe as a stable and lucrative investment option.

In terms of accessibility, Ethena is designed to be user-friendly and inclusive. Users can acquire USDe in permissionless external liquidity pools, providing easy access to the protocol's ecosystem. Additionally, approved institutional parties from permitted jurisdictions can mint and redeem USDe on-demand directly through Ethena contracts following whitelisting, eliminating the need for traditional banking infrastructure and facilitating seamless transactions within the crypto ecosystem.

Ethena's commitment to decentralization is further exemplified by its approach to custody and settlement. Trustless collateral is held and stored within the crypto ecosystem, minimizing reliance on centralized entities and enhancing security and resilience. Off-exchange settlement solutions ensure that backing assets remain on-chain and off-exchange servers, mitigating counterparty risk and providing users with peace of mind.

While Ethena's innovative approach and promising features have garnered attention and acclaim within the crypto community, it is not immune to criticism and potential risks. Here are some critiques and concerns that have been raised regarding the Ethena protocol:

  • High Yield, High Risk: The impressive annualized yield of approximately 37% for staking USDe may raise concerns about sustainability and underlying risks. High yield often comes with high risk, and investors may question the long-term viability of such returns, especially considering the volatility of the crypto market.
  • Comparison to Terra Ecosystem: Some critics have drawn parallels between Ethena and the Terra ecosystem, which faced challenges and controversy in 2021. The comparison may raise questions about the protocol's stability and ability to withstand market pressures, particularly given the similarities in approach and features.
  • Reliance on Delta Hedging: While Ethena's reliance on delta hedging derivatives positions is touted as a mechanism for stability, critics may argue that it introduces complexity and potential vulnerabilities. Delta hedging strategies are not immune to market fluctuations and may fail to provide adequate protection in extreme scenarios.
  • Lack of Transparency: Despite claims of transparency and on-chain backing, skeptics may question the completeness and accuracy of the information provided by Ethena regarding its collateralization and risk management practices. Without clear and verifiable data, users may be hesitant to fully trust the protocol.
  • Market Volatility: Ethena's stability and performance are closely tied to the broader crypto market, which is known for its volatility and unpredictability. Sudden market downturns or fluctuations could impact the protocol's ability to maintain stablecoin pegs and generate sustainable yield, leading to potential losses for users.
  • Liquidity Risks: While Ethena aims to provide liquidity through permissionless external liquidity pools, critics may raise concerns about the depth and stability of these pools, particularly during periods of high volatility or market stress. Insufficient liquidity could hinder users' ability to trade or redeem USDe tokens effectively.

The ENA token serves as the governance backbone of Ethena. Recently, Ethena unveiled plans for an airdrop comprising 750 million ENA tokens, constituting 5% of the total supply, as a gesture of appreciation for participants in its shard campaign. This six-week campaign encouraged users to actively interact with the protocol to earn "shards," a metric of participation crucial for determining the scale of the ENA token airdrop.

This strategic airdrop is designed to foster sustained engagement within Ethena's vibrant ecosystem. While holders of smaller ENA token quantities will promptly receive their share of the airdrop without any vesting period, the 2000 largest ENA wallet holders will experience a different distribution approach. Half of their allocated tokens will be disbursed during the initial airdrop, with the remaining portion subject to a six-month vesting period. Notably, this vesting stipulation hinges on the condition that these prominent holders uphold at least the same quantity of USDe—the protocol's synthetic dollar—as they possessed at the time of the airdrop snapshot. This requirement underscores Ethena's commitment to rewarding persistent engagement and investment in its ecosystem, fostering a culture of long-term commitment among its key stakeholders.

The ENA token not only functions as a governance tool, empowering holders to engage in the decision-making mechanisms of the Ethena protocol but also signifies a pivotal moment in the protocol's evolution. As USDe's market capitalization undergoes remarkable expansion and the protocol attains a valuation surpassing $1.4 billion, the introduction of ENA and the execution of this airdrop stand as monumental steps forward for Ethena. These initiatives are poised to catalyze Ethena's prominence within the DeFi landscape, fostering broader acceptance and participation in its synthetic dollar and decentralized financial instruments.

The ENA token has a total supply of 15,000,000,000 ENA, and as of April 15, 2024, the circulating supply of the ENA token is 1,425,000,000.

Ethena Live Price Chart

At the time of launch the price of the ENA token was at $0.56, but later the same day the value of the ENA token climbed to $0.76 as the project was attracting a lot of attention from the investors. The token price then continued to grow, and the next day already swapped ENA traders paid $1.2.

After reaching this milestone and more than doubling the price in no time the ENA price chart was corrected and the value of the Ethena native token went down. On April 4 to buy ENA traders already paid only $1.13, the price tried to remain at that level but then collapsed the same day, going down to $0.97 and bouncing between $0.93 and $1 before it started to go down. On April 5 to swap ENA traders paid already $0.90.

When the ENA token price reached that point the situation changed and the price chart went up again. It kept growing for the next 3 days, and on April 7 to swap ENA traders paid $1.24. It was followed by the extended period of the market correction that took the ENA token price to $1.11 by the middle of the next day.

Again the ENA price chart went up bullying in the following 2 days, reaching $1.4 by April 11. The price kept bouncing between $1.5 and $1.36 till the afternoon of April 12 when the situation changed and the ENA price chart went down again. On April 14 to buy ENA traders paid $0.98. In the following 3 days, the value of the ENA token went up again, reaching its max on April 15 when to buy ENA traders paid $1.16.

According to the price chart signals and the experts' opinions, the ENA price chart still carries the potential for upcoming growth. As the whole crypto market still looks bullish, investors might be ready for the upcoming ENA token p[rice growth.

Ethena Technical Analysis

Despite the fact that 100% accurate technical analysis for Ethena cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated ENA buy-and-sell rating for selected timeframe. The summary for ENA/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.

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Ethena Price Prediction

Below we have collected the most reliable price projections for Ethena (ENA) from popular forecast platforms.

Ethena Price Predictions Summary

Year
Average Price
Avg. Price / Pot. ROI
Potential ROI
2024
$1.13959522
9%
9%
2025
$0.82439631
-20%
-20%
2026
$0.22826347
-75%
-75%
2027
$0.64875758
-33%
-33%
2030
$0.24047895
-77%
-77%

Ethena Price Prediction for 2024

As for Ethena price predictions for 2024, there are divergent opinions. PricePrediction.net expects an upturn towards $1.001373, and TradingBeast echoes with ~$1.761344 by the year’s end. Other experts, for example, from WalletInvestor, are more pessimistic about Ethena’s future price, citing numbers downwards of $0.154 in December.
Potential ROI: 9% Buy

Ethena Price Prediction for 2025

In their Ethena price predictions for 2025, TradingBeast forecasts the coin’s price to go down to $0.5454 by December. Forecasting Ethena future, WalletInvestor expects further decrease of its price, too, saying the Ethena price will reach ~$0.139 by that time. On the contrary, PricePrediction.net keeps predicting Ethena price growth, quoting prices around ~$1.466296 in 2025.
Potential ROI: -20% Sell

Ethena Price Prediction for 2026

The experts are unanimous in their Ethena price forecasts for 2026 — everybody expects Ethena’s price to drop down by the end of that year. PricePrediction.net predicts the price to fall, reaching $0.3666. According to WalletInvestor’s research, Ethena’s price can drop down to $0.114. TradingBeast’s forecast is also not so positive: its analysts hold the view that by 2026 Ethena’s price will be about $0.1788.
Potential ROI: -75% Sell

Ethena Price Prediction for 2027

TradingBeast has only pessimism in store for the 2027 Ethena price prediction, valuing Ethena at $0.09835 by the end of 2027. WalletInvestor agrees with a negative forecast and predicts, in turn, $0.0465 for the same period. On the other hand, PricePrediction.net’s team is more optimistic — their Ethena price prediction for December of this year is just $1.654054.
Potential ROI: -33% Sell

Ethena Price Prediction for 2030

Most experts are expecting a bleak future for Ethena: long-term Ethena price predictions promise significant decline by 2030. PricePrediction.net predicts the price to reach $0.5275, while TradingBeast goes down for $0.05364. WalletInvestor also puts not so big hopes on Ethena in the long term: its Ethena prediction for 2030 is $0.03767.
Potential ROI: -77% Sell

Author

June Katz
June Katz is a writer who is really interested in finance, trading, blockchain, and tech. As a SwapSpace author, she enjoys making content about crypto and other related topics.

Summary

As it can be clear from the analysis cited above, Ethena (ENA) projections are rather contradictory. There is no universal consensus either about positive or negative future ENA price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Ethena projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
All you need for your research in one channel!
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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