Ethena (ENA)
Emissora do USDe — o 'dólar sintético' que rende do basis trade (short perp contra spot).
FM on-chain score
-14neutral
proprietary read · up to 24h delayedlive score in the terminal →
- smart money 65% vendida
A synthesis of derivatives, on-chain flow, smart money and social into one number from −100 to +100. Not financial advice — see the methodology.
Competes with
revenue 30d · public data up to 24h delayed
Uniswap
$14.58MP/F 88.2×
Sky
$13.45MP/F 6.9×
Ethena
$9,268.69P/F 361.1×
Market
Daily snapshot · data up to 24h delayedPrice
$0.139947
24h
-0.83%
Market cap
$1.41B
24h volume
$291.47M
Derivatives
data up to 24h delayedFunding APR · 20 exch.
+7.09%
Fundamentals
data up to 24h delayedRevenue 30d
$9,192.64
Revenue 12m
$4.06M
TVL
$5.05B
Mcap / annual revenue
348.0×
Full written thesis available in Portuguese for now — all data above is global.
Fundamental analysis
on the Financial Move blog · in PortugueseEthena (ENA): Vale a Pena? Análise Completa
O Ethena (ENA) é um protocolo DeFi construído no Ethereum que revolucionou o mercado de stablecoins ao criar o USDe — um dólar sintético que mantém paridade com o USD através de estratégias de delta-hedging, sem depender de reservas bancárias tradicionais. Em menos de 500 dias desde o lançamento, o USDe alcançou US$…
Tasso Lagoupdated May 01, 2026Read the full analysis →