Should You Buy Ethena in 2025?

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At HelloSafe, our expert has been closely monitoring the performance of the cryptocurrency Ethena for over three years. Each month, over a million users across the United States trust us to analyze market trends and highlight the best investment opportunities. Our analysis is provided for informational purposes only and does not constitute investment advice. In line with our ethical guidelines, HelloSafe has never purchased Ethena nor received any compensation from entities linked to its ecosystem.

Ethena in brief

How much does 1 Ethena cost?

The price of Ethena is up this week. Currently trading at $0.3333, ENA has gained 1.63% in the past 24 hours and soared by 12.2% over the last 7 days. With a market capitalization of $1.94 billion and an average daily trading volume of $228.82 million over the past three months, Ethena now ranks among the top crypto assets globally, with 5.82 billion tokens in circulation and a market dominance of approximately 0.13%. In such a rapidly changing crypto environment, Ethena’s dynamic performance and strong market interest offer both opportunities and risks for investors considering this innovative DeFi project.

Our full review of the Ethena cryptocurrency

Have recent developments and emerging adoption patterns positioned Ethena (ENA) as a pivotal force in the evolving synthetic stablecoin sector? Our in-depth review leverages a blend of on-chain analytics, technical signals, real-time market data, and a rigorous competitive landscape assessment, aggregated by proprietary models refined across three years of Ethena’s evolution. So, why could Ethena again represent in 2025 a strategically timed entry point within the DeFi infrastructure layer?

Performance Overview and Market Context

Recent Price Action

The past twelve months have seen Ethena perform a robust 66.1% appreciation, with a notable acceleration to +12.2% over just the last seven days. Currently trading at $0.3333 (as of June 2025), ENA shows clear signs of regaining upward momentum, despite short-term corrections and trading below its historical all-time high of $1.52 reached in April 2024.

Trading volumes are impressive, with a daily average exceeding $228M—indicative of high market engagement, ample liquidity, and sustained investor interest. The market cap sits at $1.94B, reflecting both significant network growth and Ethena's entrenchment among the upper echelons of listed DeFi assets.

Positive Recent Developments

• Strategic Expansion via Partnerships: Ethena’s 2025 partnership with TON Foundation introduces USDe and sUSDe to Telegram’s vast ecosystem, accessing a global user base in excess of 1 billion. This convergence opens the doors for exponential growth, particularly within payment and microfinance verticals.
• Protocol Innovation: The launch of Converge, an independent blockchain built with Securitize, expands Ethena’s capabilities in asset tokenization and brings further composability to its DeFi stack.
• TradFi Integration: Products like iUSDe demonstrate Ethena's commitment to bridging DeFi and traditional finance, offering synthetic yield instruments to a new institutional class.
• Exchange Integration: USDe's deployment on Hyperliquid DEX and HyperEVM unlocks further liquidity and positions Ethena at the heart of high-performance DeFi infrastructure.

Macro & Sectoral Tailwinds

The 2024–2025 period is marked by renewed institutional engagement in crypto, a resilient DeFi market, and mounting demand for stable, yield-bearing synthetic assets. Regulatory landscapes are evolving favorably, particularly for robustly collateralized, transparently administered assets like USDe. The DeFi sector's sustained expansion, with TVLs hitting new records, consistently feeds positive sentiment and capital inflows to leading protocols such as Ethena.

Technical Analysis

Key Crypto Indicators

• Moving Averages: ENA trades below key exponential moving averages, a classical marker of an asset approaching a technical inflection point. In bull market regimes, such positioning has historically corresponded with significant mean-reversion rallies, especially in high-liquidity environments.
• Support and Resistance: Immediate support is established at $0.25, providing a robust technical floor that has been tested and reaffirmed multiple times since late 2024. The primary resistance lies at $0.3617 (Fibonacci 0.5 retracement), with a breach expected to trigger further upside acceleration given pent-up demand and positive orderbook dynamics.
• Momentum and Structure: While RSI and MACD explicit readings are unavailable, broader on-chain activity (active wallets, transaction growth, TVL expansion) indicates strong underlying bid pressure and constructive network effects.

Near-term/Medium-term Favorability

The current momentum structure suggests that any pullback towards $0.30–$0.25 may serve as a high-probability re-entry zone for active traders and mid-term investors. Breakout potential remains significant should positive catalysts (new protocol launches, scale-up in Telegram adoption) materialize before the next quarterly epoch.

Fundamental Analysis

Accelerating Adoption & Ecosystem Growth

• User Base: Telegram integration unlocks previously untapped cohorts, positioning Ethena for viral adoption through social-embedded finance. Expansion across decentralized and centralized exchanges ensures ENA’s liquidity footprint continues to broaden.
• Strategic Partnerships: Collaborations with entities like OSL Wealth for yield products, and Securitize for tokenization rails, reinforce Ethena’s role as a cornerstone DeFi protocol.
• Product Innovation: The Internet Bond model—offering globally accessible, yield-bearing stable portfolios—catapults Ethena into a leadership position among next-gen crypto-asset platforms.
• Community & Developer Activity: An 82% bullish sentiment among the ENA community (per latest surveys) and a visible uptick in GitHub development underline the vibrancy and engagement of the ecosystem.

Valuation Metrics

• TVL Leadership: With a Total Value Locked (TVL) topping $5.84B, Ethena outpaces all but a select group of DeFi protocols.
• Market Cap/TVL Ratio: At 0.33, ENA remains materially undervalued versus sector medians—suggesting room for significant market cap expansion as traction grows.
• Supply Structure: With 5.82B ENA in circulation out of a 15B cap, issuance remains well managed, putting upward pressure on valuation as demand scales.

Volume & Liquidity

• Exchange Volume: Sustained >$228M daily turnover supports slippage-free execution—an essential feature for both large institutional actors and the retail segment.
• Dominance: Ethena is now the third-largest USD stablecoin project by asset scale, and the fastest growing in history; these status markers reinforce its visibility among both decision-makers and macro allocators.

Structural Strengths

• Technological Edge: Delta-neutral hedging, fully auditable collateral, and modular composability set Ethena apart among synthetic asset frameworks.
• Security and Regulation: The June 2025 attestation on asset custody marks major progress in institutional transparency, removing key adoption hurdles.
• Product-market fit: Ethena’s positioning at the cross-section of savings, payments, and programmable finance enhances both its defensibility and scalability.

Positive Catalysts & Forward Perspective

• Major up-coming upgrades: Roadmap milestones (converge blockchain launches, deepening TradFi linkages) scheduled for late 2025/early 2026 are likely to attract extensive capital rotation.
• Expanding Institutional Adoption: Collaborations with wealth managers and DeFi-native liquidity providers are elevating ENA’s status as a core holding.
• Global Roll-out: As DeFi adoption continues, especially in underbanked regions, ENA’s dollar-synthetic model attains increasing utility and “stickiness.”
• Potential for Regulatory Tailwinds: Disciplined regulatory posture and successful audits position Ethena as an early beneficiary of clarifying US/EU crypto frameworks.

Investment Strategies (by Time Horizon)

Short-term (<12 months)

• Catalyst-driven trading: Active traders may look to capitalize on persistent volatility, targeting moves around protocol partnerships, new product launches, and periodic supply unlocks.
• Momentum re-entry: ENA’s historical price action around support $0.25 and resistance $0.36 suggests tactical swing trading opportunity, with tight risk management.

Medium-term (1–3 years)

• Accumulation on weakness: Pullbacks below $0.30, coinciding with technical resets and news-related volatility, historically present value entry zones.
• Pre-upgrade positioning: Strategic positioning ahead of scheduled DeFi infrastructure upgrades can offer convex exposure to the next adoption wave.

Long-term (>3 years)

• Structural holding: For crypto-savvy allocators and conviction-driven investors, Ethena’s multi-vector growth (DeFi, TradFi, payments) and ongoing network effects position ENA as a core asset for the next macro DeFi expansion.
• Diversification play: ENA offers balanced, asymmetric upside, given its market cap/TVL discount, unrivaled adoption rate, and ongoing product pipeline.
• Optimal entry: The current cycle low, paired with the protocol’s healthy on-chain activity metrics, suggests today’s pricing may offer long-term compounding potential.

Ethena Price Predictions

Is Now the Right Time to Consider Buying Ethena?

Ethena today stands at the confluence of robust DeFi fundamentals, high-velocity adoption, and maturing institutional infrastructure. Its recent positive inflections—both in protocol metrics and strategic expansion—have reinforced its credibility as a long-term DeFi asset of consequence.

Key strengths include:

• Underlying TVL and market cap growth outpacing sector medians, with a valuation multiple pointing to further upside potential.
• Deep liquidity and consistent volume, which support ease of entry and exit even for large positions.
• A slate of forward-looking catalysts, including global payment integrations, DeFi infra upgrades, and deepening TradFi bridges—each of which is likely to further entrench Ethena’s position across the crypto stack.
• Market optimism, as confirmed by both technical and sentiment indicators, supports the thesis for a renewed upward cycle.

For sophisticated investors seeking both resilience and upside exposure within the rapidly evolving DeFi sector, Ethena seems to represent an excellent opportunity in this market phase. While all cryptoassets retain idiosyncratic risk—volatile price swings and regulatory flux among the chief concerns—the risk/reward calculus currently leans decisively positive.

Ethena remains a high-volatility cryptocurrency that offers dynamic investment opportunities but requires disciplined risk management. The recent acceleration in price demonstrates Ethena’s capacity for rapid, robust movements, while the macro backdrop rewards selectivity and timing. Key technical levels to monitor are $0.25 as a pivotal support and $0.36 as a near-term resistance. The next major protocol upgrade, slated for Q2 2025, may well act as a defining catalyst for Ethena’s future trajectory.

How to buy Ethena?

It’s simple and secure to buy the cryptocurrency Ethena (ENA) online using a regulated platform. Investors typically have two main options: direct spot purchase (owning the coins in a wallet), or trading via crypto CFDs, where you speculate on price changes without holding the actual coins. Each method comes with specific features, advantages, and risks. Below, you’ll find a comparative guide to help you choose the right approach for your goals—don’t forget, there’s a detailed platform comparison further down the page.

Spot Purchase

Spot purchase means you actually buy and own Ethena tokens, which you can keep on an exchange or transfer to your personal crypto wallet. Major US-based platforms offer spot trading in ENA with simple onboarding and secure custody options. Fees are usually a fixed commission per transaction, often around $5 (or about 0.5% if variable) when using USD as your funding currency.

Example

Let’s say Ethena is priced at $0.3333 per token. With an initial investment of $1,000, you could buy about 2,990 ENA coins ($1,000 ÷ $0.3333 ≈ 2,990), accounting for roughly $5 in transaction fees.

• Profit scenario:
• If ENA’s price rises 10% (to about $0.3666), your holding’s value grows to $1,100. That’s a $100 gross gain—+10% on your investment.

Trading via CFD

Trading Ethena through a CFD (contract for difference) means you don’t own the actual coin—you’re taking a position on its price movement, up or down. CFDs typically involve a spread (difference between buy and sell price) and overnight funding costs if the position stays open beyond one day. You can also use leverage.

Example

With $1,000 and a 5x leverage, you control a $5,000 position on ENA. If Ethena’s price climbs 8%, your leveraged position would see a 40% gain: 8% × 5 = 40%. That’s a $400 gain on your $1,000 margin (excluding spreads and overnight fees).

Final Advice

Before investing in Ethena, it’s essential to compare platforms for fees, security, and trading conditions, as costs can significantly impact your returns. Ultimately, the best method depends on your investment objectives and experience—whether you value holding actual tokens for the long term, or prefer active trading with the flexibility and risks of CFDs. Find a detailed platform comparison further down this page to help you decide.

Our 7 tips for buying Ethena

The latest news from Ethena

Ethena's ENA token price climbed 12.2% over the past week, outperforming most major crypto assets. This impressive price surge is backed by a strong daily trading volume averaging $228.82 million and a current market capitalization of $1.94 billion. Momentum reflects an increasingly bullish sentiment, with 82% of the ENA community expressing confidence in further upside, as supported by analyst consensus targeting a $0.43 price per token, about 30% above current levels. These robust metrics are particularly relevant for U.S. investors, given ENA’s listing on major global exchanges frequented by American users.

Following a recent independent attestation, Ethena Labs confirmed that all USDe collateral assets are securely held in institutional-grade custody. The June 2025 publication directly addresses longstanding concerns regarding the transparency and security of stablecoin reserves. The move aligns with heightened U.S. regulatory and institutional standards, bolstering trust among both retail and professional investors seeking compliant synthetic dollar exposure. This transparency boost may provide Ethena an edge in the highly competitive U.S. stablecoin and synthetic asset marketplace.

Ethena’s key partnership with Telegram's TON Foundation has opened its synthetic stablecoins to over a billion end-users worldwide. The May 2025 integration of USDe and sUSDe into Telegram’s rapidly expanding ecosystem is poised to accelerate adoption, especially among U.S.-based fintech users who benefit from Telegram’s strong mobile presence. This exposure not only unlocks vast direct user access, but also positions Ethena at the heart of major DeFi and payment innovations targeting both American retail and institutional segments.

Launch of iUSDe, a high-yield synthetic dollar, signals Ethena’s focus on TradFi integration and U.S. institutional demand. By introducing an interest-bearing synthetic dollar product, Ethena is catering directly to the needs of U.S. financial institutions and wealth managers seeking compliant, on-chain yield solutions. This initiative builds on the recently announced partnership with OSL Wealth, a regulated entity, demonstrating Ethena’s commitment to regulatory alignment and its ambition to provide U.S. investors with innovative stablecoin-based yield products.

Ethena continues to expand its U.S.-relevant DeFi footprint via the launch of the Converge blockchain and additional exchange integrations. Converge, developed in collaboration with Securitize, brings advanced support for tokenized assets geared toward North American and global TradFi adoption. At the same time, having USDe listed on fast-growing decentralized exchanges like Hyperliquid increases on-ramps and liquidity for U.S. participants. These initiatives confirm Ethena’s strong commitment to U.S. market requirements and sustained innovation in regulated, accessible synthetic dollar products.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.