Ethena

Ethena ENA

Status: ListedLending, RWA, & DeFi Spot
Token GradeBBB
Overall Score: 33.8 /100Rank: 59 of 168
Disclosures BBB4.80 /10
Performance AA7.05 /10

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Disclosures Overview

Core Contributors

Legal & Financial

Tokenomics

Service Providers

Performance Overview: Market Quality

Total Volume (as % of Market Cap)

Market Cap (USD)

Trade Volume (USD)

Trade Volume (prev. 30D avg.)$1,373,511,003
Market Capitalization (prev. 30D avg.)$1,518,646,232
Trade Volume / Market Capitalization30.05%
GradeAAAScore10.00Percentile100.00%

Depth +/- 2% (as a % of Market Capitalization)

Depth +/- 2% (USD) | Market Cap (USD)

Depth (+/- 2%)Market Cap
Depth +/- 2% (prev. 30D avg.)$132,231,622
Market Capitalization (prev. 30D avg.)$1,518,646,232
Depth / Market Capitalization9.97%
GradeAAAScore10.00Percentile100.00%

Bid / Ask Spread (Volume weighted spreads)

Bid / Ask Spread (%)

BinanceMexcBybit (Futures)
Exchange with Tightest SpreadsMexc
Volume Weighted Bid / Ask Spread (prev. 30 days)0.1680%
GradeAAScore7.00Percentile83.83%

Price Performance

30D Change: 60.88%

Price (USD)

Count Green Candles14
Count Red Candles16
Candle "Win Rate"46.67%
GradeAScore5.00Percentile33.33%

Open Interest (as a % of Market Capitalization)

Top Venues by OI (prev. 30D avg.)

Binance$93,627,446
Bybit (Futures)$68,921,285
Bitvenus$58,436,951
Total (All Exchanges)$527,654,472
Open Interest / Market Capitalization22.76%
GradeAAAScore10.00Percentile100.00%

Funding Rate

Funding Rate (%)

BinanceBybit (Futures)Bitvenus
Open Interest-Weighted Funding Rate0.0046%
GradeAAScore7.00Percentile79.87%

Performance Overview: Liquidity Providers

Data not disclosed

Market Maker Volume (as a % of total volume)

N/A
GradeCCC
Score0.00
Percentile0.00%

Market Maker Depth (as a % of total depth)

N/A
GradeCCC
Score0.00
Percentile0.00%

Market Maker Uptime / KPI Adherence

N/A
GradeCCC
Score0.00
Percentile0.00%

Performance Overview: Liquidity Footprint

Top-Tier Exchange Coverage

4 out of 4 (100%)BinanceOKXCoinbaseUpbit
GradeAAAScore10.00Percentile100.00%

Total Volume (CEX vs DEX)

Volume (USD)

CEX Volume (avg)$524,238,147
DEX Volume (avg)$160,462
CEX Volume share99.92%
GradeAScore5.00Percentile68.26%

Total +/- 2% Depth (CEX vs DEX)

+/- 2% Depth (USD)

CEX Depth (avg)$80,899,102
DEX Depth (avg)$90,223
CEX Depth share99.91%
GradeAScore5.00Percentile65.27%

Total Volume (Spot vs Perps)

Volume (USD)

Spot Volume (avg)$524,398,609
Perps Volume (avg)$1,067,057,510
Spot Volume share42.93%
GradeAAAScore10.00Percentile100.00%

Total +/- 2% Depth (Spot vs Perps)

+/- 2% Depth (USD)

Spot Depth (avg)$80,989,325
Perps Depth (avg)$48,140,273
Spot Depth share57.32%
GradeAAAScore10.00Percentile100.00%

Performance Overview: Tokenomics

Disclosed Token Vesting vs Actual Vesting

Disclosed TGE DateN/A
Disclosed DurationN/A
Disclosed Total GroupsN/A
Disclosed Max. SupplyN/A

Commentary versus actual token vesting

N/A

GradeCCCScore0.00Percentile100.00%

Market Cap vs. FDV (Ratio)

0.67:1
GradeAAA
Score8.00
Percentile59.28%

Fully Diluted Valuation (FDV) (USD)

$2,124,140,689
GradeAAA
Score10.00
Percentile100.00%

Annualized Rate of Inflation

25.26%
GradeB
Score3.00
Percentile69.05%

Data as of 2026-09-14 · Scoring config v4 · Rated 168 of 169 projects

UTR scores evaluate disclosure quality and token market structure. The score is informational and should not be interpreted as an assessment of expected returns or as an investment recommendation.