ENA/USDT market overview
Ethena price today
The price of Ethena is 0.1774 USDT as of Nov 2, 2026, 13:11 UTC. ENA is down 5.23% in the last 24 hours, trading between 0.1765 USDT and 0.1874 USDT, with 202.35K USDT in 24-hour trading volume. Over the past 7 days, Ethena has fallen 14.18% against USDT.
Today
- Last price
- 0.1774 USDT
- 24h high
- 0.1874 USDT
- 24h low
- 0.1765 USDT
- 24h volume (ENA)
- 1.11M ENA
- 24h volume (USDT)
- 202.35K USDT
Performance
- 24h change
- -5.23%
- 7-day change
- -14.18%
- 30-day change
- -25.74%
- 90-day change
- --
- 1-year change
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How to buy and sell ENA with USDT on OTCN
Easy trade converts one asset into another at the rate shown in the trade card above. To buy Ethena, select Buy, enter the amount of USDT you want to spend and check how much ENA you will receive. To sell, switch to Sell and enter the amount of ENA you want to convert back to USDT.
The rate moves with the market, so always review the amount you will receive before you confirm. If you want to set your own price with limit orders, use the ENA/USDT spot market instead. Fees for every product are listed on the Fees page.
What is Ethena (ENA)?
Ethena is a synthetic dollar protocol on Ethereum, and ENA is the token its holders use to govern it. Ethena Labs, founded by Guy Young, built the protocol. USDe, its dollar-denominated token, had a limited release before opening to the public in February 2024. ENA arrived in April 2024 with an airdrop that sent 750 million tokens, a 5% share of the supply, to Shard Campaign participants.
USDe is designed to stay close to one dollar: it is backed by crypto assets the protocol holds, hedged with matching short futures positions. USDe is not backed by fiat reserves and carries different risks from fiat-backed stablecoins. ENA gives holders a vote on questions such as what makes up USDe's backing, how future protocol revenue is used and who serves on the Risk Committee. Holders who stake ENA receive sENA. The launch supply of 15 billion ENA was divided among core contributors, investors, the Ethena Foundation and ecosystem programs, with portions unlocking on vesting schedules.
What is Tether (USDT)?
Tether (USDT) is a stablecoin designed to hold a value of 1 US dollar. It launched in 2014 and is issued on several blockchains, including Ethereum and Tron. Because its price is meant to stay close to 1 USD, traders use USDT to price other crypto assets and to keep a dollar-denominated balance without leaving the crypto market.
Why trade Ethena against USDT?
Ethena's ENA and USDe tokens serve different purposes. USDe aims to hold a value near one dollar, while ENA, the protocol's governance token, has a market price that moves freely. Swapping ENA for USDT turns a governance token position into a stablecoin balance that aims to track the US dollar, and the reverse swap converts that balance back into ENA. Quoting ENA in USDT shows its value in a dollar-tracking stablecoin, at any hour of the week.
Cryptocurrency prices are highly volatile and you can lose some or all of the money you convert. The information on this page is general market information, not investment advice, and past price movements are not a reliable indicator of future results. Read our
Risk Disclosure before you trade.
