Ethena Price Prediction 2024 – 2040

Ethena is one of the newest projects making waves in the DeFi (decentralized finance) sector. Launched in 2024, the project has experienced exponential growth, thanks to its synthetic dollar protocol, Ethena Staked USD (SUSDe) and other innovative features. Expectedly, its native token, ENA has caught the attention of crypto enthusiasts, hence the need for Ethena price prediction guide.

This post will cover the key things you need to know about Ethena. We’ll begin with ENA’s brief price history and move from short to medium and ten, long-term Ethena price forecasts. We’ll also discuss what Ethena is, what it is used for, as well as the factors that can influence ENA future prices. In the end, you should have enough information to decide whether ENA is a good investment.

Ethena Price Prediction Summary

• End of 2024: As a new crypto launched during a bull season, ENA has demonstrated its growth potential. However, we feel that the best is yet to come for the Ethereum-based token. As a DeFi project, Ethena will attract people in the months ahead. And as the crypto market continues to improve, ENA price could reach a maximum level of $0.758 per token before year-end.  
• End of 2025: By 2025, it is expected that the current bull market will reach its peak. At that point, most of the new tokens will reach interesting all-time high points. Based on our estimation, Ethena will get many new users and the Ethena token may gain significantly to reach a high price target of $1.862 per token.    
• End of 2027: 2027 is riddled with uncertainties. While a bearish market trend is expected to dominate 2026 and early 2027, we anticipate that the market will improve towards the end of 2027. Also, we estimate that ENA could become one of the best DeFi tokens this year. Our Ethena price forecast for 2027, therefore, is a maximum price of $5.227 per token.  
• End of 2030: Ethena is still in its infancy stage and ENA is still an undervalued asset. By 2030, the project must have reached significant milestones and the token must have gotten millions of new users. Depending on how Ethena develops and the condition of the crypto market, ENA could be worth as much as $12.65 per token before the end of 2030.

Ethena (ENA) Price History

As mentioned in the introductory part of this Ethena price prediction guide, the project was launched in 2024. Ethena Labs was founded by Guy Young and the Ethena protocol is backed by notable industry players and investors, including Dragonfly, Binance Labs, Arthur Hayes, Bybit, AAVE, OKX Ventures, Synthetix and many others. It raised around $25.5 million before launching its token.

Ethena’s native token, ENA, debuted on exchanges on April 2, 2024. Coinmarketcap data shows that the initial price was around $0.6522. Within the first 24 hours, the price rose to around $0.7872.

As Ethena rolled out its attractive products and services, ENA price surged within its first week of trading. By April 11, 2024, the token reached its all-time high (ATH) price of $1.52. As the initial excitement waned, ENA price dropped considerably. By April 19, the price was already down to $0.910699.

Ethena price rose to another high point of $1.08 on April 21, 2024, before dropping to $0.8147 on May 1. The price dropped further to around $0.6729 on May 17. Another major price surge saw the Ethena token reach a high price of $1.02 on June 4 before it began declining again.

Ethena price continues to experience fluctuation. After trading for $0.765762 on June 17, ENA price experienced a sharp drop. According to Coingecko data, ENA hit an all-time low price of $0.3494 on July 5, 2024.

Ethena Latest Price Actions

In the past few weeks, Ethan has recovered slightly from its all-time low point. At the time of writing, its price of $0.4372 was a 25.87% increase from the all-time low value. It previously reached $0.502558 on July 21.

ENA 24-hours’ gain, at the time of writing, was +1.29%. However, it is down by -4.55% in the past 7 days. With a market cap of over $750 million, it was ranked as the #90 largest crypto by market capitalization. Despite a 35% drop, its 24-hour trading volume of over $71 million makes it the 84th-ranked crypto by daily trading volume.

Key Points in Ethena (ENA) price history

• Ethena was launched in April 2024 as a synthetic dollar protocol on Ethereum
• Ethena is backed by several notable industry players and investors, including Dragonfly and Binance Labs
• ENA’s initial price, according to Coinmarketcap data, was $0.6522
• Less than two weeks after its launch, Ethena price soared to an all-time high of $1.52 on April 11, 2024
• As the initial excitement waned, Ethena price declined sharply after its dramatic rise
• Ethena (ENA) recorded its all-time low price of $0.3494 on July 5, 2024
• ENA price has been recovering slightly and continues to fluctuate
• At the time of writing, ENA ranked as the 90th largest crypto by market capitalization, as well as the 84th largest by daily trading volume

Ethena Price Prediction 2024

Ethena gave us a hint of its growth potential two weeks after its official lunch. Though the token price has dipped after the initial excitement and consequent rally, chances are high that ENA price will still rise meaningfully in 2024.

Considering what it offers, Ethena is one of the most exciting projects in the DeFi niche. This makes the Ethena token (ENA) one of the best new coins to invest in. As a new digital asset, ENA still has much room for price growth, and the current bull market could be very helpful.

While being optimistic about ENA growth potential, we need to consider the condition of the wider crypto market and Ethena’s position in the market. Despite its strong fundamentals, Ethena will find it difficult to achieve the popularity of new memecoins. Therefore, its growth may be hampered a bit in the months ahead.

As the top trending cryptos continue to attract new investors and short-term traders, Ethena will get the attention of experienced and knowledgeable DeFi players. Depending on how well and how long it sustains its attractive APY, new investments will continue to come in, and that could boost price gains.

As for how far ENA price could go in 2024, we anticipate a slight steady gain as the wider market remains bullish. Before the end of the year, we expect ENA to reach a maximum price of around $0.758 per token.

Ethena Price Prediction 2025

Ethena price performance may improve significantly in 2025. Ideally, the year after Bitcoin halving is always eventful as the majority of top cryptos reach new all-time high price levels. This scenario will likely play out again, and ENA could benefit immensely from the bullish trend.

We also anticipate that 2025 will be the year Ethena’s position and reputation within the DeFi niche will improve tremendously. Its synthetic dollar (USDe) has been described as the inaugural censorship-resistant, scalable and stable crypto-native dollar. This was achieved through delta-hedging of staked Ethereum collateral.

Due to its uniqueness, Ethena’s synthetic dollar is freely usable across DeFi platforms. The implication is that Ethena will not be in direct competition with the multitude of DeFi platforms running today. It also means that Ethena will be used by many who are already invested in the decentralized finance sector.

Judging by what it offers and the possibilities ahead, Ethena has a good chance of becoming one of the top DeFi tokens to buy. It has introduced the concept of Internet Bond, which is basically a dollar-denominated crypto-saving instrument with impressive annual yields. Many DeFi enthusiasts will embrace Ethena as soon as they understand what it can offer.

As per our actual Ethena price prediction for 2025, we estimate that the new token will record a new all-time high value by reaching a high price target of around $1.862 per token.

ENA Price Forecast 2027

Ethena (ENA) price in 2027 will depend on several factors. The state of the wider crypto market may be the biggest determining factor. This is because a bear market is expected sometime between 2026 and 2027. This bearish trend could be particularly impactful in the DeFi niche.

We also know that Ethena’s performance in the years ahead will depend on its ability to attract a strong user base in the crowded DeFi niche. Thankfully, it has a product that can be used across DeFi platforms. Its ability to keep its products and offerings sustainable will prove vital. Going by what we’ve seen, ENA could turn out to be one of the most sustainable cryptos to buy.

Ethena could also benefit immensely from Authur Hayes’ bullish long-term prediction. The American Entrepreneur, who invested in the project in its early days, boldly predicted that ENA would reach $10. This will continue to attract people to the project and could be a major price boost.

At this point, we need to state that Ethena will still face serious competition in the future. While it has been able to distinguish itself from many others with its innovative products and services, it will still need to execute its roadmap effectively to reach the forecasted high targets.

So, based on the considerations above, our Ethena price prediction for 2027 is a maximum price in the region of $5.227 per token.

Ethena Price Prediction 2030

We can never overemphasize the role of a strong community in the success of a crypto project. Ethena’s ability to attract and maintain a strong, vibrant community will determine its long-term price prospects. We expect that the Ethena ecosystem will be significantly stronger by 2030.

Right from its earliest days, Ethena got the attention and backing of several top players in the crypto niche. Its user base has also grown impressively in a matter of months. It is now looking like one of the next cryptos to explode, and we anticipate that it could explode long before 2030.

Ethena’s ability to navigate the evolving DeFi sector will also prove critical to its price growth. The possibilities of legal and regulatory changes are high. Projects like Ethena will need to be strategic to remain in the good books of regulatory bodies. If it plays right, ENA will be relevant and highly valuable, going into 2030.

Ethena will also benefit from new partnerships in the future. Already, it has secured several strategic partnerships, including the one with AAVE. Such partnerships boost investors’ confidence and help to keep the community strong, positive and engaged.

Depending on how the wider crypto market turns out in 2030, Ethena (ENA) could post a new all-time high price. So, our long-term ENA price forecast for 2030 is a maximum price of $12.65 before the year runs out.

Ethena Price Prediction 2040

As a new token, ENA can be categorized among the most undervalued cryptocurrencies. Therefore, now could be an excellent opportunity for those who can buy and HODLe till 2040. Depending on the numerous changes that may happen before this year, ENA could yield hefty profits for holders.

We’ve seen the sort of explosive price growth Bitcoin and top altcoins have been recording in recent years. If we are to imagine what could happen in 16 years, there is justification for a very bullish Ethena price forecast. But then, Ethena, as a project, must succeed and keep its users happy and engaged.

We also need to consider Ethena’s tokenomics when forecasting how its price could change in the long run. The total supply of the token is capped at 15 billion ENA. Currently, a little over 1.7 billion ENA tokens are in circulation. This implies that a lot of tokens will go into circulation in the future.

While the Ethena team and its growing governance community can find viable solutions, it appears that supply pressure could hamper ENA price growth in the long term. However, increased adoption and new use cases can help ameliorate the effect of this potential challenge.

Considering all the points above, it is more reasonable to stick to a bullish long-term Ethena price prediction. Based on our estimation, ENA could rise to a maximum price of $28.37 per token before the end of 2040.

Potential Highs and Lows of Ethena Price

Ethena has shown signs of extreme volatility in the crypto market, which presents both risks and opportunities. It is proper, therefore, that we provide a realistic price range for the years we’ve covered. Below are the potential high and low points ENA price could reach for the years under consideration:  

Expert Opinions – What Other Analysts Predict for ETHENA Price

In its few months of existence, Ethena (ENA) has caught the attention of many crypto enthusiasts and analysts. It is not surprising, therefore, that many have already provided ENA price forecasts for their audience. Below, we’ll sample the opinions of select analysts providing Ethen price prediction(s) for other media outlets:

“The price of Ethena is expected to reach a maximum price of $0.785073 in 2024.”

bitnation.co

“There is a possibility that Ethena can break through the $1.19 barrier and hold the market by the end of 2025.”

digitalcoinprice.com

“By 2027, Ethena’s market cap could have decreased and the crypto market could be in a bear phase. In this instance, the value of ENA could drop to $6.28.”

coinedition.com

“Ethena’s price for 2030 might fluctuate between $19.24 to $35.22, with an average price of $27.23.”

coinpedia.org

“By 2040, our forecast indicates that ENA can reach a maximum value of $14.71.”

bitscreener.com

What is Ethena and What is it Used For?

Ethena is mostly described as a synthetic dollar protocol built on Ethereum. In the general sense, it is an Ethereum-based DeFi protocol with a censorship resistance model featuring a synthetic dollar, named USDe, which maintains stability through collateralized ETH.

Ethena was created by Ethena Labs with the primary objective of providing a crypto-native alternative for monetary transactions. As hinted earlier in this ENA price prediction guide, its synthetic dollar (USDe) was created through a meticulous delta-hedging of collateralized ETH. Also, it is transparently backed on-chain, enabling free usability across DeFi platforms.

Ethena is used by DeFi participants and other crypto enthusiasts for various related purposes. For a start, USDe is a globally-acceptable dollar-denominated instrument that can be used across DeFi platforms. That means it is a form of dollar-backed digital currency that works across decentralized finance platforms. It is completely independent of the traditional banking infrastructure.

With Ethena, DeFi users have access to a unique crypto-native instrument that is different from the regular stablecoins. Ethena has also introduced a new concept called “Internet Bond”. This is basically a crypto-native savings instrument derived from staked Ethereum. The protocol makes it easy for users to stake ETH and earn attractive yields (currently 11% APY).

The Ethena Token (ENA)

Like other DeFi protocols, Ethena has a native token called ENA. This token serves as both a utility and governance token. As a utility token, it facilitates operations, interactions and transactions within the Ethena ecosystem. It may be used to pay for services as well as to access certain features within the ecosystem.

As a governance token, ENA enables users to participate in Ethena’s decentralized governance. That means it gives holders the right to vote on proposals about Ethena’s development, updates and direction. It enables holders to have a say in decisions concerning the protocol’s future.

The Ethena token, ENA, can also be used for staking. In addition to helping to secure the network and improve its efficiency, ENA staking presents big opportunities for holders to earn passive income. Of course, ENA is also used to incentivize Ethena users. It can be given out as a reward for contributing to the protocol in any recognizable manner.

Lastly, ENA is an investment instrument. Like other cryptocurrencies, it is a volatile asset that can yield profits or losses, depending on price changes. This Ethena price prediction guide is mostly based on the fact that crypto enthusiasts will buy the token for profit-making purposes.

What Influences the Price of Ethena Tokens (ENA)?

To understand how Ethena price could change in the future, you need to be aware of the factors that can cause price swings. Below, we’ll briefly discuss some of the major factors that can influence the price of Ethena (ENA) in the future: 

Demand and Supply

A rise in demand, ideally, results in a price gain. At the same time, increased supply that is not accompanied by increased demand often results in price decline. We’ve already mentioned in this ENA price forecast that ENA supply will increase in the future, if this is not counteracted by increased demand, then it will drive down price.

Increasing Adoption

Based on what we know at the moment, the adoption of ENA token is set to increase significantly in the near future. As more people learn of the many benefits Ethena offers, the ENA token will attract new holders. This, of course, is expected to have a positive impact on the price of the token.

Ethena Ecosystem Updates and Developments

How Ethena develops in the future will have a huge impact on the price of its native token, ENA. Big upgrades and updates can get the community excited and more willing to invest. Such positive developments can also attract new users, boosting demand and price gain.

Condition of the Wider Crypto Market

The condition of the wider crypto market will also influence ENA prices in the future. A generally bullish market often results in widespread price gains, whereas, a bearish market trend will cause the price of ENA and other assets to drop over time.

Others

Several other factors can also influence ENA prices in the future. Legal and regulatory issues may cause discomfort that can degenerate into a massive sell-off and price drop. On the other hand, positive regulatory updates can encourage ENA investing, boosting price in the process. Whale activities can also cause ENA price changes. Investors’ sentiment, community engagement, social media hype, as well as celebrity endorsement, are some of the other factors that can trigger ENA price changes.

Is Ethena a Buy?

To understand whether ENA is a good buy, we need to consider Ethena’s fundamentals and the growth potential of its native token. In this Ethena price prediction guide, we’ve discussed the project properly, touching on its censorship-resistance model and yield capacity.

It is pertinent to reiterate that Ethena is a revolutionary project that offers a lot to DeFi participants. Its synthetic dollar is freely usable across DeFi platforms, offering a crypto-native alternative to monetary transactions. Ethena’s 11% APY on staked Ethereum is another attractive future. The project is definitely viable, and its ability to compete in the crowded DeFi space will determine its success.

As per our Ethana price prediction and forecast(s), we anticipate that ENA price will rise in the years to come. While the growth trajectory may not be as spectacular as that of trending memecoins, it could still be enough to reward ENA holders handsomely.

Ethena Price Prediction – Conclusion

So far, we’ve covered the key things a potential investor must understand before buying Ethena token (ENA). We’ve described the project as a synthetic dollar protocol that offers good yield, among other impressive features. Based on our painstaking analysis, we submitted bullish ENA price forecasts for the years ahead.

Though the crypto space is full of uncertainties, there is a good chance that Ethena will turn out to be one of the most successful DeFi projects of 2024. In the future, ENA token price may also rise considerably. However, it is important that potential buyers conduct their own research before investing in a volatile asset like ENA. It is also crucial to always buy cryptos and other investment instruments from reliable platforms.

Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

References

1. https://coinmarketcap.com/currencies/ethena/
2. https://www.coingecko.com/en/coins/ethena
3. https://token.unlocks.app/ethena
4. https://www.gemini.com/cryptopedia/volatility-index-crypto-market-price
5. https://www.investopedia.com/terms/d/deltahedging.asp
6. https://www.forbes.com/sites/digital-assets/article/does-decentralized-governance-work/
7. https://seedblink.com/en/glossary/investment-instruments 

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Author: Michael Kalu

Michael Kalu is an experienced Finance and Cryptocurrency writer/analyst with penchant for excellence. He’s skilled in market analysis, market trends, and investment strategies. Since 2017, Michael has been immersed in everything crypto, working with diverse projects and contributing to leading online finance/crypto publications, including Coincodex, Coinchechup, and Trading-Education. Before delving into crypto and journalism, he earned a Bachelor’s degree in Agric. Economics and studied accounting at professional level. Currently, he’s pursuing an MBA with focus on Sustainability.

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