
Ethena
Founded Year
2023Stage
Series A - IV | AliveTotal Raised
$146MRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-34 points in the past 30 days
About Ethena
Ethena is a synthetic dollar protocol that operates within the cryptocurrency and blockchain industry, offering an alternative to traditional currency systems. The company provides a digital dollar, USDe, which is supported by delta-hedging derivatives to maintain peg stability and is integrated across centralized and decentralized finance platforms. Ethena also offers the 'Internet Bond', a dollar-denominated rewards instrument that leverages revenue from staked assets and derivatives markets. It was founded in 2023 and is based in Tortola, Virgin Islands (British).
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ESPs containing Ethena
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The yield-bearing stablecoin issuers market includes companies that create and issue stablecoins with built-in yield mechanisms that automatically generate returns for holders without requiring external staking or farming. These issuers embed yield-generation directly into their stablecoin architecture through treasury-backed yields, algorithmic distribution systems, automated DeFi strategy deploy…
Ethena named as Leader among 15 other companies, including Paxos, Bridge, and Maple Finance.
Ethena's Products & Differentiators
USDe
Ethena's synthetic dollar, USDe, provides the crypto-native, scalable solution for money achieved by delta-hedging Ethereum and Bitcoin collateral. USDe is fully-backed (subject to the discussion in the Risks section regarding events potentially resulting in loss of backing) and free to compose throughout CeFi & DeFi.
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Research containing Ethena
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Ethena in 1 CB Insights research brief, most recently on May 29, 2025.

May 29, 2025
The stablecoin market mapExpert Collections containing Ethena
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Ethena is included in 3 Expert Collections, including Blockchain.
Blockchain
9,434 items
Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Categories include blockchain infrastructure and development, crypto & DeFi, Web3, NFTs, gaming, supply chain, enterprise blockchain, and more.
Fintech
14,203 items
Excludes US-based companies
Stablecoin
471 items
Latest Ethena News
Nov 16, 2025
Written By: Copied The search for the best long-term cryptos goes beyond social media noise or short-term market surges. Today’s top contenders are defined by their structure, timing, and potential to deliver utility across cycles. That means focusing on fundamentals, not just trend-chasing. Projects with strong supply models, defined launch targets, or real-world financial integrations are gaining attention. These tokens offer more than just a quick rally. They represent different sides of where crypto could head next, from stable DeFi layers to presale scarcity plays. This article looks at four standout names, starting with BlockDAG: $435M+ Raised Ahead of February Deadline BlockDAG (BDAG) has officially entered the final stage of its record-setting presale with over $435 million raised and 4.2 billion coins remaining out of its fixed 50 billion supply. Priced at $0.005 in Batch 32, this locked rate is attracting serious attention as the project moves toward its confirmed listing at $0.05. Early projections suggest a post-launch target near $0.40, pointing to a potential 700% to 800% return for those entering now. This transition into what BlockDAG calls the “Value Era” signals a shift away from bonuses and discounts. Every BDAG coin now reflects final supply dynamics, creating built-in scarcity that rewards timing over hype. With the presale ending on February 10, 2026, and over 20 exchange listings confirmed, BlockDAG is preparing for a public debut that could redefine what a successful launch looks like. Designed for long-term utility, the Ethena: Yield Engine Keeps Building While Others Slow Ethena (ENA) is holding firm near $0.32, showing strong consistency in the DeFi arena. This token is not chasing short-term headlines. It is winning attention for building a layered protocol that merges synthetic stable assets with real yield mechanisms. Through delta-neutral strategies and algorithmic peg maintenance, Ethena continues to prove it has deeper market ambitions than price speculation alone. Future growth hinges on adoption across L2s and expansion into lending, which are already on the roadmap. It does not offer the flash of presale hype, but Ethena appeals to those scouting the best long-term cryptos with consistent upside through protocol expansion. As demand for decentralized stablecoin options grows, Ethena’s approach positions it as a DeFi engine with staying power. Ondo: $0.69 Forecast Sparks Confidence From Institutions Ondo (ONDO) is setting itself apart by connecting the old and new. Analysts now predict a 2025 range of $0.48 to $0.69, and that optimism stems from its ability to tokenize real-world financial instruments like Treasuries. ONDO is not built for meme cycles. It is built for long-term infrastructure integration that resonates with both regulated markets and DeFi protocols. The token has yet to explode in visibility, but that is not a weakness. For those looking into the best long-term cryptos, Ondo brings a serious utility case backed by institutional traction. As tokenized finance becomes more mainstream, Ondo may quietly become a core pillar in the next wave of blockchain-driven capital flows. MemeCore: Pushing Higher as Traders Join New Cycles MemeCore (M) has surged to $0.44 with a 7.7% gain in just one week. Its momentum is hard to ignore as the token mixes meme appeal with early-stage speculation. Backed by strong visual branding and growing community chatter, MemeCore is drawing in traders hungry for another breakout candidate in the meme sector. Despite limited functional rollout, the token’s climb has turned heads. As a speculative entry, MemeCore may not yet rival utility giants, but its social traction gives it a strong early-stage edge. For those willing to ride volatility in pursuit of the best long-term cryptos, MemeCore offers a high-risk, high-energy opportunity that could evolve with the right development triggers. Quick Breakdown When evaluating the best long-term cryptos, timing and structure remain key drivers of value. BlockDAG leads with its fixed $0.005 presale price, 4.2 billion coins remaining, and a confirmed listing at $0.05 by February 10. With over $435 million already raised, it offers a defined entry point before a possible price surge toward $0.40, creating one of the strongest value setups available today. Ethena delivers steady performance through DeFi, Ondo taps into institutional finance, and MemeCore rides meme momentum. Still, BlockDAG is the only one offering a time-limited window backed by launch-ready mechanics and real institutional alignment.
Ethena Frequently Asked Questions (FAQ)
When was Ethena founded?
Ethena was founded in 2023.
Where is Ethena's headquarters?
Ethena's headquarters is located at Road Town, Tortola.
What is Ethena's latest funding round?
Ethena's latest funding round is Series A - IV.
How much did Ethena raise?
Ethena raised a total of $146M.
Who are the investors of Ethena?
Investors of Ethena include MEXC Ventures, YZi Labs, ArkStream Capital, Pantera Capital, Franklin Templeton and 41 more.
Who are Ethena's competitors?
Competitors of Ethena include Hermetica and 1 more.
What products does Ethena offer?
Ethena's products include USDe.
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Compare Ethena to Competitors

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MakerDao operates as a decentralized, autonomous organization on the ethereum blockchain. It offers decentralized stablecoin cryptocurrency on the Ethereum blockchain. The company was founded in 2014 and is based in Santa Cruz, California.

Hermetica specializes in the creation of USDh, a Bitcoin-backed synthetic dollar within the cryptocurrency domain. The company's offering is a digital currency that allows users to earn through staking and participation in decentralized finance (DeFi) activities. USDh is designed to provide an alternative to traditional fiat-backed stablecoins, leveraging Bitcoin for value. It was founded in 2022 and is based in Delaware.
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