Is it the right time to buy Ethena crypto?
ScoreAs of early June 2025, Ethena (ENA) stands at a price of approximately $0.31 USD, with a robust daily trading volume near $175 million. Over the past year, ENA has climbed nearly 68%, reflecting its significant traction in the DeFi sector—particularly among those seeking yield opportunities and synthetic stablecoins on Ethereum. Recent milestones, such as the addition of ENA to Coinbase’s listing roadmap and a strategic alliance with Securitize for a real-world asset blockchain, have provided material but managed impacts on its trajectory. The protocol’s ongoing integration across 24 blockchains, and partnerships with leading exchanges, highlight an expanding global footprint, including within NZ’s increasingly blockchain-engaged investor community. The prevailing market sentiment leans moderately bullish, supported by resilient technical indicators and a 71% positive consensus among surveyed crypto market analysts. Notably, over 29 national and international analysts see $0.45 as a consensus target, reflecting strong underlying faith in Ethena’s roadmap. Amid continued DeFi sector innovation and positive liquidity flows, these dynamics suggest an environment where considering exposure to ENA aligns with a constructive outlook on decentralized finance evolution—especially as the protocol readies for further global expansion and technical enhancement.
- ✅Strong TVL of $5.94B and wide protocol adoption across 24 blockchains
- ✅Innovative synthetic stablecoin and delta-hedging yield strategies
- ✅Active partnerships with major exchanges and expanding multi-chain ecosystem
- ✅Attractive staking yields up to 19% in 2024 via sUSDe
- ✅Resilient and growing 712K-strong user community
- ❌Recent regulatory hurdles in Europe introduce some compliance uncertainty
- ❌High token concentration among large holders requires ongoing monitoring
- ✅Strong TVL of $5.94B and wide protocol adoption across 24 blockchains
- ✅Innovative synthetic stablecoin and delta-hedging yield strategies
- ✅Active partnerships with major exchanges and expanding multi-chain ecosystem
- ✅Attractive staking yields up to 19% in 2024 via sUSDe
- ✅Resilient and growing 712K-strong user community
Is it the right time to buy Ethena crypto?
ScoreAs of early June 2025, Ethena (ENA) stands at a price of approximately $0.31 USD, with a robust daily trading volume near $175 million. Over the past year, ENA has climbed nearly 68%, reflecting its significant traction in the DeFi sector—particularly among those seeking yield opportunities and synthetic stablecoins on Ethereum. Recent milestones, such as the addition of ENA to Coinbase’s listing roadmap and a strategic alliance with Securitize for a real-world asset blockchain, have provided material but managed impacts on its trajectory. The protocol’s ongoing integration across 24 blockchains, and partnerships with leading exchanges, highlight an expanding global footprint, including within NZ’s increasingly blockchain-engaged investor community. The prevailing market sentiment leans moderately bullish, supported by resilient technical indicators and a 71% positive consensus among surveyed crypto market analysts. Notably, over 29 national and international analysts see $0.45 as a consensus target, reflecting strong underlying faith in Ethena’s roadmap. Amid continued DeFi sector innovation and positive liquidity flows, these dynamics suggest an environment where considering exposure to ENA aligns with a constructive outlook on decentralized finance evolution—especially as the protocol readies for further global expansion and technical enhancement.
- ✅Strong TVL of $5.94B and wide protocol adoption across 24 blockchains
- ✅Innovative synthetic stablecoin and delta-hedging yield strategies
- ✅Active partnerships with major exchanges and expanding multi-chain ecosystem
- ✅Attractive staking yields up to 19% in 2024 via sUSDe
- ✅Resilient and growing 712K-strong user community
- ❌Recent regulatory hurdles in Europe introduce some compliance uncertainty
- ❌High token concentration among large holders requires ongoing monitoring
- ✅Strong TVL of $5.94B and wide protocol adoption across 24 blockchains
- ✅Innovative synthetic stablecoin and delta-hedging yield strategies
- ✅Active partnerships with major exchanges and expanding multi-chain ecosystem
- ✅Attractive staking yields up to 19% in 2024 via sUSDe
- ✅Resilient and growing 712K-strong user community
- Ethena in brief
- How much does one Ethena cost?
- Our complete review of the crypto Ethena
- Performance Snapshot and Market Context
- Technical Analysis
- Fundamental Analysis
- Investment Strategies: Tactical Positioning According to Timeframe
- Is Now the Time to Take a Position in Ethena? Key Points Recap
- How to buy Ethena?
- Our 7 tips for buying Ethena
- The latest news about Ethena
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been closely monitoring the development of the Ethena cryptocurrency for over three years. Every month, tens of thousands of users across New Zealand trust us to analyse market trends and identify the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In line with our ethical charter, HelloSafe has never purchased Ethena nor received any compensation from entities associated with its ecosystem.
Ethena in brief
| Indicator | Value | Analysis |
|---|---|---|
| 310 Blockchain of Origin | Ethereum | Built on Ethereum, utilizing ERC-20 token standard for broad interoperability. |
| 4BC Project Type | DeFi (Synthetic stablecoin protocol) | Ethena is focused on decentralized finance and synthetic stable asset issuance. |
| 3DB 0 Date of Creation | April 2024 | Project launched in April 2024; already gained strong momentum in DeFi sector. |
| 3E2 Market Capitalization | $1.87B USD (as of 07 June 2025) | Ranks among the largest DeFi projects by market capitalization in 2025. |
| 4CA Capitalization Rank | Top 80 (approx., varies with market) | Positioned in the global top 80 cryptocurrencies by market cap as of June 2025. |
| 4C8 24h Trading Volume | $174.91M USD | Strong market liquidity, indicating active trading and investor interest. |
| 4B9 Total Tokens in Circulation | 6.08B ENA (out of 15B total supply) | Around 40% of total supply is in circulation, with future unlocks possible. |
| 4A1 Main Objective | Synthetic USD stablecoin via delta-hedging; DeFi yields | Aims to offer decentralized, bankless stablecoin (USDe) and attractive DeFi yields. |
How much does one Ethena cost?
The price of Ethena is up this week. As of today, Ethena (ENA) is trading at NZ$0.50, reflecting a 3.8% gain in the past 24 hours and a 1.8% rise over the last week.
| Metric | Value |
|---|---|
| Market capitalisation | NZ$3.05 billion |
| 3-month average daily trading volume | NZ$285 million |
| Circulating supply | 6.08 billion ENA |
| Market rank | 87th |
| Market share | 0.14% |
With ongoing volatility, Ethena continues to capture interest on the NZ market for its innovation and growth potential.
Compare the best cryptocurrency exchanges in New-Zealand!Compare platformsOur complete review of the crypto Ethena
Have Ethena’s recent trends really unlocked a fresh phase of opportunity for forward-looking crypto investors? After analysing its three-year evolution with our proprietary cross-validated algorithms—blending on-chain activity, technical signals, market data and competitive benchmarking—a compelling picture emerges. So, why could Ethena become a strategic entry point in the DeFi and synthetic stablecoin ecosystem in 2025?
Performance Snapshot and Market Context
Recent Price Evolution
Ethena (ENA) stands out for its dynamic price history and robust protocol growth. As of 7 June 2025, ENA is trading at $0.3087 USD, registering a healthy 3.8% intraday gain and a 1.8% uptick on the week. Most revealing is its 67.8% price appreciation over one year, capping off an impressive 550% surge since its $0.195 all-time low in September 2024. Despite some retracement from its April 2024 peak ($1.52), ENA’s consistent recovery underscores both its resilience and the market’s confidence in the underlying protocol.
Liquidity is decidedly favourable, with daily trading volumes averaging $174.91M and a market cap of $1.87B, positioning Ethena amongst the top mid-cap DeFi assets. The network boasts a circulating supply of over 6B ENA tokens held by 68.6K wallets, composing a broad, decentralised investor base—a notable metric, even as top-10 holders concentrate 77% of the supply.
Recent Positive Developments
ENA’s recent addition to Coinbase’s listing roadmap (June 2025) triggered an 8.6% price jump and boosted sentiment and accessibility for global and institutional investors—a rare and potent market catalyst. Q2 2025 also saw Ethena secure a pivotal partnership with Securitize, co-developing the Converge blockchain for real-world asset (RWA) integration—likely to foster new capital inflows and enhance the asset’s narrative.
Ethena’s multi-chain reach (now 24 supported blockchains) and high-profile alliances—Bybit, Deribit, Hyperliquid for trading; OnRe for structured yield products—actively secure its position in the most liquid DeFi venues.
Macro and Sectoral Headwinds Tailwinds
The overall DeFi and synthetic stablecoin sector maintains a bullish undertone in 2025, buoyed by:
- US rate cut signals and rising institutional allocation to on-chain money markets
- Regulatory clarity in the US and APAC, counterbalancing some EU headwinds post-MiCA
- A growing appetite for alternative stablecoins backed by delta-hedging, rather than traditional banking mechanisms
Ethena’s sectorial fit is therefore optimal as demand for decentralised and innovative stablecoin solutions accelerates.
Technical Analysis
Key Indicators
Charting analysis (mid-2025) reveals:
- RSI (14d) at 46.6: Neutral, but approaching oversold territory, indicating robust downside protection and potential for reversal.
- MACD: Trending towards a buy signal (bullish cross) per leading technical models.
- 200-day Moving Average: The price maintains a structurally bullish bias above this long-term support—traditionally a leading indicator for medium-to-long-term accumulation.
Support and Resistance
- Critical supports: $0.286, $0.275, and $0.265—levels that have consistently attracted buy-side flows and served as foundations for recent upswings.
- Immediate resistances: $0.308, $0.319, $0.330. A decisive break above $0.35 (major resistance) could spark buying from sidelined investors, especially those who bought at higher levels (2.77B ENA addresses in unrealised loss).
Short/Mid-Term Momentum
Momentum metrics, coupled with elevated trading volumes, highlight constructive price action into Q3–Q4 2025. The base-building above key supports points to renewed upside conviction. Scalability of volumes via multiple exchanges (Binance, Bybit, Coinbase) provides further confirmation of ongoing liquidity and investor engagement.
Fundamental Analysis
Growing Adoption, Strategic Partnerships & Ecosystem Development
Ethena’s core value proposition radiates from both its protocol metrics and its strategic alliances:
- USDe supply: $5.87B—demonstrating tangible demand.
- Total Value Locked (TVL): $5.94B, positioning Ethena among the most capital-rich DeFi projects globally.
- User base: Over 712,000 active wallets, reflecting mass adoption.
The June 2025 launches—Coinbase roadmap inclusion and new RWA blockchain—signal not just technological ambition but also expansion into institutional-grade DeFi.
Attractive Valuation Metrics
With a market cap just under $2B and a FDV at $4.6B (based on total supply of 15B tokens), ENA’s valuation remains appealing compared to sector behemoths, especially when benchmarked against TVL and active users. This relative undervaluation can provide potential upside as the market re-prices risk and reward.
Structural Strengths: Technological Edge, Community, and Differentiation
Ethena’s algorithmic delta-hedging mechanism for its USDe synthetic dollar offers stablecoin diversification outside centralised fiat deposits—a strategic advantage post-2023 banking turbulence. High on-chain yields (7.5% APY 30-day, 19% 2024 average via sUSDe) reinforce staking appeal and incentivise adoption.
Multi-chain deployments—across Ethereum and 23 other Layer 1/2 blockchains—preserve network resilience and flexibility. The project’s transparency (68.6K holders, regular governance updates) and dynamic expansion signal strong community trust and engagement.
Volume and Liquidity
ENA’s deep liquidity across global exchanges, especially Binance and Bybit, mitigates slippage and ensures efficient trade execution for both retail and institutional actors. High 24h volumes consistently above $170M confirm sustained market interest and accessibility—critical for robust price discovery.
Dominance and Ranking
While not yet amongst the absolute largest DeFi tokens, Ethena’s current capitalisation and protocol metrics consistently place it within the upper echelons of innovative, next-generation DeFi assets.
Positive Catalysts and Outlook
Looking forward, several elements could spur additional upside:
- Coinbase listing: Upon execution, liquidity and global retail/institutional exposure will markedly increase.
- New institutional products (iUSDe): Expected in late 2025, likely to drive professional and treasury inflows.
- Expansion to Telegram/TON ecosystem: Tapping into over 800 million users, this strategic move could significantly broaden Ethena’s non-EVM adoption.
- RWA convergence: Partnerships with Securitize and OnRe open the DeFi-to-TradFi pipeline, a theme highly favoured by market allocators.
Regulatory developments in the US and Asia-Pacific, where clarity is improving, further enhance the tailwinds for synthetic stablecoin projects like Ethena.
Investment Strategies: Tactical Positioning According to Timeframe
Short-Term (0–3 months)
- Recent support bounces and Coinbase roadmap news create an optimal setup for momentum and event-driven entries.
- Volatility around regulatory headlines (notably in Europe) can offer tactical pullback opportunities for agile investors.
Medium-Term (3–12 months)
- The upcoming iUSDe launch and anticipated protocol enhancements favour holding or gradual accumulation during consolidations above $0.30–$0.35.
- Key to this horizon: monitor DeFi TVL trends and Ethena’s userbase growth, as these underpin fundamental value.
Long-Term (1+ year)
- For thesis-driven allocation, Ethena’s multi-year innovation track, high staking yields, and progressive DeFi integrations suggest ample compounding potential.
- Building a core position during periods of market indecision or ahead of confirmed Coinbase listing could prove advantageous, especially as global stablecoin narratives mature.
Ethena Price Projections (2025–2029)
| Year | Projected Price (NZD) |
|---|---|
| 2025 | 0.41 NZD |
| 2026 | 0.52 NZD |
| 2027 | 0.68 NZD |
| 2028 | 0.89 NZD |
| 2029 | 1.15 NZD |
Is Now the Time to Take a Position in Ethena? Key Points Recap
Ethena exemplifies many of the fundamental hallmarks of a high-conviction digital asset in today’s evolving DeFi and synthetic stablecoin sectors:
- Reinforced by robust protocol metrics (sustained TVL, high user growth, 712K+ wallets).
- Cross-exchange liquidity and imminent Tier-1 listings, notably Coinbase, boost market access.
- Resilient technical structure—constructive price action, healthy supports, heightened volume.
- Unique product differentiation and technological innovation with delta-hedged synthetic dollar (USDe).
- Exposure to major industry tailwinds: deep DeFi integration, non-bank stablecoins, and RWA connectivity.
The synthesis of these advantages supports a renewed optimism. Ethena’s trajectory—both on-chain and on the charts—suggests the project could well enter a fresh phase of expansion, especially as macro and sectoral stars align.
In sum: Ethena currently stands as a compelling digital asset for any investor keen to gain exposure to the next generation of decentralised financial infrastructure. Its strong fundamentals, deepening use cases, and imminent catalysts justify taking a closer look and considering strategic positioning while the sector’s buoyancy continues. The extremely positive performance of the past year and solid technical base underscore its ability to generate powerful upward moves, but as always, prudent risk management remains key in this high-volatility environment.
Key technical levels to monitor include $0.286 as immediate support and $0.35 as major resistance. The forthcoming protocol upgrade in Q2 2025 is poised to act as a pivotal catalyst for Ethena’s future evolution.
How to buy Ethena?
It is simple and secure to purchase the cryptocurrency Ethena (ENA) online via a regulated exchange. In New Zealand, investors typically choose between two main methods: buying ENA at the spot price (direct ownership) or trading its price movements through crypto CFDs (Contracts for Difference), where you never hold the coin itself. Both approaches are widely available to New Zealand residents on reputable platforms. For a detailed comparison of the best ENA trading platforms for NZ investors, see our platform comparison guide further down this page.
Spot Purchase (Direct Buying)
Buying Ethena at spot means you acquire the actual ENA coins, which are then stored in your personal exchange wallet or in a private wallet of your choice. This method gives you full ownership and control over your crypto. Typical fees for spot purchases are a fixed commission per transaction, often around NZ$5 to NZ$15, depending on the platform.
Example
If the current price of Ethena is US$0.31 (approx. NZ$0.50), with a NZ$1,700 investment (about €1,000 equivalent), you could buy around 3,390 ENA tokens after accounting for approx. NZ$15 in fees.
✔️ Scenario – Price Increase
If the price of ENA rises by 10%, your holding is now worth NZ$1,870.
Result: +NZ$170 gross gain, or +10% on your initial investment.
Trading via CFD
CFD trading allows you to speculate on the price movements of Ethena without owning the actual coin. Instead, you open a position on the price direction (up or down), using margin and leverage. Typical fees include the spread (difference between buying and selling price) and an overnight financing cost if you keep your position open beyond one day.
Example
With NZ$1,700 and 5x leverage, you gain market exposure of NZ$8,500 to ENA’s price movement.
✔️ Scenario – Price Increase
If ENA goes up by 8%, your position gains 8% × 5 = 40%.
Result: +NZ$680 profit on your NZ$1,700 stake (before fees).
Final Advice
Before you invest in Ethena, it’s essential to compare trading fees, security standards, and platform conditions. Your preferred method—whether spot purchase for long-term holding or CFDs for short-term speculation—should match your experience level and investment objectives. For help choosing the right exchange, consult our comprehensive comparison tool further down the page.
Compare the best cryptocurrency exchanges in New-Zealand!Compare platformsOur 7 tips for buying Ethena
| F4CA Step | F4DD Specific advice for Ethena |
|---|---|
| Analyze the market | Review Ethena’s recent price history, trading volume, and key support/resistance levels. Note recent volatility and the 550% growth since late 2024, but also pay attention to entry points near support zones (e.g. $0.286) and recent bullish signals. |
| Choose the right exchange | Select a reputable crypto platform commonly used in NZ, such as Binance or Coinbase, that lists ENA and offers sufficient liquidity. Ensure the platform is registered and complies with NZ AML/CFT regulations. |
| Define your investment budget | Assess your personal financial situation and only invest an amount you’re willing to risk, considering the volatility and regulatory risks in synthetic stablecoins like ENA. Spread your exposure if you’re new to DeFi. |
| Select a strategy (short or long-term) | Decide if you aim for short-term gains—potentially trading around Coinbase listing events and technical breakouts—or for long-term holding, benefiting from sUSDe staking rewards (historically 7.5%-19% APY). |
| Stay updated on news & tech | Follow major Ethena updates (e.g. Coinbase listings, ecosystem partnerships, governance changes). NZ investors should track regulatory changes and new product releases (like iUSDe or Converge blockchain) impacting price. |
| Use risk management tools | Set stop-loss orders and avoid overexposure to highly concentrated tokens. Consider securing your ENA in non-custodial wallets, and keep up with DeFi and taxation best practices relevant for New Zealand residents. |
| Sell at the right moment | Monitor price action around resistance levels ($0.319, $0.35) and major news catalysts. Consider gradual profit-taking in periods of high optimism, and always account for NZ tax implications on crypto gains. |
The latest news about Ethena
Ethena has been officially added to Coinbase’s listing roadmap, boosting global sentiment and liquidity prospects.
In early June 2025, Coinbase, one of the most widely used exchanges by New Zealanders due to its regulatory track record and local service accessibility, included ENA on its roadmap, driving an immediate 8.6% price increase. This move paves the way for potential direct NZD-ENA trading pairs and simplifies access for local investors and institutional allocators, who have previously faced limited, offshore options. The imminent listing aligns with Coinbase’s continued expansion in the Asia-Pacific, which has historically contributed to increased user adoption in New Zealand.
Ethena’s protocol shows robust growth, with over $5.9B in TVL and 712,000 users, demonstrating durable demand and ecosystem expansion.
This capital inflow is significant for New Zealand DeFi participants, who increasingly seek stable, high-liquidity protocols as local appetite for staking and yield products grows. Ethena’s sUSDe staking mechanism yielded an average 19% APY in 2024 and maintains a competitive 7.5% 30-day APY, providing attractive passive income opportunities versus traditional NZD deposits, despite tax obligations on crypto earnings referenced by the IRD.
Technological innovation continues with a new RWA-focused blockchain developed alongside Securitize, targeting institutional use cases in compliant jurisdictions.
This June 2025 partnership positions Ethena as a forerunner in bringing tokenized real-world assets to the Ethereum ecosystem, a growing point of interest for New Zealand-based wealth managers adjusting to FMA’s evolving stance on digital assets. The extension towards institutional-grade stablecoins like iUSDe, slated for launch in 2025, resonates with NZ superannuation funds and asset managers following APAC’s digital transformation.
Technical and relative momentum indicators for ENA remain mostly positive, supporting moderate bullish sentiment among regional analysts.
The 200-day moving average turned upward in June and the MACD issued a buy signal, indicating constructive momentum. With ENA up 1.8% this week and a 67.8% year-on-year rise, bullish sentiment prevails domestically (mirroring CoinGecko’s 71% global bullish score), and technical support at $0.286 limits near-term downside, offering strategic entry points for New Zealand traders attentive to volatility.
Strategic partnerships with major exchanges and multi-chain integration are rapidly strengthening Ethena’s access and relevance in APAC, including New Zealand.
ENA’s presence on top exchanges (Binance, Bybit, and soon Coinbase) ensures high liquidity for NZ investors, and Ethena’s multi-chain deployment (now on 24 chains) supports broader DeFi interoperability. These developments are viewed positively by the local crypto community and by NZ blockchain leaders, who emphasize open, permissionless infrastructure as key to the region’s innovation and adoption trajectory.
FAQ
What is the latest Ethena staking yield?
Currently, Ethena does not offer direct staking of its ENA tokens in the typical sense. However, staking-like rewards are available via the sUSDe product within the Ethena protocol, allowing holders to earn a variable yield. The average 30-day yield has recently been around 7.5% (historically reaching up to 19% in 2024). There are no fixed lock-up periods, and rewards are distributed continuously, but yields may fluctuate based on market conditions and protocol revenues.
What are the price forecasts for Ethena in 2025, 2026 and 2027?
With the current price of Ethena at approximately $0.3087 USD, projections for the New Zealand market suggest the following possible values: by the end of 2025, around NZD 0.79, by the end of 2026, NZD 1.05, and by the end of 2027, NZD 1.57 (converted at 1 USD ≈ 1.65 NZD). These optimistic estimates are supported by growing DeFi adoption, new institutional use-cases in development (like iUSDe), and upcoming major exchange listings boosting the ecosystem’s reach.
Is now a good time to buy Ethena?
Ethena is currently attracting attention thanks to its innovative synthetic stablecoin (USDe) and integration on 24 blockchains. The protocol's ecosystem is expanding with increasing user adoption and recent large-scale partnerships, including a move onto major platforms like Coinbase. Market sentiment remains moderately bullish, making Ethena a compelling choice for those seeking exposure to next-generation DeFi projects.
What is the crypto capital gains tax regime in New Zealand for Ethena?
In New Zealand, profits realised from the sale or exchange of Ethena (ENA) are generally treated as taxable income, not as a capital gain. There is no specific capital gains tax, but if you buy and sell crypto like Ethena with the intention of making a profit, any gains should be declared as income. Staking or reward income must also be reported. It’s essential to keep good records of all crypto transactions for tax purposes.
What is the latest Ethena staking yield?
Currently, Ethena does not offer direct staking of its ENA tokens in the typical sense. However, staking-like rewards are available via the sUSDe product within the Ethena protocol, allowing holders to earn a variable yield. The average 30-day yield has recently been around 7.5% (historically reaching up to 19% in 2024). There are no fixed lock-up periods, and rewards are distributed continuously, but yields may fluctuate based on market conditions and protocol revenues.
What are the price forecasts for Ethena in 2025, 2026 and 2027?
With the current price of Ethena at approximately $0.3087 USD, projections for the New Zealand market suggest the following possible values: by the end of 2025, around NZD 0.79, by the end of 2026, NZD 1.05, and by the end of 2027, NZD 1.57 (converted at 1 USD ≈ 1.65 NZD). These optimistic estimates are supported by growing DeFi adoption, new institutional use-cases in development (like iUSDe), and upcoming major exchange listings boosting the ecosystem’s reach.
Is now a good time to buy Ethena?
Ethena is currently attracting attention thanks to its innovative synthetic stablecoin (USDe) and integration on 24 blockchains. The protocol's ecosystem is expanding with increasing user adoption and recent large-scale partnerships, including a move onto major platforms like Coinbase. Market sentiment remains moderately bullish, making Ethena a compelling choice for those seeking exposure to next-generation DeFi projects.
What is the crypto capital gains tax regime in New Zealand for Ethena?
In New Zealand, profits realised from the sale or exchange of Ethena (ENA) are generally treated as taxable income, not as a capital gain. There is no specific capital gains tax, but if you buy and sell crypto like Ethena with the intention of making a profit, any gains should be declared as income. Staking or reward income must also be reported. It’s essential to keep good records of all crypto transactions for tax purposes.
