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Ethena Price in India (ENA)

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ENA to INR Converter

As per last price at 00:00:00, 01/01/70

INR

ENA

TRADE ENA NOW

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ENA Performance

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ENA Market Information

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ENA Price Today

The live price of Ethena is ₹0 per (ENA / INR) with a current market cap of INR. 24-hour trading volume is ₹ INR. ENA to INR price is updated in real-time. Ethena is +0% in the last 24 hours with a circulating supply of .

About Ethena (ENA)

What is Ethena (ENA)?

Ethena is a synthetic dollar protocol on the Ethereum blockchain that created a new type of stablecoin called USDe. Unlike traditional stablecoins like USDC or USDT, USDe is not pegged to fiat currency. Instead, it’s backed by crypto assets and short futures positions.

Who founded Ethena (ENA)?

Ethena (ENA) was founded in 2023 by Guy Young, the CEO of Ethena Labs, the company behind Ethena. Young worked in the traditional financial sector across investment banking, hedge funds, and private equity firms, before delving into the world of crypto and blockchain technology.

Primary features of Ethena (ENA)

• ENA token: ENA is the governance token of the Ethena ecosystem. It is an ERC-20 token that is also the governance token, meaning token holders can vote on Ethena’s project proposals. This boosts a community-driven approach to major decisions concerning the project and highlights the decentralized nature of the ecosystem. 

• Compound earnings: Compound earnings are a salient feature of the ENA token. This enables ENA token holders to increase their rewards significantly without putting in extra effort. 

• Multi-chain support: Ethena supports multiple blockchain networks, making its features and benefits available across different blockchain platforms.

• DeFi integration: Ethena is designed to integrate seamlessly with other DeFi protocols and platforms.

Is ENA a promising cryptocurrency?

ENA is a relatively new crypto that was launched only in April 2024. Within a short time, the token managed to rank in the top 100 cryptos by market capitalization. In terms of ranking by trading volume, the token sits at the 77th slot, signaling investor interest in the token. However, like the broader crypto market that is on a downtrend, the ENA token is also down. As of July 12, it is trading at $0.38. However, as per technical analysis, the token is poised to surge to over $4 by 2030, making it a promising crypto.

Trade in ENA via CoinSwitch by downloading the app.

How do I use ENA?

• ENA token can be used as a value of transaction within the Ethena ecosystem facilitating operations and interactions. It can also be traded, bought, or sold from a crypto exchange like any other crypto.  

• ENA token holders can also stake their ENA tokens to earn staking rewards. 

• ENA is given as a reward to participants in the Ethena ecosystem for liquidity provision or for contributing to the protocol.

• With a total supply of 15,000,000,000 tokens, 30% of the ENA token is reserved for ecosystem development, including funding new projects or grants for developers.

Pros & Cons of ENA

Pros

• ENA token holders can vote on Ethena’s project proposals, fostering a community-driven approach to major decisions concerning the project. 

• ENA token registered a massive growth in market cap to touch $1.3 billion. This positioned Ethena among the top cryptos and highlighted investors’ bullish attitude toward the token and its overall ecosystem. 

• Despite being a relatively new crypto, ENA is listed on several crypto exchanges like CoinSwitch.

Cons

• ENA being a new token is more susceptible to price fluctuations. 

• ENA’s success depends on mainstream adoption within the DeFi space.

• The overall stability of stablecoin in the broader crypto market could impact Ethena’s ecosystem and token value.

How to trade ENA on CoinSwitch?

• To trade ENA on CoinSwitch, download the app. 

• You can start with just ₹100.

• CoinSwitch offers an easy-to-use platform suited for traders of all levels.

Ethena (ENA) ICO summary

In July 2023, Ethena (ENA) raised $6.5 million from top firms like Dragonfly Capital, Deribit, OKX Ventures, Gemini, Bitmex, Huobi, Delphi Digital, and GSR. In addition, Ethena Labs, the innovative arm of Ethena, secured $14 million for its synthetic dollar project. Earlier in 2023, Binance Labs, Gemini, Bybit, Mirana Ventures, OKX Ventures, and Deribit contributed another $6 million. These investments show investor trust in Ethena’s growth and credibility.

Bitcoin Resources

1. How do I buy Ethena?
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To buy Ethena, do the following steps:

Step 1:

Sign in to your CoinSwitch app using your registered mobile number. Enter the OTP sent to your phone, then input your CoinSwitch PIN to access your account.

If you don't have an account, click here to register: new account.

Step 2:

After logging in, you'll find your CoinSwitch dashboard. Look at the top right corner for a search icon. Use it to find Ethena.

Step 3:

Once you find Ethena and are ready to buy, click on the Buy button at the bottom of the screen and follow the instructions to make your purchase.

2. What is the price of Ethena?
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The price of 1 Ethena is ₹0.

Note: Ethena prices are subject to change in the future based on market trends.

3. What is the price of Ethena today?
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The current price of 1 Ethena is ₹0.

Note: Ethena prices are subject to change in the future based on market trends.

4. Can I buy Ethena for ₹100?
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Yes! You can buy Ethena for as low as ₹100 on the CoinSwitch app.
5. How much is 1 Ethena in rupees?
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The current value of 1 ENA is ₹0.
6. What is the current trend in Ethena?
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ENA has been NaN% in the last 24 hours.

ENA to INR Converter

As per last price at 00:00:00, 01/01/70

INR

ENA

TRADE ENA NOW

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.