Should You Buy Ethena in 2025?

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At HelloSafe, our expert has been monitoring the Ethena cryptocurrency trends for over three years. Every month, hundreds of thousands of users across Canada trust us to analyze market trends and identify the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In accordance with our ethical policy, HelloSafe has never purchased Ethena nor received any compensation from entities associated with its ecosystem.

Ethena in brief

How much does 1 Ethena cost?

The price of Ethena is up this week. Currently, Ethena (ENA) trades at approximately CA$0.47, reflecting a 1.55% increase in the last 24 hours and a strong 9.8% rise over the past week. Its market capitalization stands at around CA$2.74 billion, with an average daily trading volume over the past three months close to CA$308 million. Ethena ranks #47 by market cap, with 5.82 billion ENA tokens in circulation and a market dominance near 0.14%. Ethena’s recent positive momentum highlights both its volatility and its emerging appeal to Canadian investors seeking opportunities in the evolving crypto landscape.

Our complete review of the Ethena cryptocurrency

Have the latest on-chain indicators, technical signals, and market data for Ethena revealed a paradigm shift underway, or are we witnessing the emergence of a new DeFi leader? By harnessing three years of price evolution, ecosystem developments, and competitive intelligence—filtered through our proprietary analytics suite—our review dives deep into the critical drivers behind ENA's trajectory. So, why might Ethena once again represent a strategic entry point for investors seeking high-conviction opportunities in the decentralized finance sector as 2025 approaches?

3. Performance Recente et Contexte de Marché

Recent Price Evolution

Ethena’s price action has demonstrated robust resilience and relatively strong upside momentum, especially across the previous twelve months. As of June 4, 2025, ENA is trading at $0.3426 USD, posting a year-on-year increase of +64.8% and recovering over 75% from its all-time low of $0.1953 recorded in September 2024. This sharp bounce underscores the protocol’s capacity to capture renewed investor interest following periods of market recalibration.

ENA remains, however, well below its all-time high price of $1.52 (April 2024), trading at a 77% discount—an asymmetry that many growth-driven portfolios regard as highly advantageous, particularly when juxtaposed with the project’s fundamental expansion.

Positive Events Driving Sentiment

• Major ecosystem integrations—including seamless onboarding with Aave (BNB pool), Deribit, and the global rollout across 24 blockchains—have significantly improved ENA’s real-world accessibility.
• The groundbreaking TON Foundation partnership opens distribution channels to over 1 billion Telegram users, cementing ENA’s presence in retail and influencer-driven circles.
• Recent fundraising ($100M raised from leading TradFi players such as Franklin Templeton) provides both operational runway and public validation, positioning Ethena among DeFi’s most institutionally credible narratives.
• Explosive growth in core protocol metrics, notably the protocol’s Total Value Locked (TVL)—now at $5.8B—and sustained usage of its flagship stablecoin offering, USDe.

Macro and Sector Context

• A renewed focus on sustainable, yield-bearing protocols as investors diversify away from purely speculative tokens.
• Measured regulatory progress in major jurisdictions, opening new avenues for compliant DeFi expansion.
• A structural pivot of capital away from CeFi and traditional banking rails, with synthetic stablecoins like ENA emerging as safe harbours for both yield-seeking and risk-off capital.

Ethena, at the nexus of innovation and mainstream TradFi integration, is uniquely positioned to ride this structural sectoral pivot into 2026.

4. Technical Analysis

Key Crypto Indicators

• RSI (Relative Strength Index): At 48.35, ENA sits comfortably in neutral territory, signalling equilibrium between buyers and sellers; crucially, this leaves substantial runway for moves to the upside, with no imminent threat of overbought conditions.
• MACD (Moving Average Convergence Divergence): Recent bearish crossover is being watched closely by technical traders; however, the lack of pronounced momentum divergence points toward a possible bottoming and imminent reversal.
• Moving Averages: ENA price remains just below major moving averages (notably the 200-day EMA), yet has successfully defended the $0.33 support—a zone that technical participants will consider a key “bid wall” and possible springboard.

Support Levels and Bullish Reversal Signals

• Key Technical Supports: The primary support at $0.33 is robust, repeatedly attracting buy pressure during market dips, which is a positive structural signal for prospective entrants.
• Resistance and Breakout Triggers: $0.35-$0.40 serves as an initial resistance zone; a decisive close above $0.40 would be a meaningful bullish trigger, likely catalysing momentum traders into action.

Momentum and Short/Mid-Term Outlook

• The momentum structure is primed for upward reversion. Sideways action under $0.35 has seen accumulation, with technical oscillators indicating sellers’ exhaustion and capitulation in prior months.
• Short- to mid-term, ENA’s technical profile appears poised for a volatility expansion event—potentially triggered by protocol upgrades, further integrations, or market-wide positive sentiment in DeFi assets.

5. Fundamental Analysis

Network Growth, Adoption & Ecosystem Strength

• Explosive Multi-Chain Reach: Operating on 24 blockchains, Ethena has engineered a multi-faceted network effect, dramatically increasing protocol stickiness and asset liquidity.
• Strategic Partnerships: The integration with Telegram (TON Foundation), collaborations with DeFi blue-chips (Aave, Pendle), and the recent joint venture with Securitize position Ethena at the confluence of mass retail and institutional growth.
• Protocol Activity: With 710,000+ active users, and protocol TVL of $5.8B, ENA stands as the #3 stablecoin protocol globally—a testament to compelling product-market fit.

Relative Valuation

• Market Cap/TVL Alignment: At a $1.99B market cap and $5.84B TVL, the MC/TVL ratio remains attractive relative to key DeFi sector peers—highlighting latent value yet to be priced in, especially as product velocity accelerates.
• Discount to All-Time High: Trading 77% off April 2024 highs, ENA offers a unique risk/reward equation for high-conviction capital.

Structural Advantages

• Technological Edge: ENA leverages a delta-neutral, crypto-native architecture (basis trading, sustainable revenue via protocol fees and lending), insulating it from traditional banking risk while enabling superior DeFi-native yields (recently as high as 19% APY).
• Transparency & Security: Real-time proof of reserves, weekly asset verification, and open, DAO-driven governance appeals strongly to both institutional allocators and compliance-conscious users.
• Community & Institutional Backing: Significant participation from leading crypto funds, plus active community governance, further anchoring protocol resilience.

Volume and Liquidity

• High Trading Volume: $224.8M in 24h volume, with an 11% ratio to market cap, signals deep liquidity and healthy market depth—critical for both retail and institutional traders.
• Exchange Accessibility: Listed on 130+ top-tier exchanges, direct DeFi integrations, and strong OTC rails ensure ease of entry and exit, reducing slippage and execution risk.

Dominance and Comparative Positioning

• Among the top 50 crypto-assets globally, ENA’s climb to #47 reflects both absolute network growth and relative outperformance versus many rival DeFi protocols.
• With the project's multi-chain and TradFi integration strategy, Ethena is well positioned to climb the rankings through both new user acquisition and expansion of capital inflow.

Positive Catalysts and Future Tailwinds

• Major Protocol Upgrades: Upcoming technical milestones and integration of new financial instruments continue to enhance the protocol’s value proposition.
• Institutional Adoption: ENA being increasingly accepted as margin collateral across a growing list of exchanges, and fresh waves of institutional capital entering through regulated funds.
• TradFi Collaboration: Direct institutional inflows into fixed-income DeFi products built atop the Ethena stack signal endurance well beyond typical crypto hype cycles.
• Regulatory Clarity: Improvements in DeFi regulation, particularly in the EU and North America, de-risk the blueprint for synthetic dollar protocols.
• With a 1BN-user Telegram addressable market, Ethena’s growth ceiling is meaningfully higher than most rivals in the near term.

6. Investment Strategies by Horizon

Short-Term Perspective (Weeks to a Few Months)

• Technical Pullbacks: ENA’s solid technical support around $0.33 presents an optimal candidate for “buying-the-dip” strategies, with a sharp risk/reward profile in anticipation of a breakout above the $0.35–$0.40 congestion zone.
• Catalyst Timing: Entry ahead of major events (protocol upgrades, new exchange listings, cross-chain integrations) can be tactically timed using tight stop-losses.

Mid-Term Outlook (6–12 Months)

• Re-rating Potential: As DeFi sector sentiment returns and Ethena executes on its next expansion phase, a re-rating towards previous resistance zones ($0.40–$0.55) is plausible.
• Institutional Flows & Partnership Announcements: Holders benefit from momentum generated by fresh capital inflows and high-impact partnership news.

Long-Term View (1–5 Years)

• Growth Compounding: Investors with a multi-year horizon may capitalize on Ethena’s compounding fundamental growth, especially as the protocol bridges DeFi yields into the global TradFi system and pioneer access to emerging user bases (e.g., Telegram’s 1B+).
• Market Share Capture: As synthetic stablecoins mature, Ethena’s innovative model and cross-chain strategy could enable significant capture of market share currently dominated by legacy stablecoin players.
• Strategic Re-Entry: Long-term portfolios may benefit from accumulating on technical retracements, positioning themselves before major roadmap milestones.

Ideal Positioning

• Accumulation Approach: Layering positions during low volatility periods and consolidations allows risk-managed exposure, especially as risk/reward skews positively at these discounted valuation levels.
• Pre-Event Accumulation: Engaging ahead of protocol upgrades, or during sectoral rotations favouring DeFi, maximizes exposure to bullish event-driven price action.

7. Ethena Price Predictions: 2025–2029

8. Is Now the Right Time to Consider Ethena?

Ethena stands out as a next-generation DeFi protocol, combining exponential growth in user activity, breakthrough institutional partnerships, and pioneering risk-minimized yield mechanics. Its protocol is uniquely positioned at the intersection of mass-market adoption (via integrations with Telegram and Securitize) and institutional credibility, as validated by large-scale funding and TradFi partnerships. The technical context further enhances its attractiveness: ENA is structurally supported at $0.33, with significant upside potential as momentum builds towards a challenge of $0.40 and beyond—levels not seen since the last major acceleration phase.

The case for serious consideration is amplified by these core strengths:

• Trading more than 75% below its all-time highs, ENA offers asymmetric upside potential not often found among top-50 crypto assets.
• Exceptional volume and liquidity, repeated “bid zone” defense at major supports.
• Strong, transparent ecosystem growth, with a forward-looking roadmap focused squarely on mainstream adoption and sustainable revenue generation.

Looking ahead, growth catalysts—from regulatory clarity, new product launches, to TradFi and Telegram scale integrations—suggest Ethena is set to enter a new bullish phase. The upcoming protocol upgrade (Q2 2025) and increasing institutional inflows are likely to heighten both price discovery and investor engagement. For investors seeking high-conviction opportunities in the evolving digital asset ecosystem, Ethena’s fundamentals and current technical structure justify renewed interest.

Ethena remains a high-volatility asset that offers dynamic investment opportunities and requires disciplined risk management. The recent uptrend highlights Ethena’s potential for fast, decisive price action, yet caution is warranted as macro conditions evolve. Technical levels to watch include $0.33 as the major support and $0.40 as short-term resistance. The next protocol milestone, projected for H2 2025, could be a decisive catalyst propelling Ethena into its next leg of growth.

How to buy Ethena?

It is simple and secure to buy the Ethena (ENA) cryptocurrency online through a regulated platform in Canada. You can choose between two main methods: direct spot purchase, where you own the coins in your wallet, or crypto CFD trading, where you speculate on the price without actually holding ENA. Each approach has different costs, risks and advantages. Choosing the right method depends on your goals and investing style. To help you decide, a detailed comparison of the best platforms for Canadians is available further down on this page.

Spot Purchase

Buying Ethena “spot” means you directly purchase and receive real ENA coins, which are then stored in your exchange wallet or sent to your personal crypto wallet. Most platforms charge a flat commission per transaction, typically ranging from 0.2% to 1.5%, payable in CAD.

Informations importantes

Example:
Suppose Ethena trades at $0.34 USD (about $0.47 CAD).
With a $1,000 CAD investment, minus a typical $5 fee, you could buy approximately 2,117 ENA tokens ($1,000 – $5 = $995, divided by $0.47 per token).
✔️ Potential Gain:
If the price of ENA rises by 10%, your tokens would now be worth $1,100 CAD.
Result: +$100 gain (before fees)—a 10% return on your original investment.

Trading via CFD

With crypto CFDs (“Contracts For Difference”), you do not own the actual ENA coins. Instead, you take a position on ENA’s price movements, choosing leverage to potentially multiply both gains and losses. Costs include a spread (the price gap between buy/sell) and daily overnight financing if the trade remains open for more than a day.

Informations importantes

Example:
You open a CFD position on ENA using a $1,000 CAD deposit and 5x leverage.
You are now exposed to $5,000 CAD worth of ENA price movement.
✔️ Potential Gain:
If the price of ENA climbs 8%, your leveraged trade returns 8% × 5 = 40%.
Result: +$400 gain on a $1,000 deposit, not including fees or overnight charges.

Final Advice

Before investing, always compare the fees and conditions of different platforms, as these directly impact your results. The best method depends entirely on your risk tolerance, objectives, and investing experience. For further guidance, see our in-depth platform comparator for Canadians below on this page.

Our 7 tips for buying Ethena

The latest news from Ethena

Ethena’s ENA token has surged nearly 10% weekly, with sustained positive momentum and strong institutional trading volumes. The asset closed the week at $0.3426, registering a 9.8% increase over seven days and outpacing much of the crypto market in relative terms. Its 24-hour trading volume of $224.84 million and market capitalization of $1.99 billion keep it in the top 50 globally. Technical indicators remain neutral but show that price is approaching tested support at $0.33, with potential resistance in the $0.35–$0.40 channel. Despite currently trading 77% below its all-time high, ENA’s resilience and ability to attract substantial liquidity on major international exchanges—including those accessible from Canada—are clear market positives.

Ethena’s integration with the TON Foundation and Telegram ecosystem enhances its mainstream reach and utility for Canadian DeFi users. With the recently announced partnership, Ethena’s synthetic dollar (USDe) and its staked variant are being incorporated into the Telegram ecosystem via the TON blockchain, which reaches over a billion global users. This strategic development is particularly notable for the Canadian market, where Telegram adoption is high among crypto enthusiasts and cross-platform DeFi solutions are in increasing demand. The move opens doors for broader accessibility, potentially catalyzing higher engagement and utility for Canadian users and serving as a robust foundation for further North American DeFi adoption initiatives.

Institutional interest in Ethena is growing, evidenced by a $100 million funding round featuring traditional finance leaders like Franklin Templeton. This capital injection reflects strong confidence from both crypto-native and mainstream investment managers in Ethena’s capacity for sustainable growth. The freshly raised funds are earmarked for further blockchain development and deeper integration with traditional finance ("TradFi") products, including yield-bearing instruments relevant to institutional portfolios in Canada. The momentum underscores Ethena’s unique value proposition as a bridge between DeFi innovation and regulated financial products, a narrative that aligns with the ongoing Canadian trend towards institutional crypto adoption.

Ethena is delivering sustained DeFi yields, offering a 7.7% 30-day average annual percentage yield (APY) and maintaining robust on-chain reserves. Over the past month, Ethena’s sUSDe product has provided an average APY of 7.7%, with the protocol consistently upholding a 101%+ backing ratio as monitored by real-time and third-party validations. For Canadian DeFi participants seeking stablecoin-linked returns, this provides a credible and transparent option backed by a publicly auditable reserve structure. Ethena’s positioning as the third-largest stablecoin protocol by total value locked ($5.8B) reinforces the protocol’s operational stability and its relevance as a yield-generation vehicle even amid market volatility.

Ethena’s expanding DeFi presence, including listings on all major exchanges available in Canada and integrations with protocols like Aave and Pendle, strengthens accessibility for local investors. Canadian residents benefit from full access to ENA trading via Binance, KuCoin, Gate.io, and Bybit, as well as comprehensive DeFi integrations. Notably, ENA and its synthetic stablecoin are now supported as collateral within DeFi lending and yield strategies across 24 blockchains. This cross-platform presence, combined with real-time transparency around reserves and governance, addresses local market demand for reliable, diversified crypto-asset exposure while accommodating evolving Canadian regulatory and tax frameworks.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.