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Ethena (ENA) · price and where to buy

Buy Ethena (ENA) with euros: compare what you receive

1 ENA ≈ €0.17mid-market price on 4 platforms · 21:09 CEST

For €100 you currently get the most ENA on OKX: 577.3172 ENA after all fees (1.10%). On Bitstamp you would get 573.0476 ENA, worth €0.73 less. Based on our comparison of 20 October 2026, 21:09 CEST, buying in the simple app with money already in your account.

Ethena

How will you pay?

Euros already in your account, for example after a bank transfer. Any deposit fee is not included.

How will you buy?

One tap to buy in the app. The price often includes a markup.

Most Ethena for your money: OKX, 577.3172 ENASee the comparison

Comparison result

€100 of Ethena, Euro balance, simple app. Calculated at .

  1. OKX

    Most crypto for your money

    You get

    577.3172 ENA

    Costs

    €1.10 1.10%

    Go to OKX (opens in a new tab)
    Cost breakdown
    Payment fee
    €0.00
    Trading fee
    €0.00
    Maximum app markup (1.00%)
    €0.99
    Price difference and order book
    €0.11
    Total
    €1.10

    You effectively pay €0.17 per ENA. Market data from . We use the maximum markup OKX publishes; the actual markup may be lower (source: OKX Buy/Sell/Convert spread disclosure (opens in a new tab): maximaal 1,00%, 11 August 2026). Read our OKX fee guide

  2. Bybit EU

    €0.21 more than OKX

    You get

    576.0777 ENA

    Costs

    €1.31 1.31%

    Go to Bybit EU (opens in a new tab)
    Cost breakdown
    Payment fee
    €0.00
    Trading fee
    €0.00
    App markup (1.30%)
    €1.28
    Price difference and order book
    €0.03
    Total
    €1.31

    You effectively pay €0.17 per ENA. Market data from . The app markup is published by Bybit EU (source: Bybit EU FAQ One-Click Buy (opens in a new tab): 1,30% op werkdagen 07:31–20:59 UTC, anders 1,80%, 15 September 2026). Read our Bybit EU fee guide

  3. Bitpanda

    €0.37 more than OKX

    You get

    575.1638 ENA

    Costs

    €1.47 1.47%

    Go to Bitpanda (opens in a new tab)
    Cost breakdown
    Payment fee
    €0.00
    Trading fee
    €1.49
    App markup (0.00%)
    €0.00
    Price difference and order book
    -€0.02
    Total
    €1.47

    You effectively pay €0.17 per ENA. Market data from . Bitpanda publishes no markup on top of its fee, so we add none (source: Bitpanda Cost Transparency v4.0.0 (opens in a new tab): vast tarief op de eigen koers ("Offer Price"), geen aparte spread gepubliceerd, 8 July 2026). Read our Bitpanda fee guide

  4. Bitstamp

    €0.73 more than OKX

    You get

    573.0476 ENA

    Costs

    €1.83 1.83%

    Go to Bitstamp (opens in a new tab)
    Cost breakdown
    Payment fee
    €0.00
    Trading fee
    €0.00
    App markup (1.80%)
    €1.77
    Price difference and order book
    €0.06
    Total
    €1.83

    You effectively pay €0.17 per ENA. Market data from . The app markup is published by Bitstamp (source: Bitstamp fee schedule (geldig vanaf 15-10-2026) (opens in a new tab): Basic spread 1,8%, stablecoins 0,5%, bij volatiliteit tot 0,5% extra, 15 October 2026). Read our Bitstamp fee guide

Not in this comparison

  • Kraken: On its trading screen (Kraken Pro) you get 578.7631 ENA, with a 0.80% trading fee (€0.85 in costs overall). The regular buy button charges a 1.00% fee plus a markup Kraken does not publish.

    Go to Kraken (opens in a new tab)

  • Coinbase: This platform does not publish its app fees or markup (you only see them at checkout), so we cannot rank it fairly.
  • Crypto.com: This platform charges a 0.80% fee in its app plus a markup it does not publish, so we cannot rank it fairly.

Bitpanda: based on the platform’s public price plus its published fee. Any extra markup in the app is not published by the platform.

All results are estimates based on public market data and the fees the platforms publish. They are not financial or tax advice. How we compare

Ethena price

ENA in US dollars · CoinGecko

as of 21:09 CEST

$0.1924

Up 3.54% past 24 hours

Currency
Period

Ethena, past 24 hours: from $0.1858 to $0.1924 (up 3.54%). High $0.2021, low $0.1849.

Average price across exchanges. Data provided by CoinGecko (opens in a new tab). Past prices say nothing about future prices.

Show as table
Ethena price, past 24 hours
TimePrice
Mon 21:10$0.1858
Tue 00:35$0.1898
Tue 03:55$0.1891
Tue 07:25$0.1885
Tue 11:00$0.1859
Tue 14:25$0.1889
Tue 17:55$0.1895
Tue 21:09$0.1924

Live

Ethena price per platform

Price of 1 ENA per platform at 21:09 CEST
PlatformPrice per ENA
Bitstamp€0.17
Bitpandapublic price€0.17
OKX€0.17
Bybit EU€0.17
Kraken€0.17

Mid-market price before fees, at 21:09 CEST. What you actually pay depends on the fees: you can see those in the comparison above.

Background

What is Ethena?

By PlatformCrypto.eu editorial team · checked on

Ethena (opens in a new tab) issues USDe, which it describes as a synthetic dollar rather than a fiat-backed stablecoin. Its value is meant to stay near one US dollar, but Ethena's own documentation warns that its risks differ from those of coins like USDC, because the backing consists of crypto assets paired with short futures positions. ENA, the token on this page, is the protocol's governance token, and nothing ties its price to the dollar.

The backing works through hedging. When the reserves hold a volatile asset, such as bitcoin, Ethena opens a short futures or perpetual position of about the same size, so a fall in that asset is roughly cancelled out by a gain on the short. Income comes from the funding payments on those positions, from lending and from tokenised real-world assets. Only approved market makers that pass KYC checks can mint or redeem USDe directly with Ethena; everyone else has to buy or sell it on the market, for example in trading pools.

Europe proved a hard market for USDe. Ethena GmbH in Frankfurt had issued the token under a MiCA transitional rule and applied to BaFin for authorisation in July 2024. BaFin regarded USDe as an asset-referenced token, found serious shortcomings in how the company was organised, and imposed measures on 21 March 2025. Ethena GmbH withdrew its application on 3 April, received a coercive fine of EUR 600,000 the next day and was ordered on 14 April to wind up its USDe business. Holders could redeem with the German company until 6 August 2025, for USDC only; claims after that date go to Ethena (BVI) Limited.

ENA has a separate story. Its total supply stands at 15 billion, and holders elect the Risk Committee that sets limits on USDe's reserves. In our comparison, ENA has a euro market on Kraken, Bitpanda, OKX, Bybit EU and Bitstamp, and it is an ERC-20 token on Ethereum. If you were looking for a dollar stablecoin, our stablecoin overview explains why only USDC and EURC make the cut, and the MiCA-licensed exchanges page covers who may sell you crypto.

ENA gives you a vote, not a share of Ethena's income, and a sharp fall in its euro price can come quickly.

Official website: ethena.fi (opens in a new tab)

Networks

Which network is Ethena on?

Ethena does not run its own blockchain: ENA is a token on Ethereum, using the ERC-20 standard. Fees on that network are paid in ETH, so a wallet holding only ENA cannot move it.

Withdrawing to your own wallet

The networks each platform lets you withdraw this coin on. Pick one that your wallet supports as well.

PlatformNetwork
KrakenEthereum
BitpandaEthereum
OKXNot published
Bybit EUNot published
BitstampEthereum

Taken from the platforms' public lists on 16 October 2026. Check the platform's app before you withdraw, as a network can be paused at short notice.

Keep your ENA in your own wallet

These wallets hold ENA themselves. Buy on a platform first, then move your ENA to the wallet over a network both of them support.

In four steps

How to buy Ethena

  1. Choose a platform

    At the top you can see where your amount buys the most ENA, with every fee included.

  2. Open an account

    Sign up and verify your identity. Licensed platforms are required to check who you are; it usually takes a few minutes.

  3. Add euros

    For example by SEPA bank transfer or by card. Check the deposit fee on the platform first: it differs per method.

  4. Buy ENA

    Enter the amount and confirm. Before you do, check the fee and the price the platform shows you.

Questions about Ethena

How much is 1 Ethena worth right now?

On 20 October 2026 at 21:09 CEST, 1 ENA was worth €0.17 on average: the median mid-market price on 4 platforms. The price changes all the time, and what you pay on a platform also depends on its fees.

Does buying ENA give me any USDe?

No. They are separate tokens. USDe is designed to stay close to one US dollar, while ENA has no peg at all: its price is whatever buyers and sellers agree on. According to the ENA white paper, holding the token gives you no claim on the assets, profits or revenues of any company linked to Ethena, so it is no claim on the reserves behind USDe either.

How many ENA tokens are there?

The white paper puts total supply at 15 billion, created at the token generation event on 5 March 2024, and leaves room for an increase of up to 10% of the existing supply per year. Ethena's documentation divides the 15 billion into 30% for core contributors, 25% for investors, 15% for the Ethena Foundation and 30% for ecosystem development and airdrops. Contributors and investors received nothing until a one-year cliff, when 25% of their share unlocked; the remainder vests monthly over three years.

Is there a MiCA white paper for ENA?

Yes. ESMA's interim MiCA register lists one white paper for ENA, submitted by Ethena OpCo Ltd., a company in the British Virgin Islands, with the Central Bank of Ireland as the competent authority (register checked on 20 October 2026). It was drawn up for admission to trading across the EU and the wider EEA. The document itself states that no supervisor has approved it, and its presence in the register is no guide to how the price of ENA will move.

Can I buy USDe or sUSDe in the EU?

Not through our comparison, which only covers stablecoins whose issuer is authorised under MiCA to issue e-money tokens: USDC and EURC. In April 2025, BaFin stated that secondary-market trading in USDe was no longer permitted in the EU, after the German issuer had withdrawn its application. Ethena's own documentation says sUSDe, the staked version, is not offered to anyone resident or registered in the EU or EEA.

What does the ENA fee switch do?

ENA holders approved it in a vote that closed in early September 2026. A share of protocol revenue, rising in steps, is to be spent on buying back ENA, but only once the amount of USDe in circulation passes set milestones; the first had not been reached when the vote was held. The money goes into purchases of ENA, not payments to holders, and the proposal sets aside nothing extra for staked ENA (sENA).

What can ENA holders vote on?

Ethena's documentation lists the mix of assets backing USDe, new backing strategies, how future protocol revenue is allocated, and who sits on the Risk Committee and what it may decide. Proposals are discussed on the governance forum before ENA holders vote. The Risk Committee then sets the risk limits, for example which assets qualify as backing and how much exposure to a single counterparty is acceptable.

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