Market history dossier
Ethena Market History
ENAUSDT
Ethena (ENA) market history: price since 2024-04-02, all-time high and drawdowns, deleveraging events, funding rate history and ROI calculator.
- Last close
- 0.0806 as of 2026-07-31
- From ATH
- -97.30%
- All-time high
- 3.00 2024-04-11
Market record
Performance history
Rolling returns
- 30 days
- +12.89%
- 90 days
- -21.44%
- YTD
- -59.64%
- 1 year
- -85.85%
- 3 years
- n/a
Calendar-year record
| Year | Open | High | Low | Close | Return | Days |
|---|---|---|---|---|---|---|
| 2024 (partial) | 0.3000 | 3.00 | 0.1940 | 0.9093 | +203.10% | 274 |
| 2025 | 0.9093 | 1.31 | 0.1264 | 0.1997 | -78.04% | 365 |
| 2026 (partial) | 0.1998 | 0.2633 | 0.0700 | 0.0806 | -59.66% | 212 |
Monthly seasonality
Monthly returns across the complete market record.
View as table
| Month | Return |
|---|---|
| 2024-04 | +171.00% |
| 2024-05 | +7.86% |
| 2024-06 | -39.36% |
| 2024-07 | -25.14% |
| 2024-08 | -40.50% |
| 2024-09 | +54.12% |
| 2024-10 | -1.09% |
| 2024-11 | +132.64% |
| 2024-12 | +7.75% |
| 2025-01 | -15.91% |
| 2025-02 | -45.85% |
| 2025-03 | -16.94% |
| 2025-04 | -6.98% |
| 2025-05 | -4.38% |
| 2025-06 | -12.88% |
| 2025-07 | +113.62% |
| 2025-08 | +12.36% |
| 2025-09 | -12.63% |
| 2025-10 | -29.92% |
| 2025-11 | -33.94% |
| 2025-12 | -22.87% |
| 2026-01 | -30.63% |
| 2026-02 | -24.82% |
| 2026-03 | -12.67% |
| 2026-04 | +12.98% |
| 2026-05 | -14.31% |
| 2026-06 | -18.10% |
| 2026-07 | +11.02% |
Risk record
- Green days
- 44.40% 378 of 851
- Best day
- +158.33% 2024-04-02
- Worst day
- -23.54% 2025-03-03
- Daily volatility
- 8.86% std dev of daily returns
Biggest run
| Trough to peak | Gain | Days to peak | Total days |
|---|---|---|---|
| 2024-09-06 → 2025-01-05 | +515.90% | 121 | 467 |
Deepest drawdowns
| Peak to trough | Depth | Days to trough | Total days | Recovered |
|---|---|---|---|---|
| 2024-04-10 → 2026-07-01 | -95.10% | 812 | 843 | ongoing |
Research index
- All-time high & drawdowns -95.10% max ATH 3.00 on 2024-04-11 Every major drawdown episode
- Deleveraging events 59 latest 2026-07-27 Liquidation-style event history
- Funding rate -15.15% negative 51.00% of days Full funding history
ROI calculator
if I bought ENA in ...
Frequently asked questions
What is Ethena's all-time high?
Ethena's all-time high is $3.00, reached on 2024-04-11. As of 2026-07-31 it trades -97.3% below that peak.
What was Ethena's lowest price ever?
Ethena's lowest price ever was $0.07, reached on 2026-06-10.
When did Ethena start trading?
Ethena started trading on 2024-04-02 and has 851 days on record.
What was Ethena's best year?
Ethena's best full year was 2025, with a -78.0% return. Its worst full year was 2025, with a -78.0% return.
What was Ethena's biggest crash?
Ethena's deepest drawdown was -95.1%, from 2024-04-10 to its trough on 2026-07-01. The episode lasted 843 days. It is ongoing.
Does Ethena have negative funding rates?
Ethena had negative funding rates on 51.0% of days, with an average annualized funding rate of -15.2%.
How many deleveraging events has Ethena had?
Ethena has had 59 deleveraging events on record.
Blind chart-reading practice: train on unlabelled market history in the K-line trainer.
Ethena history timeline
Draft — pending editorial review
- 2024-04-01 Shard Campaign concludes ecosystem
Ethena's six-week Shard Campaign ended, determining eligibility for the initial ENA distribution.
- 2024-04-02 ENA token launches protocol
ENA launched as the Ethena protocol's governance token with an initial circulating supply of 1.425 billion tokens.
- 2024-04-02 Initial ENA distribution opens ecosystem
Eligible users could claim 750 million ENA, equal to 5% of the total token supply.
- 2024-04-02 Sats Campaign begins ecosystem
The second rewards season began immediately after the ENA launch and incorporated BTC-related activity.
- 2024-05-03 ENA locking boost goes live protocol
The protocol enabled users to lock ENA for scaled reward boosts tied to eligible USDe positions.
- 2024-08-01 Protocol governance begins protocol
Ethena introduced protocol governance and established a risk committee process for evaluating protocol parameters.
- 2024-08-05 ENA joins global crypto selloff market
ENA declined during a broad risk-asset selloff associated with yen carry-trade unwinding and global equity weakness.
- 2024-09-01 Season 2 ENA distribution starts ecosystem
The Season 2 distribution allocated 5% of total ENA supply, with vesting applied to specified high-allocation wallets.
- 2024-09-02 Season 2 ends and Season 3 begins ecosystem
Sats Campaign rewards ended and Season 3 points began accruing on the same date.
- 2024-11-01 ENA fee-switch proposal accepted protocol
Governance accepted a proposal establishing conditions for activating an ENA fee switch after defined protocol metrics were met.
- 2025-03-23 Season 3 rewards period ends ecosystem
The six-month Season 3 campaign reached its scheduled conclusion.
- 2025-05-01 Season 3 distribution occurs ecosystem
A Season 3 distribution allocated 3.5% of total ENA supply to eligible participants.
- 2025-12-03 21Shares Ethena ETP launches market
The 21Shares Ethena ETP began providing exchange-traded exposure to ENA.
Methodology and coverage
Price history uses a canonical spot series aggregated across major exchanges, with per-row source provenance; yearly and monthly returns compare last close to first open of each period. Drawdowns are measured close-to-close while all-time highs/lows use intraday extremes. The biggest run figure is the largest qualifying trough-to-peak gain since 90 days after this asset's first reliable price record - it reflects the single largest rise on record, not a repeatable cycle, and excludes runs built on sparse or unconfirmed price data. Derivatives metrics use Binance USDⓈ-M perpetual records; deleveraging events are identified from abnormal open-interest contractions under price stress, ranked by a proprietary composite.
Price figures use the canonical spot series; derivatives figures use Binance USD-M perpetual records. See each linked page for its own methodology note.
- First observation
- 2024-04-02
- Latest update
- 2026-07-31
- On record
- 851 days
- Market symbol
- ENAUSDT
Read the site-wide data methodology.