The real-time (live) price of Ethena to INR is 40 (ENA/INR) today. This is a price change of -9.62% in the last 24 hours. Ethena market cap at the current level is 73.17G INR, with a 24 hours trading volume of 29,906ENA. It has a circulating supply of 1.81G INR.
Ethena is a financial protocol built on Ethereum that provides a crypto-native solution independent of traditional banking through its synthetic dollar, USDe. Ethena uses assets like ETH, stETH, BTC, and USDT to power this synthetic dollar and uses a delta-hedging mechanism to manage fluctuations in the backing assets.
ENA is Ethena's native token, used for governance. Its holders can also lock it to earn rewards through selected platforms. By nature, ENA is an ERC-20 token with a total supply of 15 Billion tokens. The allocation of this supply is as follows: founders (30%), investors (25%), reserves (15%), and ecosystem development (30%). In its early days, Ethena announced an impressive airdrop of 750 million to some specific participants to drive user engagement.
Ethena offers a new approach to stablecoin dynamics through its synthetic dollar, USDe. This product differs from fiat-backed stablecoins like USDT or USDC as it gets its value from Ethereum and Bitcoin-based crypto assets. USDe uses a delta-neutral strategy, which involves taking a long spot position on stETH (and BTC) and an equivalent short position simultaneously on ETH-PERP (and BTC-PERP). This strategy produces a net effect of both positions offsetting one another, helping USDe to theoretically maintain a 1:1 peg with its backed assets when they fluctuate. This strategy also helps Ethena generate yield at times.
Since USDe is less volatile than other cryptocurrencies, it has become a traditional banking-free alternative for everyday transactions and investments in the crypto space. Moreover, it also pays a yield to its holders while being censorship-resistant and decentralized like traditional fiat currencies and stablecoins. Since minting and maintaining USDe do not involve any over-collateralization, the issuers only have to pay the gas fees and other charges apart from collateral. In fact, if they choose to stake USDe holdings, they receive a portion of the protocol's generated yield.
The project supports its economy and operations through its native token, ENA. Ethena plans to use it to manage various frameworks, give community grants, maintain governance and create a reserve fund. The ENA token holders can use their ENA tokens to vote on project governance proposals. This includes decisions regarding risk management, DEX partnerships, collateral exposure, and more.
There are many platforms where you can invest and Buy Ethena (ENA) in India.
One such platform is Flitpay. To buy ENA in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.
After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy ENA and execute the purchase.
You can instantly convert your INR to ENA and ENA to INR and withdraw your INR through bank transfers whenever you want.
Flitpay also keeps introducing timely rewards for its users.
Buying and converting ENA directly on Flitpay is a task of a few clicks using the Flitpay OTC platform. If you have already made an Ethena (ENA) purchase on Flitpay and want it to convert into INR, all you need to do is; sell it on Flitpay, and you will receive the INR in return. If you have your Ethena holding in another exchange, you must deposit your crypto on Flitpay and then execute the selling process to convert ENA into INR.
To learn; how to deposit Ethena (ENA) or any other crypto from another platform, refer to the link.
You can easily withdraw your converted INR through the instant bank withdrawal service provided by Flitpay in a breeze.
ENA can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the ENA till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.
ENA is the native governance token of the Ethena Protocol. Its holders have power over the decisions regarding rewards, staking, collateral, and risks.
Ethena (ENA) offers a decentralized, crypto-native alternative to traditional banking with its synthetic dollar, USDe, backed by assets like ETH, stETH, and BTC. Utilizing a delta-hedging mechanism, USDe maintains stability and generates yield, making it a reliable and less volatile option for transactions and investments. ENA, the governance token, allows holders to vote on key decisions, participate in the platform's growth, and earn rewards by locking their tokens. With no over-collateralization required, users benefit from lower costs, decentralized control, and the ability to earn yield on their holdings.
Check out the current INR price of ENA crypto in India on Flitpay.
Flitpay is the best cryptocurrency exchange in India to buy ENA, buy Ethereum or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.
You can easily buy Ethena (ENA) in India on the safest crypto exchanges like Flitpay, with the lowest fees.
To buy Ethena (ENA) coin in India:
1. Register on Flitpay and create an account.
2. Verify your identity through Know-your-customer (KYC)
3. Add INR or Fiat currency, corresponding to the amount of Ethena you want to buy.
4. Instantly buy Ethena (ENA) with the deposited funds.
Flitpay crypto exchange stands out as the most reliable and secure platform to buy Ethena crypto and other cryptocurrencies in India. Here's why:
Yes, investing and trading ENA is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying ENA crypto. It offers real-time prices and advanced investing features.
You can seamlessly deposit ENA in India on Flitpay. The platform enables secure and fee-free deposits of various crypto currencies including ENA. Here, you can easily deposit ENA tokens and convert them into fiat such as INR. The converted INR can then be withdrawn easily to your bank account.
Flitpay facilitates hassle-free and Instant withdrawals of numerous cryptocurrencies like Ethena, Bitcoin, Ethereum with minimal or no fees.
Like ENA? You might also be interested in buying
Sign-up at the Flitpay and complete the KYC process. Our team will verify your documents as soon as possible.
Add INR funds to your Flitpay wallet using our instant UPI and bank deposit service. The minimum deposit limit is ₹100.
Choose the crypto coin or token you want to buy and initiate the order. Your order will execute instantly.