Ethena Market Cap Calculator
Calculate Ethena (ENA) market cap from the live ENA price and circulating supply — plus FDV, and the price ENA would need to reach any target valuation.
Result
Enter values to see the result.
Using the Ethena Market Cap Calculator
Market cap is simply the live ENA price multiplied by the number of coins in circulation, and this page does that with the current price loaded for you. The supply field starts at roughly 9.83 billion ENA, which is where it stood on 4 September 2026 — supply moves, so check it against a market data source if you need an exact figure, and edit the field.
Ethena's supply is bounded at 15 billion ENA, so the fully diluted valuation is a real ceiling rather than an open-ended one. The MC/FDV row shows how much of that supply is already trading: the closer it is to 100%, the less future dilution is waiting for you, and for ENA that gap is currently 66%.
The comparison field answers the question people actually come here for: what would ENA be worth at some other valuation? Enter a target market cap and the calculator returns the implied ENA price and the multiple from here. It is arithmetic, not a forecast — reaching a larger cap means absorbing every holder willing to sell on the way, and eNA is a high-beta DeFi token that has fallen sharply from its 2024 high, and it reprices hard around token-unlock dates and shifts in perpetual funding rates — the engine behind USDe's yield.
The ENA price behind each market cap
- Circulating supply
- 9.83B ENA
- Share issued
- 66%
- $10B cap →
- $1.02
- $100B cap →
- $10.17
ENA's circulating supply is about 9.83B (as of 4 Sep 2026), 66% of a 15.0B total. Market cap is only price × supply, so a target valuation pins one exact price — no guesswork.
A $1 billion cap would put ENA at $0.1017, a $10 billion cap at $1.02, and a $100 billion cap at $10.17. On the fully diluted 15.0B supply those prices are lower, because 5.17B ENA is still to be issued — the FDV block above works that denominator in.
Figures are derived from ENA's own daily closes over the window shown and are bounded by it — not all-time values. Prices move; treat them as context, not a forecast.
Ethena at a glance
- Launched
- April 2024 (ENA airdrop)
- Token type
- ERC-20 on Ethereum
- Max supply
- 15,000,000,000 ENA
- Role
- Governance of Ethena, the protocol behind the USDe synthetic dollar
- Native staking
- Yes — ENA can be staked (sENA) for protocol rewards
- Unlocks
- Large team, investor and foundation allocations vest over several years
Frequently asked questions
- What is Ethena's market cap?
- Multiply the live ENA price by the circulating supply — around 9.83 billion ENA as of 4 September 2026. The calculator above loads the current price and does this for you; the result updates the moment you change either field.
- How do I calculate the ENA price at a given market cap?
- Divide the target market cap by the circulating supply. The comparison field above does it directly and also shows the multiple against today's ENA price, which is usually the more sobering number.
- What is Ethena's fully diluted valuation?
- FDV prices all 15 billion ENA at the current price, including coins not yet circulating. The difference between FDV and market cap is the supply still to enter the market — worth knowing before you treat market cap as the whole picture.
- How do you calculate crypto market cap?
- Market cap = current price × circulating supply. A coin at $2 with 500 million coins in circulation has a $1 billion market cap. Note that it is circulating supply, not total supply — tokens still locked in vesting contracts or a treasury are excluded.
- What is the difference between market cap and FDV?
- Market cap uses only the coins in circulation today. Fully diluted valuation (FDV) prices every coin that will ever exist, including locked and unminted supply. A project with a $200M market cap but a $2B FDV has 90% of its supply still to hit the market.
More ENA calculators
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Work out your weighted average Ethena (ENA) entry price across multiple buys — and see exactly where your break-even sits.
Find the exact Ethena (ENA) price that liquidates your leveraged position. Prefilled with the live ENA price — set your leverage and direction.
Crypto Market Cap Calculator for other coins
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Prefer the generic version without ENA presets? Open the Crypto Market Cap Calculator.
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For educational purposes only. Rates, fees and protocol parameters change — verify current figures with your exchange or validator before acting. Not financial advice.