What is the difference between Ethena and USDS?

Ethena (ENA) and USDS (USDS) are both cryptocurrencies with different market capitalizations. USDS has approximately 5.4x the market cap. Compare their prices, volumes, and market performance.

Which has a higher market cap: Ethena or USDS?

USDS has a higher market capitalization at $9.81B compared to Ethena at $1.81B. Market cap represents the total value of all circulating coins.

What would Ethena price be if it had USDS market cap?

If Ethena reached the market cap of USDS, its price would be approximately $0.9720, representing a 5.41x. This assumes constant circulating supply.

What is circulating supply?

Circulating supply is the number of coins or tokens that are currently available and circulating in the market. It excludes coins that are locked, reserved, or not yet released. This is different from total supply and max supply. Circulating supply is used to calculate market cap: Price × Circulating Supply = Market Cap.

What is the difference between circulating supply and maximum supply for Ethena and USDS?

Ethena has a circulating supply of 10,095,312,500 coins, while USDS has 9,815,048,384 coins. Circulating supply is the amount currently available and trading in the market. Maximum supply is the total number that will ever exist. A lower supply with high demand can lead to higher prices, while higher supply means more coins are available for trading.

What is Ethena's market cap?

The market cap of Ethena is currently $1.81B. Market cap is calculated by multiplying the current price ($0.18) by the circulating supply (10,095,312,500 ENA).

What is USDS's market cap?

The market cap of USDS is currently $9.81B. Market cap is calculated by multiplying the current price ($1.00) by the circulating supply (9,815,048,384 USDS).

What is Ethena's all-time high (ATH)?

The all-time high of Ethena is currently $1.52. This means ENA is currently 88.2% below its peak price. The ATH represents the highest price ever recorded for this cryptocurrency.

What is USDS's all-time high (ATH)?

The all-time high of USDS is currently $1.06. This means USDS is currently 5.4% below its peak price. The ATH represents the highest price ever recorded for this cryptocurrency.

What is 24-hour trading volume?

24-hour trading volume represents the total value of all trades executed in the past 24 hours. ENA has a 24h volume of $729.41M, while USDS has $107.62M. Higher volume indicates more liquidity and typically easier buying/selling with less price impact.

What does market cap rank mean?

Market cap rank shows a cryptocurrency's position relative to all other cryptocurrencies. ENA is ranked #49 and USDS is ranked #14. Rank #1 means the largest market cap in the crypto market. This ranking changes constantly as prices fluctuate.

How much would Ethena be worth if it had USDS's market cap?

If Ethena had USDS's market cap, its price would be approximately $0.9720. This represents a 5.41x from its current price. This projection helps visualize the valuation gap between the two cryptocurrencies based on current market conditions.

Calculate the price of Ethena with the market cap of USDS

Select two assets — we recalculate what the first would cost if it matched the second's total market value.

Coin A

Coin B

Ethena price with the market cap of USDS

$0.9720 (5.41x)

If Ethena had USDS's market cap, its price would sit 441.2% above today's — a 5.41x move from the current price.

ENA mcap #49 $1.81B

USDS mcap #14 $9.81B

Holdings

ENA

At a glance

Market cap and pricing appear reasonably aligned

	EthenaENA	USDS
Spot price	$0.1796	$0.9997
Market cap	$1.81B	$9.81B
Fully diluted valuation	$2.69B	$9.82B
Global rank	#49	#14
24h high	$0.1886	$0.9999
24h low	$0.1619	$0.9995
24h volume	$729.41M	$107.62M
Volume / market cap	+40.23%	+1.10%

Performance, extremes & supply

Coin A showing stronger short-term momentum

	EthenaENA	USDS
24h change	+9.82%	+0.00%
7d change	+11.80%	+0.00%
30d change	+91.80%	+0.00%
All-time high	$1.52	$1.06
From ATH	-88.17%	-5.45%
All-time low	$0.0702	$0.9483
Circulating supply	10,095,312,500 ENA	9,815,048,384 USDS
Total supply	15,000,000,000 ENA	9,818,923,693 USDS
Max supply	15,000,000,000 ENA	Unlimited

Sentiment & social reach

Crowd signals, watchlist traction, and audience scale across public channels.

	EthenaENA	USDS
Bullish sentiment	+100.00%	+0.00%
Watchlist users	$113.76K	$21.81K
Reddit subscribers	$0.00	$0.00
Telegram users	$0.00	$0.00

Frequently asked questions

Answers about these assets and how the comparison is calculated.

What is Ethena?

Ethena (ENA) is a cryptocurrency that operates on blockchain technology. It can be used for peer-to-peer transactions, investments, and various decentralized applications depending on its specific features and use cases.

What is USDS?

USDS (USDS) is a cryptocurrency that operates on blockchain technology. It can be used for peer-to-peer transactions, investments, and various decentralized applications depending on its specific features and use cases.

What makes Ethena different from USDS?

Ethena (ENA) and USDS (USDS) are different cryptocurrencies with distinct use cases, technical implementations, and market positions. They may differ in consensus mechanisms, transaction speeds, supply models, and ecosystem development. Compare their market caps, trading volumes, and historical performance to understand their relative positions in the crypto market.

Should I buy ENA or USDS?

This comparison tool helps you understand the market valuations, but it does not constitute financial advice. Both cryptocurrencies have different use cases, risk profiles, and market positions. Do your own research, understand the technology, and consider your risk tolerance before investing. Past performance does not guarantee future results.

Where can I buy Ethena and USDS?

Both Ethena and USDS can be purchased on most major cryptocurrency exchanges including Coinbase, Binance, Kraken, and others. You will need to create an account, verify your identity, deposit funds, and then trade for the cryptocurrency you want.

How does Ethena work?

Ethena operates on blockchain technology using a consensus mechanism to validate transactions. The specific technical details depend on whether it uses Proof of Work, Proof of Stake, or another consensus algorithm. Transactions are recorded on a distributed ledger maintained by network nodes.

How does USDS work?

USDS operates on blockchain technology using a consensus mechanism to validate transactions. The specific technical details depend on whether it uses Proof of Work, Proof of Stake, or another consensus algorithm. Transactions are recorded on a distributed ledger maintained by network nodes.