Ethena (ENA) | Tokenomics, Supply & Release Schedule

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Ethena

ENA

0x57e1…1e6061

Rank #72

DeFi ApplicationView all

Price

$0.103

Burn

--

Buyback

--

Dynamic

No

Claim

$1.15B

Raise Amount

$164.50M

Version 9

Updated: 27 Feb 2026

Version 9

Updated: 27 Feb 2026

Fundamentals

USD (Value)

Amount

Reported Market Cap

$843.98M

USD

Adjusted Market Cap

Tokenomist Metric

$782.47M

USD

Fully Diluted Value

Tokenomist Metric

$1.54B

USD

Float %

50.82%

Upcoming Unlocks

Emission

Breakdown by

Cliff Unlock

Linear Release

Deflation

Allocations

Group Allocations

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Allocation Name	% of Allocation	Total Amount (ENA)

3/4

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Metrics

ENA/USD

BTC/USD

Release Schedule

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Chart time is displayed in UTC+0

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Token Information

Last updated 02/28/26 00:36 AM

What is the Ethena token vesting schedule?

Ethena follows a vesting schedule with allocations to the Core Contributors, Ecosystem Development, Investors, Foundation and Binance Launchpool. Most allocations are released through a cliff mechanism. The full unlock schedule extends into 2028.

When is the next Ethena unlock?

The next unlock for Ethena is scheduled for March 2, 2026. Released to Core Contributors.

How much Ethena supply is currently unlocked?

As of today, approximately 8,225,000,000 Ethena which is 54.83% of Ethena's total supply has been unlocked. The remaining tokens are still locked and will be released according to the vesting schedule.

Is Ethena vesting cliff or linear?

Ethena uses cliff vesting, especially for Core Contributors allocations. This means tokens are released all at once after a set waiting period, creating a delayed but significant supply event.

What is the difference between Ethena circulating and total supply?

The circulating supply of Ethena is 8,225,000,000 tokens and the total supply is 15,000,000,000 tokens. The total supply is the max amount of tokens to ever be in circulation, including those that are still locked.

What is Ethena's FDV (Fully Diluted Valuation)?

Ethena’s FDV is $1,539,600,000 which reflects the market value if all 15,000,000,000 tokens were unlocked. This figure helps estimate long-term dilution risks.

How is Ethena allocated across stakeholders?

The Ethena allocation includes Investors at 25.00%, Foundation at 15.00%, Binance Launchpool at 2.00%, Core Contributors at 30.00% and Ecosystem Development at 28.00%.

Has Ethena price dropped after past unlocks?

Historically, Ethena has shown low volatility 7 days after the past unlock. The price impact depends on who receives the unlocked tokens and market conditions.

How can I track upcoming Ethena unlocks?

Tokenomist provides an up-to-date vesting chart and unlocks monitor that shows upcoming unlocks for Ethena, with visibility for each allocation and amount.

Tokenomist.ai provides a complete solution for supply-side tokenomics data. Analyze future token emissions, track vesting schedules, and compare standardized tokenomics and allocation across projects to gain actionable insights

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