How to Buy and Trade Ethena (ENA): A Step-by-Step Guide - Trendingknowledgelive

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How to Buy and Trade Ethena (ENA): A Step-by-Step Guide

 How to Buy and Trade Ethena (ENA): A Step-by-Step Guide

How to Buy and Trade Ethena (ENA)
Ethena (ENA)


Are you interested in buying and trading Ethena (ENA), the cryptocurrency making waves in the Ethereum ecosystem? Here's a detailed guide on where and how to get your hands on ENA tokens:

 

Step 1: Choose a Centralized Exchange

ENA tokens can be bought and traded on various centralized cryptocurrency exchanges. Among the most popular options are:


 1. Bybit:

Bybit is a well-known exchange where you can buy and trade Ethena. The ENA/USDT trading pair on Bybit boasts a staggering trading volume of $180,684,120 in the last 24 hours, making it a preferred choice for many traders.


 2. Gate.io:

Gate.io is another reputable exchange that supports ENA trading. While it may not have the same trading volume as Bybit, it still offers a reliable platform for purchasing and trading Ethena tokens.


 3. BitMart:

BitMart is yet another option for those looking to buy and trade ENA tokens. While its trading volume may vary, it provides a convenient platform for accessing Ethena and other cryptocurrencies.


 Step 2: Check the Daily Trading Volume

Before making any transactions, it's essential to consider the daily trading volume of Ethena (ENA) to gauge market activity. As of now, the trading volume of ENA is an impressive $2,155,284,196 in the last 24 hours, indicating a significant increase in market activity.


 Step 3: Monitor All-Time Highs and Lows

Keep an eye on the all-time highs and lows of Ethena (ENA) to make informed decisions:


 All-Time High:

The highest price ever paid for ENA was $0.8896, recorded on Apr 02, 2024, approximately 6 hours ago. While the current price is 14.36% lower than the all-time high, this data provides valuable insight into the token's potential.


 All-Time Low:

Conversely, the lowest price ever paid for ENA was $0.5324, also recorded on Apr 02, 2024, approximately 17 hours ago. Despite the current price being 43.11% higher than the all-time low, understanding these fluctuations can help in making strategic investment choices.


 Step 4: Assess Market Cap and Fully Diluted Valuation

Understanding the market cap and fully diluted valuation of Ethena (ENA) provides a broader perspective on its value:


 Market Cap:

As of now, the market capitalization of ENA is $1,064,384,907, ranking it #103 on CoinGecko. This metric is calculated by multiplying the token price by the circulating supply of ENA tokens, which currently stands at 1.4 billion tokens.


 Fully Diluted Valuation (FDV):

The fully diluted valuation of ENA is $11,204,051,652, assuming a total of 15 billion ETH tokens are in circulation. This statistical representation offers insight into the token's potential growth trajectory.


 Step 5: Compare Price Performance

Evaluate how Ethena's price performance stacks up against its peers:


Despite a 0.00% increase in the last 7 days, Ethena (ENA) is outperforming the global cryptocurrency market, which is down by -6.10%. However, it falls short when compared to similar Ethereum Ecosystem cryptocurrencies, which are up by 12.70%.


Step 6: Add ENA to MetaMask

To manage your ENA tokens conveniently, consider adding them to MetaMask:


 How to Add ENA to MetaMask:

- Copy ENA's contract address: 0x57e114b691db790c35207b2e685d4a43181e6061.

- Import the address manually into MetaMask or use CoinGecko's one-click option if you've installed MetaMask's Chrome extension.


By following these steps, you can easily buy, trade, and manage your Ethena (ENA) tokens, leveraging the potential of this promising cryptocurrency within the Ethereum ecosystem.


Ethena Markets Overview


Here's a comprehensive breakdown of the current market situation for Ethena (ENA) across various exchanges:


1. Binance

   - **Pair:** ENA/USDT

   - **Price:** $0.805

   - **Spread:** 0.13%

   - **+2% Depth:** $1,648,868

   - **-2% Depth:** $890,400

   - **24h Volume:** $1,128,525,659

   - **Volume %:** 52.77%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


2. Gate.io

   - **Pair:** ENA/USDT

   - **Price:** $0.8059

   - **Spread:** 0.07%

   - **+2% Depth:** $1,084,838

   - **-2% Depth:** $793,362

   - **24h Volume:** $316,397,379

   - **Volume %:** 14.8%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


3. Bybit

   - **Pair:** ENA/USDT

   - **Price:** $0.8136

   - **Spread:** 0.21%

   - **+2% Depth:** $204,848

   - **-2% Depth:** $219,672

   - **24h Volume:** $181,902,910

   - **Volume %:** 8.51%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


4. KuCoin

   - **Pair:** ENA/USDT

   - **Price:** $0.8032

   - **Spread:** 0.13%

   - **+2% Depth:** $170,586

   - **-2% Depth:** $169,593

   - **24h Volume:** $65,766,684

   - **Volume %:** 3.08%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


5. HTX

   - **Pair:** ENA/USDT

   - **Price:** $0.8021

   - **Spread:** 0.1%

   - **+2% Depth:** $168,911

   - **-2% Depth:** $32,034

   - **24h Volume:** $50,220,649

   - **Volume %:** 2.35%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


6. BitMart

   - **Pair:** ENA/USDT

   - **Price:** $0.8101

   - **Spread:** 0.36%

   - **+2% Depth:** $88,430

   - **-2% Depth:** $84,093

   - **24h Volume:** $144,002,224

   - **Volume %:** 6.73%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


7. MEXC

   - **Pair:** ENA/USDT

   - **Price:** $0.7897

   - **Spread:** 0.37%

   - **+2% Depth:** $700,398

   - **-2% Depth:** $792,720

   - **24h Volume:** $12,849,885

   - **Volume %:** 0.6%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


8. Binance

   - **Pair:** ENA/BTC

   - **Price:** $0.7785

   - **Spread:** 0.08%

   - **+2% Depth:** $36,758

   - **-2% Depth:** $41,986

   - **24h Volume:** $23,177,311

   - **Volume %:** 1.08%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


9. Bitget

   - **Pair:** ENA/USDT

   - **Price:** $0.8045

   - **Spread:** 0.13%

   - **+2% Depth:** $112,392

   - **-2% Depth:** $113,982

   - **24h Volume:** $12,905,640

   - **Volume %:** 0.6%

   - **Last Updated:** Recently

   - **Trust Score:** CEX


10. Uniswap V3 (Ethereum)

    - **Pair:** ENA/WETH

    - **Price:** $0.7945

    - **Spread:** 0.6%

    - **+2% Depth:** $91,420

    - **-2% Depth:** $91,146

    - **24h Volume:** $36,923,459

    - **Volume %:** 1.73%

    - **Last Updated:** Recently

    - **Trust Score:** DEX


These market insights provide valuable information for traders and investors interested in Ethena (ENA), allowing them to make informed decisions based on current market conditions and trends.

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