Ethena price prediction: Can ENA break its ATH?

July 2025 has been a great month for $ENA — the token is up more than 80% in just a few weeks. But the big question now is: will Ethena keep going up, or is a pullback coming later this year? And what about the long-term — is $ENA just riding the hype, or does it actually have staying power?

Oh, and if you’re still wondering what exactly $ENA is in the first place — don’t worry, we’ve got that covered too. Let’s break it all down in our Ethena price prediction.

What is Ethena?

Ethena is one of the hottest projects in crypto right now, aiming to shake up stablecoins with a fully on-chain, decentralized approach. Its main product, $USDe, is a synthetic dollar that doesn’t rely on traditional cash reserves. Instead, it uses a clever strategy — balancing long spot positions with short futures — to keep its $1 peg without banks or middlemen. There’s also sUSDe, a version that earns yield through smart trading in derivatives markets.

The governance token, Ethena ($ENA), lets holders vote on changes and earn rewards.

But it’s not risk-free. $USDe’s stability depends on smooth derivatives markets and enough liquidity. Big shocks, like funding rate crashes or wild volatility, could throw things off balance. It’s a fresh, experimental idea, so while promising, it’s still unproven in the long run. Overall, Ethena offers a cool glimpse at what a decentralized “internet dollar” could be — exciting, but definitely not without risk.

Is Ethena a good investment? Let’s take a look at the Ethena crypto price prediction and decide.

Ethena coin price prediction: general outlook

As of July 24, $ENA is sitting at around $0.49, according to crypto.news. It’s had a solid run lately — up 7.3% in just 24 hours, 28.4% over the past week, and a whopping 83.3% this past month. On July 21, the price even spiked to $0.58, the highest it’s been since March.

Sure, it’s still a long way from its all-time high of $1.52 back in April 2024, but that recent growth definitely got people’s attention.

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$ENA 1-day chart, July 2025 | Source: crypto.news

What’s behind the pump? Hard to say for sure, but a few things may have played a role:

• $ENA was listed on Upbit — South Korea’s biggest exchange — on July 11, which probably brought in new buyers.

• There’s also talk of big players (whales) accumulating $ENA, plus more money flowing into the ecosystem in general.

• On top of that, a company called StablecoinX recently announced plans to become the first publicly traded firm to hold Ethena as part of its treasury strategy.

• And let’s not forget — Bitcoin (BTC) hit $123K this month, which likely lifted the whole market.

With these factors in mind, let’s now take a closer look at the Ethena price prediction for 2025 to see what analysts are expecting next.

Ethena price prediction 2025

According to CoinCodex’s Ethena price forecast, $ENA might be in for a bit of a dip — they’re expecting it could drop over 25%, possibly hitting around $0.36 by August 22. But it’s not all doom and gloom; over the year, the token could bounce anywhere between $0.33 and $1.36, so there’s still some room for upside.

As of July 24, the overall $ENA price prediction is looking pretty positive. Out of 26 technical indicators tracked by CoinCodex, 22 are flashing bullish signals, while only 4 are showing bearish signs.

On the more optimistic side, DigitalCoinPrice’s Ethena price prediction for 2025 expects $ENA to break past its all-time high and trade between $1.03 and $1.08 sometime soon.

Wallet Investor’s outlook for $ENA is a bit more cautious. Their forecast puts the average price around $0.345 by the end of 2025, with a wide range—from a possible low of just $0.0129 up to a high of $0.677.

So, opinions differ quite a bit — but it’s clear $ENA’s future could be an interesting ride. Will Ethena go up or down in five years?

Ethena price prediction 2030

According to CoinCodex’s expectations for $ENA, the token could be trading anywhere between $0.63 and $1.45 by 2030 — not bad at all.

Wallet Investor paints a way gloomier picture, with a potential peak of just $0.00618 in July 2030 and a low that dips even further to around $0.00206.

DigitalCoinPrice’s projections for $ENA are way more optimistic, expecting it to climb to somewhere between $2.32 and $2.67 by the end of the decade.

Should you invest in Ethena? The project’s got a lot going for it and some serious upside, but the price predictions are all over the place. If you’re cool with a bit of risk and like the idea of a new take on stablecoins, $ENA might be worth a shot. But if you’re more into playing it safe, it could be smart to hang back and watch how things develop first.