• Ethena is currently trading at $0.2430 with a volume of $315 million and a market cap of $1.82 billion. 
• In the short-term analysis of the risks involved, there might be a possible fall to the level of $0.1802 in the month of December 2025.
• Long-term outlook shows ENA could reach $6.42 by 2031 amid staking and adoption.

Ethena (ENA) is trading at $0.2430, with a 24-hour volume of $315 million and a market cap of $1.82 billion. Its dominance remains 0.06%. ENA rose 2.84% in the last 24 hours, showing minor recovery amid broader market volatility and cautious investor sentiment.

Crypto analyst Gustavo Maldonado highlighted both optimism and caution among holders.  Currently, the price of ENA has support at $0.23 due to the pressure of the sale of the asset. This makes the short-term market condition of the asset fragile.

Ethena’s Fundamentals and Staking Appeal

Ethena, built on Ethereum, powers USDe, a decentralized synthetic dollar that operates without bank-backed reserves. Unlike USDC or USDT, USDe keeps its peg with a cash-and-carry arbitrage process. The decentralized system is attractive to investors who are looking for non-custodial stablecoins and want to get high staking rewards of more than 9%, thus increasing the appeal for a longer period of ​‍​‌‍​‍‌time.

However, the model has been raised as a possible concern that the Ethena model has not been proven under stressful market conditions. The ability of USDe to be stable at the yields achieved has been questioned.

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Long-Term Price Forecasts: 2025-2031

According to CoinCodex’s forecast, ENA could drop 25.75% to $0.1802 by December 24, 2025. This fluctuation might continue due to market sentiments.

The projected average of ENA at the end of 2025 could be approximately $0.64, while the low and high will be $0.20 and $0.82, respectively. During the year 2026, the projections will be the low of $0.90, the high of $1.10, and the average of about $0.93. The growth trend seems to be gradual.

In the year 2027, the price of Ethena might be estimated at an average of $1.35, while the projected range will be from $1.30 to $1.55. In the year 2028, the estimated price could be at its minimum of $1.98, maximum of $2.31, and might average at $2.03. 

For the year 2029, the possible price of ENA can be from $2.85 to $3.46, and the average price will be $2.95. In the year 2030, the estimated price of ENA can be from $4.26 to $5.00, and the average price will be $4.37. In 2031, ENA could reach a minimum of $6.24, a maximum of $7.38, and an average trading price of $6.42, reflecting optimistic long-term growth.

If​‍​‌‍​‍‌ a buying demand would significantly increase and ENA becomes attractive to altcoin investors ENA price could hit the $10 level in ​‍​‌‍​‍‌2032. The price projection of ENA from 2025-2031 captures the growth factors and challenges the investors face regarding whether the future of ENA will be a breakout point or a point of breakdown.

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