Ethena (ENA) is a crypto-native synthetic dollar protocol built on Ethereum, independent from traditional banking infrastructure. It also provides a globally accessible, dollar-denominated savings instrument called the "Internet Bond."
ENA, which declined by 6.21% over the last 24 hours and at the time of writing, is among today's top losing assets.
The recent decline may be a retracement following ENA's earlier rise triggered by Ethena's announced deal and $260 million buyback plan.
