G.MARKETS
BTC$76,609.00-1.40%
LIVE
BTC$76,609.00▼ 1.40%ETH$2,110.22▼ 1.28%USDT$0.9989▼ 0.02%BNB$655.39▼ 0.29%XRP$1.35▼ 2.31%USDC$0.9997▲ 0.00%SOL$85.87▼ 1.91%TRX$0.3624▼ 0.46%FIGR_HELOC$1.03▲ 0.47%DOGE$0.1048▼ 1.14%HYPE$56.58▼ 4.03%USDS$0.9996▼ 0.02%ZEC$617.63▼ 7.99%ADA$0.2473▼ 2.23%LEO$9.86▼ 0.28%BCH$377.14▼ 0.98%XMR$382.36▼ 5.01%LINK$9.67▼ 1.27%WBT$56.49▼ 1.44%CC$0.1565▼ 2.63%TON$1.94▼ 5.28%XLM$0.1460▼ 1.63%USD1$0.9995▼ 0.04%USDE$0.9990▼ 0.00%DAI$0.9996▼ 0.00%SUI$1.08▼ 6.90%LTC$53.78▼ 1.02%AVAX$9.33▼ 1.72%HBAR$0.0890▼ 1.49%M$2.76▼ 0.77%BTC$76,609.00▼ 1.40%ETH$2,110.22▼ 1.28%USDT$0.9989▼ 0.02%BNB$655.39▼ 0.29%XRP$1.35▼ 2.31%USDC$0.9997▲ 0.00%SOL$85.87▼ 1.91%TRX$0.3624▼ 0.46%FIGR_HELOC$1.03▲ 0.47%DOGE$0.1048▼ 1.14%HYPE$56.58▼ 4.03%USDS$0.9996▼ 0.02%ZEC$617.63▼ 7.99%ADA$0.2473▼ 2.23%LEO$9.86▼ 0.28%BCH$377.14▼ 0.98%XMR$382.36▼ 5.01%LINK$9.67▼ 1.27%WBT$56.49▼ 1.44%CC$0.1565▼ 2.63%TON$1.94▼ 5.28%XLM$0.1460▼ 1.63%USD1$0.9995▼ 0.04%USDE$0.9990▼ 0.00%DAI$0.9996▼ 0.00%SUI$1.08▼ 6.90%LTC$53.78▼ 1.02%AVAX$9.33▼ 1.72%HBAR$0.0890▼ 1.49%M$2.76▼ 0.77%
ACTIVEEthenaENA→TetherUSDT
ENA WOULD BE$21.04
MULTIPLIER▲ 201x
TARGET MCAP$189.63B
← G.MARKETS/COMPARE/Ethena logoENA→Tether logoUSDT
MCAP COMPARISON · LIVE

If had 's mcap →

ENA WOULD BE
$21.01
currently $0.1045 · target mcap $189.63B
MULTIPLIER
▲201x

ENA needs a 201x move to match USDT's valuation

COIN PROFILES

ENA vs USDT
Ethena logo
ENAUnverified
Ethena
SOURCE
PRICE$0.1045
24H CHANGE▼ 2.66%
MARKET CAP$941.51M
RANK#75
SUPPLY9.0B ENA
DOMINANCE0.03%
7d▼ 8.51%
VS
Tether logo
USDTUnverified
Tether
TARGET

Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S.

PRICE$0.9989
24H CHANGE▼ 0.02%
MARKET CAP$189.63B
RANK#3
SUPPLY189.9B USDT
DOMINANCE6.32%
7d▼ 0.07%

PERFORMANCE

normalized % change

SCALE

size in proportion · area = mcap
MARKET CAParea = proportional cap
201x bigger
ENA$941.51M
USDT$189.63B
THE CLIMBEthena logoENA→Tether logoUSDTMULTIPLIER▲ 201xGAP$188.69B
$10.00B$100.00B
Ethena logo
SOURCEENA$941.51M
Tether logo
TARGETUSDT$189.63B
Blockchain Capital logo
BCAP$963.51M
Algorand logo
ALGO$1.03B
Morpho logo
MORPHO$1.26B
USDD logo
USDD$1.51B
Ripple USD logo
RLUSD$1.76B
Ondo US Dollar Yield logo
USDY$2.13B
Bittensor logo
TAO$2.69B
Shiba Inu logo
SHIB$3.40B
Litecoin logo
LTC$4.15B
Toncoin logo
TON$5.24B
LEO Token logo
LEO$9.08B
Figure Heloc logo
FIGR_HELOC$18.56B
log scale · mcap in USDMay 22, 2026
Ethena logo
ENAEthena
$941.51MSOURCE
Blockchain Capital logo
BCAP
$963.51M
Algorand logo
ALGO
$1.03B
Morpho logo
MORPHO
$1.26B
USDD logo
USDD
$1.51B
Ripple USD logo
RLUSD
$1.76B
Ondo US Dollar Yield logo
USDY
$2.13B
Bittensor logo
TAO
$2.69B
Shiba Inu logo
SHIB
$3.40B
Litecoin logo
LTC
$4.15B
Toncoin logo
TON
$5.24B
LEO Token logo
LEO
$9.08B
Figure Heloc logo
FIGR_HELOC
$18.56B
Tether logo
USDTTether
$189.63BTARGET
mcap in USDMay 22, 2026

BAG SCENARIOS

If ENA hit USDT mcap
target: $21.01 / ENA
SCENARIOBAG SIZECOST TODAYVALUE AT TARGETGAIN
$10 starter100 ENA$10.45$2,100.84+$2,090.40
Coffee money1K ENA$104.45$21,008.44+$20,903.99
Small bag10K ENA$1,044.53$210,084.39+$209,039.86
Real bag100K ENA$10,445.30$2,100,843.88+$2,090,398.58
Whale bag1M ENA$104,453.00$21,008,438.78+$20,903,985.78
Generational10M ENA$1,044,530.00$210,084,387.80+$209,039,857.80

FOR CONTEXT

$189.63B compared to the world
UnitedHealthUNH
$450.00B
USDT mcap is 42.1% of UnitedHealth
NetflixNFLX
$380.00B
USDT mcap is 49.9% of Netflix
UberUBER
$160.00B
USDT mcap is 1.19× Uber
NikeNKE
$130.00B
USDT mcap is 1.46× Nike
StarbucksSBUX
$100.00B
USDT mcap is 1.90× Starbucks
SpotifySPOT
$90.00B
USDT mcap is 2.11× Spotify

RELATED

Other ways to ask
Ethena logoENA→Bitcoin logoBTC
$169.93▲ 1.6Kx
Ethena logoENA→Ethereum logoETH
$28.19▲ 270x
Ethena logoENA→BNB logoBNB
$9.78▲ 93.7x
Ethena logoENA→XRP logoXRP
$9.21▲ 88.2x
Ethena logoENA→USDC logoUSDC
$8.49▲ 81.2x
Ethena logoENA→Solana logoSOL
$5.50▲ 52.6x

About this comparison

This page compares the market capitalizations of Ethena (ENA) and Tether (USDT). With Ethena currently at $0.1045 per coin and a market cap of $941.51M, and Tether at $0.9989 with a market cap of $189.63B, applying Tether's market cap to Ethena's circulating supply produces a hypothetical ENA price of $21.01 — a 201x move from current.

Tether: Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S.

All figures are live from the underlying market data feed. Past performance and hypothetical valuations are not indicative of future results.

Frequently asked

If Ethena had Tether's market cap, what would the price be?

If Ethena (ENA) had Tether's (USDT) current market cap of $189.63B, each ENA would be worth approximately $21.01 based on the circulating supply of 9,026,562,500 ENA. That is 201x the current ENA price of $0.1045.

What is the current market cap of Ethena?

Ethena (ENA) currently has a market cap of $941.51M, ranking #75 by market capitalization. Each ENA trades at $0.1045.

What is the current market cap of Tether?

Tether (USDT) currently has a market cap of $189.63B, ranking #3 by market capitalization. Each USDT trades at $0.9989.

How does ENA compare to USDT?

Ethena's market cap of $941.51M sits far above Tether's $189.63B. For ENA to reach USDT's current valuation, the price would need to move 201x from its current level.

Is this comparison financial advice?

No. G.MARKETS is an informational tool. The hypothetical price shown is a mathematical calculation assuming Ethena's circulating supply stays constant — it is not a prediction, recommendation, or any form of financial, investment, legal, or tax advice. Always do your own research before making any decision related to crypto assets.