7 Best Ethena Alternatives in 2026
Last updated: 11/3/2026 · 🏦 DeFi · 7 alternatives
Ethena (ENA) is one of the most well-known DeFi cryptocurrencies with a current Value Score of 77/100. But is Ethena the best choice in its segment? We identified 7 alternatives operating in the same DeFi space — ranked by our fundamental Value Score, which combines 13 market, supply and developer metrics. Each alternative is compared against the original so you can decide with full data.
Not Financial Advice
This page is an informational analysis, not investment advice. The CryptoValue Score is an algorithmically generated rating from public data — it does not replace professional advice. Cryptocurrencies are highly volatile; total loss is possible. Read full risk disclaimer →
How we pick alternatives
How we pick alternatives: (1) Same category as Ethena — functionally comparable projects (Layer-1 vs Layer-1, DeFi vs DeFi, etc.). (2) Sorted by Value Score descending — coins with stronger fundamentals are prioritized. (3) Market cap is shown for context: smaller caps have higher percentage upside, larger caps offer more liquidity and established adoption.
Sushi (SUSHI)
Rank #412 · $55.06M · $0.192024
Why an alternative: Model score: 81.9/100; comparison score: 76.6/100; market cap: $55.06M. These readings establish no return advantage or lower risk.
Aave (AAVE)
Rank #47 · $1.98B · $128.18
Why an alternative: Model score: 81.5/100; comparison score: 76.6/100; market cap: $1.98B. These readings establish no return advantage or lower risk.
Compound (COMP)
Rank #165 · $200.21M · $20.02
Why an alternative: Model score: 80.9/100; comparison score: 76.6/100; market cap: $200.21M. These readings establish no return advantage or lower risk.
Rocket Pool (RPL)
Rank #595 · $34.38M · $1.50
Why an alternative: Model score: 80.0/100; comparison score: 76.6/100; market cap: $34.38M. These readings establish no return advantage or lower risk.
yearn.finance (YFI)
Rank #347 · $71.21M · $1,984.76
Why an alternative: Model score: 79.6/100; comparison score: 76.6/100; market cap: $71.21M. These readings establish no return advantage or lower risk.
PancakeSwap (CAKE)
Rank #93 · $612.60M · $1.87
Why an alternative: Model score: 79.4/100; comparison score: 76.6/100; market cap: $612.60M. These readings establish no return advantage or lower risk.
Convex Finance (CVX)
Rank #182 · $178.68M · $1.92
Why an alternative: Model score: 78.9/100; comparison score: 76.6/100; market cap: $178.68M. These readings establish no return advantage or lower risk.
Side-by-Side Comparison
| Coin | Score | Market Cap | Price | 30d |
|---|---|---|---|---|
| Ethena(ENA) · original | 77 | $2.31B | $0.172113 | -27.42% |
| Sushi(SUSHI) | 82(+5) | $55.06M | $0.192024 | -24.41% |
| Aave(AAVE) | 82(+5) | $1.98B | $128.18 | -28.61% |
| Compound(COMP) | 81(+4) | $200.21M | $20.02 | -19.55% |
| Rocket Pool(RPL) | 80(+3) | $34.38M | $1.50 | -22.70% |
| yearn.finance(YFI) | 80(+3) | $71.21M | $1,984.76 | -25.36% |
| PancakeSwap(CAKE) | 79(+3) | $612.60M | $1.87 | -25.23% |
| Convex Finance(CVX) | 79(+2) | $178.68M | $1.92 | -14.39% |
Bottom Line
Currently Sushi has a better Value Score than Ethena (82 vs 77) in the same use case. That doesn't automatically mean "buy instead of Ethena" — liquidity, network effects, and personal risk tolerance matter. But for investors actively looking for alternatives, the top 3 coins on this list are the best starting point for your own research.
Ethena: data in context
Market position
Ethena (ENA) has market-cap rank #42. Market cap: $2,307,395,686.00. Rank alone does not establish liquidity or investment risk.
Reported price data
Current price: $0.172113. Share of the reported all-time high: 11.32% ($1.52). Reported price changes: 7d: -13.97%; 30d: -27.42%.
Measured model readings
Model score: 76.6/100. MVRV Proxy (Price / ATH): 85/100; Cycle Position (time since ATH): 80/100; Supply Dynamics: 70/100; Tokenomics: 70/100; NVT Proxy (MCap / Volume): 90/100; Network Activity Proxy: 75/100; Volume / MCap: 80/100; Capital Locked (MCap / TVL): 95/100; Protocol Fees (MCap / Annual Fees): 85/100; BTC Correlation Proxy: 55/100; Sentiment Proxy: 30/100; Momentum (30d): 70/100. These are model readings, not a forecast or evidence of realized capitalization or on-chain cost basis.
Data gaps and limits
12 of 13 components are measurable (94% of nominal model weight). Not recorded: Developer Activity. Missing data is not a zero reading. This score does not audit reserves, wallet distribution, unlock schedules or technical security risks.
Frequently Asked Questions
What is the best alternative to Ethena?
Based on our Value Score, Sushi (SUSHI, score 82/100) is currently the highest-rated alternative in the DeFi segment. "Best" depends on your requirements though — liquidity, smart contract functionality, energy efficiency, etc.
Why should I consider alternatives to Ethena?
Three main reasons: (1) Diversification — concentration risk in a single crypto is dangerous. (2) Higher upside potential — smaller coins in the same segment can rise more in percentage terms if fundamentals are solid. (3) Different trade-offs — e.g. higher transaction speed, lower fees, or better decentralization. Caveat: smaller coins also carry more risk and lower liquidity.
Are these alternatives better than Ethena?
"Better" is subjective. The list is sorted by Value Score — coins with stronger fundamentals at the top. But the score doesn't capture everything: network effects, brand recognition, regulatory clarity, and adoption speed are additional factors. Use the list as a starting point for deeper research, not as a final buy decision.
How were these alternatives selected?
We filter all coins in our database (1000+ coins) by the same category as Ethena (DeFi), exclude Ethena itself, and sort by Value Score descending. The top 7 are listed here. The list auto-updates as scores change (hourly).