How it works

Two ways to ask “what if”. Here’s an example with ETH and BTC.

Market cap

What if ETH had BTC's market cap?

We give ETH the same market cap as BTC, then divide by the supply used for ETH. NOW uses the current market cap of BTC; ATH uses its historical high.

Peak ratio

What if ETH hit its peak BTC ratio?

We find the highest recorded ETH/BTC price ratio in our available daily history, then apply it to the price of BTC today. This shows what one ETH would cost if it regained that relative strength.

Use the question below your result to flip between the two modes.

What if A had B's market cap?

Select A
Select B
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ENA vs BUIDL market cap comparison

As of Sep 19, 2026, if Ethena (ENA) had BlackRock USD Institutional Digital Liquidity Fund's (BUIDL) market cap of $2.33B, one ENA would be worth $0.2309, 1.12x its current price of $0.206.

At BlackRock USD Institutional Digital Liquidity Fund's all-time-high market cap of $2.33B (Feb 11, 2025), ENA would be worth $0.2309 (1.12x).

BlackRock USD Institutional Digital Liquidity Fund is 1.12x the size of Ethena by market cap. The rank gap between them is 4 places.

The gap between ENA and BUIDL narrowed 11.7% since Sep 18, 2026.

MetricEthena (ENA)BlackRock USD Institutional Digital Liquidity Fund (BUIDL)
Price (USD)$0.206$1.00
Market cap (USD)$2.08B$2.33B
Market cap rank#47#43
Circulating supply10.1B ENA2.33B BUIDL
24h change+22.04%0%

Price of Ethena at BlackRock USD Institutional Digital Liquidity Fund's market cap: ($2.33B ÷ $2.08B) × $0.206 = $0.2309.

Questions

What would ENA be worth with BlackRock USD Institutional Digital Liquidity Fund's market cap?
Ethena (ENA) would be worth $0.2309 per coin with BlackRock USD Institutional Digital Liquidity Fund's market cap of $2.33B. That is 1.12x its price of $0.206 on Sep 19, 2026.
How many times would ENA need to grow to reach BlackRock USD Institutional Digital Liquidity Fund's market cap?
Ethena would need to grow 1.12x. Its market cap is $2.08B and BlackRock USD Institutional Digital Liquidity Fund's market cap is $2.33B.
How is the ENA price at BUIDL's market cap calculated?
Price of Ethena at BlackRock USD Institutional Digital Liquidity Fund's market cap: ($2.33B ÷ $2.08B) × $0.206 = $0.2309.

Data provided by CoinGecko. Refreshed daily. Last update Sep 19, 2026.