THENA overview
Decentralized (DEX). Established 2022. Trust rank 384. Reported 24h volume 1.36 BTC.
Coverage: 44 active pairs across 33 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 92.1%. Key pairs include THE/WBNB, BSC-USD/BUSD, TAROT/BSC-USD, DEUS/WBNB. Leading pair THE/WBNB. Median spread on leading markets 0.62%.
How to read the key metrics
Volume mix: WBNB is the largest tracked quote currency at about 59.0% of measured flow. Data scope: 45 tickers observed, with spread readings on 45 markets. Trust rank provides a quick placement within a broad group of venues, and 24h BTC volume helps you gauge current activity. Coverage captures breadth across pairs and assets, which affects how resilient liquidity can be under changing demand. Concentration helps explain whether liquidity is diversified or tied to a handful of dominant pairs. Median spread represents the typical bid ask gap on leading markets and often aligns with day to day execution cost. A high top ten share suggests the venue is leader driven, so secondary pairs may react more during volatility. A good read is to pair these metrics with the top pairs panel and the volume chart to understand both structure and recent behavior.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy