In this article I will analyze the project, the investors, the tokenomics, the best price to buy and which price it could reach on 2024/2025 Bullrun.
So what is ENA(ETHENA)?
Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money that is not reliant on traditional banking system infrastructure, alongside a globally accessible dollar-denominated savings instrument — the 'Internet Bond'.
Ethena Labs is the creator of USDe, a synthetic dollar protocol built on Ethereum. This initiative addresses the need for a stable, scalable form of money within the crypto-native space, without relying on traditional banking systems.
ENA is Ethena’s native utility token and is used in the following functions:
Governance: ENA token holders can vote on protocol governance decisions.
With that information we can understand that ENA is an interessant project, and it have future in crypto space. So it is not a shit coin, that is a good coin with a good project.
Investors🤑
ENA have three TIER 1 investors, including Binance Labs, have eight TIER 2 investors and six TIER 3 investors.
In total, investors have invested $20.5Million dollars and bought 25% of total supply. So we will calculate the price they bought that coins.
Total supply is 15 Billion coins, so 25% is: 0,25*15Billion= 3,75 Billion coins. So, the investors bought 3,75Billion coins with $20Million.
So we divide 20Million by 3,75Billion, what equals to 0.0053$. That means that the investors bought that coins with a 0.0053$ price. Now the token costs 0.84$, so them already have x158 ROI.
The quantity of the investments is big, but the problem is the ROI, but we will now understand why they can't sell anything, so they can't dump the price down.
Tokenomics💰
The total supply of Ethena is 15 Billion coins, investors have 25% allocated for them, and the team have 30% allocated for them. In total the investors and the team have 55% allocated for them, but remember this coins are not unlocked yet. This means that when they will get their coins unlocked, they will pump the price very high so they can get bigger profit. But when is their unlocks?
The investors and the team will start receiving the coins in April of 2025, but tha full allocation will be unlocked only in April 2028. What this means? This means that they will not have any coins untill april 2025, so for now, there is now possibilities that them will manipulate the token price. So, due to the fact that there is a Bullrun coming, the price will grow.
ENA unlocks
Also we can see that ENA market cap is $1,2Billion, what is not very big, as the project have a big investors, and the project shows a good future, we can suppose that it can easily reach between $5Billion and $10Billion market cap on this Bullrun.
If ENA reach $5Billion market cap, it will cost 3.5$, and if it reach $10Billion market it will cost 7$. In my opinion, Ena have a potential to cost between 3$ and 6$ on this Bullrun, what is 400$ grow from now.
With which price to buy ENA?🚀🚀🚀
Due to the fact that $ENA was listed today, it's too risky to buy now, so I recommend so wait at least 3 days. I reccomend to buy with a lower price than 0.60$ to have more gains.
So basically the project is good, the investors have invested a big money. But them will not have their coins on this Bullrun, but in the next they will, so in the next Bullrun(2029) this coin will have a potential to grow above 10$ and even more. But buying now, even if it reaches 4$ price, you will only have x4 gains.
There are a lot better cryptocurrencies to invest: Manta, DYDX, AI, PENDLE, NEAR, ARB, TIA. These coins have more potential to grow on this Bullrun, so you will have bigger gains.
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I wish you big gains🔥🚀
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