#notcoin #ETHETFS #altcoins #BinanceLaunchpool #BTC Ethena (ENA) experienced a significant surge in price today, of more than 10%, At the moment of writing this article, ENA is trading at $0.78, with a total market cap of almost $1.2 billion. On May 16, Ethena Labs shared that to date, the sUSDe contract has received protocol yield attributable to assets backing staked USDe, with the protocol retaining the remainder going to the sUSDe contract.
They noted that as a result sUSDe APY is 37.2%. To date the sUSDe contract has received protocol yield attributable to assets backing staked USDe, with the protocol retaining the remainder As of today, the retained portion is reduced to 20%, with the remainder going to the sUSDe contract.
The team noted that currently only 15% of USDe is staked in sUSDe. If the entire protocol backing generates about 7%, transferring returns from assets backing unstaked USDe to the staking contract, this will increase effective sUSDe APY to 37%.
Ethena Labs notes that if the average protocol return since launch of 23%, the implied sUSDe yield would increase to about 125%. This is a direct result of the low percentage of sUSDe being stakes and as the stake rate increased, the potential increase in sUSDe will be reduced. The team also noted that as of the beginning of June, the Ethena Governance Committee will be in place with several of the leading risk management advisory businesses in the space, and at that point, the governance will play a more involved role in deciding the ongoing retention of the protocol returns.Ethena launches on Bybit next week, where USDe can be used across the platforms as collateral. BitMEX founder, Arthur Hayes recently shared his belief that ENA will reach $10.Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money that is not reliant on traditional banking system infrastructure, alongside a globally accessible dollar-denominated savings instrument â the Internet Bond.
$ENA vamos por 3 usd para esta semana y tener mejor crecimiento q #Bitcoin ,#ETH y #solana
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đ Ethena (ENA) surges 13.5% as researcher forecasts 100x growth in altcoin season
Ethena (ENA), the synthetic U.S. dollar protocol built on the Ethereum network, recorded a significant surge as a renowned crypto researcher predicts a 100x rise during an anticipated altcoin season.
ENA is up 13.5% in the past 24 hours and is trading at $0.90 at the time of writing. The assetâs market cap is approaching the $1.3 billion mark, making it the 67th-largest cryptocurrency.
Quite similarly, Ethenaâs daily trading volume surged by 22.5%, currently hovering at $285 million.
The latest uptick in the surge of ENA tokens comes as renowned crypto researcher Alex Wacy has ignited speculation about the beginning of the altcoin season, signaling potential surges for select altcoins, including Ethena, amidst a $277.174 billion market cap.
Wacy estimates that approximately 15% of altcoins could yield returns ranging from 10x to 100x during this anticipated altcoin season.
Among the key indicators cited by Wacy is the consolidation of over $700 billion in TOTAL3, excluding Bitcoin (BTC) and Ethereum (ETH), which serves as a confirmation of a bullish trend.
TOTAL3 shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and ETH. This metric acts as a gauge for the broader altcoin marketâs readiness to emerge from the shadow of Bitcoin.
In his analysis, Wacy highlights Ethena as a synthetic dollar protocol that provides a crypto-native alternative to conventional banking through the Internet bond.
Moreover, he notes that the next unlocking event for ENA is scheduled for April 2025 while emphasizing a familiar pattern observed on the weekly chart, typically preceding significant growth. Given the ongoing altcoin season, the pattern is anticipated to lead to a swifter rebound compared to projects launched during bearish market conditions.
Ethena Labs, the developer behind the synthetic dollar protocol, has recently received approval for a USDeFRAX liquidity pool in collaboration with Frax Finance.
Why Is Ethenaâs ENA Dipping Despite Being the âFastest-Growing Stablecoin of All Timeâ?
Ethena, dubbed the âfastest growing stablecoin of all time,â has faced a recent decline in its ENA token value, leaving many puzzled by the downturn. An analysis by Delphi Digital sheds light on the factors influencing Ethenaâs performance and its unique approach to the synthetic dollar. Additionally, insights from user @GammaPure highlight the involvement of early venture capitalists (VCs) and investors in the recent dip.
According to Delphi Digital, Ethena has pursued a fundamentally different path compared to existing stablecoin models dominated by Tether and Circle, which collectively hold 90% of the market share. Unlike stablecoins that rely on traditional collateral such as real-world assets (RWAs) or collateralized debt positions (CDPs), Ethenaâs USDe is collateralized by a long staked ETH position offset by an equivalent ETH-PERP short position. Moreover, Ethena has integrated BTC as additional collateral, further enhancing its scalability.
The delta-neutral backing of USDe offers two structural advantages over other yield-bearing stablecoin designs. Firstly, it is more capital efficient, requiring only $1 of collateral to mint 1 USDe, enabling Ethena to scale efficiently. Secondly, USDe harnesses the high-yielding sources of staked ETH and perpetual funding rates, capturing attractive yields from both. This novel design allows Ethena to cater to the marketâs demand for yield while reaping the benefits of being a synthetic dollar.
Ethenaâs architecture revolves around three core mechanisms: minting, redeeming, and staking USDe. End-users interact with liquidity pools or Ethenaâs front-end, while authorized participants (APs) handle the minting and redemption processes. Swaps create arbitrage opportunities for APs, who rebalance pools by minting or redeeming USDe based on market demand. To earn yield, users stake USDe for sUSDe, which accrues value over time.
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Despite its unique approach, Ethenaâs success is accompanied by certain risks. These include counterparty risk, negative funding risk, redemption and liquidity risk, and auto-deleveraging (ADL) risk. Delphi Digitalâs comprehensive report delves deeper into each risk, along with the measures implemented by the Ethena team and potential outcomes during adverse events.
Ethenaâs impact extends beyond its own ecosystem. By democratizing access to the delta-neutral trade and enabling composability, Ethena is reconciling yields across decentralized finance (DeFi), centralized finance (CeFi), and traditional finance (TradFi). The recalibration of DeFiâs baseline interest rates has prompted reactions from protocols such as Frax Finance, Ajnafi, Synthetix, and MakerDAO, which has collaborated with Morpho Labs and Sparkdotfi. MakerDAOâs recent moves are evaluated in the report through a ârisk-adjustedâ lens.
The deep dive by Delphi Digital also covers Ethenaâs scalability, profitability, early competitive advantage, the utility of its native token $ENA, and the potential collaboration between Ethena Labs and Pendle Finance, which could lead to DeFiâs first scalable yield curve.
Why Is Ethenaâs ENA Dipping
Twitter user @GammaPure offers additional insights into the recent dip in Ethenaâs ENA token value. The decline is attributed to early VCs and investors hedging their positions, leading to high futures short positions and substantial funding costs.
Despite the substantial returns they have already seen, these investorsâ tokens are locked until January 2025, prompting them to hedge for immediate profits. Retail investors face challenges as they buy at higher levels in the secondary market due to market-making activities and the transfer of large amounts of $ENA to exchanges, causing downward pressure. However, it is noted that Ethenaâs market capitalization remains relatively low compared to other stablecoins like UST and LUNA, leaving room for potential growth.
The future trajectory of Ethenaâs ENA token and its ability to overcome these challenges remain uncertain. As the market continues to evolve, Ethena aims to solidify its position as a groundbreaking synthetic dollar, with its unique approach and potential for further growth in the DeFi space.
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The post Why Is Ethenaâs ENA Dipping Despite Being the âFastest-Growing Stablecoin of All Timeâ? appeared first on CaptainAltcoin.
$ENA es de tener paciencia tiene mucho potencial en menos de los que espere va a llegar 2 usdt ya que le esta llegando mucho capital a usde que es un proyecto de #ethena eso promete mĂĄs rentabilidad que #Bitcoin y $ETH junto.
$SAGA sagata esta apunto de fracaso es la peor inversiĂłn que puede hacer te recomiendo salir antes que se vaya a 0 pues desde la salida no a generado buenas oportunidades y eso se va al piso.
Potential High Runner - #ENA 's Stock Could Skyrocket from $0.945 to $2.00!**
Hey everyone,
Just wanted to highlight something interesting I've noticed with #ENA 's current price sitting at $0.945. Based on my analysis, thereâs a strong potential for this stock to soar up to $2.00. This could be due to reasons for potential increase, e.g., new company developments, market trends, upcoming product launches, etc.
Would love to hear your thoughts on this and whether you think now is a good time to jump in!
Eso que bueno veo a $ENA , $OMNI y $BOME va a subir mucho.
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đą Ya se ha listado $OMNI en el mercado con un precio de ~45$.
đšâđ»Este Launchpool no ha sido tan rentable como los anteriores, pero si vemos una subida en la moneda alomejor las recompensas pueden ser mayores. Esta vez he obtenido 10$ teniendo 1.2 BNB bloqueados durante todo el periodo de la actividad.
confĂo mĂĄs en ena pero saga no vale la pena perdi mucho por ella y no se sabe cuando va a vender el proyecto y eso creo que va para abajo saga pues el mercado lo maneja el proyecto
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BUY THESE COINS BEFORE HALVING ! 100Ă ?
The recent market crash has presented a rare opportunity for heavy profits. Here are three coins with future predictions you should consider:
1. $SAGA : This newly launched coin is trading below $4.2, falling from $7.9. Our predictions have been accurate, with alerts given in advance. Buying below $4.5 and holding for 10 days until Halving could prove profitable. Future analysis suggests a potential to reach above $6.7 in the coming month and retain value above $5.5 in the coming week.
2. $PEPE : A popular meme coin trading below $0.00000590, falling from its ATH $0.00001080. Setting a buy limit below $0.00000565 could be advantageous. The coin may rise to a new ATH of $0.00001120 after halving.
3. $ENA : Known for its stability and trustworthiness, this coin was advised for purchase below $0.920, with accurate predictions. Currently trading below $1.2, buying below $1 or $1.1 might be profitable. Future predictions indicate a potential reach of $2 soon.
Despite the market crash, remain calm and hold your positions. Our time is coming soon, just hold until halving. Though I'm currently out of funding, I hope you won't miss this rare opportunity. Best of luck to all, and if you found this valuable, consider giving a tip to support!
This post offers clear predictions and aims to guide investors during this volatile period.
$SAGA ya se fue al piso lo mejor es vender ya no vale la pena eso si los desarrolladores los vende se va al piso mejor invertir en $ENA . Eso como va a llegar a un 1 dolar
$ENA se alista para romper nuevo maximo histĂłrico
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$ENA HOLD UP YOUR POSITIONâïž As it went down it will go again up. But you might miss out more if went up while you were sleeping đ€ Now ENA is Linked to $BTC Solid project with revolutionary potential. Do not forget those who are working hard to get it down those who will buy more now on red. ENA 2$ is not a dream ENA 10$ is not a dream Itâs a fact and will happen sooner or later. ENA 100$ is the dream. And Iâm a believer that it will happen if you and me are together supporting this project and never give up hope. - Iâm a dreamer. Do not believe me. Believe yourself. O G R A BELIEVErs
đ” Attention all $ENA holders! Exciting news ahead! đ Get ready to witness a game-changing moment with ENA! This revolutionary coin is set to create millionaires from scratch, starting at just 0.5. Brace yourselves, because ENA is about to steal the spotlight and rock the show like never before! đŻ First stop very soon $2! Next up: $4! And finally, aiming for $8 within 2024! This isn't just speculation, it's a forecast based on potential and possibility. A very good time for new investers to buy $ENA. Remember, always do your own research before diving in! Don't forget, even Bitcoin started small, at 0.4, and look where it is todayâdominating the market! đ Get ready to join the ranks of millionaires with ENA! Are you prepared for this incredible journey? Let's make history together! đȘ #ENA #BullorBear
It appears that confidence is shifting from $SAGA to $ENA , as investors are moving their assets towards Ena amid concerns about Saga's performance. This shift suggests growing trust in Ena's potential and its ability to deliver on promises."