$ENA
ENA is a rare phenomenon-level DeFi project that has experienced rapid growth and subsequent decline. ENA has fallen 87% from its peak, but has rebounded to around $1 billion after expanding the use of its stablecoin USDE. According to market forecasts, ENA's price is expected to grow by 72.31% in 2024 to about $0.69618. If this happens, this may indicate that ENA's current price is undervalued relative to its potential growth.
Although Ethena's design risks are well handled, how to manage TVL after the end of the points/Shards program is a pressing issue. If Ethena's team can develop an effective strategy to maintain the demand and pledge rate of USDe, this may further enhance the value of ENA.
