đ” According to NewsBTC: $ENA Crucial Role In Bitcoin Bull Market
While Edwardsâ statement is optimistic about Ethenaâs impact on Bitcoinâs bull market, one user raised concerns about potential downsides. Edwards acknowledges that execution risks, such as custody failure or delta neutrality failure, could have adverse effects.Â
Edwards identifies custody risk as the most significant risk in this context. However, he highlights that any negative impacts will likely be short-lived, and market forces will ultimately dictate Ethenaâs net annual percentage yield (APY).
In short, by limiting over-leveraging in future markets and reducing spot supply, Ethena could significantly support the price of BTC and extend the current bull run.
Currently, BTCâs price has experienced a significant decline, plummeting to the $68,800 level. This marks a 4.3% decrease compared to Mondayâs price.
In parallel, Ethenaâs native token, ENA, has also followed the overall downtrend of the market, reflecting BTCâs price movement with a 4% decrease. Presently, ENA is trading at $1.22.
