Hey there! Guess what? Ethena’s price has been on the rise for two consecutive days, and you know what that means – more money rolling in! Their annual revenue is increasing, and get this – a big fish called a “whale” decided to buy even more ENA tokens. This whale exchanged 84,370 Chainlink (LINK) tokens, worth around $1.9 million, for ENA tokens.
Why did they do that? Well, it seems like the whale believes Ethena will perform better than Chainlink in the future. Plus, maybe they wanted to mix things up a bit in their investment portfolio. Even though they still have some Chainlink tokens worth $2.2 million, they also own other cool stuff like Pepe, Auki, Music, Groyper, and good old Ethereum – all adding up to a grand total of $18 million!
Now let me tell you something interesting about Ethena. They’ve got themselves quite a reputation in the world of crypto with their stablecoin called Ethena USDe (USD). People love it so much that it’s gathered over $5.8 billion in assets! That makes it the third biggest stablecoin out there after Tether and USD Coin.
Some people think USDE is even better than those other ones because it offers higher returns – around 10% every year! That’s way more than what most short or long-term bonds can give you these days. But wait, there’s more! Last December, Ethena introduced another new thing called USDtb – a stablecoin supported by Blackrock’s BUIDL Fund.
And guess what happened? In just a few months, it managed to collect over $70 million in assets! Talk about success! Oh yeah, and don’t forget how profitable Ethena has been too; they earned over $223 million from fees alone within only eight months! Impressive stuff right there. So why does everyone keep talking about how well Ethena is doing?
Well, if we take a look at their price chart, we can see some pretty awesome signs pointing towards even bigger growth soon. For example, there’s this thing called a “bullish pennant” happening right now – kind of like when someone draws an arrow on your map telling you where treasure might be hidden!
Then there’s also this “cup and handle” pattern starting back in June last year…and historically speaking? Those usually mean great things ahead for investors who jump on board early enough before prices skyrocket even higher during this current crypto boom time we find ourselves living through today!
So buckle up folks because things are looking pretty darn exciting for our friend Ethena here!
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