The undervalued ENA has already broken through $1. Can it reach $10 in the short term?
Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for currencies that do not rely on the infrastructure of the traditional banking system, while providing a globally accessible dollar-denominated savings tool - "Internet Bond".
As the Ethena protocol, a decentralized finance (DeFi) platform with a market value of $1.3 billion, prepares to launch its ENA governance token next week, we are witnessing an important milestone in the token economics of the cryptocurrency field. By distributing ENA tokens to holders of "synthetic dollars" USDe, Ethena not only gives back to the community, but also opens up a decentralized governance system based on tokens.
Summary: In the short term, ENA may still be hyped, but it is very difficult to reach $10. It is likely to double or triple in the short term, and small funds can participate.
