💥💥 IMPORTANT NOTICE 💥💥
Can I still buy #Ethena ?
The Binance listing showed that the price of $ENA is rising rapidly and another cryptocurrency is preparing to join the exchange market.
Since its launch on Binance on Tuesday, the Ethena token (ENA) has seen a 53% increase in value, with a 13% increase in the last 24 hours alone.
Unlike USDT and USDC, USDe is a so-called “synthetic dollar” that can generate dividends by combining ether liquid staking tokens with collateral from short ether (ETH) perpetual futures bets; This allows it to keep the price constant at $1.
"Delta hedging" is the method that keeps the coin stable. To use this strategy, short-term bets equal to the price risk of the collateral assets must be placed.
USDe is currently the second trending cryptocurrency on CoinMarketCap with a 24-hour trading volume of $2.5 billion, and its market cap has also increased recently, remaining just under $2 billion.
Valuation tracker Tracxn reports that Franklin Templeton, DragonFly, Kraken, Maelstrom and others contributed over $20 million to Ethena Labs' two investment rounds.
Ethena has angel investors, including BitMex co-founder Arthur Hayes.
From Tuesday's post-launch high of around $1.25, we could see an almost 20% decline on ENA's trading chart. It has more than doubled in value since going public at about $0.64 per coin.
The Relative Strength Index (RSI) of #ENA has calmed down in the last hour after briefly reaching above 70 this morning, indicating overbought conditions due to a brief but intense buying wave.
It is not Investment Advice.
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