Pre-market price is around 0.6-0.7 and people think that the price may drop to at least the pre-market price or even lower, with the examples of $AEVO & $STRK.
The current price is around $0.8. Does it mean you should not buy now?
Institution invested $20.5M, accounting for a 25% stake, the institutional price of $ENA at 0.0055.
From this P/E approach, the pricing of 0.6-0.7 is not too high & there are 3x room potential -------------------- âą Market Cap Comparison: Estimated: Base on your conviction
Ethena stands out as a leader in stablecoin narratives, not just an ordinary one. It's known as âDelta-neutralâ narratives.
The cheatsheet made by @0xKillTheWolf will be super helpful in this case.
You can look at the column of âIf ENAâs Mcap same as it, it price would be:
My personal guess is at least half of the MakerDAO so the price will be $1.28 -------------------- âą MakerDAO Comparison Estimated: $1.83
@0xNing0x has made a simple valuation for $ENA using MakerDAO.
I have mentioned why Maker is a great proxy to value Ethena previously.
He choose various "Features" and assign weights to them. These features could include TVL, protocol fee, and actual revenue.
The weights may be subjective, but they provide a clear and comprehensive view for valuation purposes.