Ethena is the newest project on Binance Launchpool.
Is it a potential project? Let's find out
What is Ethena ?
#Ethena is a synthetic dollar protocol built on #Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument - the 'Internet Bond'.
Here's a breakdown of its key features:
Dollar-denominated savings: Their "Internet Bond" uses USDe to offer a way to earn returns on your crypto holdings, similar to a savings account but denominated in dollars.
Crypto-native alternative: Ethena aims to provide a way to experience dollar-like stability within the DeFi space, without relying on traditional banking systems.
Transparent and Secure: Ethena prioritizes transparency and security. USDe is fully backed by audited on-chain assets, ensuring complete visibility into its backing and free composability within the DeFi ecosystem.
Backed by Big Names in Industry : DragonFly Capital, Binance Labs, Delphi Digital, Wintermute, GSR, OKX, BlockTower, Lightspeed and Mirana Ventures.
Total Raised: $20.5M
Its farm is NOW LIVE 👉 here
🔸Stake your $BNB and $FDUSD to earn $ENA
🔸$ENA will be listed on #Binance at 2024-04-02 8:00 (UTC)
Only 1 days left to Farm $ENA on #BinanceLaunchpool
You don't wanna miss it.
Price Predictions
Recent projects on Binance launchpool have been quite successful after listing :
Ether.fi was launched with a market cap of $380M and x2 after 10 days
Aevo was launched with a market cap of $330M
Portal Token was launched with a market cap of $356M
Pixel marketcap at the time of launch $400M
Altlayer marketcap at the time of launch $560M
Xai marketcap at the time of launch $420M
In my opinion, after listing EtherFi Market cap will be around $350M - $450M
With Initial Circulating Supply: 1,425,000,000 (9.5% of total supply)
$ENA price will be around $0.24 to $0.32
The price will adjust down a bit due to selling pressure from Launchpool Farmers but will rebound after a few days sideways.
Synthetic dollar protocol is one of the areas that will attract a lot of cash flow in the upcoming bull run season and remember, $ENA belongs to the BinanceLaunchpool category, the project's Market Cap can completely x2 - x4 this year when $BTC halving is approaching and Positive news from macroeconomics (FED decided to reduce interest rates 3 times this year, US inflation index decreased, unemployment rate stabilized -> no economic recession )
THAT is all my opinion on Ethena.
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