new player in the DeFi space - ETHENA.

ETHENA is a synthetic dollar protocol built on Ethereum. It’s been making waves since its launch due to its unique proposition of providing a crypto-native solution for money that isn’t reliant on the traditional banking system infrastructure.

ETHENA’s USDe is a synthetic dollar that largely mimics an algorithmic stablecoin. The tokens have a target peg of $1 and are minted as ether ($ETH ) tokens are deposited to the platform. The yield is generated from two sources:

1) Staking ether to a validator and earning 5% on the capital.

2) Shorting ether futures to capture the funding rate, which is estimated to be above 20% based on historical modeling.

Now, let’s talk about the price prediction. Based on historical data, the Ethena price could be around $1.989 at the end of the year 2024. Also, it could be around $2.68515 exactly one year later. In the next 3 years, the highest level Ethena price could reach is around $15.7954 and the lowest Ethena price could be around $1.2292.

Please remember that cryptocurrency investments carry a high level of risk, and you should only invest what you can afford to lose. Always do your own research before making any investment decisions.