Why did $ENA surge in the short term?
1⃣ USDe circulation increased by 75% in 30 days (reaching $9.5 billion), with the protocol continuously repurchasing/burning ENA.
2⃣ TVL broke $9.47 billion, with transaction fees and staking APY around 10-12%.
3⃣ Wintermute proposal: sENA will enjoy protocol dividends.
4⃣ Secured $360 million in financing, of which $260 million is for open market repurchases.
5⃣ BTC strengthening + multiple exchanges listing, unlocking selling pressure without breaking the price.
Multiple fundamentals + capital expectations resonate, but still need to pay attention to funding rates, unlocking, and regulatory risks. #ENA #Ethena #DeFi
Show original
1.02K
2
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.