This DeFi newcomer $ENA $PENDLE has seen its exchange rate suffer during this wave of ETH price increase 🧐
The decline in the exchange rate of $ENA is understandable, as its circulating market cap increases with emissions; the current logic is still purely that of a mining coin. Initially, it might enjoy a premium like $ARB and others, but if it ultimately doesn't translate into real utility or attract institutional buying, the price trend is likely to be poor.
As for $PENDLE, there's not much to say, just HODL.
I believe that the breaking point for $ENA does not lie in revenue sharing, but rather in promoting the adoption of Delta-Neutral type stablecoins based on funding rates and staking yields by institutions. There needs to be an expectation for market institutions to adopt it before the value of $ENA is drained and the loose environment during the reign of the understanding king comes to an end.
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