$ENA /USDT — 🟢 LONG · Conf 85%
📍 Entry: 0.1987 – 0.2009
🛑 SL: 0.1693
🎯 TP1: 0.2093
✅ TP2: 0.2172
🏆 TP3: 0.2292
All three MAs fanning out bullishly (MA7: 0.2005 > MA25: 0.1848 > MA99: 0.1599) with price riding above the MA7 on a clean 48H uptrend — structure has not broken.
$ENA : Ethena issues USDe, a synthetic dollar backed by delta-neutral ETH staking and short perp positions — key mechanic is the funding rate yield that backs protocol revenue; risk is that negative funding environments can compress yields and stress the peg.
If Ethena's USDe yield is structurally dependent on positive perpetual funding rates, how does the protocol maintain stability during a prolonged bear market where funding goes consistently negative?
#ENA #Ethena #USDe #Staking #ETH
📍 Entry: 0.1987 – 0.2009
🛑 SL: 0.1693
🎯 TP1: 0.2093
✅ TP2: 0.2172
🏆 TP3: 0.2292
All three MAs fanning out bullishly (MA7: 0.2005 > MA25: 0.1848 > MA99: 0.1599) with price riding above the MA7 on a clean 48H uptrend — structure has not broken.
$ENA : Ethena issues USDe, a synthetic dollar backed by delta-neutral ETH staking and short perp positions — key mechanic is the funding rate yield that backs protocol revenue; risk is that negative funding environments can compress yields and stress the peg.
If Ethena's USDe yield is structurally dependent on positive perpetual funding rates, how does the protocol maintain stability during a prolonged bear market where funding goes consistently negative?
#ENA #Ethena #USDe #Staking #ETH
