$ENA right here it’s starting to get really interesting.
After the return on $USDE crossed 4.5%, the proposal began to accelerate noticeably. Since the July low, USDe has grown by about $1.05 billion — to $4.9 billion, i.e., roughly 27%. This is also confirmed by the current USDe capitalization data — about $4.89 billion.
And now a new factor: the yield has already reached 5%, and the share of capital allocated to perpetual strategies has increased from 1% to 20%.
So you get an interesting connection: higher yield → greater appeal of USDe → more supply → the scale of Ethena’s business grows.
That’s why I’m paying even closer attention to $ENA right now.
USDe is growing — and that’s probably one of the most important signals for $ENA .
After the return on $USDE crossed 4.5%, the proposal began to accelerate noticeably. Since the July low, USDe has grown by about $1.05 billion — to $4.9 billion, i.e., roughly 27%. This is also confirmed by the current USDe capitalization data — about $4.89 billion.
And now a new factor: the yield has already reached 5%, and the share of capital allocated to perpetual strategies has increased from 1% to 20%.
So you get an interesting connection: higher yield → greater appeal of USDe → more supply → the scale of Ethena’s business grows.
That’s why I’m paying even closer attention to $ENA right now.
USDe is growing — and that’s probably one of the most important signals for $ENA .
