ENA's market value has already surpassed AAVE, and DeFi blue chips like Sky and Morpho have all been left behind.
Ethena DAT Company's StablecoinX has already reached $17, which is 3x compared to two weeks ago. At the same time, USDe's TVL increased by another $100 million within a week.
It’s worth noting that in August, the Ethena Foundation reached an agreement with its major investors: by early October, VC allocations will be unlocked ahead of schedule. The benefit is that there won’t be ongoing sell pressure afterward, but short-term pressure will increase.
Of course, it's also possible that the foundation will buy back these tokens via OTC. It has already done so once before, obtaining more than 0.25% of ENA's total supply.$ENA
Ethena DAT Company's StablecoinX has already reached $17, which is 3x compared to two weeks ago. At the same time, USDe's TVL increased by another $100 million within a week.
It’s worth noting that in August, the Ethena Foundation reached an agreement with its major investors: by early October, VC allocations will be unlocked ahead of schedule. The benefit is that there won’t be ongoing sell pressure afterward, but short-term pressure will increase.
Of course, it's also possible that the foundation will buy back these tokens via OTC. It has already done so once before, obtaining more than 0.25% of ENA's total supply.$ENA
