ENA / $0.2359 -2.03% - The stablecoin that isn’t stable and isn’t a coin
$ENA Ethena $0.2359 -2.03% Synthetic dollars? Synthetic leeks then 💸
Project dossier: ENA, DeFi Hot—claims it wants to create USDe to overthrow USDT, but ended up dropping itself like a dog first.
Data: current price $0.2359, 24h high $0.2410, low $0.2279, volume 118.27M ENA / 27.64M USDT. Today +1.38%, 7 days -13.05%, 30 days +56.23%, 90 days +204.39%, 180 days +191.96%, 1 year -61.66%—a -61% year and you call it bullish? The chart is the most outrageous: on the 30th it was still at $0.2500 horizontally; on Oct 1 one big green needle shot it to $0.2800, then straight red waterfall down to $0.2400. From Oct 2–3 it kept drifting lower, grinding to a bottom around $0.2300; today it barely crawled back to $0.2359. That 3.06M volume candle is just retail folks catching the falling knife. 54.03% longs are still in faith-based “synthetic” mode.
Toxic take: ENA—others make stablecoins to stay stable; you make a stablecoin to seek thrills. Volatility is even bigger than MEME.
#ENA #ethena #defi
$ENA Ethena $0.2359 -2.03% Synthetic dollars? Synthetic leeks then 💸
Project dossier: ENA, DeFi Hot—claims it wants to create USDe to overthrow USDT, but ended up dropping itself like a dog first.
Data: current price $0.2359, 24h high $0.2410, low $0.2279, volume 118.27M ENA / 27.64M USDT. Today +1.38%, 7 days -13.05%, 30 days +56.23%, 90 days +204.39%, 180 days +191.96%, 1 year -61.66%—a -61% year and you call it bullish? The chart is the most outrageous: on the 30th it was still at $0.2500 horizontally; on Oct 1 one big green needle shot it to $0.2800, then straight red waterfall down to $0.2400. From Oct 2–3 it kept drifting lower, grinding to a bottom around $0.2300; today it barely crawled back to $0.2359. That 3.06M volume candle is just retail folks catching the falling knife. 54.03% longs are still in faith-based “synthetic” mode.
Toxic take: ENA—others make stablecoins to stay stable; you make a stablecoin to seek thrills. Volatility is even bigger than MEME.
#ENA #ethena #defi