Analysis $ENA : The market is bustling amid the growth wave of USDe 📈
Recent price movements
The current price of ENA is trading at 0.7453 USDT, slightly down compared to 24 hours ago.
Daily fluctuation range: lowest 0.7442 USDT, highest 0.7595 USDT.
Trend over the past 24 hours: decreased from 0.7918 USDT to the current level, a drop of about 5.9%.
Highlight news 📰
USDe explosion: The supply of USDe (Ethena's stablecoin) surged by 3.7 billion USD in just 20 days, thanks to the PT-USDe rotation strategy implemented by Pendle and Aave.
Successful Liquid Leverage: Ethena Labs' new product attracted over 1.5 billion USD in capital inflow just one week after its launch.
Aave raises limits: Increased the limit for sUSDe to 350 million USD and USDe to 300 million USD, expanding the usability of Liquid Leverage.
ENA reached 0.837 USDT on 11/08, up 11.35% in 24 hours (according to Bitget data).
Market assessment 🧐
Despite the short-term adjustment, ENA still shows great potential thanks to: 1. USDe achieving a market capitalization of 10 billion USD in just 500 days, becoming one of the fastest-growing stablecoins in history. 2. Strong acceptance of the Liquid Leverage feature indicates high market demand. 3. Aave's increase in limits for USDe and sUSDe is a positive signal of confidence in the ecosystem.
However, some analysts remain cautious, comparing USDe to UST (Terra) in the previous cycle.
