The top whale on the Ethena points leaderboard has spent nearly 5 million USD to buy sUSDe YT tokens maturing on July 31 during the ENA price decline.
With the current APY of 9.74%, this investment could yield about 120,000 USD in interest per day and is expected to receive nearly 22 million ENA in the Season 4 airdrop, worth over 10 million USD.
MAIN CONTENT
Ethena whales bought 450 million sUSDe YT during the period of ENA price decline.
An annual interest rate (APY) of 9.74% can generate 120,000 USD/day.
Expected to receive 21.94 million ENA equivalent to 10.675 million USD from Season 4 airdrop.
Why are whales buying large quantities of sUSDe YT when the ENA price is plummeting?
According to chain analyst Aunt Ai (@ai_9684xtpa), the whale holding over 450 million sUSDe YT tokens during the ENA price drop from May 21 to June 3 is a strategy to seize investment opportunities that yield attractive returns.
This action demonstrates deep market experience, choosing low price points to accumulate assets with stable future profit potential through an APY of 9.74%.
How does the investment in sUSDe YT generate profits?
With the current APY rate of 9.74%, the amount of sUSDe YT close to 450 million tokens can generate approximately 120,000 USD in interest daily. This is significant passive income amidst cryptocurrency price volatility.
Investing in sUSDe is very effective as it provides stable interest rates, helping whales maintain a steady cash flow amidst the volatile cryptocurrency market.
Mr. Le Minh Quan, CEO of Alpha Cryptocurrency Investment Fund, 7/2024
What benefits will whales receive from Ethena's Season 4 airdrop?
According to the Season 4 airdrop regulations, holders with a minimum of 3.5% of the total Ethena supply will receive ENA tokens. This whale holds up to 839.5 billion points, 1.49 times that of the second place, and is expected to receive about 21.94 million ENA, equivalent to 10.675 million USD.
This helps reinforce the leading position on the points leaderboard and adds significant value to the sUSDe YT investment.
Benefits from the airdrop significantly increase the asset portfolio value of large investors in the Ethena ecosystem.
Nguyen Van Hung, Independent Blockchain Expert, 6/2024
Detailed data and comparisons of benefits between Ethena whales
Whale criteria leading in Position 2 Ethena points (YT included) 839.5 billion 565.3 billion Ratio compared to second place 1.49 times – Amount of sUSDe YT purchased 450 million (~5 million USD) Not disclosed Expected to receive airdrop ENA 21.94 million ENA (~10.675 million USD) Significantly less Current APY 9.74% –
Frequently asked questions
What is SUSDe YT and what role does it play in the Ethena ecosystem?
SUSDe YT is a maturity token used to optimize yields on the Ethena platform. It generates passive income thanks to an attractive APY rate.
What does the Ethena Season 4 airdrop signify?
The Season 4 airdrop rewards those who hold sufficiently high Ethena points, helping to distribute benefits fairly and encourage long-term holding within the ecosystem.
How to calculate daily returns from the amount of sUSDe YT?
Daily returns are calculated based on APY of 9.74% divided by 365 days, multiplied by the number of tokens held and the corresponding market price.
What advantages does having a high Ethena score provide?
High Ethena points mean significant airdrop rights and prestige in the system, creating a competitive advantage for large investors.
Is there a risk in buying sUSDe YT when the ENA price is falling?
Buying during a price drop requires thorough market analysis. However, with the experience of top whales, this is a strategy to take advantage of profit opportunities through stable yields.
Source: https://tintucbitcoin.com/whale-ethena-points-giu-gia-tri-lon/
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