The stablecoin $USDE belonging to the Ethena Labs project.
It witnessed strange growth and strong interest a while ago when the market value was unable to exceed $3 billion... 🧵
👇
1/🧵
Currently, the market value of USDE equals more than $10 billion, making it the third strongest stablecoin after USDT and USDC. 😯
2/🧵
The strange and suspicious thing is that TVL increased by 92% last month.
As we know, in the crypto world, any project that grows at an incomprehensible pace ends up tragically, for example: $LUNA, $OM, and others.
...
3/🧵
Even the main currency $ENA .
It has witnessed continuous growth recently and reached a market value of $5.3 billion.
4/🧵
In this current quarter of the year, the project generated very beautiful profits reaching over $31 million.
But I don't see a clear reason for this incomprehensible growth in $USDE and $.
ENA
5/🧵
Despite the strong inflation of the currency, the price continued to rise.
And the interest of the Koreans in it and their purchases from major platforms like UPBIT and Bithumb against the official currency KRW.
Those who follow me know that I don't get excited about a coin that Koreans enter, especially UPBIT.
6/🧵
I hope there will be a continuation from the project and a clear reason for this incomprehensible rise and to maintain it.
Because we don't want to see interest and another rise more than this, ending up like LUNA.