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Analysis $ENA : The market is vibrant amid the USDe growth wave 📈
Recent price movements
The current price of ENA is trading at 0.7453 USDT, slightly down from 24 hours ago
Daily trading range: lowest 0.7442 USDT, highest 0.7595 USDT
Trend over the past 24 hours: decreased from 0.7918 USDT to the current level, down approximately 5.9%
Highlights 📰
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 August 11, up 11.35% in 24 hours (according to Bitget data)
Market outlook 🧐
Despite a 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 reception for 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.
Recent price movements
The current price of ENA is trading at 0.7453 USDT, slightly down from 24 hours ago
Daily trading range: lowest 0.7442 USDT, highest 0.7595 USDT
Trend over the past 24 hours: decreased from 0.7918 USDT to the current level, down approximately 5.9%
Highlights 📰
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 August 11, up 11.35% in 24 hours (according to Bitget data)
Market outlook 🧐
Despite a 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 reception for 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.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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