USDe: Supported by institutional whales, how high can this wave of market, #ENA , go?
The number of profitable Bitcoin wallets reaches a new high
USDe uses a Delta-neutral model, achieving 1:1 capital efficiency with 'spot collateral + perpetual contract hedging', without relying on traditional banks. This model is more efficient than over-collateralization, with a TVL breaking $10 billion, making it the third-largest stablecoin, gaining market recognition.
Driven by dual engines, APY for staked assets (like stETH) offers an annual interest of 4% - 5%, allowing for arbitrage on bearish positions in a bull market. The combined APY for sUSDe reaches 10.5%, forming a cycle of 'interest rate rise → strong demand → increased TVL → high yields'.
The ecological entity StablecoinX is listed on NASDAQ through SPAC, raising $360 million to buy back ENA and lock it up; the Ethena Foundation completed a $260 million buyback in 6 weeks, reducing short-term circulation by 26%, demonstrating high efficiency.
On-chain assets like Aave can be used as collateral, offering strong composability; collaboration with Telegram to test payments has the potential user base in the hundreds of millions; re-staking empowers and secures USDe across chains while increasing returns.
Arthur Hayes is optimistic, predicting that when USDe's market share reaches 25%, ENA will increase 51 times, with institutions like Pantera participating in financing. On-chain whales have increased their holdings by over 3.1 million ENA in the past 7 days, with a cost of about $0.69, indicating long-term optimism.
In terms of operations, those already holding should continue to hold, targeting 0.85 or a new high; for those not holding, it is advisable to lightly enter near 0.62-0.63 on a pullback, with a target of 0.85 or a new high!
Next, I will continue to layout the godly orders. Instead of blindly exploring and failing to capture the best entry and exit points, leading to losses, it’s better to follow me; those who agree can come directly.
