#(2/2)Finally, let's talk about ENA's valuation
As a stablecoin project, the market value is closely related to the issuance of stablecoins. With the current market value of Bitcoin and Ethereum, if you want to maintain an annualized rate of more than 30%, you can issue about 5 billion, which directly catches up with the issuance of Dai. However, this round of Bitcoin has just begun to warm up. In the real bull market, Bitcoin doubles and Ethereum 10,000 is not a big problem. The corresponding issuance of usde can be expanded to 12 billion. There must be a lot of people who are long in the hot market, and the funding rate paid to short sellers has skyrocketed. The project party can ensure that the annualized rate is not less than 20% and the plate reaches 20 billion stablecoin issuance (not counting the leverage alone). 10 billion spot purchasing power is enough to pull a large wave of Bitcoin)
If the issuance volume reaches 20 billion, then the corresponding market value of ena will only be higher, not lower. Conservatively estimated at 1:1, the circulation market value of ena is about 20 billion (probably more than this), and the circulation volume is estimated to be within 3 billion. If it is calculated as 30, ENA can be conservatively estimated to reach 7U per unit
I post it casually, and I may not reply. The second phase of ena's airdrop activity has begun. You can support ena staking to get points. If you plan to hold ena for a long time, you can participate in it to avoid selling it and not being able to hold it
If you think my analysis is valuable and want to participate in the airdrop activity, just go to the official website to participate. Direct train http://app.ethena.fi/join/ihppv
Go directly to the official website to participate. It prompts that you need an invitation code and you can use ihppv
The first phase of the airdrop activity staking stablecoins will earn 100%+ a month. The second phase should not be that much, but it is mainly for free to accumulate ena. Don't miss it
