Viral crypto

What a strong opening 🎉
#W #Wormholecoin #BullorBear #BinanceLaunchpool

Binance will list Ethena (ENA) at 16:00 on April 2, 2024 (Eastern Eight District Time), and open the ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading markets. Today we will objectively analyze the project background, financing, business, etc. of Ethena (ENA), and make a prediction on the price of the upcoming #ENA token for your reference.
Ethena is a synthetic dollars protocol built on Ethereum that will provide a crypto-native solution for currencies that do not rely on traditional banking system infrastructure, while providing a globally accessible U.S. dollar Denominated savings instrument - "Internet Bond".
Ethena Labs' current main product is the Delta-neutral synthetic dollar (USDe). The creative inspiration of this product comes from Arthur Hayes, the founder of BitMEX. In March 2023, Arthur wrote an article titled "Dust on Crust", in which he talked about his idea of a new generation of stablecoin "Satoshi Dollar", which is to create a stablecoin supported by equal amounts of BTC spot longs and futures shorts.
Ethena Labs implemented Hayes' idea, but with ETH as the underlying asset. USDe is based on equal amounts of spot ETH and futures ETH short collateral. The two hedge each other to become a Delta-neutral stable asset. Delta neutrality means that USDe's collateral casting position is basically unaffected by ETH price changes, thereby ensuring the reliability of the asset.
Analysis and Price Prediction of Ethena (ENA) Project Coming to Binance with a $300 Million Valuation
Binance will list Ethena (ENA) at 16:00 on April 2, 2024 (Eastern Eight District Time), and open the ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading markets. Today we will objectively analyze the project background, financing, business, etc. of Ethena (ENA), and make a prediction on the price of the upcoming #ENA token for your reference.
Ethena background
#Ethena is a synthetic dollars protocol built on Ethereum that will provide a crypto-native solution for currencies that do not rely on traditional banking system infrastructure, while providing a globally accessible U.S. dollar Denominated savings instrument - "Internet Bond".
Ethena Labs' current main product is the Delta-neutral synthetic dollar (USDe). The creative inspiration of this product comes from Arthur Hayes, the founder of BitMEX. In March 2023, Arthur wrote an article titled "Dust on Crust", in which he talked about his idea of a new generation of stablecoin "Satoshi Dollar", which is to create a stablecoin supported by equal amounts of BTC spot longs and futures shorts.
Ethena Labs implemented Hayes' idea, but with ETH as the underlying asset. USDe is based on equal amounts of spot ETH and futures ETH short collateral. The two hedge each other to become a Delta-neutral stable asset. Delta neutrality means that USDe's collateral casting position is basically unaffected by ETH price changes, thereby ensuring the reliability of the asset.
On the other hand, after ensuring asset stability, Ethena generates interest for #USDe in two ways:
Pledge income from spot positions. Ethena Labs supports staking spot ETH through LSD protocols such as Lido, thereby obtaining an annualized return of 3% to 5%.
Short funding rate gains. Although the funding rate is more volatile, in the long term, shorts are the party that earns positive funding fees. Ethena obtains higher but more volatile returns through this method, which currently ranges from 5–20%.
Ethena’s synthetic U.S. dollar, USDe, is fully transparently supported on-chain and freely composable in DeFi. Ethena was built to solve the biggest, most obvious immediate need in crypto.
Ethena Financing Status
On February 16, 24, Ethena Labs completed a $14 million strategic round of financing with a valuation of $300 million. Dragonfly, Brevan Howard Digital and Maelstrom, the family office of BitMEX founder Arthur Hayes, jointly led the investment, and PayPal Ventures, Franklin Templeton, Avon Ventures, Binance Labs, Deribit, Gemini and Kraken participated in the investment. This round of financing adopted the structure of simple agreement for future equity and token warrants.
On July 17, 2023, the crypto startup Ethena completed a $6 million seed round of financing, led by Dragonfly, and supported by trading platforms such as Deribit, Bybit, OKX, Gemini and Huobi, as well as BitMEX founder Arthur Hayes and his family office.
Ethena Protocol Risk Points
Last October, Austin Campbell, a professor at Columbia Business School and founder and managing partner of Zero Knowledge Consulting, published an article dismantling the design structure of USDe. Austin pointed out in the article that he prefers to call USDe a "structural note" rather than a stable currency, and analyzed USDe's four layers of potential risks:
The first is the security risk at the pledge level. Whether the security and sustainability of the pledge nodes can be guaranteed;
The second is the security risk of futures contract opening platforms. Whether it is DEX or CEX, there is the risk of hacker attacks;
The third is contract availability risk. Sometimes there may not be enough liquidity to conduct short selling;
The fourth is the funding rate risk. Although the funding rate for short positions is positive most of the time, there is also the possibility of turning negative. If the comprehensive rate of return after the weighted pledge income is negative, for "stablecoins" it is Quite deadly.
ENA Token Price Estimates
Based on calculations based on previous Binance Launchpool new mining #BNB pools, the average annualized rate of return for the first ten periods is 123%. Assuming that the annualized rate of return for this mining is also 123%, according to mining Calculated in 3 days, the price of the ENA token is 0.45 USDT. Calculated based on AI’s minimum yield of 0.18%, the guaranteed price is 0.18 USDT.
Based on a total token supply of 15 billion, when the price reaches 0.45 USDT, the FDV is $6.75 billion. In the current pre-market trading market, Aevo has given a higher price to ENA of about 0.65 USDT, which corresponds to an FDV of up to $9.75 billion.
In addition, as the price of BNB rises rapidly, it is difficult for new mining yields to maintain the previous high level. #ETHFI⁩ has even hit the lowest yield in the past ten periods. However, after the initial chip sell-off, ETHFI has faced There was a rapid and violent rise.
It is also based on the strong trend of ETHFI that first declined and then rose. At present, relatively radical investment experts in the OTC community are generally optimistic about the mid-term trend of ENA, and even gave a higher estimated price of 2 USDT, so everyone may wish to hold on appropriately. If you have chips, don’t be too busy selling.
Looking ahead, there are several other key things to keep an eye on surrounding Ethena Labs, in addition to the $14 million in funding it just closed.
The first of these is naturally the public launch of the product and the disclosure of the relevant token economic model.
Second, Seraphim, Lido's previous external "face" and head of expansion, has moved to Ethena Labs as head of growth, which may help promote Ethena Labs' product integration.
Third, Binance Labs has included Ethena Labs in the first batch of incubation projects in Incubation Season 6, which may also be a major boost to Ethena Labs' accelerated growth.
Challengers on the stablecoin track have come and gone, and I hope that this time, Ethena Labs and USDe will bring a different story.$eth #BinanceLaunchpool #BinanceLaunchpool #writetoearn #ethena

🚨Alert Investors 🚨
$ETHFI with the 40% bullish rate and price 7$ is shocking every one🥵🤑
ETHFI, also known as Ethereum Finance, is a decentralized finance (DeFi) cryptocurrency built on the Ethereum blockchain. It aims to revolutionize traditional financial services by providing users with access to various financial instruments, such as lending, borrowing, and trading, without the need for intermediaries like banks.
Key features of ETHFI include smart contracts, which enable automated and trustless transactions, as well as liquidity pools that allow users to participate in decentralized exchanges and earn rewards through providing liquidity.
The ETHFI coin serves as the native utility token of the Ethereum Finance ecosystem, facilitating transactions, incentivizing network participation, and enabling governance decisions through voting mechanisms.
Investors and users interested in participating in the DeFi space may consider researching ETHFI and its associated platforms to understand its potential risks and rewards, as well as its role within the broader cryptocurrency market.
#ETHFIonBINANCE #ETHFI

What Will Happen to ETH’s Price If the SEC Rejects All Spot Ethereum ETF Applications?
$ETH #Ethereum✅
After a decade of waiting, rejecting, and delaying at best, the United States Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs at the start of 2024.
Their impact on BTC’s price has been undeniable as the demand for those products among traditional investors has skyrocketed. Now that there are existing exchange-traded funds tracking the performance of at least one cryptocurrency, the community speculates on whether there will be a follow-up, particularly with ETH.
The ETH ETF Applications
Numerous companies within and outside of the cryptocurrency industry want to follow the example with Bitcoin and have products tracking the performance of the second-largest digital asset. Perhaps the two biggest names with current applications with the SEC are BlackRock and Fidelity. However, the regulator keeps delaying making a decision on either of their filings.
Amid the latest SEC delays, industry experts started questioning the agency’s motives and drew comparisons with how the watchdog operated before rejecting countless BTC applications throughout the past ten years. As such, the overall optimism around the ETH ETF applications started to wind down in recent weeks despite previous predictions that the Commission will approve all filings in May 2024.
The most recent analyses on the matter suggest that the SEC plans to reject all spot Ethereum ETF applications that have due dates in May.
Impact on ETH’s Price?
While the community keeps speculating on whether potential Ethereum ETFs will be a flop compared to BTC ETFs, we decided to ask Perplexity – the popular ChatGPT alternative – about what would happen to ETH’s price if the SEC indeed rejects all current proposals. Interestingly, the AI chatbot believes the agency’s decision, no matter what it will be, won’t have such a big impact on ETH, at least in the short term.
“If the SEC rejects all spot Ethereum ETF applications, the impact on ETH’s price may not be as significant as initially anticipated. Analysts and experts suggest that whether the ETFs are approved or rejected, it may not have a substantial effect on the altcoin’s price in the short term.”
This theory could have some merit, given the BTC ETF rejections in the last ten years. Bitcoin became immune to the SEC’s actions after so many rejections. However, the Ethereum case is quite different since the asset doesn’t have such a long history with the regulator.
Additionally, once the Commission greenlighted all Bitcoin ETFs, the underlying asset’s price went on a massive rollercoaster in the next few weeks. Once the demand and inflows increased, so did BTC’s price. The vice-versa effect is also visible, as we have seen in the past week.

3 AltCoins Turn 10$ to 1000$ in 2024 🚀
Certainly! Let's explore some promising altcoins that have the potential to turn a modest $10 investment into an impressive $1,000 by 2024. Keep in mind that investing in cryptocurrencies carries inherent risks, and market conditions can change rapidly. Here are a few altcoins to consider:
1. Terra Classic (LUNC):
   - Despite facing challenges, LUNC is currently witnessing a resurgence within the bullish trend of the cryptocurrency market.
   - Its price is around $0.0001527¹.
   - Binance's strategic moves, including burning LUNC tokens and introducing new trading pairs, have invigorated trading activities.
   - If the current bullish momentum continues, LUNC could approach the $0.02 resistance level¹.
2. Shiba Inu Coin (SHIB):
   - SHIB has rapidly climbed the ranks within the decentralized finance ecosystem.
   - Over the past seven days, it appreciated by 28%, and over the last month, its value skyrocketed by 262%.
   - Currently priced at around $0.00002713, SHIB recently surpassed a $15 billion market capitalization¹.
3. XRP:
   - XRP's innovative ledger sets a high standard for blockchain technology.
   - Although its price is currently $0.61378331, it remains a strong contender for growth¹.
Remember to conduct thorough research and consider your risk tolerance before investing in any cryptocurrency. The crypto market can be volatile, so diversify your investments and stay informed about market trends¹.
❤️
#HotTrends #BTC #ETH

Bitcoin Slips to $65K Amid Stronger Dollar, but Analyst Says the 'Pullback Is Over'
Bitcoin slipped 5% below $65,000 Thursday, with the U.S. dollar resurging amid the Swiss central bank's interest rate cut.
XRP, FIL and ICP defied the slump, while SOL and AVAX declined.
Bitcoin completed its correction by rebounding from $60,000 Wednesday and targeting "much higher levels" in the next phase of the uptrend, Swissblock analyst said.
Bitcoin {{BTC}} slid lower Thursday amid a stronger U.S. dollar, giving up some of the advances from Wednesday's spectacular bounce spurred by a dovish tone from the Federal Reserve.
BTC dropped some 5% to as low as $64,600 by late afternoon UTC hours from above $68,000 at the start of the day. The broad-market CoinDesk 20 Index (CD20) declined 3.5% from its daily high, as altcoins generally outperformed bitcoin during the day.
Payment network Ripple's native asset {{XRP}}, decentralized data storage platform Filecoin's crypto {{FIL}} and the Internet Computer's token {{ICP}} advanced 6%-7% over the past 24 hours.
Native tokens of layer 1 networks Solana {{SOL}}, Avalanche {{AVAX}} and Aptos {{APT}} lost 2%-3% during the same period.
Bitcoin's weak price action was perhaps due to the resurging U.S. dollar after the Swiss central bank, in a surprise move, cut interest rates by 25 basis points, erasing all of Wednesday's steep drop when Fed Chair Jerome Powell hit a dovish tone despite higher-than-expected inflation readings.
The U.S. dollar index (DXY), which measures the U.S. dollar's strength against other major currencies and a stronger dollar usually weighs on asset prices.
The move was perhaps due to market participants expecting that some other key central banks could start lowering interest rates before the Federal Reserve, macro analyst Michael Kao noted on a social media post.
Musings of the Day, 3/21/24:Despite JPOW’s Rhetorical Pivot, the data in coming weeks/months present a good likelihood that he punts again in June.Perhaps USD resurgence today following surprise SNB cut is a hint that RoW will still Out-Dove the Fed. pic.twitter.com/uREhsB2jhL
— Michael Kao (@UrbanKaoboy) March 21, 2024
Market analytics firm Swissblock said that bitcoin completed its pullback before Wednesday's bounce, reaching almost their target price of $58,000-$59,000 when they called for an imminent cool-off phase last week.
"Now much higher levels (are) coming," Swissblock analyst Henrik Zeberg said in a Thursday market update. He added that altcoins and bitcoin miners will perform "tremendously well" in the next phase of the uptrend.
Crypto trader Jelle noted that the bottom for the correction is in until BTC holds the $65,000 level. He added that it could consolidate for a while in the current price range and needs to break above the $69,000 price level – the market cycle peak in 2021 – to reignite its rally to higher prices.$BTC

The Ethereum Foundation – the Swiss non-profit organization at the heart of the Ethereum ecosystem – is under investigation by an unnamed "state authority," according to the group's website's GitHub repository.
The scope of the investigation and its focus was unknown at press time. According to the GitHub commit dated Feb. 26, 2024, "we have received a voluntary enquiry from a state authority that included a requirement for confidentiality."
The Ethereum Foundation did not return a request for comment.
The investigation comes during a time of change for Ethereum's technology. Ethereum is the second-largest blockchain by market cap after Bitcoin, launching in 2015 following an initial coin offering for the chain's native ETH token. Earlier this month, the chain underwent a major technical upgrade, dubbed Dencun, designed to bring down transaction costs for users of Ethereum-based layer-2 platforms.
Meanwhile, in the U.S., investors await an outcome on the prospects of an Ether ETF, which faces a final deadline in late May for some applications.
Previously, the Ethereum Foundation's website contained the following disclosure:
"The Ethereum Foundation (Stiftung Ethereum) has never been contacted by any agency anywhere in the world in a way which requires that contact not to be disclosed. Stiftung Ethereum will publicly disclose any sort of inquiry from government agencies that falls outside the scope of regular business operations."
That footer was removed in the Feb 26, GitHub commit along with the website's warrant canary, according to the changelog.
A warrant canary is usually some form of text or visual warning (like a colorful bird, in the case of the Ethereum Foundation), which some companies include on their websites to indicate they've never been served with a secret government subpoena or document request.
If a government agency does request information, the company may remove the text, suggesting they received the request without explicitly saying so.
The Ethereum Foundation's warrant canary was previously removed in 2019 in error and was quickly added back to the website.
Possible explanations
An attorney familiar with the situation said a Swiss regulator may have served a document request to the Ethereum Foundation and may be working with the U.S. Securities and Exchange Commission (SEC).
"I also think it's fair to say the Ethereum Foundation is not the only entity that they are seeking information from," the attorney told CoinDesk, saying other overseas entities are receiving scrutiny.
The SEC is evaluating multiple applications for an Ether ETF, but analysts following the process are becoming less optimistic that any such applications will be approved by the federal regulator, citing a lack of engagement between applicants and SEC officials.
"Any rumors of any activity" that the SEC and its overseas counterparts are engaging in may be correlated with the May 23 deadline the SEC faces, the$ attorney said. #Ethereum✅

Ether ETFs Likely Won't Get Approved in May, Bloomberg Analyst Predicts
Bloomberg analyst James Seyffart believes a spot ether exchange-traded fund won't get approved in May.
Seyffart and his colleague had previously seen a 35% chance that one or more of the issuers will receive a green light.
Odds that spot ether ETFs will get approved in May have gotten slimmer, according to a Bloomberg ETF analyst who cited U.S. regulators' seeming lack of engagement with potential issuers over the products.
“We now believe these will ultimately be denied on May 23rd for this round,” Bloomberg Intelligence ETF analyst James Seyffart wrote in a post on X on Tuesday. Seyffart and his colleague Eric Balchunas had previously given 35% odds for approval in May.
The Securities and Exchange Commission postponed a decision on a spot ether exchange-traded fund previously, but it will have to make one by May 23, as that is the final deadline for one of the applicants.
Currently, seven issuers are hoping to launch an ether fund: BlackRock, Fidelity, Invesco with Galaxy, Grayscale, VanEck, 21Shares with Ark, and Hashdex.
Seyffart noted that the SEC hasn't gone back and forth with issuers over the spot ether ETF, a contrast to the extensive discussions that took place before spot bitcoin ETFs were approved in January.$ETH $BNB

#ETHFI⁩ #ETHFI⁩ $ In recent years, decentralized finance (DeFi) has emerged as a transformative force within the cryptocurrency space, offering users unprecedented access to financial services without the need for traditional intermediaries. Ethereum, with its smart contract capabilities, has been at the forefront of this movement, enabling the creation of a myriad of DeFi protocols. However, accessing these DeFi platforms efficiently and securely has been a challenge for many users, often requiring multiple transactions and interactions with various protocols.

Enter ETHFI, a groundbreaking project that aims to bridge the gap between Ethereum and DeFi on Binance, one of the world's leading cryptocurrency exchanges. ETHFI is not just another DeFi platform; it is a comprehensive ecosystem designed to streamline access to DeFi protocols for Binance users, offering a seamless and user-friendly experience.

At its core, ETHFI leverages the power of cross-chain interoperability to enable users to interact with Ethereum-based DeFi protocols directly from the Binance Smart Chain (BSC) ecosystem. By bridging these two blockchain networks, ETHFI opens up a world of possibilities for Binance users, allowing them to access a wide range of DeFi services without leaving the Binance platform.

One of the key features of ETHFI is its intuitive user interface, which simplifies the process of interacting with DeFi protocols. Whether users are swapping tokens, providing liquidity, or participating in yield farming, ETHFI provides a seamless and intuitive experience, making DeFi more accessible to mainstream users.

Furthermore, ETHFI prioritizes security and reliability, implementing robust security measures to protect user funds and ensure the integrity of transactions. Through smart contract audits, rigorous testing, and continuous monitoring, ETHFI aims to provide users with peace of mind when engaging with DeFi protocols.

Another notable aspect of ETHFI is its commitment to decentralization. Unlike centralized exchanges that act as intermediaries between users and their funds, ETHFI operates as a decentralized platform, giving users full control over their assets at all times. By empowering users with sovereignty over their funds, ETHFI embodies the core principles of DeFi, fostering a more inclusive and equitable financial ecosystem.

Moreover, ETHFI is community-driven, with governance mechanisms in place to enable users to actively participate in the decision-making process. Through decentralized governance, ETHFI aims to ensure that the platform evolves in a way that aligns with the interests of its users, fostering a vibrant and collaborative community.

In conclusion, ETHFI represents a significant step forward in the evolution of DeFi, bringing the benefits of Ethereum-based protocols to the Binance ecosystem. With its user-friendly interface, robust security measures, commitment to decentralization, and community-driven approach, ETHFI is poised to revolutionize the way users access and interact with DeFi on Binance. As the DeFi landscape continues to mature, platforms like ETHFI will play a crucial role in shaping the future of finance, empowering users around the world to take control of their financial destinies.