Charles Edwards, the founder of Capriole Investments, has sparked significant interest and debate within the cryptocurrency community. He heralded Ethena (ENA) as “the Luna of this cycle,” but with a crucial difference: its economic fundamentals are deemed sustainable. Edwards elaborated, “It’s 100% collateralized and the yield is variable based on market forces. Two things Luna…
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Ethena Labs has revealed its latest strategic move: the inclusion of Bitcoin (BTC) as collateral for its synthetic dollar-pegged product, USDe. This decision, aimed at significantly scaling the product’s supply from its current $2 billion, capitalizes on the burgeoning BTC derivative markets for enhanced scalability and liquidity in delta hedging practices. Ethena Labs’ ambitious goal…
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Ethena Labs’ new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market. The spike in ENA’s price to approximately $0.96 has catapulted its market capitalization to nearly $1.34 billion, ranking ENA as the 80th largest cryptocurrency by market cap. This ascent followed Ethena’s strategic distribution…
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