Top trader Eugene: Ethena has developed beyond expectations in the recent bull market and has raised the ENA target
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On November 23, top trader Eugene posted on social media that the circulating supply of USDe is now 37 billion, having increased by 12 billion in the past 6 weeks, and during this period, the yield of sUSDe has ranged from 10% to 25%. Deribit also accepts USDe as a recognized stablecoin collateral form. The Ethena fee conversion proposal has also been approved, and these fee conversions ensure that sENA holders are the primary beneficiaries of the protocol's success. These developments have exceeded the bullish expectations for ENA that were written in a paper two months ago, and the target price for ENA has been revised upwards.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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