Trader Eugene: Ethena's recent development has exceeded expectations, and the target price of ENA has been raised

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ChainCatcher
7 hours ago
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According to ChainCatcher's message, trader Eugene stated on the X platform that after adding 12 billion in circulation over the past 6 weeks, USDe currently has a circulation of 37 billion. Over the past 6 weeks, the yield of sUSDe has increased from 10% to 25%, and Deribit has accepted USDe as collateral for stablecoins. The fee conversion proposal of Ethena has also been approved, and these fee conversions ensure that sENA holders are the main beneficiaries of the protocol's success. These developments have exceeded the expectations for ENA from 2 months ago, and the target price for ENA has been adjusted higher.

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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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