$ENA is pumping like crazy right now, what’s actually going on ? 👇 - First, $USDe just pulled in nearly $2B in a week. That’s insane. You don’t see that kind of inflow in this market unless something serious is cooking. The main reason is sUSDe is paying 10% APY. People are
@Axel_bitblaze69 Wow Is $USDe looking to be the top stablecoin?
@thyBEAST20 yes
@Axel_bitblaze69 That loop strategy via sUSDe at up to 10% APY is clearly attracting intense new capital into USDe.
@Axel_bitblaze69 @MirraTerminal time to scout
@Axel_bitblaze69 At first it looked like $Luna for me ... but its collateral is atleast backed by real crypto assets like $BTC and $ETH ... + delta heding, the only thing that worries me is their reserve fond ... that should be 1 - 1,2% of $USDe market cap ... not its 0,5% ...
@Axel_bitblaze69 $ENA 🚀
@Axel_bitblaze69 Checkout stablecoinX. IPO upcoming. Strategic ENA reserve, aka access for tradfi.
@Axel_bitblaze69 $ENA's pump ties directly to $USDe's $2B inflows - synthetic dollar demand fuels governance token speculation. But that 10% sUSDe yield? Entirely dependent on perpetuals funding rates. Risky alchemy masked as DeFi innovation. Bullish until the music stops.
@Axel_bitblaze69 What stands out: $260M in scheduled buybacks. That’s not speculation, that’s hard supply pressure. CT’s right to pay attention.
@Axel_bitblaze69 Any APR on stables above aave's is incentivised. Ena token has no utility and is a VC shit coin. So good luck with that. Same garbage as TIA.
@Axel_bitblaze69 ath soon
@Axel_bitblaze69 nice breakdown Axel
@Axel_bitblaze69 Fuck this scam $ena.
@Axel_bitblaze69 Ena 👑
@Axel_bitblaze69 well said
@Axel_bitblaze69 The high apy i guess, but back then Luna also had high apy right ?