ENA (ENA)

Here's what happened @ethena in March: • @krakenfx enabled USDe rewards, becoming the first US exchange to offer Ethena-powered savings. • Launched a dedicated ecosystem environment on @aave V4 with two Spokes, more than any other ecosystem. • @privy_io integrated Ethena-powered savings into its wallet infrastructure, bringing access to 120m+ accounts. • Went live on @WalletConnect Pay, enabling merchants to accept USDe at checkout. • $2m+ in USDe rewards distributed to traders on @etherealdex and @hyenatrade. • @etherealdex crossed $120m in open interest backed by USDe. • @hyenatrade crossed $3b in total volume. • Crossed $150m+ in total Ethena Whitelabel stablecoin supply across three native stablecoins. • @BasedOneX confirmed a portion of their token supply will go to sENA holders. • Reduced sUSDe unstaking period from 7 days to 1 day. • Added USDe as collateral on @Compound_xyz V3. • Added fixed-rate borrowing for PT-sUSDe on @lista_dao for $USD1 and $U. • @KappaLab_io listed an open-term USD

$ENA chart I haven't opened for a long time, it has dropped 90% in the last 6 months. The bad side is there are altcoins in even worse condition. May God give patience to altcoin investors. When the time comes, while building a portfolio, you need to think about the coins to add 1,000 times, and when the time comes, sell without any remorse. Altcoins are never products to hold for years; the real strategy should be to accumulate BTC with profits from altcoins. Over time, everyone learns this lesson the hard way. I also learned it the hard way.

ethena generated $666m in annual fees on a $780m market cap. price-to-fees ratio of 1.17x. the fee switch isn't even turned on yet. $50m revenue in a single day on march 26. 88% of USDe backing shifted to t-bills, blackrock BUIDL reserves, first GENIUS-compliant stablecoin. they're licensing the entire stack to new chains as white-label stablecoins. jupUSD, USDm on megaETH, suiUSDe all running on ethena infrastructure. $131m deployed and growing. every new L1 and L2 launching with an ethena-backed dollar is permanent demand for USDe collateral. ENA holders currently receive zero percent of that $666m. the moment that fee switch activates at even 50% share, that's $333m flowing to stakers on a token priced under 10 cents. do the math on that yield at current market cap