50m mcap and barely any inflation. It takes very little to own majority of the circulating supply. Matter of time that it will squeeze, especially with ETH going up solana:megaA5QDK1qLXtjpvg9oCFMvxT9d5BCMrVTBddnM5kV

Ena repricing is beautiful to see They are more primed than ever to win if we get a proper bull cycle Can capture funding rates on stocks and crypto now And all of defi is pre setup to max loop into usde Through the bear market they made it so much easier as well by removing basically all the fees on mint / redeem Note: dcf cap seeded @ethena

was thinking on supply dynamics for ethereum:0x57e114b691db790c35207b2e685d4a43181e6061 - 20% owned by $USDE - 30% is team allocation, I assume very little selling for them - 2-3% I think is owned by Janus Henderson (may be more, it's just conservative number) - 5% some long term investors that won't sell Real circulating float, after all unlocks should be 45-50% of total, that's real supply. On top of that: - a lot of TradFi is interested in Ethena - $USDE may do additional buys of ethereum:0x57e114b691db790c35207b2e685d4a43181e6061 in future - StablecoinX was one of the biggest DATs and overall ability to raise 500mln at that time says a lot about Ethena team and their connections - one of the best teams in crypto execution wise

Guy Young says the biggest winners of the neobank boom weren't the neobanks, but Circle and Tether "We looked at the pretty insane growth that we've seen in the segment of the market in terms of how many neobanks, and also just the growth in terms of user numbers and spend." "In some senses, the biggest beneficiaries of that weren't actually the neobanks themselves. It was kind of Circle and Tether." "They're all built on someone else's stablecoin, basically, and they were able to monetize the NIM and the float at Circle and Tether." "And for us, in an end state, we think that's a pretty unsustainable kind of revenue structure if you're losing what should be one of the largest revenue drivers within the business to someone else."

I genuinely believe we will never see $ENA at 7c again. The principal reasons for why it got there are gone: - VC unlocks - Staked USDe APY at parity to t-bills - Fee switch uncertainty If you’re thinking Oct 5 is going to give you a chance to buy ENA cheaper, I think that’s generally a fleeting opportunity: everyone else is thinking the same. The good thing is there is a way to get ENA 50% off today’s spot. I’ll let you figure out how…

markets turning yields positive creative delta neutral synthetic stablecoin expanding to equity and rwa perps launched self custodial neobaking app growing institutional partnerships dat backing flywheel on the cusp of fee switch activation sounds like a top 10 coin

I've been adding these last few weeks all profits into $ENA USDe doubles it's ATH in 2027 or I'm gay Also I dont give a shit about your unlock fud, see you guys in Singapore for Token2049

Sick yields on @RenzoAI rn, comfy to park some stables if you don't plan to do much with it Wondering how much the yield will be once the equity basis goes live ethereum:0x3b50805453023a91a8bf641e279401a0b23fa6f9

$TAO is gonna get its 1W cross by eow if we close above $235 - that's the level im watching if there is going to be any fakeouts around close volatility is at lows and looking to expand as well + wedge coming to apex. so far so good

I was too early with the narrative, sick to see it play out right now (mostly due to $ZEC) I'm not gonna pretend I sized a lot into this at the time I wrote it (small spot bag). I added a lot more at around 2 usd mark at the start of this month. Double digits coin imo. $ENA / $REZ next.