Expert predicts that Ethena (ENA) is poised to become the "LUNA of this cycle" with potential for a 20x return on investment.

Quick Summary:

Two things Luna wasn’t.” He also noted that at its zenith, Luna’s valuation exceeded ENA’s current market cap by more than twenty-fold, yet he cautioned, “ENA is not risk-free, custody and execution risk exist.” Ethena is the Luna of this cycle, except the underlying economics are actually sustainable.

She clarifies, "It appears Ethena is making many people who don’t trade derivatives have a really hard time wrapping their heads around the fact that derivatives traders are so genuinely retarded that we’re willing to pay like 50%+ APR to enter a position.” Related Reading: Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise Notably, last cycle crypto traders were bidding futures so high that Bitcoin quarterlies earned "a locked-in >50% apr.

However, MonetSupply adds, “the Binance/ceffu nexus might change this assessment though, are they actually independent? ” Ethena Entity Risk: The internal risk related to Ethena’s keys or authentication tokens being compromised, or a team member acting maliciously.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: United KingdomMali

Topics: Terra luna ENA Ethena Price Charles Edwards Ethena LUNA Ethena News Cryptocurrency Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-10 @ 14:00:20 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 540 words

Reading Time: 3 minutes read

Sentences: 43 lines

Sentence Length: 13 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 20662799

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Main Topics: Crypto

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