Ethena USDe Don Pass $6.12B; ENA Jump Ahead of SPAC Listing
Ethena USDe stablecoin supply don surge reach record $6.12 billion, e push im native ENA token rally 40%. Daily ENA trade volumes don climb 60% reach $200 million, plus liquidity for major pools increase by 45% after dem protocol upgrades reduce minting fees. Ethena USDe dey maintain dollar peg through delta-hedging wey combine staked ETH (stETH) plus short perpetual futures, dey generate yield from staking rewards and positive funding rates. SPAC merger between TLGY Acquisition Corp. and StablecoinX, backed by $360 million PIPE financing, dey target Nasdaq debut under USDE ticker, fit bridge DeFi and traditional finance. Even though supply of USDe and token utility dey increase show say investors get confidence, traders make una dey watch funding-rate wahala, smart-contract risks and regulatory scrutiny. Main drivers for next weeks be USDe yield dynamics plus SPAC listing progress. Ethena USDe and ENA market cap now stand for $1.2 billion.
Bullish
Di rising Ethena USDe supply to $6.12 billion and di ENA token rally wey dey waka along show sey on-chain demand dey gidigba, protocol upgrade dey efficient, plus liquidity dey expand. Di delta-hedging mechanism dey give correct yields wey dey attract beta capital. Dem propose make dem list am for Nasdaq with ticker USDE, dis one go add correct institution cred and fit bring more money flow. Traders suppose dey careful small with funding rate wahala, smart contract risk, and regulatory tins, but di joined effect of record supply, token utility betterment, plus SPAC progress go likely keep ENA momentum dey galo for short and long term.