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Ethena Labs' native utility token, $ENA, has been making waves in the crypto market with a successful TGE, a significant trade facilitated by Archax, and a 45% post-launch surge. The token's market cap soared to $1.2 billion, and it is now a top 100 crypto asset. Despite positive momentum, concerns have been raised about Ethena's stability and risks associated with its protocol.
This is the scammy deceptive marketing I keep seeing from Ethena. Ethena did NOT earn $5.4mm in 1 week. They are keeping the yield from anyone holding USDe instead of sUSDe. Why does anyone hold USDe? Because they are incentivizing it with $ENA tokens. Ethena is essentially… https://t.co/IuCjNtes8J
The Pyth Network is excited to release its ENA/USD price feed. $ENA is the governance token of @ethena_labs, a synthetic dollar protocol on Ethereum (USDe). The Pyth ENA/USD price feed is now available on more than 50 blockchains. https://t.co/Jt9eFfBBsb
🚀 $ENA is now in gTrade’s orbit! Experience precision execution and up to 150x leverage, only on #gTrade. Trade now, at https://t.co/lLrWB5eRfL https://t.co/YedwcOpgM1