Key recent narrative developments in SATS and Unisats
In the next two months at least, SATS will be one of the targets worthy of special attention in the BTC ecosystem. This article will review and sort out the changes in SATS.
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Ethena Labs' ENA Token Soars to $1 Billion Market Cap After Airdrop, Kicking Off 'Sats Campaign' – What's Next for Investors?
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Ethena Labs has swiftly risen to become the fifth-largest stablecoin issuer by market capitalization following the launch of its ENA token. The company achieved this feat within hours of distributing 750 million ENA tokens, equivalent to 5% of the total supply, to early adopters, resulting in a $1 billion market cap. Additionally, its USDe synthetic dollar boasts a market cap exceeding $1.6 billion.
Ethena's Shard Campaign Success: ENA Token Launch and Decentralization Milestone
The airdrop on Tuesday marked the culmination of Ethena's six-week Shard Campaign, incentivizing traders to post collateral in exchange for future ENA distributions. This successful campaign paved the way for the token's launch.
ENA is currently trading at $0.73, with a market cap of $1 billion, and is available on major exchanges like Binance, Bybit, and Kucoin. The token is positioned as a fundamental element of Ethena's governance structure and signifies the protocol's shift towards decentralization. The 5% of tokens distributed during the airdrop belong to the larger 30% allocation earmarked for Ecosystem Development.
ENA Price - Coingecko
Ethena's Season 2 Launch: Integrating Bitcoin Collateral and Expanding Opportunities with 'The Sats Campaign
April 2 also marks the commencement of Ethena's Season 2, dubbed "The Sats Campaign." This phase will incorporate Bitcoin as collateral alongside Lido's stETH, enabling Bitcoin perpetual futures and unlocking approximately $25 billion in open interest for delta hedging purposes. The campaign is slated to run for five months or until the USDe supply reaches $5 billion, with rewards extending to participants from Season 1.
Ethena's Ecosystem Expansion: Strategic Partnerships Enhance DeFi Offerings and User Opportunities
Moreover, Ethena has announced strategic partnerships to bolster its ecosystem. MakerDAO has allocated $100 million in DAI to Morpho pools, offering enhanced rewards for users depositing collateral. Pendle Finance will reopen its USDe Pendle pool, expanding its capacity to $100 million. Additionally, Ethena will integrate Mantle Network and Eigenlayer, providing users with additional earning opportunities in Sats and Eigenlayer points.
These developments underscore Ethena's commitment to fostering a robust and diverse decentralized finance (DeFi) ecosystem, positioning itself as a prominent player in the rapidly evolving crypto landscape.
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- JinseFinance
Will Ethena crash like UST? I don’t think so
Ethena's USDe will not collapse, but Ethena will produce marginal effects as the market size increases, and it is very likely that USDe's revenue will be infinitely close to zero.
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Ethena was launched on Binance on April 2 and performed well, attracting widespread attention in the cryptocurrency market. Among them, Arthur Hayes, an early investor, cheered for it on social media, further highlighting its potential influence in the market.
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Judging from the current market value rankings, ORDI and SATS are the undisputed leaders and second-tier players in BRC-20.
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Bybit has forged a strategic alliance with Ethena Labs, bringing forth Ethena's USDe stablecoin to the Bybit platform. USDe, a decentralised monetary solution, operates independently from traditional banking systems. It leverages delta-hedging staked Ether (ETH) for comprehensive collateral backing.
JoyIs BRC-20 Token SATS a Scam? We Think It's Likely.
Made as a memecoin, there is no immediate utility for the token, which makes its rise, together with other more familiar memecoins like DOGE and PEPE, particularly interesting.
Davin