A prime crypto dealer thinks one Ethereum (ETH)-based decentralized finance (DeFi) token is an “apparent play” amid latest ETH developments.
The pseudonymous analyst often known as the Move Horse tells his 216,500 followers on the social media platform X that the governance token of Ethena (ENA) seems to be promising.
“Trying to go for spherical 2 of a shift within the tempo downward and potential turnaround.”
The Ethena Labs mission consists of the yield-earning “artificial greenback” token USDe. The mission goals to create a steady and scalable type of cash within the crypto house with out counting on conventional banking methods.
ENA is buying and selling at $0.848 at time of writing. The 83rd-ranked crypto asset by market cap is up practically 15% prior to now week.
The Move Horse notes that he primarily plans to deal with Ethereum, nonetheless.
“On an actual word. I already see a ton of individuals speaking about ETH beta. Have you learnt what most of my ETH beta shall be? Leveraged ETH.
Consider the filth that ETH was dragged by means of during the last 12 months, and the way surprising this was. There’s lots of catching as much as do, this isn’t priced in.”
This afternoon, the SEC accepted Ethereum ETF type 19b-4 filings from BlackRock, Constancy, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy.
Nonetheless, the approval of the corporations’ S-1 registration filings stays excellent.
ETH is buying and selling at $3,738 at time of writing. The second-ranked crypto asset by market cap is up practically 24% prior to now seven days.
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