Ethena, ENA And USDe Will Likely Create Wealth

Ethena, ENA And USDe Will Likely Create Wealth

Ethena’s new governance token ENA goes live as airdrop and on CEXs on Tuesday 2 April.

Ethena is a very interesting and relatively new stablecoin project. The stablecoin is called USDe and the way that it maintains its peg to the US dollar is by shorting ETH perpetuals, while being long staked ether. 

This means that they are delta hedging their staked ether position 1:1 so that it retains the value of one US dollar at all times. At the same time, since they are simultaneously earning money both on their staked ETH and on the short positions.  

On Tuesday April 2nd when Ethena’s governance token ENA goes live, Moon trines Jupiter. Venus is exalted in Pisces, 12th from vakri Budha, Mercury, who due to retrograding is also partially in Pisces, activating a Neech Bhang Yoga with Venus. 

This looks nice. Rahu and Sun are closely conjunct, which is powerful, as we are currently in eclipse territory. 

Surya Dev the Sun rules the banking sector.

Ethena wants to create an alternative to the banking system by offering a stablecoin which operates completely independent from the banking system on which other stablecoins such as as Tether’s USDT rely to custody their reserves. Rahu being conjunct the Sun in the 12th sign of Pisces while Mercury and Venus are forming a Neech Bhang Yoga looks really promising for Ethena in the context of an Ethereum bull market.

Ethena’s USDe looks like a DeFi native stablecoin solution which can be very successful and make DeFi natives a lot of money, as long as the Ethereum network is in a healthy state. Ethena states on their webpage that their long position is currently all in Lido stETH.  

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