BitMEX founder Arthur Hayes is predicting one new decentralized finance (DeFi) altcoin venture will take off on a large rally as soon as the broader crypto market resumes an uptrend.
Hayes is predicting that Ethena (ENA), a governance token launched by Ethena Labs for the venture’s DeFi protocol, might soar greater than 817% from the present worth.
Hayes is without doubt one of the traders within the venture together with funding large Franklin Templeton, digital asset supervisor Galaxy Digital and Binance Labs.
“Congrats Ethena Labs on a profitable TGE (Token Technology Occasion). If that is what ENA is price [when] the market is puking, think about how excessive it can go as soon as we resume up solely! ENA = $10. It’s simply math yo.”
ENA is buying and selling for $1.09 at time of writing, up greater than 25% within the final 24 hours.
The Ethena Labs venture additionally consists of the yield-earning “artificial greenback” token USDe. The venture goals to create a steady and scalable type of cash within the crypto house with out counting on conventional banking methods.
Quite a lot of crypto exchanges have listed the token for buying and selling, together with the world’s prime alternate Binance. Forward of the itemizing, ENA grew to become Binance’s fiftieth venture added to its Launchpool platform, which lets customers stake cash to farm new property.
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