Everyone’s watching $CRCL and USDC right now because of the Genius Act…
but I feel like nobody’s talking about what’s about to happen with $ENA.
If we get rate cuts, Circle takes the hit (their yield dries up).
Ethena? That’s when it actually shines.
Lower rates = more demand
Ok, why did pump choose to do a token?
1) Extractive - they feel market is peaking for them, get as much juice out as possible
2) Pushed by investors who want a quicker exit than just an illiquid equity position, more willing to invest at 4b FDV / 1b raise with a token attached
Have we run so dry on bearish narratives that we're convincing ourselves that pumpfun launching a coin is bearish pepe, fartcoin etc instead of admitting that its probably just kneejerk trump/melania ptsd?
the bullish thesis on USDe side of things for ENA is simple:
rates will be cut
that means US treasury yields (APR) will go down.
That means less money to be made by normal stablecoin issuers (tether, circle) who keep the yield for themselves
Less money for USDS (which gets
bearish case for PUMP is that this drop in revenue is sustained.
Right now it's annualising revenue is around 200m based on past 2-3 days, previously (and consistently) it was above 400m.
That will then reflect in the token valuation.
Lets sat 30% is floated at TGE (15% public
The first version of Coinbase launched with just a hot wallet - a risky proposition. We were in beta and the app prominently told people not to store any money there they couldn't afford to lose. But the amounts of deposits kept steadily rising.
I realized we needed to build
basically raydiums launchpad is getting traction now
both bonk and ray going for pump
(pump shouldn't have created pumpswap tbh, it forced raydium's hand)
Clear trend in capital flight from UK / to UAE
Investing in real estate / setting up freezone companies + golden visas aside how would you profit from this?
All other methods valid
its so funny to see peoples cope to the numbers "20% to the team? wtf man they already made so much money" yeah but why not make more like wtf you think people are doing when starting a business? tell musk to give up all shares or equity of tesla and co because "he already has