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Bonk Eco continues to show strength amid $USELESS rally
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Boop.Fun leading the way with a new launchpad on Solana.
-USDe offers real yield (around 10% APY), fueling explosive growth as the third-largest stablecoin.
-Ethena’s TVL nearly doubled recently, reaching $9B, showing strong investor interest.
-Stablecoin X, backed by Ethena, is raising $360M, with $260M allocated for daily ENA buybacks, supporting ENA’s price and ecosystem.
-These buybacks (~$5M/day, ~8% of supply over 6 weeks) counter token unlocks.
$ENA looking good here.
Aug 9, 13:33
$ENA bull case
- stablecoin narrative
- eth/defi narrative (eth beta)
- buybacks of token
- safe & decent yield as rates get cut
- stablecoinX treasury stock buying ena
—> consider how hard tradfi aped circle
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