Ethena's $750M Mirage: Follow the Supply, Not the Rewards
Hook USDe supply peaked at $3.6B in March 2024. Today it sits at $2.8B. That'...
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|---|---|---|
|
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|
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|
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|
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|
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Fear
Market Sentiment
Team and early investor shares released
92 million ARB released
Block reward halving event
Circulating supply increases by about 2%
Independent validator client goes live on mainnet
Block reward reduced to 3.125 BTC
Improves data availability sampling efficiency
Raises validator limit and account abstraction
Bitcoin Season
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Hook USDe supply peaked at $3.6B in March 2024. Today it sits at $2.8B. That'...