Blockchain detective ZachXBT just shared that the Discord of the Ethereum synthetic dollar protocol known as Ethena. Zach has called on to users to not click any links that could be shared because they’ll likely lead to hacking.
Cryptopolitan reached out to the Ethena team for comments, but have received no response as of press time. Meanwhile, Ethena’s token ENA has been steadily performing terribly
It has seen a decrease of 3% in 24 hours and 47% in the past thirty days. ENA was launched on April 2 this year, and quickly gained attention by breaking into the top 100 cryptocurrencies by market capitalization.
The token reached an all-time high of $1.4775 on April 11th. Current data shows that ENA is trading at $0.3828, ranking #84 on CoinMarketCap.
The token has a market cap of $654,967,214, with 1,710,937,500 ENA coins in circulation with a twenty-four hour trading volume of $58,637,749.
Ethena’s main product is USDe, a synthetic dollar stablecoin that wants to provide a globally-acceptable dollar-denominated solution.
The protocol has a Total Value Locked (TVL) of $1.9 billion and offers an annual yield that could be as high as 35.4%. At least that’s what the team claims.
Ethena recently shared its roadmap for 2024 to become a unified currency layer. The plan includes integrating USDe across DeFi, CeFi, and traditional finance.
Ethena intends to aggregate liquidity across centralized and decentralized exchanges, using USDe as a connective tissue. The team has integrated its protocol with centralized exchange wallets, including Binance, Bybit, OKX, and Bitget.
This is a developing story
