New Ethereum-Based Altcoin Just Listed on Binance To Explode Over 800%, Predicts BitMEX Founder Arthur Hayes

BitMEX founder Arthur Hayes is predicting one new decentralized finance (DeFi) altcoin undertaking 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 undertaking’s DeFi protocol, may soar greater than 817% from the present worth.

Hayes is among the traders within the undertaking together with funding big Franklin Templeton, digital asset supervisor Galaxy Digital and Binance Labs.

“Congrats Ethena Labs on a successful TGE (Token Generation Event). If this is what ENA is worth [when] the market is puking, imagine how high it will go once we resume up only! ENA = $10. It’s just 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 undertaking additionally consists of the yield-earning “synthetic dollar” token USDe. The undertaking goals to create a secure and scalable type of cash within the crypto area with out relying on conventional banking techniques.

Plenty of crypto exchanges have listed the token for buying and selling, together with the world’s prime trade Binance. Forward of the itemizing, ENA grew to become Binance’s fiftieth undertaking added to its Launchpool platform, which lets customers stake cash to farm new property.

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