Is Ethena going to became the most profit making crypto project?

4 April 2024


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According to José Maria Macedo, CEO of Delphi Labs and founding partner of cryptocurrency investment firm Delphi Ventures, Ethena Labs will become the highest revenue-generating cryptocurrency project on the market. Ethena Labs is one of the projects with the most potential for Delphi Ventures during this bull cycle, according to an April 2 post on Delphi Labs' Macedo blog, which explains: “sUSDe will offer the highest dollar return in crypto at scale. USDe will become the largest stablecoin outside of USDC/USDT in 2024. Ethena will become the highest revenue-generating project in the entire crypto industry.”

ENA's performances

ENA, the governance token of Ethena Labs' much-discussed Ethena protocol, has been among the best of the 24 hours, gaining more than 45 percent at the time of writing. This is a sign that despite the controversies and doubts involving the main project, demand has been strong.

Controversy that has also affected in the last few hours one of the so-called bluechips of the DeFi world, namely AAVE, cascading over DAI's decision to increase the underlying limits precisely related to the project's stablecoin.

On March 8, Ethena Labs became the highest-earning decentralized application (DApp) in crypto, offering a 67% annual percentage yield (APY) on USDe. Ethena launched its USDe synthetic dollar on the public mainnet on February 19. According to its homepage, Ethena's USDe synthetic dollar currently offers a 35.4% APY and over 118,000 users. The CEO's bullish forecast follows the launch of Ethena Labs' airdrop on April 2, which distributed $450 million worth of Ethena (ENA) tokens to eligible wallets.

SOURCE: CoinTelegraph


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