I have opened a spot long trade on $2Z - seeing a lot of chatter and expect this to do 2-3x based of the Hype dat news and other fundamental updates.
Jump owns a big chunk of the supply and unlock is in a few days. If you don't know, bullish unlocks are a thing again.
Send it flashily alongside $Ena
Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch.
This expands the addressable market of underlying collateral from $2.5 trillion of crypto to $150 trillion+ of real-world assets.
As part of the partnership, bStocks will serve as tokenized spot collateral, hedged with Binance USDT-denominated equity perpetuals - the same delta-neutral structure Ethena has securely executed across crypto assets since inception.
Importantly, Binance provides lower ADL priority for eligible delta-neutral accounts including Ethena's, adding another layer of risk mitigation for USDe holders.
Binance equity basis has averaged ~11%+ annualized over the past 6 months, while open interest has grown on average ~30% per month in the last 3 month period.
We expect the market opportunity size for equity perpetuals to far exceed the $15b+ of crypto perpetuals captured by Ethena last cycle.
Allocations begin today.
Crypto is a miserable market 90% of the time
And it's absolutely godlike 10% of the time
Knowing this why the fuck are so many of you trying so hard to be miserable 100% of the time
Just enjoy when this shit pumps
It won't be good forever
It's simply a brief window of bliss
The job of $ENA mm is to test your faith in the coin.
I sniped bottom on $Lit and $Pump but they shook me out on both.
on $ENA - they can't and they won't.
1/ Huge respect for Dragonfly continuing to invest in the bear market.
But I'm morally obliged to call out sketchy projects gaining momentum.
As a community we must preempt large scale implosions like #FTX or #LUNA that set the industry back years
Bitget may be the next FTX 🧵
I know Arthur local topped it, but $ENA looks quite decent here after the small throwback.
One of the most stacked roadmaps among the majors.
Next leg is coming soon, I think.
Sticking by my thesis that mids and majors are where you want to have most of your capital allocated.
yeah so basically trump got cocky after succeeding with venezuela and had a hot hand and decided to double down and strike iran in february thinking they could take over the country in a couple of weeks despite everyone telling him it was a bad idea and would drag on
nothing really happened and then Iran learned that they can actually close the strait of hormuz and were unsure if it would even work but now its become obvious they can do it and feel empowered. the iranians have a longer history as a culture and are slow walking trump as much as possible as they know that higher oil prices are going to ruin his odds in the midterms and weaken him
not only that but now higher energy prices are putting upward pressure on inflation and bond yields which has made the job of his new fed chair warsh who came in under a premise of potential rate cute but because of the iran war were entering a rate hiking cycle
the only person in the room who was trying to juggle all of this was scott bessent but after trying to juggle everything for so long he decided he was going to try and fight the bond vigilantes to lower bond yields and declared himself as the house. but he showed up to the bond fight with hardly any ammunition and now the bond market is calling his bluff and now the bond auctions are going terrible and he looks like a fool now
so now bond yields are surging export bans on diesel are being put in place as an act of desparation midterms are a total write off and the trump admin is about to spend the next two years probably fighting impeachment hearings while things continue to detoriorate and the funny thing about all of this is he won the presidency off the idea of no more foreign wars but its his own foreign war with iran that started this whole mess and now the free market is testing them all
No excitement, no realisation that we are in a bullmarket right in this very moment. Just people trying to time the market, FOMO, disbelief and sidelined capital.