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Crypto Horizon
@EnyxCrypto
₿ Bitcoin | Crypto | Altcoins l $ENA
📊 Market Cycles & Analysis
🔎 Research • Patience • Conviction
🌅 Looking beyond the next cycle
Joined August 2025
91 Following
17 Followers
36 Posts
🚀 $ENA: A BASE BREAKOUT WITH A 4:1 RECOVERY SETUP
$ENA has bounced from its 2026 base, but the weekly structure still carries lower highs. Holding $0.18–$0.22 is key to building a stronger recovery.
The long scenario looks for an entry around $0.22 following a successful retest. The first hurdle is $0.28–$0.32. Clearing that zone would strengthen the path toward $0.43–$0.49 supply.
Entry: $0.2200
Stop loss: $0.1600
Take profit: $0.4600
Potential upside: 109.09%
Risk to stop: 27.27%
R:R: 4:1 before costs
The target sits inside historical resistance. A breakdown below support would weaken the recovery thesis.
LATEST: ⚡ Ether.fi has launched Ether.fi USD, its own US dollar-denominated stablecoin powered by Ethena, aiming to make stablecoins native across its products.
@afoxinweb3 @ether_fi @ethena $300M+ already plugged into the ecosystem is pretty wild. If @ethena keeps becoming the infrastructure behind more stablecoin products, ENA could have a very interesting road ahead.
In a very short period of time, @Ethena's $USDe has risen to become the third largest stablecoin in the entire industry.
Here's what makes it special ⬇️
https://t.co/ApOhJYS9pw
JUST IN: CFTC Chair Mike Selig says "BIG" news is coming.
The market may be underestimating the long-term potential.
Standard Chartered forecasts $2 ethereum:0x57e114b691db790c35207b2e685d4a43181e6061 by end-2028, nearly 8× from $0.25.
USDe growth + tokenization + buybacks.
$0.25 could look very different if the thesis plays out.
BREAKING: Ethena’s USDe is now the third-largest stablecoin by market cap at $4.9 billion
The Terra comparison is worth discussing, but USDe’s structure is different. The real question now: can @ethena maintain its model through a full market cycle? That’s what I’m watching. ethereum:0x57e114b691db790c35207b2e685d4a43181e6061
DEFI LEGEND COMPARES ETHENA $ENA TO COLLAPSED TERRA $UST STABLECOIN
“from my (perhaps incorrect) understanding, this new protocol is very high risk”
- Decentralized Finance legend and @yearnfi founder, @AndreCronjeTech, has become the first major voice to question to long-term viability of hot-new DeFi project, @ethena.
- @ethena launched its native token, $ENA, only yesterday and the asset already boasts a market cap of more than $1.3 billion, as well as listings on the likes of @Binance, and @Bybit_Official.
- However, Cronje suggests, rather than states, that Ethena’s USDe product may be unsustainable in the same fashion as the infamous @Terra_money $UST ecosystem.
- It is worth noting that Cronje chose to posit his questions in as non-antagonistic fashion as possible, neglecting to even mention $ENA by name, in order to avoid the hostility we so often see in the crypto space…
Cronje’s Concerns…
- Following an articulate explanation of the differences between spot and perpetual trading, as well as the important yield component…
- … Cronje points out that such mechanisms are sustainable only when funding shorting funding rates are positive, but things can turn ugly should they become negative (exactly what we saw in the case of $LUNA and $UST)
“So while things are going great now (because market is positive and shorting funding rates are positive [because everyone is happy being long]), eventually that turns, funding becomes negative, margin/collateral gets liquidated, and you have an unbacked asset.”
- Again analogising with the Terra ecosystem in May 2022, Cronje points out that such a mechanism “works until it doesn’t”.
- He then calls on the crypto community to address his concerns.
- The founder of Ethena, @leptokurtic_, also responded maturely, acknowledging Cronje’s concerns and conceding that such risks do exist, but seemingly undeterred by their existence.
- They also promised a full response to Cronje’s questions by the end of the week…
“These aren’t mid curve concerns at all @AndreCronjeTech, you rightly point out risks that absolutely do exist here… Will work on a longer form response for you by end of this week with some thoughts”
Image: Metaverse Post
![BSCNews's tweet photo. DEFI LEGEND COMPARES ETHENA $ENA TO COLLAPSED TERRA $UST STABLECOIN
“from my (perhaps incorrect) understanding, this new protocol is very high risk”
- Decentralized Finance legend and @yearnfi founder, @AndreCronjeTech, has become the first major voice to question to long-term viability of hot-new DeFi project, @ethena.
- @ethena launched its native token, $ENA, only yesterday and the asset already boasts a market cap of more than $1.3 billion, as well as listings on the likes of @Binance, and @Bybit_Official.
- However, Cronje suggests, rather than states, that Ethena’s USDe product may be unsustainable in the same fashion as the infamous @Terra_money $UST ecosystem.
- It is worth noting that Cronje chose to posit his questions in as non-antagonistic fashion as possible, neglecting to even mention $ENA by name, in order to avoid the hostility we so often see in the crypto space…
Cronje’s Concerns…
- Following an articulate explanation of the differences between spot and perpetual trading, as well as the important yield component…
- … Cronje points out that such mechanisms are sustainable only when funding shorting funding rates are positive, but things can turn ugly should they become negative (exactly what we saw in the case of $LUNA and $UST)
“So while things are going great now (because market is positive and shorting funding rates are positive [because everyone is happy being long]), eventually that turns, funding becomes negative, margin/collateral gets liquidated, and you have an unbacked asset.”
- Again analogising with the Terra ecosystem in May 2022, Cronje points out that such a mechanism “works until it doesn’t”.
- He then calls on the crypto community to address his concerns.
- The founder of Ethena, @leptokurtic_, also responded maturely, acknowledging Cronje’s concerns and conceding that such risks do exist, but seemingly undeterred by their existence.
- They also promised a full response to Cronje’s questions by the end of the week…
“These aren’t mid curve concerns at all @AndreCronjeTech, you rightly point out risks that absolutely do exist here… Will work on a longer form response for you by end of this week with some thoughts”
Image: Metaverse Post](https://pbs.twimg.com/media/GKPRwdbWIAAgZyG.jpg)
@Diego__Crespo @grok Oct 5 could bring some volatility, but the bigger question is what happens after the unlock. USDe growth, buybacks and adoption are still the key things I’m watching for ENA.
What exactly is Ethena’s (@ethena) USDe?
Unlike USDT or USDC, USDe isn’t backed by dollars sitting in a bank.
Find our more 👇
https://t.co/ApOhJYSHf4
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