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 challenge 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 challenge’s DeFi protocol, might soar greater than 817% from the present worth.

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

“Congrats Ethena Labs on a profitable TGE (Token Era Occasion). If that is what ENA is price [when] the market is puking, think about how excessive it’s going to go as soon as we resume up solely! ENA = $10. It’s simply 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 challenge additionally consists of the yield-earning “artificial greenback” token USDe. The challenge goals to create a secure and scalable type of cash within the crypto house with out counting on conventional banking techniques.

Quite a lot of crypto exchanges have listed the token for buying and selling, together with the world’s high alternate Binance. Forward of the itemizing, ENA turned Binance’s fiftieth challenge added to its Launchpool platform, which lets customers stake cash to farm new property.

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