{"id":601164,"date":"2024-04-03T13:00:06","date_gmt":"2024-04-03T13:00:06","guid":{"rendered":"https:\/\/wncen.com\/?p=601164"},"modified":"2024-04-03T12:23:53","modified_gmt":"2024-04-03T12:23:53","slug":"ethena-ena-60-luna-like-demise-fantom","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","title":{"rendered":"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise"},"content":{"rendered":"<p>Ethena Labs&#8217; new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market. The spike in ENA&#8217;s price to approximately $0.96 has catapulted its market capitalization to nearly $1.34 billion, ranking ENA as the 80th largest cryptocurrency by market cap.<\/p>\n<p>This ascent followed Ethena&#8217;s strategic distribution of 750 million ENA tokens, representing 5% of its total supply, through an airdrop to holders of its <a href=\"https:\/\/wncen.com\/maker-mkr\/makerdao-initiates-massive-600-million-dai-investment-in-usde-and-susde\/\" target=\"_blank\" rel=\"noopener \">USDe token<\/a>. The USDe, a synthetic dollar, is central to Ethena&#8217;s offering, leveraging a blend of ether liquid staking tokens and short Ether (ETH) perpetual futures positions to maintain a target value near $1.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Ethena Labs airdrop went live 2 hours ago, with $450M of ENA to distribute.<\/p>\n<p>The largest <a href=\"https:\/\/twitter.com\/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ENA<\/a> recipient so far has been 0xb56, who received 3.30M ENA worth $1.96M.<\/p>\n<p>Track ENA on Arkham:<a href=\"https:\/\/t.co\/coFsTcBUCa\" rel=\"nofollow\">https:\/\/t.co\/coFsTcBUCa<\/a> <a href=\"https:\/\/t.co\/RSZwXLhCB6\" rel=\"nofollow\">https:\/\/t.co\/RSZwXLhCB6<\/a> <a href=\"https:\/\/t.co\/l6c7bqKghG\" rel=\"nofollow\">pic.twitter.com\/l6c7bqKghG<\/a><\/p>\n<p>&mdash; Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/26554458?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 2, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the heart of Ethena&#8217;s value proposition is the ENA token, engineered to facilitate a digital dollar platform on the Ethereum blockchain. This platform seeks to provide a viable alternative to conventional banking mechanisms through its innovative &#8216;Internet Bond&#8217;. By harnessing the potential of derivative markets and staked Ethereum, the Internet Bond offers a dollar-denominated savings instrument accessible globally, independent of traditional banking infrastructure.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/maker-mkr\/makerdao-initiates-massive-600-million-dai-investment-in-usde-and-susde\/\" target=\"_blank\" rel=\"noopener \">MakerDAO Initiates Massive $600 Million DAI Investment In USDe And sUSDe<\/a><\/div>\n<p>The total supply of ENA tokens is capped at 15 billion, with an initial issuance of 1.425 billion tokens. The distribution plan prioritizes ecosystem development (30%), core contributor rewards (30%), investor engagement (25%), and foundation support (15%), embodying a holistic approach to tokenomics. Notably, Binance&#8217;s endorsement of ENA as the 50th project on its Binance Launchpool, enabling users to farm ENA tokens by staking BNB and FDUSD, underscores the token&#8217;s appeal.<\/p>\n<p>At press time, ENA traded at $0.93, up 60% in the past 24 hours.<\/p>\n<figure id=\"attachment_601188\" aria-describedby=\"caption-attachment-601188\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-601188 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?resize=3628%2C1673\" alt=\"Ethena ENA price\" width=\"3628\" height=\"1673\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=3628 3628w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/ENAUSD_2024-04-03_13-02-50.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-601188\" class=\"wp-caption-text\">ENA price, 15-minute chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/NdtddMyt\/\" target=\"_blank\" rel=\"noopener nofollow\">ENAUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Fantom Co-Founder Warns Of Luna-Like Collapse<\/h2>\n<p>Andre Cronje, co-founder of the<a href=\"https:\/\/wncen.com\/news\/fantom-foundation-wallets-drained-pain-ftm-prices-tank\/\" target=\"_blank\" rel=\"noopener \"> Fantom Foundation<\/a>, issued a warning on X, recalling the concerns that preceded the collapse of Terra Luna. Cronje dissected the structure of perpetual contracts (perps), a derivative product that enables traders to speculate on the price movement of an asset without holding the actual asset.<\/p>\n<p>This mechanism operates on a system of funding rates meant to tether the perpetual price closely to the underlying asset&#8217;s spot price. However, Cronje highlighted a critical vulnerability in this system: the reliance on yield-generating assets, such as staked Ethereum (stETH), as collateral.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/fantom-ftm-jumps-180-4-weeks-just-the-beginning\/\" target=\"_blank\" rel=\"noopener \">Fantom (FTM) Jumps 180% In 4 Weeks: Just The Beginning?<\/a><\/div>\n<p>This approach theoretically allows for a &#8220;neutral&#8221; position, where the gains from yield should offset losses from the short position if the asset\u2019s price drops. Yet, this equilibrium is precarious, as negative shifts in funding rates can erode the collateral, leading to liquidation.<\/p>\n<p>\u201cThe mechanism &#8211; the theory here is that you can generate a &#8216;stable&#8217; $1000, by buying $1000 of <a href=\"https:\/\/wncen.com\/altcoin\/whale-purchases-steth-in-the-past-day-reasons-why\/\" target=\"_blank\" rel=\"noopener \">stETH<\/a>, using this as collateral to open a $1000 stETH short, thereby achieving being &#8216;neutral&#8217;, while getting the benefit of the stETH yield (~3%) + whatever is paid in funding rates,\u201d Cronje explained.<\/p>\n<p>Cronje&#8217;s concerns are not unfounded. The crypto industry witnessed the dramatic implosion of Terra&#8217;s algorithmic stablecoin UST in 2021, a debacle that resulted in significant financial losses across the board. By drawing a parallel between the structural weaknesses he perceives in Ethena&#8217;s framework and the mechanisms that led to Terra&#8217;s downfall, Cronje raises a red flag about the sustainability of complex financial products that lack transparent risk mitigation strategies.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Every so often we see something new in this space. I often find myself on the mid curve for an extensive amount of time. I am comfortable here. That being said, there have been events in this industry I wish I was more curious about, there have also been events I definitely did\u2026<\/p>\n<p>&mdash; Andre Cronje (@AndreCronjeTech) <a href=\"https:\/\/twitter.com\/AndreCronjeTech\/status\/04724914?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 3, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Responding to Cronje&#8217;s critique, the founder of Ethena Labs Guy Young aka Leptokurtic, acknowledged the validity of the concerns raised. &#8220;These aren\u2019t mid curve concerns at all Andre Cronje, 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,&#8221; Young stated on X.<\/p>\n<div class=\"disclaimer-shortcode\">Featured image from LinkedIn, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethena Labs&#8217; new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market. The spike in ENA&#8217;s price to approximately $0.96 has catapulted its market capitalization to nearly $1.34 billion, ranking ENA as the 80th largest cryptocurrency by market cap. This ascent followed Ethena&#8217;s strategic distribution of 750 million ENA tokens, representing 5% of its total supply, through an airdrop to holders of its USDe token. The USDe, a synthetic dollar, is central to Ethena&#8217;s offering, leveraging a blend of ether liquid staking tokens and short Ether (ETH) perpetual futures positions to maintain a target value near $1. The Ethena Labs airdrop went live 2 hours ago, with $450M of ENA to distribute. The largest $ENA recipient so far has been 0xb56, who received 3.30M ENA worth $1.96M. Track ENA on Arkham:https:\/\/t.co\/coFsTcBUCa https:\/\/t.co\/RSZwXLhCB6 pic.twitter.com\/l6c7bqKghG &mdash; Arkham (@ArkhamIntel) April 2, 2024 At the heart of Ethena&#8217;s value proposition is the ENA token, engineered to facilitate a digital dollar platform on the Ethereum blockchain. This platform seeks to provide a viable alternative to conventional banking mechanisms through its innovative &#8216;Internet Bond&#8217;. By harnessing the potential of derivative markets and staked Ethereum, the Internet Bond offers a dollar-denominated savings instrument accessible globally, independent of traditional banking infrastructure. Related Reading: MakerDAO Initiates Massive $600 Million DAI Investment In USDe And sUSDe The total supply of ENA tokens is capped at 15 billion, with an initial issuance of 1.425 billion tokens. The distribution plan prioritizes ecosystem development (30%), core contributor rewards (30%), investor engagement (25%), and foundation support (15%), embodying a holistic approach to tokenomics. Notably, Binance&#8217;s endorsement of ENA as the 50th project on its Binance Launchpool, enabling users to farm ENA tokens by staking BNB and FDUSD, underscores the token&#8217;s appeal. At press time, ENA traded at $0.93, up 60% in the past 24 hours. Fantom Co-Founder Warns Of Luna-Like Collapse Andre Cronje, co-founder of the Fantom Foundation, issued a warning on X, recalling the concerns that preceded the collapse of Terra Luna. Cronje dissected the structure of perpetual contracts (perps), a derivative product that enables traders to speculate on the price movement of an asset without holding the actual asset. This mechanism operates on a system of funding rates meant to tether the perpetual price closely to the underlying asset&#8217;s spot price. However, Cronje highlighted a critical vulnerability in this system: the reliance on yield-generating assets, such as staked Ethereum (stETH), as collateral. Related Reading: Fantom (FTM) Jumps 180% In 4 Weeks: Just The Beginning? This approach theoretically allows for a &#8220;neutral&#8221; position, where the gains from yield should offset losses from the short position if the asset\u2019s price drops. Yet, this equilibrium is precarious, as negative shifts in funding rates can erode the collateral, leading to liquidation. \u201cThe mechanism &#8211; the theory here is that you can generate a &#8216;stable&#8217; $1000, by buying $1000 of stETH, using this as collateral to open a $1000 stETH short, thereby achieving being &#8216;neutral&#8217;, while getting the benefit of the stETH yield (~3%) + whatever is paid in funding rates,\u201d Cronje explained. Cronje&#8217;s concerns are not unfounded. The crypto industry witnessed the dramatic implosion of Terra&#8217;s algorithmic stablecoin UST in 2021, a debacle that resulted in significant financial losses across the board. By drawing a parallel between the structural weaknesses he perceives in Ethena&#8217;s framework and the mechanisms that led to Terra&#8217;s downfall, Cronje raises a red flag about the sustainability of complex financial products that lack transparent risk mitigation strategies. Every so often we see something new in this space. I often find myself on the mid curve for an extensive amount of time. I am comfortable here. That being said, there have been events in this industry I wish I was more curious about, there have also been events I definitely did\u2026 &mdash; Andre Cronje (@AndreCronjeTech) April 3, 2024 Responding to Cronje&#8217;s critique, the founder of Ethena Labs Guy Young aka Leptokurtic, acknowledged the validity of the concerns raised. &#8220;These aren\u2019t mid curve concerns at all Andre Cronje, 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,&#8221; Young stated on X. Featured image from LinkedIn, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":601167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84155,91991,91993,91990,91994,91992,9376],"class_list":["post-601164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-andre-cronje","tag-ena","tag-ena-price","tag-ethena","tag-ethena-news","tag-ethena-price","tag-fantom"],"acf":[],"yoast_head":"\n<title>Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning<\/title>\n<meta name=\"description\" content=\"Ethena Labs&#039; new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning\" \/>\n<meta property=\"og:description\" content=\"Ethena Labs&#039; new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-03T13:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T12:23:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428\" \/>\n\t<meta property=\"og:image:width\" content=\"716\" \/>\n\t<meta property=\"og:image:height\" content=\"428\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise\",\"datePublished\":\"2024-04-03T13:00:06+00:00\",\"dateModified\":\"2024-04-03T12:23:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\"},\"wordCount\":637,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428\",\"keywords\":[\"Andre Cronje\",\"ENA\",\"ENA Price\",\"Ethena\",\"Ethena News\",\"Ethena Price\",\"fantom\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\",\"url\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\",\"name\":\"Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428\",\"datePublished\":\"2024-04-03T13:00:06+00:00\",\"dateModified\":\"2024-04-03T12:23:53+00:00\",\"description\":\"Ethena Labs' new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428\",\"width\":716,\"height\":428,\"caption\":\"Ethena ENA price news\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning","description":"Ethena Labs' new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","og_locale":"en_US","og_type":"article","og_title":"Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning","og_description":"Ethena Labs' new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.","og_url":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-04-03T13:00:06+00:00","article_modified_time":"2024-04-03T12:23:53+00:00","og_image":[{"width":716,"height":428,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","type":"image\/jpeg"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise","datePublished":"2024-04-03T13:00:06+00:00","dateModified":"2024-04-03T12:23:53+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/"},"wordCount":637,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","keywords":["Andre Cronje","ENA","ENA Price","Ethena","Ethena News","Ethena Price","fantom"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","url":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","name":"Ethena (ENA) Surges 60% Amid Luna-Like Demise Warning","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","datePublished":"2024-04-03T13:00:06+00:00","dateModified":"2024-04-03T12:23:53+00:00","description":"Ethena Labs' new governance token, ENA, is witnessing a staggering 60% increase in its value, shortly after its introduction to the market.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","width":716,"height":428,"caption":"Ethena ENA price news"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise","url":"http:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethena-ena-60-luna-like-demise-fantom\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["andre cronje","ena","ena price","ethena","ethena news","ethena price","fantom"],"dateCreated":"2024-04-03T13:00:06Z","datePublished":"2024-04-03T13:00:06Z","dateModified":"2024-04-03T13:00:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethena (ENA) Surges 60%, But Fantom Co-Founder Warns Of Luna-Like Demise\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethena-ena-60-luna-like-demise-fantom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethena-ena-60-luna-like-demise-fantom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/46.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/46.jpg?fit=716%2C428\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"andre cronje\",\"ena\",\"ena price\",\"ethena\",\"ethena news\",\"ethena price\",\"fantom\"],\"dateCreated\":\"2024-04-03T13:00:06Z\",\"datePublished\":\"2024-04-03T13:00:06Z\",\"dateModified\":\"2024-04-03T13:00:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/46.jpg?fit=716%2C428","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601164"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=601164"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/601167"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=601164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=601164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=601164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}