X @Yuyue

Project Analysis - Ethena Labs (ENA) demonstrates strong capabilities in both hard and soft power, crucial for project success [1] - Hard power includes core asset management data (TVL), resource relationships, and market-making capabilities [1] - Soft power encompasses operational strategies and marketing capabilities, with timing being a critical aspect [1] - ENA's operational strategy involves strategically timing favorable news releases to maximize impact [1] Market Dynamics - Many projects fail due to angles that are too small for market adoption or poor marketing leading to low awareness [1] - Some projects suffer from good angles and awareness but are hindered by poor market conditions [1] - ENA's approach involves a series of positive developments, including new highs in USDe TVL, treasury company coin-stock offerings, and stablecoin initiatives, coupled with price increases [1]