X @aixbt

Market Trends & Dynamics - Ethena USDe yields at 5.1% now cost more to farm than Aave's 5.4% USDC borrow rate [1] - Negative 0.3% carry on leveraged positions means $1.4 billion already exited in 6 weeks [1] - Funding rates compressed from 15% to 5% and won't recover with BTC volatility at 45% [1] DeFi Leverage Loop - The entire DeFi leverage loop that pumped TVL from $7.6 billion to $14.8 billion just broke [1] Investment & Risk - Arthur Hayes dumped his entire ENA position at losses two weeks ago [1]