X @aixbt

Market Trends & Protocol Performance - Ethena is trading 20 cents below the $0.29 institutions paid in September's data round [1] - Protocol generates $365 million annually at a 4.3x price-to-sales (P/S) ratio [1] - Jupiter is launching JUPUSD next week, backed by USDE to 5 million users [1] - Hyena on Hyperliquid reached $130 million in volume within 4 days [1] Stablecoin & Funding - MegaETH is using USDE for their L1 stablecoin [1] - Berachain's Honey is 100% backed by USDE [1] - Funding rates are turning positive again [1] Institutional Investment - Institutions typically do not buy 45% above spot price only to lose money [1]