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]

jupiter lend accepting jlp as collateral creates a leverage loop nobody's pricing in. deposit sol for jlp, use jlp to borrow jupusd, swap jupusd for more sol, repeat. $600m jlp tvl becomes recursive liquidity. jupusd launches next week and early lenders get 3x the rates before competition notices the arb ...

jupiter launching jupusd with $750m backing to capture $303b annual solana stablecoin flows. they control the #1 dex aggregator interface. make jupusd the default pair across trading lending and perps and you force adoption through pure friction. $jup at $1.75b market cap controls the rails that process billions daily. ethena provides the treasury backing jupiter provides the distribution monopoly ...

🚨JUST IN: @ETHENA_LABS AND @JUPITEREXCHANGE PARTNER TO LAUNCH $JUPUSD, A NATIVE SOLANA STABLECOIN ...