Ethena's DeFi Takeover ($)

Sponsor: Cartesi — Tap into the power of Linux, the simple way to build in Web3.

1. 🇰🇷 South Korea Sanctions North Korean Hackers. Fifteen individuals accused of crypto theft in North Korea were targeted by new sanctions.
2. 😬 Hacked Animoca CEO Announces Fake Token. The founder of crypto gaming company Animoca Brands has his X account hacked to announce a fake MOCA token.
3. 🇲🇪 Montenegro Court Dismisses Do Kwon Appeal. The Terra founder's appeal of a Supreme Court decision upholding his extradition was tossed.

📸 Daily Market Snapshot: A Christmas Day pump took BTC around $100 shy of $100K, but a rapid sell-off took it back to the $95K range. Meanwhile, ETH continues in its grinch-like end to the holiday season, down 19% from the month's highs.

	Crypto $3.31T	↘ 3.5%	↘ 2.4%
	BTC $95,688	↘ 3.3%	↘ 1.5%
	ETH $3,333	↘ 4.0%	↘ 2.9%

Ethena dominated DeFi mindshare throughout 2024, and despite its synthetic dollars garnering plenty of criticism and concern upon launch, the team's efforts have become one of DeFi's most notable success stories this year as traders have flocked to the protocol.

There are signals that the basis trade tokenization play is just getting started as other DeFi players look to latch onto Ethena's growth prospects. In recent months, market froth has turbocharged Ethena revenues and transformed ENA into a top-performing crypto play, meanwhile, crypto credit providers have come to increasingly integrate USDe in their reach for yield.

Today, we explore Ethena’s 2024 success story 👇

FRIEND & SPONSOR: CARTESI

Want to make an impact? Apply for a grant! The Cartesi Grants Program Wave 2 is accepting proposals over the next 6 months, with a funding budget of $500,000 in CTSI to support builders. Not a dev but know talented devs? Refer them to the program and become eligible for a DevDrop reward!

Read More