Arthur Hayes’ 10X Prediction For That Altcoin!
Bybit integrates USDe for perpetual futures and BTC and ETH spot pairs. Thus, it aims to increase trader return and capital efficiency. This move positively affected ENA, the native token of Ethena Labs, the company behind USDe. Some analysts shared bullish predictions for ENA. Famous forecaster Arthur Hayes also joined this bandwagon. Hayes points to $10 for the altcoin.
Arthur Hayes targeted 10 dollars for ENA!
Cryptocoin.com As we reported, crypto exchange Bybit has partnered with Ethena Labs. Ethena Labs’ partnership with Bybit includes the integration of USDe into Bybit’s trading infrastructure to be used as collateral for perpetual futures on the platform. The integration also includes the addition of Bitcoin and Ethereum spot trading pairs.
Following the development, BitMEX co-founder Arthur Hayes drew attention to Ethena’s management token ENA. Hayes made a bold prediction about the token, suggesting that it could reach $10.
Integration of USDe into Bybit
Experts expect this development to contribute to the utilization of USDe through the enablement of diversified trading strategies. It is also expected to improve users’ capital efficiency. The integration will also make USDe spot trading pairs with major cryptocurrencies such as Bitcoin and Ethereum. This will expand its scope and benefits within the crypto trading community.
In addition to being used as collateral, USDe will also join Bybit’s Earn product, where users can participate in launchpool farming. This move gives users more ways to earn a return on their crypto assets. It will give the platform a wider user pool for both new and experienced traders.
Altcoin price performance
After the news, the altcoin price reacted positively. After this move, ENA recorded a significant price increase. According to CoinMarketCap data, ENA rose as high as $0.99 during the day. The token’s trading volume in the last 24 hours surpassed $530 million, up nearly 25%. The altcoin currently ranks 63rd in the market capitalization rankings.
The collaboration and Hayes’ prediction have attracted a lot of interest from investors and speculators alike regarding the potential growth of ENA’s value. USDe’s integration with Bybit increases USDe’s visibility and usage. It makes it a strong competitor in the stablecoin market dominated by other currencies such as USDT.