$ENA As expected, it's a bellwether for the copycat market trend. I mentioned on the square on April 11th that once the ENA market starts to activate, it basically signals a wave of copycat market activity. Currently, this view is pretty much confirmed.

Previously, BTC rebounded from a bottom of 60,000 to 74,000, while ENA remained stagnant, which means ENA was rallying earlier, making me even more confident that a copycat market is coming. The core reason is that ENA's USDE is a stablecoin based on funding rates, which distributes earnings to holders by leveraging funding rates. When the market heats up, trading volume increases, more funding is leveraged, and the USDE market size expands, driving ENA's price up. An increase in market trading volume also indicates a wave of copycat market activity.

I've explained the core logic clearly for everyone. You can remember it, and treat ENA as an indicator. I mainly share useful insights as a blogger on the square, selflessly sharing with everyone. I hope we can grow together.