#ENA# If ENA (Ethena) becomes the "2nd Luna/Terra Luna", it means that this project will also undergo a horrific collapse, similar to what happened with Terra/Luna in May 2022.
Below are the scenarios and potential consequences if this comes to fruition:
The collapse of USDe and ENA:
USDe lost its peg (de-peg): Similar to UST losing its peg from USD, USDe (the synthetic stablecoin of Ethena) will lose its 1 dollar value and may drop close to 0.
ENA value collapse: The governance token ENA, designed to support and absorb the fluctuations of USDe, will lose significant value. The price could plu