Ethena's emergence as a leading weekly gainer reflects optimism, yet some factors may undermine its long-term prospects.
Ethena (ENA) price has surged 11% as bullish momentum continues to build, with signals indicating there could be more room for growth. The recent spike comes on the heels of a proposal to integrate Ethereal, a decentralized exchange, into Ethena's reserve management system.
TL;DR Ethereal proposes an integration with the Ethena network to expand its ecosystem and improve onchain management. A 15% allocation of Ethereal governance tokens is offered to ENA users. The exchange aims to match the performance of centralized platforms while maintaining full user custody.
The crypto markets are heading towards the end of the quarter and after an interim upswing, the prices of most of the tokens have been facing significant upward pressure. During the weekend, the Bitcoin price surged above $66,500, which squashed the possibility of a bearish close for the quarter.
Ethena community to vote on integrating Ethereal DEX to boost USDe stablecoin, with ENA holders receiving Ethereal tokens if approved.
Ethena Labs, the developer of the “synthetic dollar” USDe, revealed that the community is reviewing a proposal to launch a decentralized crypto exchange to drive the asset's growth. Ethereal On Sept.
Ethereal, a spot and perpetual DEX, proposed that the exchange be integrated to Ethena to be the on-chain exchange for USDe.
Ethereal, an integrated spot & perpetual futures DEX, requests the Ethena community to approve a proposal to directly integrate the DEX into Ethena-related reserve management from launch. It will help provide a fully on-chain venue for the management of spot and derivative positions backing USDe.
The Ethena community is set to vote on a proposal to integrate Ethereal, a decentralized exchange built on USDe, into Ethena's reserve management system.
Ethereal Exchange's integration with Ethena Network could enhance decentralized finance by boosting USDe demand and setting new DEX standards. The post Ethereal Exchange proposes integration with Ethena Network appeared first on Crypto Briefing.
The native token of the synthetic dollar protocol developer Ethena (ENA) surged by more than 45% this week as the project rolled out multiple new products. Ethena aims to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called USDe.
Ethena (ENA) is preparing to introduce a new stablecoin, UStb, which will be backed by BlackRock's tokenized BUIDL fund.
Ethena's launch of UStb, backed by BlackRock, could enhance stability and broaden adoption in the DeFi space, despite market fluctuations. The post Ethena debuts UStb stablecoin backed by BlackRock to complement USDe appeared first on Crypto Briefing.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
Ethena Labs announced on X on September 26 its newest product offering, UStb. The company revealed that UStb would be backed up by BlackRock BUIDL.
TL;DR Ethena has launched its new stablecoin UStb, designed as an alternative to USDe, offering stability with a differentiated risk profile in a volatile market. UStb will be fully backed by BlackRock's tokenized BUIDL fund, which manages over $522 million in assets, ensuring its collateralization.
Ethena Labs is launching a new stablecoin project fully backed by BlackRock's Ethereum-based tokenized fund and Securitize.
Ethena Labs has confirmed that the newly launched UStb stablecoin is a “wholly independent product”, and independent of its already existing USDe stablecoin.
Ethena stablecoin UStb was launched as an alternative to its existing USDe stablecoin.
Ethena Labs, the developer of the Ethereum-based synthetic dollar protocol, has announced the launch of UStb, a new fiat stablecoin. Backed by the BlackRock USD Institutional Digital Liquidity Fund (BUILD) and in partnership with Securitize Markets LLC, UStb offers a distinct alternative to the existing USDe stablecoin.
Ethena (ENA) has announced a new stablecoin dubbed UStb, which is to be launched in collaboration with Securitize. Securitize is the real-world asset tokenization platform for the BlackRock USD Institutional Digital Liquidity Fund, BUIDL.
Ethena Labs is teaming up with BlackRock to introduce a brand-new stablecoin, UStb (USTB). This exciting project will leverage BlackRock's tokenized USD Institutional Digital Liquidity Fund (BUIDL), which maintains a stable value of $1 per token.
Ethena has announced plans to introduce a new stablecoin, UStb, which will be backed by BlackRock's tokenized U.S. Treasuries fund, known as BUIDL.
Ethena Labs has announced the introduction of UStb, a new stablecoin fully backed by BlackRock's on-chain BUIDL fund, developed in partnership with Securitize. This product is an additional fiat stablecoin alongside USDe, offering a differentiated risk profile to users and exchange partners.
Ethena Labs has announced the introduction of UStb, a new stablecoin fully backed by BlackRock's on-chain BUIDL fund, developed in partnership with Securitize. This product is an additional fiat stablecoin alongside USDe, offering a differentiated risk profile to users and exchange partners.
Ethena Labs has announced the upcoming launch of UStb, a new stablecoin that will be backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
Ethena's synthetic stablecoin USDe can benefit from incorporating UStb during periods of weak funding conditions, Ethena Labs said.
Ethena Labs on Thursday said it will launch UStb stablecoin collateralized by BlackRock and Securitize, enabling a separate fiat stablecoin product alongside USDe. UStb will be fully backed by BlackRock BUIDL in partnership with Securitize.
Reserves for UStb will be invested in BUIDL, which in turn holds U.S. dollars, U.S. Treasury bills, and repurchase agreements.
Ethena's existing decentralized synthetic dollar, USDe, is now the fifth-largest stablecoin, with a $2.6 billion circulating supply.
With high anticipation of a bull run in 2024, altcoins are preparing for a bull run season. Amidst the plethora of altcoins, the newly launched token of Ethena Labs, ENA price predictions project a high likelihood of an uptrend.
Markus Thielen, the Head of Research at 10x Research, savvy traders are shifting their focus from Bitcoin to promising altcoins, and you might want to pay attention. Recent trends show that trading volumes for altcoins have surged as traders look for high-risk, high-reward opportunities amidst changing market dynamics.
Ethena Labs, a leading decentralized finance (DeFi) provider known for its synthetic dollar operations, experienced a major security breach on September 18. Hackers compromised the front end of Ethena's website, prompting an immediate response from the company.
Ethena Labs, the organization responsible for the decentralized synthetic dollar protocol, has suspended its website activities after a security breach on its domain registrar's account. To avert further harm, the company posted a notice on X (previously Twitter) and instructed users not to engage with any site or application that purports to be the Ethena
Binance founder and former CEO Changpeng Zhao (CZ) is set for imminent release, confirmed by the US Federal Bureau of Prisons (BOP).
Hackers attacked synthetic dollar issuer Ethena, but the protocol said its core blockchain infrastructure remained uncompromised. On Sept. 18, bad actors successfully breached the website of decentralized finance service provider Ethena Labs (ENA).
Web3 security platform Blockaid recently detected a potential front-end attack targeted towards Ethena Labs. Reportedly, the attackers used the latest version of Inferno drainer in this attack.
The Ethena website appears to have suffered a front-end attack, and users are encouraged not to interact with the platform.
The project noted the protocol itself is unaffected, but users should avoid “any site or application purporting to be the Ethena frontend."
Ethena Labs' frontend attack highlights the critical need for robust security measures to protect user interactions and maintain trust in DeFi platforms. The post Ethena Labs suffers frontend attack, confirms protocol remains unaffected appeared first on Crypto Briefing.
The alternative stablecoin market is evolving, and projects like Ethena are leading the way, with a total value locked of $2.7 billion.
Based on the latest data, Ethena's yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena's USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug.
Ethena whales have dumped a notable 22 million ENA, worth $6.9 million, to Binance.
The cryptocurrency space maintains sideways actions as Bitcoin sways above and below the $60,000 mark. Amidst the volatility, four Ethena (ENA) whales unstaked and deposited 15.86 million coins (worth over $4 million). The transaction, which happened through Binance exchange over the past 24 hours, saw the whales encountering losses of over $5 million.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
Binance has announced that it will be delisting a number of spot trading pairs. The reason for this is Binance's evaluation of all listed spot trading pairs on a regular basis, analysis of their performance and liquidity.
Data from Token Unlocks revealed that four major token unlocks were scheduled for August between the 19th and the 25th. According to Token Unlocks, 54 million PIXEL and 9.54 million AVAX would be released on August 19, while 18.94 million ID and 14.89 million ENA would be released on August 22 and August 25, respectively.