The community behind a synthetic dollar protocol on Ethereum (ETH) is proposing adding a top ETH rival to its reserve assets for its stablecoin. According to a new Ethena (ENA) community proposal, the community is considering adding Solana (SOL) as a reserve asset for the US-dollar pegged stablecoin USDe.

Bitcoin reclaims $65k, sparking double-digit gains for altcoins like ENA, WLD, and BRETT.

Ethena proposes adding Solana and liquid staked SOL variants as reserve assets for its USDe stablecoin, potentially unlocking billions in additional open interest and boosting the ENA token price.

Ethena Labs has proposed adding Solana (SOL) to the collateral mix of its synthetic stablecoin USDe, targeting a $100-200 million initial allocation.

With Bitcoin making a comeback above the $64,000 mark, the anticipation of an October rally in the crypto market is beginning to resurface. Amid the increasing bullishness, the Ethena Labs token, ENA, is ranking among the top performers.

In the latest development, the Ethena community introduced a new proposal that seeks to use Ethereum's Layer-1 competitor Solana as a reserve asset for its synthetic dollar USDe. This development has sent the Ethena (ENA) price soaring by another 17% today to $0.39 thereby taking its market cap above $1.06 billion.

If the proposal is approved, SOL will join BTC and ETH within Ethena's collateral mix.

ENA, the native cryptocurrency of Ethereum-based DeFi project Ethena has witnessed a strong surge as the platform pitches a direct stablecoin competition with industry giant Tether. As a result, the ENA price has shot up by 25% moving to $0.35 with its market cap surging past $920 million.

Crypto prices for some coins rose sharply as the cryptocurrency market experienced notable gains on Friday, October 11. Bitcoin reclaimed $62k and most top altcoins traded higher, with notable surges for Ethena and Celestia.

The cryptocurrency universe prepares for another bearish market wave for certain altcoins, raising investor concerns globally. Recent data from the Token Unlocks app indicated that nearly $300M worth of tokens are set to be released into the market over the coming week.

On October 10, Ethena unveiled the assets selected by its risk committee to allocate its Real World Assets (RWA) reserve fund.

Decentralized finance protocol Ethena will allocate $46 million of its Reserve Fund in various tokenized real-world assets. Ethena (ENA) announced the decision on Oct.

TL;DR Ethena has allocated $46 million of its Reserve Fund to real-world asset-backed (RWA) assets. Selected assets include BUIDL, USDS, USDM and USTB, seeking diversification and yield. This move aligns with the trend of DeFi platforms investing in real-asset-backed products to generate yield.

Ethena's $46 million allocation fits into the growing trend of DeFi platforms and protocol foundations investing in real-world asset-backed products to earn a yield without leaving blockchain rails.

Here's how some of your favorite assets wrapped up the week.

With the altcoins market, excluding Bitcoin and Ethereum, crashing under $600M, bearish clouds turn darker over crypto. Amid such conditions, a fresh recovery day with BTC hitting $62k shows a relief jump in altcoins. Further, despite the global tensions heating up, these altcoins are teasing a bounce back next week.

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.

The cryptocurrency market displayed bearishness on Monday, with Bitcoin (BTC) losing 1.45% in the past day to hover above $64.5K. While most altcoins mirrored the top asset's performance, Ethena (ENA) stole the show with a 20.16% uptick from a 24-hour low of $0.3497 to $0.4202 % on its daily chart.

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.