Ethena Labs, creators of the
ENA Coin, have been involved in recent contentious events and critical developments. With allegations about
misuse of funds and the
withdrawal of ENA from Binance by Anchorage Digital, the credibility of the company came under scrutiny. Despite these challenges, ENA rallied by 22% as BlackRock showed interest in Ethena's RWA Investment Plan. ENA also experienced substantial growth with the token seeing a rally of over
96% in 30 days.
Ethena announced the launch of the BlackRock-backed
UStb stablecoin and the price of ENA rose significantly. Ethena's collaboration with
Coinbase Prime and new Tokenomic policies promoted a positive outlook for the project and contributed to price increases. A spike in buying activity from whales further bolstered the price.
The launch of Ethena's
USDe stablecoin on the Solana network and proposed use of SOL for USDe's collateral reveal the company's progressive tech adoption. However, Ethena's recent move of revamping
ENA Tokenomics sparked an outrage among its community. The company has also faced skepticism, noting the high-risk associated with synthetic stablecoins it offers. Despite these concerns, ENA continues to perform well in the crypto market with significant
price surges.
ENA Coin News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Fri, 01 Nov 2024 19:53:25 GMT -
Rating 6
- Innovation 8
- Information 8
- Rumor 6
