Ethena, the developer of USDe stablecoin, has embarked on significant strides on its roller-coaster journey in the crypto market. The firm recently announced raising $100 million along with MEXC's $20M investment to facilitate its finance foray and enhance the development of its stablecoin. Following this,
Ethena (ENA) was listed in Bithumb's KRW market complete with an airdrop event, thereby showing promising potential. In a move to strengthen risk management, Ethena Labs has integrated Chaos Labs' Edge Proof of Reserves Oracles. The resulting push to the cryptocurrency's price has made positive ripples in the industry, with some projections claiming
ENA's price could cross $2 by 2030.
The launch of its institutional stablecoin, against the backdrop of a receding crypto market, has sent ENA's price soaring by 16%. As part of a partnership with BlackRock, Ethena has also rolled out a BlackRock-backed USDtb stablecoin, designed to mitigate the risks associated with USDe. Additionally, crypto analysts have highlighted multiple buy signals for ENA as
Ethena's price now targets a 75% rally. Even while ENA experiences minor pullbacks, crypto observers anticipate its value will hit $1.
In a marker of ENA's growth, Trump's World Liberty bought a staggering 741,687 ENA, leading to a 525% surge in ENA's price. Despite typical market volatility, including a key support level loss and the moving of tokens by BitMex founder Arthur Hayes, Ethena continues to hold strong. BlackRock-backed Ethena has also just made its UStb stablecoin official. A viable contender for the top altcoin spot in 2025, it has also grabbed the limelight for securing a 5% DRV token supply for sENA holders in its new partnership with Onchain Derivatives Protocol Derive.
ENA Coin News Analytics from Thu, 28 Mar 2024 12:24:32 GMT to Wed, 26 Feb 2025 16:57:19 GMT -
Rating 4
- Innovation 6
- Information 8
- Rumor -1
