Ethena | Crypto

Ethena’s USDe shed 24% of its supply in November, losing market share as fiat-backed stablecoins including USDT, USDC, PYUSD and RLUSD added billions. Ethena’s synthetic-dollar stablecoin USDe saw one of its sharpest monthly contractions yet, while fiat-backed stablecoins including USDT, USDC and PYUSD attracted billions in inflows.  CoinGecko data showed that Ethena’s USDe stablecoin fell from a market capitalization of $9.3 billion on Nov. 1 to $7.1 billion on Nov. 30. The token saw about $2.2 billion in redemptions, marking a 24% decline in supply in November.  Ethena’s USDe is a synthetic stablecoin that maintains its dollar peg through trading strategies with crypto and futures contracts rather than holding actual dollars. USDe outflows mean that users are either selling USDe on the open market, withdrawing from pools or unwinding their positions on decentralized applications (DApps). Read more

Altcoin season has remained distant as the Crypto Fear and Greed Index has hovered near yearly lows and traders have preserved liquidity, while Bitcoin has held near $94K and UNI, ENA, and IMX have shown measured strength tied to protocol usage, yield stabilization, and ongoing gaming development. The post Altcoin Season Stalls in Extreme Fear While Uniswap, Ethena, and Immutable Push Higher appeared first on Cryptonews.

Digital asset treasury firm SUIG, the Sui Foundation and Ethena teamed up to create two proprietary stablecoins for the network.

M2 Capital invested $20 million in Ethena’s ENA token as the protocol’s TVL neared $15 billion, with growing institutional backing from global crypto investors. M2 Capital, the investment arm of UAE-based M2 Holdings, invested $20 million in ENA, the governance token for Ethena, a crypto-native synthetic dollar protocol built on Ethereum. M2 Holdings, a conglomerate with digital asset exposure across custody, investment and wealth management, plans to integrate Ethena (ENA) products into client offerings through its affiliate, M2 Global Wealth Limited, according to a Thursday announcement. “M2’s investment in Ethena marks another important step forward for the Middle East’s most sophisticated digital asset investors,” said Kim Wong, managing director and head of treasury at M2 Holdings. Read more

Ethena’s synthetic dollar protocol draws backing from UAE-based M2 Holdings affiliate

YZi Labs has invested further into Ethena to push USDe adoption across more chains and platforms, while also assisting with the development of a new stablecoin. Tech-focused venture capital firm YZi Labs has increased its stake in Ethena, the stablecoin issuer behind USDe, which will assist the digital dollar’s adoption across decentralized and centralized platforms. The investment will assist Ethena USDe’s (USDe) expansion on BNB Chain while enabling Ethena to continue building its USDtb stablecoin and an institutional settlement layer, “Converge,” Changpeng Zhao’s YZi Labs said in a statement on Friday. USDtb is backed by short-duration treasury assets, including BlackRock's BUIDL, while Converge is an Ethereum Virtual Machine-compatible chain focused on tokenizing real-world assets. The move supports YZi’s mission to “support open, scalable digital dollar infrastructures that can serve as a backbone of efficiency and liquidity for the entire financial ecosystem.” Read more

Ethena has partnered with Flowdesk to boost USDe and USDtb access, as USDe surpasses $14 billion in market cap and becomes the third-largest stablecoin. The rapid growth of the Ethena stablecoin ecosystem continued on Friday as Ethena Labs announced a partnership with institutional OTC desk Flowdesk, aimed at expanding access to its two tokens — USDe and USDtb. Flowdesk, whose clients include token issuers, hedge funds and exchanges, will support trading and reward programs tied to both stablecoins, the companies said. USDe is Ethena’s synthetic dollar, backed mainly by crypto assets and stabilized through a delta-neutral hedging strategy that keeps its value pegged to $1. Read more

Prediction markets now overwhelmingly favor Native Markets, but questions about credibility linger as the vote approaches. Ethena, the team behind the USDe synthetic dollar protocol, withdrew its bid to issue Hyperliquid’s USDH stablecoin, conceding to concerns raised in direct discussions with community members and validators.  In a X statement Thursday, the Ethena team acknowledged pushback over not being a Hyperliquid-native project and said it would step aside, congratulating rival Native Markets, now viewed as the frontrunner in the race. “While some are complaining about their [Native Markets] lack of credibility I think their success here perfectly embodies everything which is so special about Hyperliquid and their community,” wrote Ethena Labs founder Guy Young, adding: Read more

Mega Matrix is betting big on Ethena, positioning itself as the first public proxy for the ecosystem as stablecoin regulation heats up. Public holding company Mega Matrix (MPU) has made the Ethena stablecoin ecosystem the centerpiece of its digital asset strategy, betting that the synthetic dollar project can capture market share from incumbents like Circle. The company’s push comes on the heels of the US GENIUS Act, a comprehensive stablecoin bill that establishes federal oversight of issuers, sets capital and liquidity requirements and creates a framework for banks and fintechs to issue dollar-pegged tokens under regulatory supervision. However, Circle is currently the only publicly traded option to capitalize on the enormous growth of stablecoins, Colin Butler, Mega Matrix’s executive vice president and global head of markets, told Cointelegraph. Read more

Ethena’s synthetic stablecoin, USDe, has climbed to over $13 billion in circulation less than a day after it was listed on Binance. DeFiLlama data shows supply jumped nearly 2% in 24 hours to about $13.2 billion, making it the fastest-growing stablecoin in the past day. This rapid expansion has been ongoing over the past month, […] The post Ethena’s USDe stablecoin surges to over $13B after Binance listing appeared first on CryptoSlate.

Ethena joined World Liberty Financial and Paxos in the USDH ring.

Ethena joins Paxos, Frax, Agora, Native Markets and Sky in the race to issue Hyperliquid’s USDH, a mandate tied to $5 billion in liquidity. Ethena Labs became the sixth bidder for Hyperliquid’s USDH stablecoin, announcing its proposal in a Tuesday blog post. The competition will decide who controls billions in liquidity and revenue on one of decentralized finance’s (DeFi) fastest-growing derivatives exchanges. The team behind USDe and USDtb is proposing a version of USDH backed entirely by USDtb, a stablecoin tied to BlackRock’s BUIDL fund and soon to be issued through Anchorage Digital Bank. If selected, Ethena has pledged to return 95% of reserve revenue to the Hyperliquid community and implement safeguards through an elected validator “guardian network.” The protocol has also promised to cover the costs of migrating Hyperliquid’s markets from USDC to USDH and committed at least $75 million in ecosystem incentives, a figure it said could rise to $150 million. Read more

Ethena Labs submitted a proposal on Sept. 9 to become the issuer of Hyperliquid’s native stablecoin USDH, joining an increasingly competitive race. The bid consists of backing USDH entirely by USDtb, a stablecoin backed by BlackRock’s BUIDL fund, with the support of Anchorage Digital. Ethena is committed to returning 95% of net revenue generated from […] The post Ethena enters USDH race supported by BlackRock BUIDL, Anchorage, Securitize appeared first on CryptoSlate.

Ethena’s ENA token leaped over 12% on Saturday following news that StablecoinX Inc. secured an additional $530 million capital raise. The move is part of StablecoinX’s ongoing accumulation strategy for ENA, significantly increasing its token holdings in the Ethena ecosystem. StablecoinX expands ENA holdings StablecoinX has now raised a total of $895 million in private […] The post Ethena token rallies over 12% following StablecoinX’s $530 million capital raise appeared first on CryptoSlate.

TLGY and StablecoinX raised an additional $530 million in financing for its ENA strategy reserve. StablecoinX and TLGY Acquisition have secured an additional $530 million in financing to buy digital assets, bringing total commitments to $890 million ahead of a planned merger and Nasdaq listing. The combined company, to be renamed StablecoinX Inc., is set to hold more than 3 billion ENA, the native token of the Ethena protocol. According to the company, it will be the first dedicated treasury business for the Ethena ecosystem, which issues the USDe and USDtb stablecoins. The capital was raised through a private investment in public equity (PIPE) transaction, which allows public companies to raise capital by selling discounted shares to institutional investors. Read more

The small-cap holding company is betting on Ethena’s ENA governance token, aiming to capture yield from synthetic stablecoin USDe. Mega Matrix, a publicly traded holding company that has shifted into digital assets, filed a $2 billion shelf registration with the US Securities and Exchange Commission (SEC) to fund a stablecoin-focused treasury strategy, underscoring how more firms are experimenting with digital asset reserves. The funding is aimed at the Ethena stablecoin ecosystem, with proceeds directed toward accumulating the protocol’s ENA (ENA) governance token. Mega Matrix said the move is designed to give the company exposure to revenue generated by Ethena’s synthetic stablecoin, USDe, while also securing influence over the protocol’s governance. In SEC terms, a shelf registration is a regulatory filing that lets a company register securities for future issuance, allowing it to sell portions of its stock over time rather than all at once. Read more

Treasury Secretary Scott Bessent’s endorsement of dollar-pegged stablecoins creates a pathway for up to $34 trillion to flow into decentralized finance protocols such as Ethena, Ether.fi, and Hyperliquid. Arthur Hayes reported in his Aug. 27 blog post that Bessent aims to redirect capital from the $13 trillion Eurodollar system and $21 trillion in Global South […] The post Treasury Secretary Bessent’s stablecoin push could drive $34 trillion into Ethena, Etherfi, Hyperliquid appeared first on CryptoSlate.

While the overall stablecoin market is up 4% in August, some synthetic stablecoins, such as Sky Dollar and Falcon USD, have had even more substantial gains. Ethena Labs on Thursday said its Ethena protocol has generated more than $500 million in cumulative revenue. Growth in both revenue and the circulating supply of its synthetic stablecoin, Ethena USDe (USDe), has accelerated since July as synthetic stablecoins gain market share. Ethena Labs shared the news via a post on X, saying that in the past week, protocol revenue hit $13.4 million and USDe supply hit an all-time high of $11.7 billion.  “Ethena’s revenue has been driven by strong inflows into USDe and favorable market conditions that have amplified returns from its delta-neutral hedging reserve model,” an Ethena Labs spokesperson told Cointelegraph. “The protocol’s momentum reflects growing demand for and confidence in USDe as a store of value.” Read more

Crypto price prediction today has assessed Bitcoin’s climb toward a new high and the strong performance of XRP, ENA, and XLM. Market sentiment has been boosted by bullish technicals and evolving U.S. regulation, with analysts eyeing further gains for select cryptocurrencies in the months ahead. The post Crypto Price Prediction Today 11 August – XRP, Ethena, Stellar appeared first on Cryptonews.

Altcoin Season index has edged down to 36, yet rotation into Ethena, Sky, and Curve DAO has persisted. Ethena’s synthetic dollar staking, Sky’s credit pools, and Curve DAO’s stablecoin liquidity have drawn consistent participation, hinting at usage-led momentum despite subdued altseason metrics. The post Altcoin Season Buzz: Ethena, Sky, Curve DAO Drive Yield Hunting Despite Bitcoin Dominance appeared first on Cryptonews.