BlackRock Boosts ENA Coin’s Surge

Why is ENA Coin Rising?

Previously, MakerDAO announced plans to tokenize some of its treasury bonds, attracting interest from BlackRock and propelling the MKR Coin upwards. A similar scenario is unfolding for ENA Coin. The ENA team is currently gathering proposals to tokenize their reserve bonds into U.S. bonds, with BlackRock’s BUILD product, valued at over $500 million, among the contenders.

MakerDAO intends to tokenize $1 billion, while Ethena plans a smaller scale effort. The governance team at Ethena has highlighted their strategy to tokenize a portion of their $235 million USDT assets, constituting roughly 7% of their collateral assets and $45 million in excess reserves. BlackRock’s BUIDL fund is poised to support $34 million of these reserves.

What Could Drive Altcoin Increases?

ArbitrumDAO also explores acquiring tokenized bonds in exchange for 35 million ARB Tokens. These initiatives could foster altcoin growth due to the prospect of collaboration with a formidable partner like BlackRock in the RWA field.

Key Takeaways for Investors

• ENA Coin’s recent 10% surge is closely tied to BlackRock’s interest and involvement.
• Tokenization of treasury bonds by prominent platforms like MakerDAO and Ethena can significantly impact altcoin values.
• Partnerships with established financial entities like BlackRock provide a boost in credibility and potential market movements.

The post first appeared on BH NEWS: BlackRock Boosts ENA Coin’s Surge