bullish

FTX Token

when

USDe

Ethena

<p>The price of Ethena (ENA) has surged by more than 10% today, marking a significant rise following a bullish trend that began in mid-September. This upward momentum started when ENA broke free from a five-month-long descending channel, resulting in a price increase of nearly 100%.</p>
<p>The breakout has undoubtedly been a major factor driving the price rise, but there are also fundamental developments contributing to the positive sentiment surrounding the project.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-1024x480.png" alt="" class="wp-image-562052" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-1024x480.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-768x360.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-1536x720.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-2048x960.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-320x150.png 320w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-746x350.png 746w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757-788x369.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-757.png 1802w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="securitize-partnership-with-ethena-for-ustb">Securitize Partnership With Ethena for UStb</h2>
<p><a href="https://securitize.io/" target="_blank" rel="noopener noreferrer nofollow">Securitize </a>expressed pride in partnering with @ethena_labs for the upcoming launch of UStb, a new stablecoin intended to invest its reserves in @BlackRock’s tokenized U.S. Treasuries fund, BUIDL.</p>
<p>With over $522 million in assets, BUIDL stands as the largest tokenized U.S. Treasuries fund, providing UStb with a solid foundation. This collaboration signifies a pivotal moment in the evolution of tokenized finance, merging leading innovations in stablecoins and real-world asset tokenization.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/ftx-token-ftt-price-explodes-60-amid-payout-rumors-but-whats-next/" target="_blank" rel="noopener noreferrer nofollow">FTX Token (FTT) Price Explodes 60% Amid Payout Rumors, But What’s Next?</a></em></strong></p>
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   <p lang="en" dir="ltr">Securitize is proud to partner with <a href="https://twitter.com/ethena_labs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ethena_labs</a> for the planned launch of UStb, a new stablecoin which intends to invest its reserves in <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@BlackRock</a>’s tokenized U.S. Treasuries fund, BUIDL.<br><br>As the largest tokenized U.S. Treasuries fund with over $522 million in assets, BUIDL… <a href="https://t.co/vUotXe6PJZ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/vUotXe6PJZ</a></p>— Securitize (@Securitize) <a href="https://twitter.com/Securitize/status/1839285964398539172?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 26, 2024</a>
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<h2 class="wp-block-heading" id="ethena-labs-partnership-with-blackrock">Ethena Labs Partnership With BlackRock</h2>
<p>Ethena Labs shared their excitement about the introduction of UStb, which will be fully backed by <a href="https://www.blackrock.com/corporate/about-us" target="_blank" rel="noopener noreferrer nofollow">@BlackRock BUIDL </a>through a partnership with @Securitize. This stablecoin will operate as a separate fiat stablecoin product alongside USDe, offering users and exchange partners a new option with a differentiated risk profile.</p>
<p>Initially, there were concerns within the community regarding how USDe would perform in negative funding rate environments. However, despite bearish conditions over the last six months, Ethena’s USDe has managed to avoid any weeks of negative funding.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/crypto-all-stars-presale-to-hit-2-million-this-week-investors-expect-20x-gains-or-higher-upon-listing/" target="_blank" rel="noopener noreferrer nofollow"> Crypto All-Stars Presale To Hit $2 Million This Week – Investors Expect 20X Gains Or Higher Upon Listing</a></em></strong></p>
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   <p lang="en" dir="ltr">We are excited to announce Ethena's newest product offering: UStb<br><br>UStb will be fully backed by <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Blackrock</a> BUIDL in partnership with <a href="https://twitter.com/Securitize?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Securitize</a>, enabling a separate fiat stablecoin product alongside USDe<br><br>Details below on why this is important: <a href="https://t.co/jOIoMef7W3" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/jOIoMef7W3</a></p>— Ethena Labs (@ethena_labs) <a href="https://twitter.com/ethena_labs/status/1839258925981642834?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 26, 2024</a>
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<p>Furthermore, if necessary, USDe’s backing composition can dynamically adjust between basis positions and liquid stable products depending on interest rate conditions.</p>
<p>In scenarios of weak funding, USDe could potentially incorporate UStb, allowing Ethena to mitigate risks associated with negative funding rates.</p>
<p>Additionally, as Ethena expands into centralized exchange (CEX) collateral offerings beyond its current integrations with @Bybit_Official and @bitgetglobal, it can provide exchange partners with the choice of two distinct products for margin collateral.</p>
<p>Ethena Labs concluded by announcing that they would soon share updates on UStb</p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-ethenas-ena-price-is-pumping/" rel="noopener noreferrer nofollow">Here’s Why Ethena’s ENA Price Is Pumping</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why Ethena’s ENA Price Is Pumping

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