Ethereal

Ethena

BlackRock

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereal-exchange-proposes-integration-with-ethena-community/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereal Exchange Proposes Integration with Ethena Community</a> 
Ethereal, an integrated spot and futures DEX, has requested approval from the Ethena community for the direct integration of reserve management post-launch. This step aims to provide a fully on-chain platform for managing USDe-backed spot and derivative positions.
<h2 id="ethereal-s-integration-proposal-with-ethena">Ethereal’s Integration Proposal with Ethena</h2>
On September 20, Ethereal Exchange submitted a proposal for a governance vote in the Ethena forum. This proposal, based on USDe, calls for the launch of a spot and futures exchange integrated with Ethena’s risk management engine and liquidity.
<blockquote>
 “We seek support from the Ethena community for integration with Ethereal. With satisfactory technical reviews conducted by the Ethena Foundation and the Risk Committee, we aim to establish a platform for executing risk management operations.”
</blockquote>
This initiative will provide an expanded use case and demand for USDe. If accepted, the proposal includes allocating 15% of potential Ethereal governance tokens to ENA holders. The Ethena community is actively discussing mutual benefits and added value.
<h2 id="changes-in-ena-price">Changes in ENA Price</h2>
Reacting swiftly to Ethereal Exchange’s new proposal, traders assessed developments within the Ethena ecosystem. Last week, Ethena Labs announced the launch of UStb stablecoin, fully collateralized by BlackRock and Securitize.
The ENA price surged from 0.3496 to 0.4179 in just 24 hours after a nearly 50% rally over the past week. Currently, ENA is trading at $0.411, reflecting a 20% increase in the last 24 hours. Additionally, trading volume rose by 145% in the same period, indicating significant interest among traders.
There is also strong demand in futures trading. According to Coinglass data, ENA futures open interest increased by 13% in four hours and by 20% in 24 hours. Significant buying activity has been observed on exchanges like <a href="https://en.coin-turk.com/cyber-coins-price-surges-as-binance-announces-futures-listing/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, Bybit, and <a href="https://en.coin-turk.com/bingx-partners-with-chelsea-football-club-for-training-kit-sponsorship/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a>, with total open positions in ENA futures reaching $190 million.
Ethereal V1 operates as an L3 EVM application network integrated with the Ethena Network. The completion of the testnet is planned for Q4 of this year, with the DEX launch scheduled for 2025.
Ethereal’s integration proposal with Ethena is leading to a notable increase in ENA’s market value, while the Ethena ecosystem is strengthening through new collaborations and token demands. These developments could enhance the positions of both projects and boost trader interest in the <a href="https://en.coin-turk.com/ftxs-valuation-soars-amidst-bankruptcy-proceedings/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a>.
The post <a href="https://en.coin-turk.com/ethereal-exchange-proposes-integration-with-ethena-community/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereal Exchange Proposes Integration with Ethena Community</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ethereal Exchange Proposes Integration with Ethena Community

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