Aave

Future

Solana

Ethena

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/deribit-integrates-usde-as-margin-collateral-for-enhanced-user-experience/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Deribit Integrates USDe as Margin Collateral for Enhanced User Experience</a> 
Leading <a href="https://en.coin-turk.com/tia-coin-and-bitcoin-experience-significant-market-movements/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> derivatives exchange Deribit announced the integration of synthetic dollar USDe, developed by Ethena Labs, as margin collateral. This innovation allows users to earn rewards by holding USDe and to use the asset as collateral in derivatives trading. The integration is expected to be active in the cross-margin pool by early January.
<h2 style="text-align: justify" id="strong-increased-flexibility-and-reward-opportunities-with-usde-strong">Increased Flexibility and Reward Opportunities with USDe</h2>
The integration of USDe into Deribit presents significant advantages for users. Ethena Labs stated that this move will create new product use cases in the cryptocurrency derivatives market. Guy Young remarked that accepting USDe as collateral on Deribit will enhance trading strategies for users in both traditional and cryptocurrency markets. Given Deribit’s 85% share in the global options market, this step is anticipated to accelerate USDe adoption.
USDe can also be used as collateral on other platforms like Bybit, Bitget, and Gate. This broadens the user base for USDe and allows users to earn additional income by holding USDe while implementing various exchange strategies. This innovation boosts the flexibility of the synthetic dollar and the advantages it offers to users.
<h2 style="text-align: justify" id="strong-ena-price-increases-by-20-and-future-expectations-strong">ENA Price Increases by 20% and Future Expectations</h2>
Following the news of USDe’s integration into Deribit, Ethena Labs’ native <a href="https://en.coin-turk.com/trump-themed-cryptocurrency-plummets-by-95/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> ENA increased by 20% in value over the last 24 hours. The trading price of ENA rose to $0.62, with trading volume also seeing a 78% increase. This development is believed to have heightened interest in ENA and strengthened market expectations.
Ethena Labs suggested strengthening USDe reserves with Solana and liquid staked assets last month. The company also integrated with Aave to facilitate broader use of USDe, offering lending options and annual returns of up to 30%.
Deribit’s integration of USDe creates new opportunities for users while fostering a positive atmosphere in the markets. Experts predict that this innovation will lead to broader adoption in the cryptocurrency derivatives market. Deribit continues to work on the integration process, which is contingent on regulatory approvals.
The post <a href="https://en.coin-turk.com/deribit-integrates-usde-as-margin-collateral-for-enhanced-user-experience/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Deribit Integrates USDe as Margin Collateral for Enhanced User Experience</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Deribit Integrates USDe as Margin Collateral for Enhanced User Experience

Table of Contents

COINTURK NEWS

Other articles published on Nov 22, 2024

Cardano Price Prediction: As ADA Hits 2.5-Year High, Whales Pump Another $320K Into Pepe Unchaine...

Trillion-dollar firm Charles Schwab President reveals plans to enter the spot crypto market

Spot Bitcoin ETFs Attract Significant Investment in the U.S.

U.S. DOJ Investigating Polymarket for Alleged U.S. Citizen User Activity

Bitcoin Price Surges, Triggers Interest in Altcoin Predictions

Google Cloud to Back BNB Chain's MVB Program with $10M in Cloud Service Credits

Join our free newsletter for daily crypto updates!