Ethena Labs has significantly changed the reserve strategy for its synthetic stablecoin USDe by reducing reliance on perpetual futures from the majority to just 11% of total backing. The new reserve mix now includes stablecoin reserves, DeFi lending, and expanded real-world assets such as collateralized loan obligations and corporate bonds. Ethena is also finalizing lending deals with institutional players like Anchorage Digital and Coinbase Asset Management to offer stablecoin loans. This diversification aims to reduce risk from volatile crypto funding rates and has boosted investor confidence, reflected in a 7% rise in the governance token ENA's price.
Ethena (ENA) holders are increasingly profitable, with daily transaction volumes in profit surpassing those in loss, indicating many holders are above their cost basis. Whale and retail trader activity has risen alongside ENA trading above its 20-day...
Bitcoin stabilized around $62,600 after a recent drop from $64,400 to $61,800, with significant liquidations mostly affecting long positions. South Korea's KOSPI index has fallen 10% since Friday, causing a massive 1,426% surge in crypto trading volu...
Ethena (ENA) has gained 14.11% since early July, reclaiming short-term resistance at $0.08, helped by strong user deposits via Robinhood Earn. However, the token remains down 94% from its all-time high and faces a bearish long-term trend with key res...
