Crypto News
Ethena Labs Launches Stablecoin Backed by Blackrock’s BUIDL Fund
Ethena Labs has introduced USDtb, a stablecoin that's got the backing of Blackrock’s USD Institutional Digital Liquidity Fund (BUIDL).
$0.24
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Ethena (ENA) is a decentralized protocol aiming to provide a new stable asset on the Ethereum blockchain that combines the stability of traditional stablecoins with the benefits of decentralized finance (DeFi). Ethena achieves price stability through a combination of algorithmic mechanisms and collateralization, offering users a stable asset backed by crypto assets rather than fiat. ENA token holders can participate in governance, voting on important protocol changes and improvements, making it a community-driven project. As DeFi grows, Ethena is focused on creating a stable asset that can be used across a variety of dApps. For live ENA prices, historical data, and market insights, visit our Ethena Markets page to stay updated on this innovative DeFi project.
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Ethena Labs has introduced USDtb, a stablecoin that's got the backing of Blackrock’s USD Institutional Digital Liquidity Fund (BUIDL).
Ethena has proposed integrating its liquidity and hedging engine into Hyperliquid, a layer one (L1) blockchain set to launch its EVM mainnet.
Current stablecoin metrics show that USDE, the yield-bearing stablecoin, has slipped to fifth place among the top U.S. dollar-pegged tokens.
Over the span of less than two months, Ethena USDE's total market capitalization has decreased by $770 million.
Over the last 22 days, Paypal's PYUSD supply increased by more than 70%, while Ethena's USDE saw an 8.82% decrease within the past 13 days.
Ethena’s yield-bearing stablecoin USDE led the growth this past month, with its supply increasing by 21.4% since May.