Token of governance of the Protocol of Decentralized Finance Ethena On Tuesday, it increased on Tuesday in its strongest way since the end of January, since the protocol has taken a big step to activate a rate change that would share the protocol income to tokens holders.
The Token reached 87 cents in the early hours, moving 8.3% in the last 24 hours, according to Coendesk data. More than 20% in a week.
The last increase occurred as Binance, the largest exchange of volume cryptography, said on the early Tuesday that the trade with USDE will present, the token generator of yield of $ 13 billion of Ethena, on its platform as of Wednesday.
Histing the token in the upper exchanges is a key requirement for Ethena to enable the mechanism of rate change, sharing protocol profits with the headlines of tokens ENA. The protocol won $ 54 million in revenues last month and more than $ 480 million since its launch at the end of 2023, as shown in the Token Terminal data.
“With the rate switch of the Listing List of Binance will turn on. That unlocks $ 500 million repurchases,” said Arthur Hayes, co -founder of Bitmex and an outstanding investor in Ethena.
Ethena catalysts
In addition to the list, there have recently been many things for Ethena.
The Ethena USDE token was made at almost $ 13 billion of $ 5.5 billion in July through July while cryptographic investors pursue yields. USDE, marketed as a “synthetic dollar”, uses Bitcoin ether (Eth) and the sun of Solana (SUN) As support assets, combining them with an equal value of positions of short perpetual futures.
The strategy generates income in its assets derived from support when perpetual financing rates are positive and transmit some of the income as yield for investors. Currently, the USDE pays an annualized 6.5% yield for those who lie their tokens, higher than traditional monetary market funds and the USDC loan rates, the USDT in the lender Defi Aave.
Ethena also participates in the Treasury Fever of Digital Assets that captivate securities markets. Stablecoinx and Tlgy, two companies about to merge and appear in Nasdaq, raised $ 530 million to accumulate tokens ENA as a public vehicle.
The protocol also participates in the Stablecoin Business Business. He is launching the native stablecoin for Ethereum Scaling Network Megaeth and insinuated to enter the competition to broadcast popular derivatives exchanges the next Hyperliquid stablecoin.
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