#MarketNewHype
Ethena Labs has just launched a new stablecoin called USDtb, backed by 90% of BlackRock’s BUIDL tokenization fund! 💰 The stablecoin offers a 1:1 cash-backed reserve model, competing directly with USDC and USDT. 🔄
USDtb is designed to provide stability in the value of tokens pegged to the US dollar, and the backing of BlackRock adds credibility and trust to users. 🌟 With USDtb, users can make digital transactions without any restrictions, making it very useful for a variety of financial operations. 📈
Following this announcement, Ethena’s ENA token saw a 117% surge in price, reaching $1.32, although it is now hovering around $1.20. 🚀 This shows the high level of investor confidence in Ethena Labs, especially after the $500,000 investment from Donald Trump-led World Liberty Financial. 💼
Ethena Labs also plans to connect USDtb with their other stablecoin, USDe, to address potential risks. With this approach, Ethena Labs seeks to maintain diversity and security in managing its digital assets. 🔒
The launch of USDtb opens up new opportunities for Ethena Labs to expand their product portfolio and meet the market demand for reliable stablecoins. So, stay tuned for more news from Ethena Labs! 😊
