Ethena's ENA Token Surges 45% Amid New Product Launches
Ethena’s native token, ENA, surged over 45% this week, fueled by new product releases. Ethena focuses on creating a crypto-native alternative to traditional banking with its synthetic dollar, USDe, and a dollar-based savings product called the "Internet Bond."
Trading at $0.361, up 45% in a week, ENA has jumped to 115th in market cap. Ethena’s partnership with Ethereum restaking protocol EigenLayer now allows USDe to be used as collateral, expanding its utility. Additionally, Ethena launched UStb, a stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund, offering more stable investment options.
Ethena’s innovations are driving its rapid growth in the DeFi space.
