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Ethena (ENA) Price Jumps as Bybit Endorses USDe Token as Collateral for Crypto Derivatives Trading

Altszn.com by Altszn.com
May 7, 2024
in Ethereum
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Ethena (ENA) Price Jumps as Bybit Endorses USDe Token as Collateral for Crypto Derivatives Trading
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The protocol’s USDe token, often referred to as “synthetic dollar” instead of a stablecoin, is a structured finance product wrapped in a token. It offers steady yields to investors by using ETH liquid staking derivatives such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep anchored at $1 price. This strategy is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield.



Read More: www.coindesk.com

Tags: BybitCollateralCryptoDerivativesENAEndorsesETHEthenaEthereumjumpsPriceTokenTradingUSDE
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    • bitcoinBitcoin (BTC) $ 104,610.00
    • ethereumEthereum (ETH) $ 2,521.23
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.38
    • bnbBNB (BNB) $ 657.83
    • solanaSolana (SOL) $ 174.27
    • usd-coinUSDC (USDC) $ 0.999973
    • dogecoinDogecoin (DOGE) $ 0.234916
    • cardanoCardano (ADA) $ 0.802224
    • tronTRON (TRX) $ 0.262360
    • staked-etherLido Staked Ether (STETH) $ 2,518.45
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 104,609.00
    • suiSui (SUI) $ 4.00
    • chainlinkChainlink (LINK) $ 16.74
    • wrapped-stethWrapped stETH (WSTETH) $ 3,028.83
    • avalanche-2Avalanche (AVAX) $ 24.79
    • stellarStellar (XLM) $ 0.307423
    • shiba-inuShiba Inu (SHIB) $ 0.000016
    • hedera-hashgraphHedera (HBAR) $ 0.208998
    • the-open-networkToncoin (TON) $ 3.44
    • pi-networkPi Network (PI) $ 1.15
    • hyperliquidHyperliquid (HYPE) $ 24.73
    • bitcoin-cashBitcoin Cash (BCH) $ 412.70
    • usdsUSDS (USDS) $ 0.999893
    • polkadotPolkadot (DOT) $ 5.10
    • leo-tokenLEO Token (LEO) $ 8.34
    • litecoinLitecoin (LTC) $ 101.51
    • wethWETH (WETH) $ 2,520.27
    • moneroMonero (XMR) $ 330.39
    • wrapped-eethWrapped eETH (WEETH) $ 2,690.38
    • bitget-tokenBitget Token (BGB) $ 4.89
    • pepePepe (PEPE) $ 0.000014
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999074
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 104,633.00
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • whitebitWhiteBIT Coin (WBT) $ 30.29
    • uniswapUniswap (UNI) $ 7.07
    • bittensorBittensor (TAO) $ 455.38
    • nearNEAR Protocol (NEAR) $ 3.19
    • aptosAptos (APT) $ 5.99
    • daiDai (DAI) $ 0.999796
    • aaveAave (AAVE) $ 221.80
    • okbOKB (OKB) $ 55.53
    • ondo-financeOndo (ONDO) $ 1.05
    • ethereum-classicEthereum Classic (ETC) $ 19.95
    • internet-computerInternet Computer (ICP) $ 5.69
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • crypto-com-chainCronos (CRO) $ 0.100631
    • susdssUSDS (SUSDS) $ 1.05
    • official-trumpOfficial Trump (TRUMP) $ 14.04
    • bitcoinBitcoin (BTC) $ 104,610.00
    • ethereumEthereum (ETH) $ 2,521.23
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.38
    • bnbBNB (BNB) $ 657.83
    • solanaSolana (SOL) $ 174.27
    • usd-coinUSDC (USDC) $ 0.999973
    • dogecoinDogecoin (DOGE) $ 0.234916
    • cardanoCardano (ADA) $ 0.802224
    • tronTRON (TRX) $ 0.262360
    • staked-etherLido Staked Ether (STETH) $ 2,518.45
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 104,609.00
    • suiSui (SUI) $ 4.00
    • chainlinkChainlink (LINK) $ 16.74
    • wrapped-stethWrapped stETH (WSTETH) $ 3,028.83
    • avalanche-2Avalanche (AVAX) $ 24.79
    • stellarStellar (XLM) $ 0.307423
    • shiba-inuShiba Inu (SHIB) $ 0.000016
    • hedera-hashgraphHedera (HBAR) $ 0.208998
    • the-open-networkToncoin (TON) $ 3.44
    • pi-networkPi Network (PI) $ 1.15
    • hyperliquidHyperliquid (HYPE) $ 24.73
    • bitcoin-cashBitcoin Cash (BCH) $ 412.70
    • usdsUSDS (USDS) $ 0.999893
    • polkadotPolkadot (DOT) $ 5.10
    • leo-tokenLEO Token (LEO) $ 8.34
    • litecoinLitecoin (LTC) $ 101.51
    • wethWETH (WETH) $ 2,520.27
    • moneroMonero (XMR) $ 330.39
    • wrapped-eethWrapped eETH (WEETH) $ 2,690.38
    • bitget-tokenBitget Token (BGB) $ 4.89
    • pepePepe (PEPE) $ 0.000014
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999074
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 104,633.00
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • whitebitWhiteBIT Coin (WBT) $ 30.29
    • uniswapUniswap (UNI) $ 7.07
    • bittensorBittensor (TAO) $ 455.38
    • nearNEAR Protocol (NEAR) $ 3.19
    • aptosAptos (APT) $ 5.99
    • daiDai (DAI) $ 0.999796
    • aaveAave (AAVE) $ 221.80
    • okbOKB (OKB) $ 55.53
    • ondo-financeOndo (ONDO) $ 1.05
    • ethereum-classicEthereum Classic (ETC) $ 19.95
    • internet-computerInternet Computer (ICP) $ 5.69
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • crypto-com-chainCronos (CRO) $ 0.100631
    • susdssUSDS (SUSDS) $ 1.05
    • official-trumpOfficial Trump (TRUMP) $ 14.04