Latest news with #Ethena
Cision Canada
5 hours ago
- Business
- Cision Canada
Bybit Becomes First Exchange to Offer Direct Access to USDtb Minting and Redemption
DUBAI, UAE, June 10, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has introduced a major upgrade to its On-Chain Earn product, making it the first exchange to offer direct minting and redemption of USDtb without any access restrictions. Users can now access USDtb instantly — no applications, no waiting. USDtb is a next-generation stablecoin developed by Ethena, designed to maintain a 1:1 value with the U.S. dollar. Rather than being backed by cash reserves, USDtb is collateralized by U.S. Treasury assets — yield-generating government securities. This structure enables USDtb to offer the best of both worlds: the stability of traditional finance combined with the speed and flexibility of crypto. For users, it provides access to a liquid and income-generating asset, all in one. With this update, users can now mint USDtb directly by depositing USDT, USDC, or USDe through Bybit. The process is fast, simple, and requires no intermediaries. When it's time to redeem, USDtb can be instantly swapped back into those same stablecoins — no delays, no hidden steps. "Stablecoin yield is entering a new era," said Emily Bao, Head of Spot at Bybit. "Bybit's integration of direct USDtb minting removes longstanding barriers and empowers users with the autonomy and liquidity they expect from the future of on-chain finance." Before this upgrade, getting USDtb was limited to spot trading or restricted access through Ethena. Now, with Bybit On-Chain Earn, anyone who completes Identity Verification Level 1 and deposits at least 5,000 USDT, USDC, or USDe can start minting USDtb right away — and automatically earn dynamic yields without staking or lock-ups. There are no gas fees, and the process takes just one transaction. USDtb minting is now live on Bybit On-Chain Earn. Full terms and details are available on the platform. #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at
Arabian Post
3 days ago
- Business
- Arabian Post
MEXC Advances Stablecoin Growth Following Strategic USDe Acquisition
MEXC, a prominent digital asset exchange, has accelerated its stablecoin expansion strategy after acquiring $20 million worth of USDe tokens, marking a notable milestone as its stablecoin ecosystem surpasses a $100 million total value locked . This move signals a determined push by MEXC to strengthen its position in the increasingly competitive stablecoin market and further diversify its crypto offerings. The $20 million USDe acquisition represents a calculated effort to bolster liquidity and adoption of stablecoins pegged to the US dollar, which have become vital in reducing volatility within the cryptocurrency sector. Stablecoins like USDe offer users a more reliable medium of exchange and store of value compared to traditional cryptocurrencies, which can experience dramatic price swings. MEXC's increasing focus on stablecoins aligns with global trends where institutional and retail investors seek safer avenues for digital asset investment amid regulatory uncertainties and market fluctuations. Beyond the recent purchase of USDe, MEXC's stablecoin portfolio has seen sustained growth, pushing the platform's total stablecoin value locked to exceed $100 million. This figure reflects the combined assets users have committed within MEXC's stablecoin ecosystem, encompassing liquidity pools, staking, and yield farming products. The growing TVL not only underscores user confidence but also enhances the exchange's capacity to support high-volume trading and DeFi activities anchored by stablecoins. ADVERTISEMENT MEXC's engagement in the stablecoin space builds upon its earlier strategic $16 million investment in Ethena, a notable innovator specialising in stablecoin technology and ecosystem development. Ethena's platform focuses on creating programmable, algorithmic stablecoins that aim to maintain price stability through decentralised governance and dynamic supply adjustments. By backing Ethena, MEXC has positioned itself at the forefront of stablecoin innovation, tapping into emerging technologies that could redefine how digital currencies achieve and sustain their peg. The decision to invest heavily in USDe and Ethena also comes amid rising competition among exchanges and financial platforms seeking to capture market share in stablecoin issuance and trading. Major players like Tether , USD Coin , and Binance USD dominate market capitalization, but newer tokens like USDe have gained traction through enhanced transparency, regulatory compliance, and blockchain interoperability. MEXC's adoption of USDe highlights its intent to diversify beyond the dominant incumbents, offering users alternatives that may align better with evolving regulatory frameworks. Industry experts note that the integration of stablecoins into broader financial systems remains a critical driver for crypto adoption. Stablecoins facilitate cross-border payments, remittances, and decentralised finance applications with reduced friction and costs compared to fiat-based mechanisms. MEXC's strategy of expanding its stablecoin offerings enhances its utility as a hub for such financial activities, making it attractive to a wider range of traders and developers. Regulatory clarity surrounding stablecoins has varied globally, with some jurisdictions imposing stringent requirements while others promote innovation-friendly policies. MEXC, headquartered in Seychelles with a growing international presence, has adapted to this shifting landscape by aligning its stablecoin partnerships with platforms like Ethena that emphasise compliance and governance transparency. This approach aims to pre-empt potential regulatory hurdles and establish MEXC as a responsible player in the digital currency ecosystem. The growth in MEXC's TVL also corresponds with increased user engagement in decentralised finance products facilitated by stablecoins. Yield farming and staking opportunities offered on the platform encourage users to lock their assets in exchange for rewards, helping to boost liquidity and network activity. These products often depend on stablecoins to mitigate risk, offering participants a balance between yield generation and capital preservation. ADVERTISEMENT Market analysts observe that the stablecoin sector is poised for further expansion as demand for digital dollar substitutes rises. Factors such as increasing institutional interest, the rise of central bank digital currencies , and the ongoing integration of blockchain technology into mainstream finance all contribute to stablecoins becoming indispensable in the crypto landscape. MEXC's proactive steps to expand its stablecoin infrastructure may provide a competitive advantage as these trends accelerate. The $100 million TVL milestone not only demonstrates MEXC's capability to attract substantial user funds but also reflects confidence in the exchange's technical infrastructure and security protocols. Ensuring safe custody and seamless transactions is crucial for stablecoin platforms, given the heightened regulatory scrutiny and user concerns over fraud and hacking incidents in the sector. MEXC's roadmap indicates continued efforts to broaden its stablecoin offerings, with potential plans to incorporate additional tokens and enhance cross-chain compatibility. This would enable users to transact stablecoins across multiple blockchain networks, facilitating greater interoperability and expanding MEXC's reach within the decentralised finance space. The exchange also plans to deepen its collaboration with DeFi projects and developers, positioning stablecoins as a foundational component for innovative financial products. This aligns with broader industry movements where stablecoins serve as the backbone for lending protocols, decentralised exchanges, and payment solutions.
Cision Canada
6 days ago
- Business
- Cision Canada
MEXC Drives Stablecoin Expansion After $20M USDe Purchase and $100M TVL Milestone
VICTORIA, Seychelles, June 4, 2025 /CNW/ -- MEXC, a leading global cryptocurrency exchange, is shaping its long-term strategy, based on its mission – making crypto more accessible to everyone and building trust within the community. Being a significant player in the market, MEXC drives the whole industry. The effect of its recent investments on the crypto space globally is hard to overestimate. As part of this strategy, the exchange has previously made a significant investment of $16 million in Ethena, a leading innovator in the stablecoin space. The investment follows MEXC's recent acquisition of $20 million worth of USDe, Ethena's synthetic dollar, which caused a surge in ENA's trading volume and boosted USDe's total value locked (TVL). In May 2025, the TVL of USDe in MEXC recorded a value above $100 million, making it the second-largest holder of USDe TVL among centralized exchanges. This growth aligns with the broader rise of USDe, whose circulating supply has reached nearly $5.2 billion — making it the fourth-largest stablecoin by market capitalization. The trust in this coin is backed up by several factors. In contrast to some highly volatile crypto assets, USDe exhibits greater price stability. Also, Ethena employs a unique strategy for maintaining the dollar peg, combining derivatives and on-chain liquidity. To encourage users to experience and trade USDe, MEXC launched several events and promotional campaigns, including one with an impressive prize pool of $1 million. Other incentives include zero trading fees, presented as a limited-time Trader's Fest, aimed at attracting crypto professionals and those who are making their first steps. Within this offering, traders can take advantage of zero-fee trading pairs. To appeal to risk-averse crypto investors, MEXC comes out with exclusive staking rewards with generous APR (annual percentage rate). These incentives, targeted to various crypto user groups, offer simplicity, innovation and customization. They drive industry as a whole and build confidence among market participants by promoting stablecoins as a more trustworthy instrument and emphasizing transparency and security of operations. These efforts, benefiting not only MEXC itself, but the crypto market on a larger scale, are followed by astonishing numbers. For instance, in March, the quantity of ENA holders increased by 30%, ENA TVL increased by 14%, and the daily trading volume of ENA increased by 885%. The average spot daily trading volume in March increased by 557% compared to February's numbers. By May 2025, ENA's market capitalization reached 1.96 billion USD, marking a substantial growth from February 2025, when its market cap was approximately half that amount at 1.07 billion USD. To sum up, MEXC, a cryptocurrency exchange with a years-long history (it was founded in 2018) is making investments in innovative, but at the same time secure instruments. This move emphasizes MEXC's values and sets positive trends for the crypto industry in the long-term perspective. Founded in 2018, MEXC is committed to being "Your Easiest Way to Crypto." Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
Bloomberg
30-05-2025
- Business
- Bloomberg
Saylor's Contrarian Bet Morphs Into Full-Blown Crypto Gold Rush
TLGY Acquisition Corp. put a pitch in front of investors in April entitled 'MicroStrategy 2.0,' a reference to the Bitcoin-accumulation company run by Michael Saylor. Only TLGY wasn't planning to buy Bitcoin. Instead, the special purpose acquisition company planned to acquire ENA tokens issued by Ethena, the crypto project behind the industry's fourth-largest digital dollar, according to an investor memo reviewed by Bloomberg News. TLGY initially signed a letter of intent with the Ethena Foundation to explore a potential partnership on April 10.
![Ethena [ENA] whales lock in losses, but did they exit too soon?](/_next/image?url=https%3A%2F%2Fusercontent.one%2Fwp%2Fwww.businessmayor.com%2Fwp-content%2Fuploads%2F2025%2F05%2F1747718634_Ethena-ENA-whales-lock-in-losses-but-did-they-exit.jpg%3Fmedia%3D1711454622&w=3840&q=100)
![Ethena [ENA] whales lock in losses, but did they exit too soon?](/_next/image?url=https%3A%2F%2Fstatic-mobile-files.s3.eu-central-1.amazonaws.com%2Fbusinessmayor.png&w=48&q=75){kind=small}
Business Mayor
20-05-2025
- Business
- Business Mayor
Ethena [ENA] whales lock in losses, but did they exit too soon?
Whale took a 13% loss after a 3-month trade as another opens a 10x long on ENA and closes with a loss. ENA price was trading above a descending channel, and a break back into the pattern could mean a continued drop. Ethena [ENA] was down about 7.60% despite trading volume surging 85% in the last 24 hours as of press time. The altcoin could be set for significant moves in either direction, but the whales' activities presented a direction dilemma. Are ENA whales exiting too early? A whale purchased 15.473 million ENA at an average price of $0.404. After unstaking, they deposited the remaining 12.16 million ENA—worth $4.42 million—into Binance at $0.347. This marked the end of a three-month ENA trade, resulting in a loss of $817K, approximately 13.1%. In total, the whale has sold 15.66 million ENA, valued at $5.43 million. Source: TradingView Another whale deposited $10.1 million USDC into Hyperliquid, taking long positions in ENA, PEPE, and NEAR, incurring a $400,000 cost in the process. As the price range tightened, buyers stepped in, hinting that the market might be gearing up for a rally. However, ENA's capitulation seemed driven by selling pressure, despite the price remaining above a downward channel. This raises questions about timing—did the whales move too soon? Will history repeat as USDe supply surges? The price of the altcoin stood at $0.3531, at press time, a bit above its upper border, suggesting it may soon rebound from its long-lasting descending channel. After a surge earlier in May pushed the price up beyond $0.40, it pulled back a bit. If ENA maintains a higher value than the channel lines, it could move higher to $0.50, with $0.8019 as the bigger target. If ENA falls below $0.35, it could reverse and move back to lower levels below $0.28. The MACD analysis showed that the MACD line and the signal line were intersecting at 0.0151, while the histogram remained flat—indicating neutral momentum. Source: Trading View When market uncertainty is high, a major price move can occur—either buyers will take control, or sellers break support again. The upper boundary of the descending channel acted as a critical support level, but until price action confirmed a breakdown, the level remained intact. A price above $0.35 could signal strength, but dropping below it might trigger a fresh sell-off. At the time, it was unclear whether ENA's position would gain traction or weaken further. Meanwhile, Ethena's stablecoin, USDe, saw a $300 million surge in supply over the past week as funding rates improved. This mirrors a similar event from October 2024, when USDe skyrocketed from $0.25 to a record high of $1.25. Source: CoinMarketCap Now that the situation was similar, many were convinced another bold move for ENA was beginning. If what history tells us is correct, this would be the beginning of big advances at Ethena Labs, so this could draw investors who hope to gain great profits.
