YZi Labs, linked to CZ, increases its bet on Ethena as USDe skyrockets to $13 billion and TVL hits $14.22 billion. ENA drops by 35% to $0.67, stuck below $0.85, but the expansion on BNB Chain, USDtb (GENIUS Act), and Converge (with BlackRock) hints at a potential rebound. Explore the future prospects of this stablecoin cornerstone.
In the constantly evolving crypto ecosystem, investments and technological advancements continue to shape the future of digital finance. Recently, YZi Labs, the venture capital firm owned by former Binance CEO Changpeng Zhao, has strengthened its support for Ethena Ena, the protocol behind the USDe stablecoin.
This decision is explained by the impressive growth of USDe, whose supply has reached $13 billion, as well as the protocol’s total value locked (TVL) which has climbed to $14.22 billion. These figures demonstrate the strong adoption of stablecoins, a key element in YZi Labs’ vision for digital dollar infrastructure.
Despite these positive developments, Ethena’s native token, ENA, has fallen by more than 35% in two weeks after failing to break through the $0.85 resistance. Analysts now fear a more significant correction if support isn’t maintained. Investors are closely monitoring potential catalysts for a rebound.
But Ethena isn’t stopping there. The protocol recently expanded its presence on the BNB Chain in April, paving the way for new opportunities in money markets, protocol integrations, and ecosystem partnerships. This reinforced support from YZi Labs should accelerate these efforts.
Furthermore, Ethena is preparing the launch of USDtb, a fiat-backed stablecoin designed to comply with the American GENIUS Act. Simultaneously, the protocol is developing Converge, a settlement layer built with tokenization partners Securitize and BlackRock, aiming to integrate institutional-grade real-world assets on the blockchain.
In conclusion, YZi Labs’ investment in Ethena demonstrates Changpeng Zhao’s confidence in the future of stablecoins and digital dollar infrastructure. Although the ENA token is currently experiencing difficulties, Ethena’s expansion plans could open new perspectives for investors and potentially drive its price higher.
According to analyst Al_charts, if ENA maintains above $0.60, it could experience a 30% rebound in the coming days.
Here’s how to benefit by easily purchasing the token on Zoomex:
On the same topic:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
