Ethena's USDe Token Gains 8% Boost with Bybit's Backing for Derivatives Trading

Tuesday, 7 May 2024, 16:37

Ethena's ENA experienced an 8% surge following Bybit's endorsement of USDe token as collateral for derivatives trading. The tokenized yield strategy attracted over $2 billion in deposits amidst growing scrutiny over its risks.
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Ethena's USDe Token Gains 8% Boost with Bybit's Backing for Derivatives Trading

Ethena's USDe Token Increase in Value

Ethena's ENA rose by 8% after Bybit endorsed USDe token for derivatives trading.

Attractive Yield Strategy

The token strategy gathered over $2 billion in deposits.

Risk Scrutiny

Some concerns were raised regarding the potential risks associated with the token.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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