Bittime - Ethena Labs (ENA), a decentralized blockchain protocol, is revolutionizing hedge fund practices through tokenization. Recently, the listing of the $ENA token on Binance (the world's largest crypto exchange) sparked turmoil in the crypto industry.
However, another project, ETFswap (ETFS), is attracting attention in the crypto market. Many communities are speculating about the possible listing of ETFS's native token, ETFS, on Binance. This is driven by important pre-sales currently underway.
Ethena (ENA) Resurrects Memories of Fallen Terra with Stablecoin USDe
Ethena Labs, a decentralized protocol, introduced USDe, a synthetic dollar stablecoin that generates profits through tokenization in cash and in kind.
Since its launch in February, USDe has sparked debate in the crypto community due to its similarities to UST, a stablecoin on the collapsed Terra ecosystem.
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TVL Significant Factors
Users who staked USDe for a minimum of seven days saw annualized returns of around 37%, a significant factor that pushed Total Value Locked (TVL) from $178 million to over $2 billion in just two months.
Comparison of USDe and Ethena ($ENA)
Offering high interest on crypto assets is indeed attractive to maximize profits, but remember that this is directly proportional to the risk.
The case of Terra UST with returns of almost 20% before experiencing a collapse is an example. The founder of Ethena Labs, Guy Young, himself stated that the comparison of USDe and UST is inappropriate.
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Current Price of Ethena ($ENA).
Currently, ENA's native token, ENA, is trading at $1.28, down more than 12.88% in the last 24 hours and occupies the 52nd position on the list of cryptocurrencies on Coinmarketcap.
ETFSwap (ETFS) Raises $750,000 in Private Funding Round
ETFswap (ETFS), a blockchain platform that is revolutionizing DeFi by combining DeFi and TradFi through the tokenization of exchange-traded funds (ETFs), has successfully raised $750,000 in a private funding round.
ETFSwap Advantages
The platform allows traders to access multiple asset classes, including precious metals, through ETF tokenization, thereby opening up opportunities to increase the diversification of their portfolios. The leverage trading feature with a ratio of up to 10x is another attraction offered by ETFS.
Another advantage the platform offers is fractional ownership, which allows users to strengthen their portfolio with less capital. Ease of exchanging holdings with seamless exchange services.
Also read: Wormhole (W) Price Shows Signs of Recovery Amid Bearish Trend
ETFswap Platform Achieves Huge Success in Private Sale of ETFS Tokens
ETFswap, an innovative platform focused on developing decentralized financial technology (DeFi), recently reached an important milestone by completing the private sale of their native token, ETFS.
The event lasted three days and raised $750,000 from three angel investors and two institutional investors.
The high enthusiasm of these investors shows their strong belief in the long-term potential of the ETFswap project and its ecosystem. This is a clear testament to the value and innovative solutions this platform offers to the DeFi world.
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Current Condition of ETFSwap
Currently, ETFswap is offering ETFS tokens to crypto enthusiasts at an attractive stage 1 pre-sale price of $0.00854.
More than 17.04 million tokens have been sold, and the platform is preparing to start Phase 2 at a higher price of $0.01831.
This signals significant profit opportunities for investors who have participated in Phase 1.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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