CandleFocus Synthetic Dollar Protocol Ethena Surges by More Than 45% This Week Amid Rollout of New Product Offerings
2024-09-28
Author: Content Editor
The native token of Ethena, a synthetic dollar protocol developer, increased by over 45% this week as the project introduced new products. Ethena aims to offer a crypto-native solution for money through its synthetic dollar called USDe. The protocol also launched a dollar-denominated savings instrument called "the Internet Bond." Ethena recently partnered with the Ethereum restaking protocol EigenLayer to introduce USDe as the first dollar-denominated token that can be used as security. Additionally, Ethena launched UStb, a new stablecoin product backed by BlackRock's USD Institutional Digital Liquidity Fund.
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