Ethena (ENA) Secures $100 Million Funding from Main Monetary Establishments…

Ethena Secures $100 Million Funding

Ethena Labs has efficiently raised $100 million by a non-public sale of its ENA tokens, attracting investments from distinguished monetary entities together with Franklin Templeton, F-Prime Capital, Dragonfly Capital Companions, Polychain Capital, and Pantera Capital.

This substantial funding is earmarked for the event of a brand new token tailor-made for conventional monetary establishments and the institution of Ethena’s proprietary blockchain. Ethena’s digital asset portfolio options the ENA governance token and the USDe stablecoin, an artificial dollar-pegged asset that achieved a $1.three billion provide throughout the Ethena Shard Marketing campaign.

In response to market volatility, the corporate launched USDtb, a stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), holding 90% of its reserves within the fund. Regardless of a current $1.Four billion safety breach on the Bybit alternate, Ethena has assured stakeholders that USDe stays totally collateralized, with minimal publicity of lower than $30 million to the affected alternate

ENA Worth Evaluation

The Four-hour chart of ENA reveals a well-defined Elliott Wave construction, highlighting the completion of a five-wave impulsive cycle, adopted by an A-B-C corrective wave sequence. The value peaked close to $1.32 earlier than coming into a chronic decline inside a descending wedge sample, with wave C bottoming beneath the zero.786 Fibonacci retracement stage at $zero.37. This retracement aligns with historic help, rising the probability of a bullish response.